Kalyani Forge Ltd.
•₹ 691.50.07%
2026-08-21
PROS
- Latest quarter profit grew 217.7% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.31x)
- Working capital cycle has improved - days down from 62 to 43
- Company has a consistent dividend-paying track record
- Attractively priced for its growth - PEG of 0.6
CONS
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on equity of 5.1% over last 3 years
- Company has a low return on capital employed of 8.3%
- Free cash flow has been persistently negative
- Company has delivered a poor sales growth of 3.3% over past five years
* 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 59 | 61 | 60 | 57 | 57 | 62 | 59 | 59 | 64 | 56 | 58 | 57 | 67 | |
| 54 | 56 | 57 | 56 | 53 | 55 | 53 | 53 | 58 | 49 | 49 | 50 | 61 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 0 | 1 | 2 | 1 | 1 | 1 | 1 | 0 | 0 | 1 | 0 | 2 | 0 |
| Interest | 1 | 1 | 2 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 3 | 0 | 2 |
| Depreciation | 3 | 3 | 1 | -0 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 |
| 2 | 1 | 2 | 1 | 1 | 5 | 3 | 3 | 2 | 2 | 4 | 6 | 6 | |
| Tax % | 39.05% | -17.12% | 7.88% | 39.83% | 74.64% | 18.33% | 34.77% | 15.91% | 30.54% | 5.29% | 103.04% | 4.08% | 27.21% |
| Net Profit | 1 | 1 | 2 | 1 | 0 | 4 | 2 | 2 | 1 | 2 | -0 | 6 | 4 |
| 3 | 4 | 4 | 2 | 1 | 11 | 5 | 6 | 4 | 6 | -0 | 16 | 1 | |
| Equity Capital | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| 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 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| 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
- 59
- 54
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 1
- Depreciation
- 3
- 2
- Tax %
- 39.05%
- Net Profit
- 1
- 3
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 61
- 56
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 1
- Depreciation
- 3
- 1
- Tax %
- -17.12%
- Net Profit
- 1
- 4
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 60
- 57
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 2
- Depreciation
- 1
- 2
- Tax %
- 7.88%
- Net Profit
- 2
- 4
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 57
- 56
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 1
- Depreciation
- -0
- 1
- Tax %
- 39.83%
- Net Profit
- 1
- 2
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 57
- 53
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 1
- Depreciation
- 2
- 1
- Tax %
- 74.64%
- Net Profit
- 0
- 1
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 62
- 55
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 2
- Depreciation
- 2
- 5
- Tax %
- 18.33%
- Net Profit
- 4
- 11
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 59
- 53
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 2
- Depreciation
- 2
- 3
- Tax %
- 34.77%
- Net Profit
- 2
- 5
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 59
- 53
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 2
- Depreciation
- 2
- 3
- Tax %
- 15.91%
- Net Profit
- 2
- 6
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 64
- 58
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 2
- Depreciation
- 2
- 2
- Tax %
- 30.54%
- Net Profit
- 1
- 4
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 56
- 49
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 2
