Audited financial results for the half yearly and the year ended for the March 31, 2026 (AFR)
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Maiden Forgings Ltd reported audited results for FY2026 with revenue from operations growing 8.79% to ₹23,161.36 lakhs from ₹21,290.69 lakhs in the prior year. However, profit after tax declined significantly by 16.96% to ₹502.31 lakhs from ₹604.91 lakhs. EPS also dropped to ₹3.53 per share from ₹4.26 per share. The company maintained an unmodified audit opinion from H.G. & Co. with no going concern issues raised. Total assets increased to ₹18,071.40 lakhs while equity grew to ₹8,113.47 lakhs. Operating cash flow remained positive at ₹622.28 lakhs, though the company continues to carry substantial borrowings.
The decline in profitability despite revenue growth signals margin compression, which may concern investors. The clean audit opinion and stable balance sheet provide some comfort, but the PAT decline of nearly 17% could put downward pressure on the stock price in the near term.