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Companies›Industrials›Capital Goods›Industrial Products
NSE:KALYANIFRG

KALYANI FORGE LIMITED

Capital Goods › Industrial Products
₹829.00
at close · 28 Oct 2026
▲ 35.05 (+4.41%)
ThemesElectric Vehicles· growingRailways· mention

Latest filings

  1. Kalyani Forge files Reg 74(5) demat compliance certificate for Q2 FY26 · Compliance
  2. Company Secretary Mr. Anup Sancheti ceases at Kalyani Forge · Management Changes
  3. Trading window closure for Q2 FY27 starting October 1, 2026 · Compliance
All filings ↓
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Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

Manufactures forged components for automotive and industrial customers, organised around the Castings & Forgings business. FY26 revenue stood at ₹234.64 crore, with FY26 EBITDA of ₹31.58 crore at a 13.3% margin and Q4 FY26 EBITDA margin of 15.2%, the second consecutive quarter above 15%. Growth has been driven by orders in wheel hubs, driveline and axle products for OEMs, with new business wins in Q4 FY26 including an OEM Wheel Hub order of about ₹20 crore annually plus orders from SKF and Schaeffler, all ramping from Q1 FY27. The company has also moved into high-volume xEV (electric vehicle) products. Operations are structured around Driveline and Axle, which together account for 60% of the FY27 capex plan of ₹30 crore, with the balance going to forging modernisation. ROCE improved from 14% to 18% in FY26 and inventory was reduced by ₹21.7 crore as part of working-capital discipline. FY26 profit after tax was ₹9.32 crore, described by management as the highest annual PAT in approximately 14 years.

Operating scale
FY27 capex plan
₹30 crore (60% to Driveline and Axle)FY27
OEM Wheel Hub order
₹20 crore annualQ4 FY26 win, ramping Q1 FY27
FY26 EBITDA margin
13.3% (Q4 FY26: 15.2%)FY26
FY26 inventory reduction
₹21.7 croreFY26
FY26 ROCE
18% (up from 14%)FY26
Who pays it
Automotive OEMs and bearing suppliers, including SKF and Schaeffler, for driveline, axle and wheel-hub forged components.
Biggest cost
Raw materials at 40.5% of FY26 revenue, followed by employee costs at 19.8%.
Kind of business
Asset-heavy forging and machined components for automotive and industrial use.
Where it sits
Listed Indian forging supplier in the Capital Goods / Industrial Products classification, serving automotive OEMs and tier-1 bearing customers with forged driveline, axle and wheel-hub parts.
Market Cap
₹302 Cr
P / E (TTM)
24.3×
EV / EBITDA
11.3×
Div Yield
0.48%
Growth
5.4%▲
Revenue 5y CAGR
PAT — · EBITDA +18.5%
Quality
10.6%·
ROCE (5y median)
ROE 5.5% (5y median) · margin 13.5%
Leverage
1.11·
Debt / Equity · moderate
Net debt ₹105 Cr
Revenue FY21→FY26
1.3×▲
Margin +4.9 pts
₹181 Cr → ₹235 Cr
Cash conversion
1.77×▲
Operating cash ÷ profit · 5 yrs
₹51 Cr on ₹29 Cr
Moves on a normal day
1.64%·
Median daily move
Last 267 sessions · the yardstick for filing-day moves
Where it sits among 23 Castings & Forgings peersBar = share of peers beaten · tick = industry median · latest reported figures
P/E (TTM)#10/22
P/B#9/20
ROCE#16/24
ROE#13/20
Debt / Equity#18/20
EBITDA margin#13/20
Revenue growth#12/18
Profit growth#4/17

Scorecard

Measured from the filed financials, judged against its Castings & Forgings peers · as of FY26 — not investment advice

Strengths
Profit grew in every one of the last 5 years
Over 5 years it reported ₹29 Cr of profit and ₹51 Cr of operating cash — 1.77×
Profit is converting into cash
Concerns
Carries more debt than its peers — 1.11× equity
higher than 89% of its 20 Castings & Forgings peers
Heavy working capital — 171 days of cash tied up

Charts

How has the market priced it — with filings on the timeline?

KALYANIFRG · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Peers

How does it stack up on valuation, returns and growth?

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Financials

Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.

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Ownership

Who owns it — and is the promoter stake clean?

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Common questions

Answered from KALYANI FORGE LIMITED's filed financials and exchange disclosures

What does KALYANI FORGE LIMITED do?

KALYANI FORGE LIMITED is a Industrial Products company listed on NSE and BSE, trading under the symbol KALYANIFRG.

Is KALYANI FORGE LIMITED profitable?

Yes. Over the trailing twelve months KALYANI FORGE LIMITED reported a net profit of ₹12 Cr on revenue of ₹237 Cr.

Does KALYANI FORGE LIMITED pay a dividend?

Yes. The dividend yield is 0.48% at the current price. It paid out 16% of its profit as dividend in FY26.

Is KALYANI FORGE LIMITED debt-free?

No. It reported borrowings of ₹106 Cr on its 31 Mar 2026 balance sheet, or net debt of ₹105 Cr after cash. Debt stands at 1.11× equity. That is higher than 89% of its 20 Castings & Forgings peers.

Is KALYANI FORGE LIMITED expensive compared with its peers?

On trailing P/E, KALYANI FORGE LIMITED ranks 10 of 22 in Castings & Forgings — cheaper than 57% of them, against an industry median of 26.7×. This is a position, not a valuation judgement.

How much does the KALYANI FORGE LIMITED share price move in a day?

On a typical session KALYANI FORGE LIMITED moves 1.64% — that is the median absolute close-to-close move across its last 267 trading days. MarketPing measures each filing's price reaction against it.

Where can I track KALYANI FORGE LIMITED's announcements?

Every NSE and BSE filing by KALYANI FORGE LIMITED appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.