Pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, the Company is hereby submitting transcripts of the Earning Conference Call held on Tuesday, June 02, 2026 at 12:00 P.M.
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Maiden Forgings released transcripts of its H2 & FY26 earnings call held on June 2, 2026. For FY26, the company reported revenue of ₹233.96 crore, EBITDA of ₹17.22 crore, and net profit of ₹5.02 crore, with highest-ever production of 35,546 metric tons. H2 FY26 revenue grew 17.46% year-on-year to ₹122.60 crore, while net profit jumped 46.37% to ₹2.93 crore. Management highlighted a new 4-acre integrated facility at Modinagar that is nearly operational, expanding capacity from ~53,000 to ~63,000 tons. The company has secured DRDO registrations (TBRL, CEMILAC) and supplied to HAL, BHEL, and NTPC, targeting 20-25% of sales from the B2G segment. New high-margin products like GI wires (20-25% gross margin) and stainless steel components are set to launch. Plans are also in place for a UAE subsidiary for exports and a possible migration from BSE SME to the main board.
Positive signals for shareholders — management guided a 1-2% EBITDA margin improvement, significant capacity addition, a product mix shift toward higher-margin offerings, and B2G/defense diversification, all funded through internal accruals without external capital raising. Key catalysts to watch are the new plant becoming fully operational, B2G order ramp-up, and the planned SME-to-main-board migration.