- Depreciation
- 2
- 2
- Tax %
- 5.29%
- Net Profit
- 2
- 6
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 58
- 49
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 3
- Depreciation
- 2
- 4
- Tax %
- 103.04%
- Net Profit
- -0
- -0
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 57
- 50
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 0
- Depreciation
- 3
- 6
- Tax %
- 4.08%
- Net Profit
- 6
- 16
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 67
- 61
- Operating Profit
- —
- OPM %
- —
- Other Income
- 0
- Interest
- 2
- Depreciation
- 3
- 6
- Tax %
- 27.21%
- Net Profit
- 4
- 1
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 231 | 227 | 259 | 286 | 201 | 181 | 247 | 266 | 237 | 237 | 237 | |
| 215 | 212 | 237 | 261 | 193 | 169 | 228 | 255 | 223 | 213 | 209 | |
| Operating Profit | 19 | 19 | 29 | 32 | 11 | 14 | 20 | 18 | 18 | 27 | — |
| OPM % | 8 | 9 | 11 | 11 | 6 | 8 | 8 | 7 | 7 | 11 | — |
| Other Income | 3 | 5 | 7 | 6 | 3 | 2 | 1 | 7 | 4 | 3 | 3 |
| Interest | 5 | 4 | 6 | 8 | 5 | 3 | 4 | 3 | 6 | 7 | 7 |
| Depreciation | 12 | 10 | 13 | 15 | 14 | 13 | 12 | 11 | 6 | 8 | 11 |
| 2 | 5 | 9 | 10 | -8 | -2 | 4 | 1 | 6 | 12 | 19 | |
| Tax % | 46 | 33 | 29 | 28 | 15 | 15 | 22 | 114 | 19 | 28 | 33 |
| Net Profit | 1 | 3 | 7 | 7 | -7 | -2 | 3 | -0 | 5 | 8 | 12 |
| EPS | 0 | 0 | 0 | 0 | 0 | -5 | 9 | -0 | 13 | 23 | — |
| Dividend Payout % | 66 | 31 | 19 | 21 | -5 | -31 | 35 | -594 | 24 | 18 | — |
| 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 | 3 | 10 | 18 | 19 | -19 | -5 | 9 | -1 | 13 | 23 | — |
| 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 | 3 | 10 | 18 | 19 | -19 | -5 | 9 | -1 | 13 | 23 | — |
Mar 2016
- 231
- 215
- Operating Profit
- 19
- OPM %
- 8
- Other Income
- 3
- Interest
- 5
- Depreciation
- 12
- 2
- Tax %
- 46
- Net Profit
- 1
- EPS
- 0
- Dividend Payout %
- 66
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 3
Mar 2017
- 227
- 212
- Operating Profit
- 19
- OPM %
- 9
- Other Income
- 5
- Interest
- 4
- Depreciation
- 10
- 5
- Tax %
- 33
- Net Profit
- 3
- EPS
- 0
- Dividend Payout %
- 31
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 10
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 10
Mar 2018
- 259
- 237
- Operating Profit
- 29
- OPM %
- 11
- Other Income
- 7
- Interest
- 6
- Depreciation
- 13
- 9
- Tax %
- 29
- Net Profit
- 7
- EPS
- 0
- Dividend Payout %
- 19
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 18
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 18
Mar 2019
- 286
- 261
- Operating Profit
- 32
- OPM %
- 11
- Other Income
- 6
- Interest
- 8
- Depreciation
- 15
- 10
- Tax %
- 28
- Net Profit
- 7
- EPS
- 0
- Dividend Payout %
- 21
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 19
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 19
Mar 2020
- 201
- 193
- Operating Profit
- 11
- OPM %
- 6
- Other Income
- 3
- Interest
- 5
- Depreciation
- 14
- -8
- Tax %
- 15
- Net Profit
- -7
- EPS
- 0
- Dividend Payout %
- -5
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -19
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -19
Mar 2021
- 181
- 169
- Operating Profit
- 14
- OPM %
- 8
- Other Income
- 2
- Interest
- 3
- Depreciation
- 13
- -2
- Tax %
- 15
- Net Profit
- -2
- EPS
- -5
- Dividend Payout %
