Ganga Forging Ltd.
•₹ 2.05-4.65%
2026-08-21
PROS
- Working capital cycle has improved - days down from 170 to 99
CONS
- Operating cash flow has been negative in recent years
- Company has a low return on capital employed of 5.1%
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -5.84x)
- Company has a low return on equity of 5.8% over last 3 years
- Promoter holding has decreased over last 2 years: -5.1pp
- A large part of profit comes from other income (26.5% of PBT)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | BHARATFORG | 2065.00 | 139.79 | 98725.30 | 0.41 | -89.89 | -131.67 | 4639.94 | 18.71 | 12.46 | 15.05 |
| 2. | HAPPYFORGE | 2305.95 | 66.47 | 21763.26 | 0.17 | 91.46 | 39.24 | 449.42 | 27.03 | 18.19 | 31.34 |
| 3. | RKFORGE | 748.15 | 127.50 | 13629.05 | 0.13 | 46.88 | 297.76 | 1216.67 | 19.84 | 5.56 | 17.91 |
| 4. | BALUFORGE | 537.50 | 24.35 | 6524.81 | 0.00 | 66.09 | 15.89 | 300.72 | 28.95 | 31.33 | 28.19 |
| 5. | MMFL | 655.90 | 18.70 | 3166.79 | 0.61 | 90.42 | 371.26 | 420.48 | 18.71 | 9.00 | 17.82 |
| 6. | KALYANIFRG | 678.75 | 0.00 | 246.93 | 0.59 | 4.48 | 217.73 | 66.80 | 4.16 | 12.26 | 15.89 |
| 7. | GANGAFORGE | 2.26 | 0.00 | 76.16 | 0.00 | 10.58 | 3748.28 | 71.85 | 827.58 | 4.06 | 9.34 |
Detailed Comparison with:
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 10 | 9 | 9 | 10 | 9 | 12 | 12 | 12 | 8 | 8 | 9 | 11 | 7 | |
| 9 | 8 | 8 | 9 | 8 | 11 | 11 | 11 | 8 | 11 | 8 | 11 | 7 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | -3 | 0 | -1 | 1 | |
| Tax % | 14.29% | -29.41% | -9.09% | 108.33% | 20.00% | -12.00% | 12.90% | 366.67% | -45.00% | -3.52% | 25.00% | 33.33% | -10.09% |
| Net Profit | 0 | 0 | 0 | -0 | 0 | 0 | 0 | -0 | -0 | -3 | 0 | -0 | 1 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | -0 | -0 | 0 | -0 | 0 | |
| Equity Capital | 11 | 11 | 12 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 11 | 11 | 12 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Jun 2023
- 10
- 9
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 0
- Tax %
- 14.29%
- Net Profit
- 0
- 0
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 9
- 8
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 0
- Tax %
- -29.41%
- Net Profit
- 0
- 0
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 11
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 9
- 8
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 0
- Tax %
- -9.09%
- Net Profit
- 0
- 0
- Equity Capital
- 12
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 12
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 10
- 9
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 0
- Tax %
- 108.33%
- Net Profit
- -0
- 0
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 9
- 8
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 0
- Tax %
- 20.00%
- Net Profit
- 0
- 0
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 12
- 11
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 0
- Tax %
- -12.00%
- Net Profit
- 0
- 0
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 12
- 11
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 0
- Tax %
- 12.90%
- Net Profit
- 0
- 0
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 12
- 11
- Operating Profit
- —
- OPM %
- —
- Other Income
- -0
- Interest
- 0
- Depreciation
- 0
- 0
- Tax %
- 366.67%
- Net Profit
- -0
- -0
