Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulation 2015, we wish to inform you that the Board of Director in its meeting held on Friday, November ....
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Maiden Forgings reported nearly flat revenue from operations of Rs 10,944.25 lakhs for H1 FY26, up just 0.3% from Rs 10,908.75 lakhs a year ago. However, profit after tax fell sharply by about 48% to Rs 209.70 lakhs (from Rs 404.72 lakhs), dragging EPS down to Rs 1.48 from Rs 2.85. Total expenses rose 5.4% to Rs 10,886 lakhs, driven by higher raw material costs and a sharp jump in depreciation. Profit before tax collapsed to Rs 250 lakhs from Rs 591 lakhs, reflecting severe margin compression. Cash generated from operations was negative at around Rs 651 lakhs. The auditor (HG & Co.) issued a clean, unqualified limited review report.
Stable top line but a steep fall in profits and negative operating cash flow signal significant margin and working-capital pressure, which is negative for shareholders. Related-party transactions with a sister concern and director-linked loans are noted and should be watched closely.