- -31
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -5
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -5
Mar 2022
- 247
- 228
- Operating Profit
- 20
- OPM %
- 8
- Other Income
- 1
- Interest
- 4
- Depreciation
- 12
- 4
- Tax %
- 22
- Net Profit
- 3
- EPS
- 9
- Dividend Payout %
- 35
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 9
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 9
Mar 2023
- 266
- 255
- Operating Profit
- 18
- OPM %
- 7
- Other Income
- 7
- Interest
- 3
- Depreciation
- 11
- 1
- Tax %
- 114
- Net Profit
- -0
- EPS
- -0
- Dividend Payout %
- -594
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -1
Mar 2024
- 237
- 223
- Operating Profit
- 18
- OPM %
- 7
- Other Income
- 4
- Interest
- 6
- Depreciation
- 6
- 6
- Tax %
- 19
- Net Profit
- 5
- EPS
- 13
- Dividend Payout %
- 24
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 13
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 13
Mar 2025
- 237
- 213
- Operating Profit
- 27
- OPM %
- 11
- Other Income
- 3
- Interest
- 7
- Depreciation
- 8
- 12
- Tax %
- 28
- Net Profit
- 8
- EPS
- 23
- Dividend Payout %
- 18
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 23
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 23
TTM
- 237
- 209
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 7
- Depreciation
- 11
- 19
- Tax %
- 33
- Net Profit
- 12
- 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:
- 0%
- 5 Years:
- 3%
- 3 Years:
- -1%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 38%
STOCK PRICE CAGR
- 10 Years:
- 10%
- 5 Years:
- 27%
- 3 Years:
- 35%
- 1 Year:
- -1%
RETURN ON EQUITY
- 10 Years:
- 3%
- 5 Years:
- 3%
- 3 Years:
- 5%
- Last Year:
- 10%
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 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| 94 | 98 | 103 | 108 | 98 | 97 | 99 | 74 | 78 | 86 | |
| 35 | 41 | 40 | 31 | 24 | 26 | 26 | 37 | 41 | 59 | |
| Trade Payables | 40 | 42 | 50 | 48 | 35 | 36 | 34 | 44 | 46 | 51 |
| 25 | 50 | 39 | 36 | 22 | 19 | 17 | 17 | 32 | 28 | |
| Total Liabilities | 198 | 235 | 235 | 227 | 182 | 181 | 180 | 176 | 201 | 228 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 64 | 60 | 84 | 78 | 65 | 53 | 44 | 39 | 56 | 61 | |
| Capital Work in Progress | 8 | 30 | 5 | 0 | 1 | 1 | 2 | 3 | 5 | 15 |
| 37 | 45 | 48 | 48 | 40 | 45 | 49 | 47 | 56 | 57 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 62 | 81 | |
| Cash & Bank | 10 | 2 | 5 | 5 | 6 | 3 | 5 | 5 | 6 | 3 |
| 79 | 98 | 93 | 95 | 70 | 79 | 80 | 81 | 16 | 11 | |
| Total Assets | 198 | 235 | 235 | 227 | 182 | 181 | 180 | 176 | 201 | 228 |
| Total Debt | 41 | 63 | 63 | 47 | 31 | 27 | 26 | 38 | 61 | 72 |
| Net Working Capital | 29 | 13 | 30 | 38 | 35 | 45 | 55 | 37 | 40 | 28 |
| Contingent Liabilities | 13 | 20 | 12 | 12 | 11 | 5 | 5 | 8 | 8 | 6 |
| Book Value per Share | 268.41 | 280.40 | 293.51 | 306.66 | 280.71 | 275.40 | 282.95 | 213.58 | 225.42 | 246.53 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Total Debt | 41 | 63 | 63 | 47 | 31 | 27 | 26 | 38 | 61 | 72 |
| Net Working Capital | 29 | 13 | 30 | 38 | 35 | 45 | 55 | 37 | 40 | 28 |
| Contingent Liabilities | 13 | 20 | 12 | 12 | 11 | 5 | 5 | 8 | 8 | 6 |