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 8
- 8
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- -0
- Tax %
- -45.00%
- Net Profit
- -0
- -0
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 8
- 11
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- -3
- Tax %
- -3.52%
- Net Profit
- -3
- -0
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 9
- 8
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 0
- Tax %
- 25.00%
- Net Profit
- 0
- 0
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 11
- 11
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- -1
- Tax %
- 33.33%
- Net Profit
- -0
- -0
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 7
- 7
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 0
- Depreciation
- 0
- 1
- Tax %
- -10.09%
- Net Profit
- 1
- 0
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 13
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 18 | 19 | 25 | 28 | 24 | 23 | 29 | 33 | 37 | 43 | 35 | |
| 17 | 17 | 23 | 25 | 24 | 21 | 26 | 31 | 35 | 41 | 37 | |
| Operating Profit | 1 | 2 | 2 | 3 | -1 | 2 | 3 | 2 | 3 | 2 | — |
| OPM % | 7 | 9 | 8 | 9 | -3 | 8 | 11 | 6 | 7 | 6 | — |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| 0 | 1 | 1 | 1 | -3 | 0 | 2 | 1 | 1 | 1 | -3 | |
| Tax % | 23 | 14 | 35 | 21 | 25 | -88 | 48 | -88 | 41 | 29 | 9 |
| Net Profit | 0 | 0 | 0 | 1 | -2 | 0 | 1 | 2 | 0 | 1 | -2 |
| EPS | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | — |
Mar 2016
- 18
- 17
- Operating Profit
- 1
- OPM %
- 7
- Other Income
- 0
- Interest
- 1
- Depreciation
- 0
- 0
- Tax %
- 23
- Net Profit
- 0
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
Mar 2017
- 19
- 17
- Operating Profit
- 2
- OPM %
- 9
- Other Income
- 0
- Interest
- 1
- Depreciation
- 0
- 1
- Tax %
- 14
- Net Profit
- 0
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
Mar 2018
- 25
- 23
- Operating Profit
- 2
- OPM %
- 8
- Other Income
- 0
- Interest
- 1
- Depreciation
- 0
- 1
- Tax %
- 35
- Net Profit
- 0
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
Mar 2019
- 28
- 25
- Operating Profit
- 3
- OPM %
- 9
- Other Income
- 0
- Interest
- 1
- Depreciation
- 1
- 1
- Tax %
- 21
- Net Profit
- 1
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
Mar 2020
- 24
- 24
- Operating Profit
- -1
- OPM %
- -3
- Other Income
- 0
- Interest
- 1
- Depreciation
- 1
- -3
- Tax %
- 25
- Net Profit
- -2
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -0
Mar 2021
- 23
- 21
- Operating Profit
- 2
- OPM %
- 8
- Other Income
- 0
- Interest
- 1
- Depreciation
- 1
- 0
- Tax %
- -88
- Net Profit
- 0
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
Mar 2022
- 29
- 26
- Operating Profit
- 3
- OPM %
- 11
- Other Income
- 1
- Interest
- 1
- Depreciation
- 1
- 2
- Tax %
- 48
- Net Profit
- 1
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
Mar 2023
- 33
- 31
- Operating Profit
- 2
- OPM %
- 6
- Other Income
- 0
- Interest
- 1
- Depreciation
- 1
- 1
- Tax %
- -88
- Net Profit
- 2
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
Mar 2024
- 37
- 35
- Operating Profit
- 3
- OPM %
- 7
- Other Income
- 0
- Interest
- 1
- Depreciation
- 1
- 1
- Tax %
- 41
- Net Profit
- 0
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
Mar 2025
- 43
- 41
- Operating Profit
- 2
- OPM %
- 6
- Other Income
- 0
- Interest
- 1
- Depreciation
- 1
