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Companies›Consumer Discretionary›Automobile and Auto Components›Auto Components
NSE:MMFL

MM FORGINGS LTD

Automobile and Auto Components › Auto Components
₹480.10
at close · 28 Oct 2026
▼ 13.90 (-2.81%)

Latest filings

  1. Compliance Certificate for Q2 FY27 under SEBI Reg 74(5) · Compliance
  2. Trading window closure for designated persons ahead of Q2 results · Compliance
  3. MM Forgings to hold investor meet with Nuvama on 15 Sept 2026 · Board & Shareholder Meetings
All filings ↓
Ask Nexa about MM FORGINGS LTD

Snapshot

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

AI · written from filings

Manufactures steel forgings for automotive and commercial-vehicle customers, with 93.42% of revenue from a single segment. FY26 revenue was Rs 1,589.87 crore, with domestic sales at ~Rs 986 crore (64% of total) and exports at ~Rs 543 crore across 16 countries (35.5% of revenue). The US is the swing geography — its share fell from 16–17% to 9% as the Class 8 truck cycle bottomed, but management flagged early recovery. Raw materials are the largest cost at 40.1% of revenue, followed by other opex at 26.4% and employees at 11.1%. Debt is held around Rs 1,200 cr, and the company shifted to 100% green power effective Feb 2026 (estimated Rs 15 cr annual EBITDA tailwind). It also operates an EV-motor subsidiary (Abinava Rize) that is currently burning ~Rs 1 cr/month.

Operating scale
Total forging capacity
1.5 lakh tonsFY26
Plants
10FY26
Employees and workers
4,816FY26
FY26 capacity utilisation
70-75k tonsFY26
FY27 capacity utilisation target
90k+ tonsFY27
16,500-ton press commissioning
June-July FY27FY27
Who pays it
Auto and commercial-vehicle OEMs, primarily US Class 8 truck makers and Indian CV makers
Biggest cost
Raw materials (40.1% of revenue)
Kind of business
Cyclical, asset-heavy auto-components forging
Where it sits
Single-segment forging supplier with 10 plants, 35.5% revenue from exports across 16 countries
Market Cap
₹2,318 Cr
P / E (TTM)
13.7×
EV / EBITDA
8.8×
Div Yield
0.83%
Growth
16.4%▲
Revenue 5y CAGR
PAT +16.1% · EBITDA +15.1%
Quality
16.6%▲
ROCE (5y median)
ROE 17.1% (5y median) · margin 18.6%
Leverage
1.10·
Debt / Equity · moderate
Net debt ₹849 Cr
Revenue FY21→FY26
2.1×▲
Margin −0.1 pts
₹744 Cr → ₹1,590 Cr
Cash conversion
1.45×▲
Operating cash ÷ profit · 5 yrs
₹862 Cr on ₹594 Cr
Moves on a normal day
1.48%·
Median daily move
Last 267 sessions · the yardstick for filing-day moves
Where it sits among 126 Auto Components & Equipments peersBar = share of peers beaten · tick = industry median · latest reported figures
P/E (TTM)#19/119
P/B#46/117
ROCE#94/125
ROE#70/117
Debt / Equity#108/117
EBITDA margin#3/118
Revenue growth#80/113
Profit growth#5/115

Scorecard

Measured from the filed financials, judged against its Auto Components & Equipments peers · as of FY26 — not investment advice

Strengths
Revenue compounding 16% a year over 5 years
Profit compounding 16% a year over 5 years
Returns on capital 16.6% (5-year median)
#94 of 125 in Auto Components & Equipments on the latest reported figures
Over 5 years it reported ₹594 Cr of profit and ₹862 Cr of operating cash — 1.45×
Profit is converting into cash
Concerns
Carries more debt than its peers — 1.10× equity
higher than 92% of its 117 Auto Components & Equipments peers
Heavy working capital — 130 days of cash tied up
Customers are taking longer to pay — 65 → 105 days of receivables
FY21 → FY26
EPS grew slower than profit — the share count rose (bonus or dilution)

Charts

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

MMFL · 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 MM FORGINGS LTD's filed financials and exchange disclosures

What does MM FORGINGS LTD do?

MM FORGINGS LTD is a Auto Components company listed on NSE and BSE, trading under the symbol MMFL.

Is MM FORGINGS LTD profitable?

Yes. Over the trailing twelve months MM FORGINGS LTD reported a net profit of ₹169 Cr on revenue of ₹1,638 Cr.

Does MM FORGINGS LTD pay a dividend?

Yes. The dividend yield is 0.83% at the current price. It paid out 20% of its profit as dividend in FY26.

Is MM FORGINGS LTD debt-free?

No. It reported borrowings of ₹1,074 Cr on its 31 Mar 2026 balance sheet, or net debt of ₹849 Cr after cash. Debt stands at 1.10× equity. That is higher than 92% of its 117 Auto Components & Equipments peers.

Is MM FORGINGS LTD expensive compared with its peers?

On trailing P/E, MM FORGINGS LTD ranks 19 of 119 in Auto Components & Equipments — cheaper than 85% of them, against an industry median of 25.3×. This is a position, not a valuation judgement.

How much does the MM FORGINGS LTD share price move in a day?

On a typical session MM FORGINGS LTD moves 1.48% — 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 MM FORGINGS LTD's announcements?

Every NSE and BSE filing by MM FORGINGS LTD 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.