Investor Presentation - Q4FY26 and FY26
MMFL · price
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MM Forgings reported FY26 revenue of ₹1,570 Crores, crossing the ₹1,500 Cr mark for the third consecutive year with 4.2% growth over FY25. However, profitability declined with EBITDA falling to ₹300.37 Cr from ₹323.72 Cr, and PAT dropping to ₹113.86 Cr from ₹136.29 Cr, indicating margin pressure despite revenue growth. Q4FY26 showed strong sequential improvement with PAT at ₹48.06 Crores, up 32.6% from Q4FY25. Domestic sales grew 9.5% to ₹986 Cr contributing 64% of revenue, while exports declined to ₹543 Cr from ₹563 Cr. The company has initiated a green energy transition from February 2026, expecting margin improvements from FY27 onwards. Interest costs reduced by ₹2 Crores in Q4 with further reduction expected. The board recommended an interim dividend of ₹4 per share.
The company demonstrated revenue growth resilience but faced profitability headwinds from commodity volatility and geopolitical uncertainties. The green energy transition and cost reduction initiatives may restore margins in FY27. Near-term, the stock may see mixed reaction as top-line growth is offset by margin compression.