- 1
- Tax %
- 29
- Net Profit
- 1
- EPS
- 0
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 0
TTM
- 35
- 37
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 1
- Depreciation
- 1
- -3
- Tax %
- 9
- Net Profit
- -2
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 10%
- 5 Years:
- 13%
- 3 Years:
- 14%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 3%
- 5 Years:
- —
- 3 Years:
- -16%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- -27%
- 3 Years:
- -28%
- 1 Year:
- -20%
RETURN ON EQUITY
- 10 Years:
- 5%
- 5 Years:
- 6%
- 3 Years:
- 6%
- Last Year:
- 2%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 0 | 0 | 6 | 8 | 8 | 11 | 11 | 11 | 13 | 13 |
| 3 | 4 | 3 | 6 | 4 | 0 | 1 | 3 | 15 | 19 | |
| 4 | 3 | 5 | 8 | 7 | 6 | 7 | 10 | 9 | 9 | |
| Trade Payables | 4 | 4 | 7 | 6 | 8 | 7 | 4 | 5 | 2 | 6 |
| 2 | 4 | 4 | 7 | 5 | 7 | 8 | 7 | 7 | 11 | |
| Total Liabilities | 13 | 15 | 25 | 35 | 33 | 31 | 31 | 35 | 46 | 59 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 5 | 6 | 9 | 16 | 15 | 15 | 14 | 16 | 16 | 18 | |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 1 | 0 | 0 |
| 3 | 3 | 6 | 9 | 7 | 8 | 9 | 11 | 16 | 19 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 8 | 8 | |
| Cash & Bank | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| 5 | 6 | 10 | 11 | 10 | 8 | 6 | 7 | 4 | 13 | |
| Total Assets | 13 | 15 | 25 | 35 | 33 | 31 | 31 | 35 | 46 | 59 |
| Total Debt | 5 | 7 | 8 | 13 | 12 | 11 | 12 | 14 | 10 | 17 |
| Net Working Capital | -1 | 1 | -0 | 3 | -0 | 1 | 2 | 3 | 17 | 12 |
| Contingent Liabilities | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Book Value per Share | 984.17 | 1122.71 | 15.19 | 17.53 | 14.93 | 10.03 | 1.10 | 1.26 | 2.12 | 2.39 |
| Face Value | 100.00 | 100.00 | 10.00 | 10.00 | 10.00 | 10.00 | 1.00 | 1.00 | 1.00 | 1.00 |
| Total Debt | 5 | 7 | 8 | 13 | 12 | 11 | 12 | 14 | 10 | 17 |
| Net Working Capital | -1 | 1 | -0 | 3 | -0 | 1 | 2 | 3 | 17 | 12 |
| Contingent Liabilities | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Book Value per Share | 984.17 | 1122.71 | 15.19 | 17.53 | 14.93 | 10.03 | 1.10 | 1.26 | 2.12 | 2.39 |
| Face Value | 100.00 | 100.00 | 10.00 | 10.00 | 10.00 | 10.00 | 1.00 | 1.00 | 1.00 | 1.00 |
Mar 2016
- Equity Capital
- 0
- 3
- 4
- Trade Payables
- 4
- 2
- Total Liabilities
- 13
- 5
- Capital Work in Progress
- 0
- 3
- 0
- Cash & Bank
- 0
- 5
- Total Assets
- 13
- Total Debt
- 5
- Net Working Capital
- -1
- Contingent Liabilities
- 0
- Book Value per Share
- 984.17
- Face Value
- 100.00
- Total Debt
- 5
- Net Working Capital
- -1
- Contingent Liabilities
- 0
- Book Value per Share
- 984.17
- Face Value
- 100.00
Mar 2017
- Equity Capital
- 0
- 4
- 3
- Trade Payables
- 4
- 4
- Total Liabilities
- 15
- 6
- Capital Work in Progress
- 0
- 3
- 0
- Cash & Bank
- 0
- 6
- Total Assets
- 15
- Total Debt
- 7
- Net Working Capital
- 1
- Contingent Liabilities
- 0
- Book Value per Share
- 1122.71
- Face Value
- 100.00
- Total Debt
- 7
- Net Working Capital
- 1
- Contingent Liabilities
- 0
- Book Value per Share
- 1122.71
- Face Value
- 100.00
Mar 2018
- Equity Capital
- 6
- 3
- 5
- Trade Payables
- 7
- 4
- Total Liabilities
- 25
- 9
- Capital Work in Progress
- 0
- 6
- 0
- Cash & Bank
- 0
- 10
- Total Assets
- 25
- Total Debt
- 8
- Net Working Capital
- -0
- Contingent Liabilities
- 0