| Book Value per Share | 268.41 | 280.40 | 293.51 | 306.66 | 280.71 | 275.40 | 282.95 | 213.58 | 225.42 | 246.53 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
Mar 2016
- Equity Capital
- 4
- 94
- 35
- Trade Payables
- 40
- 25
- Total Liabilities
- 198
- 64
- Capital Work in Progress
- 8
- 37
- 0
- Cash & Bank
- 10
- 79
- Total Assets
- 198
- Total Debt
- 41
- Net Working Capital
- 29
- Contingent Liabilities
- 13
- Book Value per Share
- 268.41
- Face Value
- 10.00
- Total Debt
- 41
- Net Working Capital
- 29
- Contingent Liabilities
- 13
- Book Value per Share
- 268.41
- Face Value
- 10.00
Mar 2017
- Equity Capital
- 4
- 98
- 41
- Trade Payables
- 42
- 50
- Total Liabilities
- 235
- 60
- Capital Work in Progress
- 30
- 45
- 0
- Cash & Bank
- 2
- 98
- Total Assets
- 235
- Total Debt
- 63
- Net Working Capital
- 13
- Contingent Liabilities
- 20
- Book Value per Share
- 280.40
- Face Value
- 10.00
- Total Debt
- 63
- Net Working Capital
- 13
- Contingent Liabilities
- 20
- Book Value per Share
- 280.40
- Face Value
- 10.00
Mar 2018
- Equity Capital
- 4
- 103
- 40
- Trade Payables
- 50
- 39
- Total Liabilities
- 235
- 84
- Capital Work in Progress
- 5
- 48
- 0
- Cash & Bank
- 5
- 93
- Total Assets
- 235
- Total Debt
- 63
- Net Working Capital
- 30
- Contingent Liabilities
- 12
- Book Value per Share
- 293.51
- Face Value
- 10.00
- Total Debt
- 63
- Net Working Capital
- 30
- Contingent Liabilities
- 12
- Book Value per Share
- 293.51
- Face Value
- 10.00
Mar 2019
- Equity Capital
- 4
- 108
- 31
- Trade Payables
- 48
- 36
- Total Liabilities
- 227
- 78
- Capital Work in Progress
- 0
- 48
- 0
- Cash & Bank
- 5
- 95
- Total Assets
- 227
- Total Debt
- 47
- Net Working Capital
- 38
- Contingent Liabilities
- 12
- Book Value per Share
- 306.66
- Face Value
- 10.00
- Total Debt
- 47
- Net Working Capital
- 38
- Contingent Liabilities
- 12
- Book Value per Share
- 306.66
- Face Value
- 10.00
Mar 2020
- Equity Capital
- 4
- 98
- 24
- Trade Payables
- 35
- 22
- Total Liabilities
- 182
- 65
- Capital Work in Progress
- 1
- 40
- 0
- Cash & Bank
- 6
- 70
- Total Assets
- 182
- Total Debt
- 31
- Net Working Capital
- 35
- Contingent Liabilities
- 11
- Book Value per Share
- 280.71
- Face Value
- 10.00
- Total Debt
- 31
- Net Working Capital
- 35
- Contingent Liabilities
- 11
- Book Value per Share
- 280.71
- Face Value
- 10.00
Mar 2021
- Equity Capital
- 4
- 97
- 26
- Trade Payables
- 36
- 19
- Total Liabilities
- 181
- 53
- Capital Work in Progress
- 1
- 45
- 0
- Cash & Bank
- 3
- 79
- Total Assets
- 181
- Total Debt
- 27
- Net Working Capital
- 45
- Contingent Liabilities
- 5
- Book Value per Share
- 275.40
- Face Value
- 10.00
- Total Debt
- 27
- Net Working Capital
- 45
- Contingent Liabilities
- 5
- Book Value per Share
- 275.40
- Face Value
- 10.00
Mar 2022
- Equity Capital
- 4
- 99
- 26
- Trade Payables
- 34
- 17
- Total Liabilities
- 180
- 44
- Capital Work in Progress
- 2
- 49
- 0
- Cash & Bank
- 5
- 80
- Total Assets
- 180
- Total Debt
- 26
- Net Working Capital
- 55
- Contingent Liabilities
- 5
- Book Value per Share
- 282.95
- Face Value
- 10.00
- Total Debt
- 26
- Net Working Capital
- 55
- Contingent Liabilities
- 5
- Book Value per Share
- 282.95
- Face Value
- 10.00
Mar 2023
- Equity Capital
- 4
- 74
- 37
- Trade Payables
- 44
- 17
- Total Liabilities
- 176
- 39
