We are submitting the financial results for the quarter and year ended 31 March 2026
MMFL · price
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MM Forgings reported standalone FY26 revenue of Rs 1,52,859 lakhs, up 4.5% YoY from Rs 1,46,271 lakhs in FY25. However, full-year profit after tax declined 16.8% to Rs 11,331 lakhs from Rs 13,624 lakhs, impacted by significantly higher finance costs (up 27.6% to Rs 7,820 lakhs) and rising input costs. Q4 FY26 showed strong recovery with revenue growing 16.7% YoY to Rs 41,270 lakhs and PAT jumping 32.8% to Rs 4,810 lakhs. Tax expenses reduced substantially due to deferred tax credit of Rs 684 lakhs. The Board declared an interim dividend of Rs 4 per share (40%). Auditors issued an unmodified opinion confirming clean financial statements. Total borrowings stand at Rs 1,07,363 lakhs against equity of Rs 1,03,109 lakhs.
Despite Q4 recovery, the full-year profit decline and high leverage (debt-to-equity ~1:1) may concern investors. The dividend declaration provides some investor return, but the revenue growth remains below double digits, indicating underlying operational challenges.