- Book Value per Share
- 15.19
- Face Value
- 10.00
- Total Debt
- 8
- Net Working Capital
- -0
- Contingent Liabilities
- 0
- Book Value per Share
- 15.19
- Face Value
- 10.00
Mar 2019
- Equity Capital
- 8
- 6
- 8
- Trade Payables
- 6
- 7
- Total Liabilities
- 35
- 16
- Capital Work in Progress
- 0
- 9
- 0
- Cash & Bank
- 0
- 11
- Total Assets
- 35
- Total Debt
- 13
- Net Working Capital
- 3
- Contingent Liabilities
- 1
- Book Value per Share
- 17.53
- Face Value
- 10.00
- Total Debt
- 13
- Net Working Capital
- 3
- Contingent Liabilities
- 1
- Book Value per Share
- 17.53
- Face Value
- 10.00
Mar 2020
- Equity Capital
- 8
- 4
- 7
- Trade Payables
- 8
- 5
- Total Liabilities
- 33
- 15
- Capital Work in Progress
- 0
- 7
- 0
- Cash & Bank
- 0
- 10
- Total Assets
- 33
- Total Debt
- 12
- Net Working Capital
- -0
- Contingent Liabilities
- 1
- Book Value per Share
- 14.93
- Face Value
- 10.00
- Total Debt
- 12
- Net Working Capital
- -0
- Contingent Liabilities
- 1
- Book Value per Share
- 14.93
- Face Value
- 10.00
Mar 2021
- Equity Capital
- 11
- 0
- 6
- Trade Payables
- 7
- 7
- Total Liabilities
- 31
- 15
- Capital Work in Progress
- 0
- 8
- 0
- Cash & Bank
- 0
- 8
- Total Assets
- 31
- Total Debt
- 11
- Net Working Capital
- 1
- Contingent Liabilities
- 1
- Book Value per Share
- 10.03
- Face Value
- 10.00
- Total Debt
- 11
- Net Working Capital
- 1
- Contingent Liabilities
- 1
- Book Value per Share
- 10.03
- Face Value
- 10.00
Mar 2022
- Equity Capital
- 11
- 1
- 7
- Trade Payables
- 4
- 8
- Total Liabilities
- 31
- 14
- Capital Work in Progress
- 2
- 9
- 0
- Cash & Bank
- 0
- 6
- Total Assets
- 31
- Total Debt
- 12
- Net Working Capital
- 2
- Contingent Liabilities
- 1
- Book Value per Share
- 1.10
- Face Value
- 1.00
- Total Debt
- 12
- Net Working Capital
- 2
- Contingent Liabilities
- 1
- Book Value per Share
- 1.10
- Face Value
- 1.00
Mar 2023
- Equity Capital
- 11
- 3
- 10
- Trade Payables
- 5
- 7
- Total Liabilities
- 35
- 16
- Capital Work in Progress
- 1
- 11
- 0
- Cash & Bank
- 0
- 7
- Total Assets
- 35
- Total Debt
- 14
- Net Working Capital
- 3
- Contingent Liabilities
- 1
- Book Value per Share
- 1.26
- Face Value
- 1.00
- Total Debt
- 14
- Net Working Capital
- 3
- Contingent Liabilities
- 1
- Book Value per Share
- 1.26
- Face Value
- 1.00
Mar 2024
- Equity Capital
- 13
- 15
- 9
- Trade Payables
- 2
- 7
- Total Liabilities
- 46
- 16
- Capital Work in Progress
- 0
- 16
- 8
- Cash & Bank
- 1
- 4
- Total Assets
- 46
- Total Debt
- 10
- Net Working Capital
- 17
- Contingent Liabilities
- 1
- Book Value per Share
- 2.12
- Face Value
- 1.00
- Total Debt
- 10
- Net Working Capital
- 17
- Contingent Liabilities
- 1
- Book Value per Share
- 2.12
- Face Value
- 1.00
Mar 2025
- Equity Capital
- 13
- 19
- 9
- Trade Payables
- 6
- 11
- Total Liabilities
- 59
- 18
- Capital Work in Progress
- 0
- 19
- 8
- Cash & Bank
- 0
- 13
- Total Assets
- 59
- Total Debt
- 17
- Net Working Capital
- 12
- Contingent Liabilities
- 1
- Book Value per Share
- 2.39
- Face Value
- 1.00
- Total Debt
- 17
- Net Working Capital
- 12
- Contingent Liabilities
- 1
- Book Value per Share
- 2.39
- Face Value
- 1.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2 | 0 | 0 | -2 | 2 | 2 | 1 | -1 | -11 | -4 | |
| Cash from Investing | -1 | -2 | 0 | -7 | -1 | -0 | -2 | -1 | -1 | -2 |