- Capital Work in Progress
- 3
- 47
- 0
- Cash & Bank
- 5
- 81
- Total Assets
- 176
- Total Debt
- 38
- Net Working Capital
- 37
- Contingent Liabilities
- 8
- Book Value per Share
- 213.58
- Face Value
- 10.00
- Total Debt
- 38
- Net Working Capital
- 37
- Contingent Liabilities
- 8
- Book Value per Share
- 213.58
- Face Value
- 10.00
Mar 2024
- Equity Capital
- 4
- 78
- 41
- Trade Payables
- 46
- 32
- Total Liabilities
- 201
- 56
- Capital Work in Progress
- 5
- 56
- 62
- Cash & Bank
- 6
- 16
- Total Assets
- 201
- Total Debt
- 61
- Net Working Capital
- 40
- Contingent Liabilities
- 8
- Book Value per Share
- 225.42
- Face Value
- 10.00
- Total Debt
- 61
- Net Working Capital
- 40
- Contingent Liabilities
- 8
- Book Value per Share
- 225.42
- Face Value
- 10.00
Mar 2025
- Equity Capital
- 4
- 86
- 59
- Trade Payables
- 51
- 28
- Total Liabilities
- 228
- 61
- Capital Work in Progress
- 15
- 57
- 81
- Cash & Bank
- 3
- 11
- Total Assets
- 228
- Total Debt
- 72
- Net Working Capital
- 28
- Contingent Liabilities
- 6
- Book Value per Share
- 246.53
- Face Value
- 10.00
- Total Debt
- 72
- Net Working Capital
- 28
- Contingent Liabilities
- 6
- Book Value per Share
- 246.53
- Face Value
- 10.00
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 19 | 15 | 12 | 30 | 24 | 7 | 11 | -2 | 10 | 22 | |
| Cash from Investing | -5 | -41 | -2 | -7 | -1 | -1 | -4 | -6 | -26 | -24 |
| Cash from Financing | -11 | 19 | -8 | -25 | -23 | -7 | -5 | 8 | 16 | 3 |
| 3 | -7 | 2 | -2 | -0 | -1 | 2 | -1 | -0 | 0 | |
| Free Cash Flow | 15 | 15 | 0 | 25 | 23 | 7 | 11 | -8 | -164 | 7 |
| OCF / Net Profit | 17.43 | 4.44 | 1.88 | 4.30 | -3.48 | -4.22 | 3.55 | 13.61 | 2.20 | 2.63 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 79 | 71 | 67 | 58 | -131 | -147 |
| OCF / Net Profit | 17.43 | 4.44 | 1.88 | 4.30 | -3.48 | -4.22 | 3.55 | 13.61 | 2.20 | 2.63 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 79 | 71 | 67 | 58 | -131 | -147 |
Mar 2016
- 19
- Cash from Investing
- -5
- Cash from Financing
- -11
- 3
- Free Cash Flow
- 15
- OCF / Net Profit
- 17.43
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 17.43
- Cumulative 5-Year FCF
- 0
Mar 2017
- 15
- Cash from Investing
- -41
- Cash from Financing
- 19
- -7
- Free Cash Flow
- 15
- OCF / Net Profit
- 4.44
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 4.44
- Cumulative 5-Year FCF
- 0
Mar 2018
- 12
- Cash from Investing
- -2
- Cash from Financing
- -8
- 2
- Free Cash Flow
- 0
- OCF / Net Profit
- 1.88
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.88
- Cumulative 5-Year FCF
- 0
Mar 2019
- 30
- Cash from Investing
- -7
- Cash from Financing
- -25
- -2
- Free Cash Flow
- 25
- OCF / Net Profit
- 4.30
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 4.30
- Cumulative 5-Year FCF
- 0
Mar 2020
- 24
- Cash from Investing
- -1
- Cash from Financing
- -23
- -0
- Free Cash Flow
- 23
- OCF / Net Profit
- -3.48
- Cumulative 5-Year FCF
- 79
- OCF / Net Profit
- -3.48
- Cumulative 5-Year FCF
- 79
Mar 2021
- 7
- Cash from Investing
- -1
- Cash from Financing
- -7
- -1
- Free Cash Flow
- 7
- OCF / Net Profit
- -4.22
- Cumulative 5-Year FCF
- 71
- OCF / Net Profit
- -4.22
- Cumulative 5-Year FCF
- 71
Mar 2022
- 11
- Cash from Investing
- -4
- Cash from Financing
- -5
- 2