| Cash from Financing | -0 | 1 | 0 | 9 | -2 | -2 | 0 | 2 | 12 | 6 |
| -0 | 0 | 0 | 0 | -0 | 0 | -0 | 0 | 1 | -1 | |
| Free Cash Flow | 0 | -1 | -4 | -8 | 2 | 2 | -1 | -1 | -12 | -7 |
| OCF / Net Profit | 6.31 | 1.03 | 0.00 | -3.52 | -1.11 | 7.84 | 1.28 | -0.66 | -23.99 | -6.71 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -11 | -9 | -9 | -7 | -10 | -19 |
| OCF / Net Profit | 6.31 | 1.03 | 0.00 | -3.52 | -1.11 | 7.84 | 1.28 | -0.66 | -23.99 | -6.71 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | -11 | -9 | -9 | -7 | -10 | -19 |
Mar 2016
- 2
- Cash from Investing
- -1
- Cash from Financing
- -0
- -0
- Free Cash Flow
- 0
- OCF / Net Profit
- 6.31
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 6.31
- Cumulative 5-Year FCF
- 0
Mar 2017
- 0
- Cash from Investing
- -2
- Cash from Financing
- 1
- 0
- Free Cash Flow
- -1
- OCF / Net Profit
- 1.03
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.03
- Cumulative 5-Year FCF
- 0
Mar 2018
- 0
- Cash from Investing
- 0
- Cash from Financing
- 0
- 0
- Free Cash Flow
- -4
- OCF / Net Profit
- 0.00
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.00
- Cumulative 5-Year FCF
- 0
Mar 2019
- -2
- Cash from Investing
- -7
- Cash from Financing
- 9
- 0
- Free Cash Flow
- -8
- OCF / Net Profit
- -3.52
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -3.52
- Cumulative 5-Year FCF
- 0
Mar 2020
- 2
- Cash from Investing
- -1
- Cash from Financing
- -2
- -0
- Free Cash Flow
- 2
- OCF / Net Profit
- -1.11
- Cumulative 5-Year FCF
- -11
- OCF / Net Profit
- -1.11
- Cumulative 5-Year FCF
- -11
Mar 2021
- 2
- Cash from Investing
- -0
- Cash from Financing
- -2
- 0
- Free Cash Flow
- 2
- OCF / Net Profit
- 7.84
- Cumulative 5-Year FCF
- -9
- OCF / Net Profit
- 7.84
- Cumulative 5-Year FCF
- -9
Mar 2022
- 1
- Cash from Investing
- -2
- Cash from Financing
- 0
- -0
- Free Cash Flow
- -1
- OCF / Net Profit
- 1.28
- Cumulative 5-Year FCF
- -9
- OCF / Net Profit
- 1.28
- Cumulative 5-Year FCF
- -9
Mar 2023
- -1
- Cash from Investing
- -1
- Cash from Financing
- 2
- 0
- Free Cash Flow
- -1
- OCF / Net Profit
- -0.66
- Cumulative 5-Year FCF
- -7
- OCF / Net Profit
- -0.66
- Cumulative 5-Year FCF
- -7
Mar 2024
- -11
- Cash from Investing
- -1
- Cash from Financing
- 12
- 1
- Free Cash Flow
- -12
- OCF / Net Profit
- -23.99
- Cumulative 5-Year FCF
- -10
- OCF / Net Profit
- -23.99
- Cumulative 5-Year FCF
- -10
Mar 2025
- -4
- Cash from Investing
- -2
- Cash from Financing
- 6
- -1
- Free Cash Flow
- -7
- OCF / Net Profit
- -6.71
- Cumulative 5-Year FCF
- -19
- OCF / Net Profit
- -6.71
- Cumulative 5-Year FCF
- -19
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 72.17 | 138.54 | 0.83 | 0.66 | -2.66 | 0.24 | 0.10 | 0.16 | 0.03 | 0.05 |
| Book Value (₹) | 984.17 | 1122.71 | 15.19 | 17.53 | 14.93 | 10.03 | 1.10 | 1.26 | 2.12 | 2.39 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 0.14 | 0.21 | 0.13 | 0.12 | -0.12 | 0.11 | 0.18 | 0.24 | 0.11 | 0.13 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 7.19% | 8.89% | 7.92% | 8.94% | -2.72% | 8.01% | 10.59% | 6.19% | 6.71% | 5.22% |
| Net Margin % | 1.37% | 2.59% | 1.83% | 1.85% | -8.81% | 1.10% | 3.59% | 4.96% | 1.19% | 1.42% |
| ROE % | 7.61% | 13.15% | 7.48% | 4.66% | -16.40% | 2.25% | 9.31% | 13.29% | 2.12% | 2.02% |
| ROCE % | 11.33% | 12.01% | 11.07% | 8.30% | -6.13% | 4.16% | 13.14% | 6.64% | 4.65% | 4.06% |
| 1.98% | 3.40% | 2.30% | 1.73% | -6.22% | 0.80% | 3.34% | 5.04% | 1.09% | 1.17% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 101 | 103 | 97 | 112 | 136 | 127 | 76 | 58 | 70 | 70 |
| Inventory Days | 57 | 61 | 65 | 94 | 122 | 121 | 107 | 110 | 134 | 150 |
| Payable Days | 93 | 96 | 124 | 143 | 158 | 200 | 112 | 71 | 50 | 53 |
| 64 | 67 | 39 | 63 | 100 | 48 | 71 | 97 | 153 | 167 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 1.47x | 1.77x | 0.93x | 0.91x | 0.98x | 0.99x | 1.01x | 1.07x | 0.35x | 0.52x |
| Interest Coverage (x) | 1.54x | 1.94x | 1.91x | 1.59x | -1.21x | 1.17x | 3.08x | 2.09x | 1.89x | 1.90x |
| 0.94x | 1.08x | 1.00x | 1.19x | 0.98x | 1.07x | 1.19x | 1.16x | 2.41x | 1.60x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 12.32% | 1.48% | 32.80% | 11.95% | -15.26% | -2.56% | 25.46% | 15.88% | 11.38% | 16.14% |
| Operating Profit Growth % | -7.19% | 25.35% | 20.26% | 25.70% | -125.99% | 381.63% | 65.93% | -32.29% | 25.23% | -4.00% |
| Net Profit Growth % | -45.77% | 91.96% | -4.44% | 12.47% | -505.91% | 111.97% | 308.41% | 60.20% | -73.24% | 38.26% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -78.90% | 37.88% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 263.64x | 94.07x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 3.26x | 1.42x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 48.60x | 29.74x |
Mar 2016
- EPS (₹)
- 72.17
- Book Value (₹)
- 984.17
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.14
- Operating Margin %
- 7.19%
- Net Margin %
- 1.37%
- ROE %
- 7.61%
- ROCE %
- 11.33%
- 1.98%
- Debtor Days
- 101
- Inventory Days
- 57
- Payable Days
- 93
- 64
- Debt to Equity (x)
- 1.47x
- Interest Coverage (x)
- 1.54x
- 0.94x
- Revenue Growth %
- 12.32%
- Operating Profit Growth %
- -7.19%
- Net Profit Growth %
- -45.77%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2017
- EPS (₹)
- 138.54
- Book Value (₹)
- 1122.71
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.21
- Operating Margin %
- 8.89%
- Net Margin %
- 2.59%
- ROE %
- 13.15%
- ROCE %
- 12.01%
- 3.40%
- Debtor Days
- 103
- Inventory Days
- 61
- Payable Days
- 96
- 67
- Debt to Equity (x)
- 1.77x
- Interest Coverage (x)
- 1.94x
- 1.08x
- Revenue Growth %
- 1.48%
- Operating Profit Growth %
- 25.35%
- Net Profit Growth %
- 91.96%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- 0.83
- Book Value (₹)
- 15.19
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.13
- Operating Margin %
- 7.92%
- Net Margin %
- 1.83%
- ROE %
- 7.48%
- ROCE %
- 11.07%
- 2.30%
- Debtor Days
- 97
- Inventory Days
- 65
- Payable Days
- 124
- 39
- Debt to Equity (x)
- 0.93x
- Interest Coverage (x)
- 1.91x
- 1.00x
- Revenue Growth %
- 32.80%
- Operating Profit Growth %
- 20.26%
- Net Profit Growth %
- -4.44%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- 0.66
- Book Value (₹)
- 17.53
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.12
- Operating Margin %
- 8.94%
- Net Margin %
- 1.85%
- ROE %
- 4.66%
- ROCE %
- 8.30%
- 1.73%
- Debtor Days
- 112
- Inventory Days
- 94
- Payable Days
- 143
- 63
- Debt to Equity (x)
- 0.91x
- Interest Coverage (x)
- 1.59x
- 1.19x
- Revenue Growth %
- 11.95%
- Operating Profit Growth %
- 25.70%
- Net Profit Growth %
- 12.47%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- -2.66
- Book Value (₹)
- 14.93
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- -0.12
- Operating Margin %
- -2.72%
- Net Margin %
- -8.81%
- ROE %
- -16.40%
- ROCE %
- -6.13%
- -6.22%
- Debtor Days
- 136
- Inventory Days
- 122
- Payable Days
- 158
- 100
- Debt to Equity (x)
- 0.98x
- Interest Coverage (x)
- -1.21x
- 0.98x
- Revenue Growth %
- -15.26%
- Operating Profit Growth %
- -125.99%
- Net Profit Growth %
- -505.91%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- 0.24
- Book Value (₹)
- 10.03
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.11
- Operating Margin %
- 8.01%
- Net Margin %
- 1.10%
- ROE %
- 2.25%
- ROCE %
- 4.16%
- 0.80%
- Debtor Days
- 127
- Inventory Days
- 121
- Payable Days
- 200
- 48
- Debt to Equity (x)
- 0.99x
- Interest Coverage (x)
- 1.17x
- 1.07x
- Revenue Growth %
- -2.56%
- Operating Profit Growth %
- 381.63%
- Net Profit Growth %
- 111.97%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 0.10
- Book Value (₹)
- 1.10
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.18
- Operating Margin %
- 10.59%
- Net Margin %
- 3.59%
- ROE %
- 9.31%
- ROCE %
- 13.14%
- 3.34%
- Debtor Days
- 76
- Inventory Days
- 107
- Payable Days
- 112
- 71
- Debt to Equity (x)
- 1.01x
- Interest Coverage (x)
- 3.08x
- 1.19x
- Revenue Growth %
- 25.46%
- Operating Profit Growth %
- 65.93%
- Net Profit Growth %
- 308.41%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 0.16
- Book Value (₹)
- 1.26
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.24
- Operating Margin %
- 6.19%
- Net Margin %
- 4.96%
- ROE %
- 13.29%
- ROCE %
- 6.64%
- 5.04%
- Debtor Days
- 58
- Inventory Days
- 110
- Payable Days
- 71
- 97
- Debt to Equity (x)
- 1.07x
- Interest Coverage (x)
- 2.09x
- 1.16x
- Revenue Growth %
- 15.88%
- Operating Profit Growth %
- -32.29%
- Net Profit Growth %
- 60.20%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 0.03
- Book Value (₹)
- 2.12
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.11
- Operating Margin %
- 6.71%
- Net Margin %
- 1.19%
- ROE %
- 2.12%
- ROCE %
- 4.65%
- 1.09%
- Debtor Days
- 70
- Inventory Days
- 134
- Payable Days
- 50
- 153
- Debt to Equity (x)
- 0.35x
- Interest Coverage (x)
- 1.89x
- 2.41x
- Revenue Growth %
- 11.38%
- Operating Profit Growth %
- 25.23%
- Net Profit Growth %
- -73.24%
- -78.90%
- P/E (x)
- 263.64x
- P/B (x)
- 3.26x
- Dividend Yield %
- 0.00%
- 48.60x
Mar 2025
- EPS (₹)
- 0.05
- Book Value (₹)
- 2.39
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 0.13
- Operating Margin %
- 5.22%
- Net Margin %
- 1.42%
- ROE %
- 2.02%
- ROCE %
- 4.06%
- 1.17%
- Debtor Days
- 70
- Inventory Days
- 150
- Payable Days
- 53
- 167
- Debt to Equity (x)
- 0.52x
- Interest Coverage (x)
- 1.90x
- 1.60x
- Revenue Growth %
- 16.14%
- Operating Profit Growth %
- -4.00%
- Net Profit Growth %
- 38.26%
- 37.88%
- P/E (x)
- 94.07x
- P/B (x)
- 1.42x
- Dividend Yield %
- 0.00%
- 29.74x
Documents
Announcements
- Disclosure under SEBI Takeover Regulations
2026-08-07 - Pine Oak Global Fund has submitted to the Exchange a copy of Disclosures under Regulation 29(1) of SEBI (SAST) Regulations, 2011.
- Copy of Newspaper Publication
2026-07-25 - Ganga Forging Limited has informed the Exchange about Copy of Newspaper Publication
Annual Reports
Credit Ratings
Nothing filed yet.
Concalls
Nothing filed yet.