- Free Cash Flow
- 11
- OCF / Net Profit
- 3.55
- Cumulative 5-Year FCF
- 67
- OCF / Net Profit
- 3.55
- Cumulative 5-Year FCF
- 67
Mar 2023
- -2
- Cash from Investing
- -6
- Cash from Financing
- 8
- -1
- Free Cash Flow
- -8
- OCF / Net Profit
- 13.61
- Cumulative 5-Year FCF
- 58
- OCF / Net Profit
- 13.61
- Cumulative 5-Year FCF
- 58
Mar 2024
- 10
- Cash from Investing
- -26
- Cash from Financing
- 16
- -0
- Free Cash Flow
- -164
- OCF / Net Profit
- 2.20
- Cumulative 5-Year FCF
- -131
- OCF / Net Profit
- 2.20
- Cumulative 5-Year FCF
- -131
Mar 2025
- 22
- Cash from Investing
- -24
- Cash from Financing
- 3
- 0
- Free Cash Flow
- 7
- OCF / Net Profit
- 2.63
- Cumulative 5-Year FCF
- -147
- OCF / Net Profit
- 2.63
- Cumulative 5-Year FCF
- -147
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 (₹) | 3.03 | 9.57 | 18.04 | 19.14 | -19.04 | -4.84 | 8.61 | -0.50 | 12.51 | 22.86 |
| Book Value (₹) | 268.41 | 280.40 | 293.51 | 306.66 | 280.71 | 275.40 | 282.95 | 213.58 | 225.42 | 246.53 |
| Dividend per Share (₹) | 2.00 | 3.00 | 3.50 | 4.00 | 1.00 | 1.50 | 3.00 | 3.00 | 3.00 | 4.00 |
| Cash EPS (₹) | 35.11 | 38.19 | 53.63 | 60.48 | 19.14 | 30.41 | 42.54 | 30.26 | 29.60 | 44.49 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 7.26% | 7.69% | 10.79% | 11.27% | 5.54% | 7.65% | 8.11% | 6.64% | 5.85% | 10.09% |
| Net Margin % | 0.43% | 1.38% | 2.47% | 2.43% | -3.45% | -0.97% | 1.27% | -0.07% | 1.92% | 3.51% |
| ROE % | 1.13% | 3.49% | 6.29% | 6.38% | -6.48% | -1.74% | 3.08% | -0.20% | 5.70% | 9.69% |
| ROCE % | 4.92% | 5.90% | 9.36% | 10.49% | -1.89% | 0.77% | 5.95% | 3.79% | 8.90% | 12.26% |
| 0.55% | 1.61% | 2.79% | 3.02% | -3.39% | -0.97% | 1.74% | -0.10% | 2.41% | 3.87% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 87 | 89 | 91 | 93 | 120 | 125 | 104 | 101 | 105 | 110 |
| Inventory Days | 51 | 59 | 64 | 61 | 80 | 86 | 69 | 66 | 80 | 87 |
| Payable Days | 127 | 143 | 132 | 125 | 146 | 139 | 97 | 95 | 144 | 157 |
| 11 | 5 | 23 | 29 | 53 | 72 | 76 | 73 | 41 | 40 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.42x | 0.62x | 0.59x | 0.42x | 0.31x | 0.27x | 0.26x | 0.49x | 0.74x | 0.80x |
| Interest Coverage (x) | 1.41x | 2.38x | 2.42x | 2.27x | -0.51x | 0.33x | 2.11x | 1.38x | 1.95x | 2.65x |
| 1.31x | 1.11x | 1.28x | 1.36x | 1.46x | 1.58x | 1.74x | 1.39x | 1.42x | 1.23x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | -4.10% | -1.77% | 13.98% | 10.75% | -29.82% | -10.03% | 36.35% | 7.84% | -10.93% | -0.06% |
| Operating Profit Growth % | 13.81% | 4.08% | 47.71% | 12.65% | -65.49% | 24.25% | 44.52% | -11.67% | 0.43% | 49.50% |
| Net Profit Growth % | 148.77% | 215.73% | 88.44% | 6.09% | -199.45% | 74.58% | 277.96% | -105.86% | 2576.92% | 82.74% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 2576.91% | 82.74% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 32.49x | 21.70x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 1.80x | 2.01x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.74% | 0.81% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 11.44x | 9.40x |
Mar 2016
- EPS (₹)
- 3.03
- Book Value (₹)
- 268.41
- Dividend per Share (₹)
- 2.00
- Cash EPS (₹)
- 35.11
- Operating Margin %
- 7.26%
- Net Margin %
- 0.43%
- ROE %
- 1.13%
- ROCE %
- 4.92%
- 0.55%
- Debtor Days
- 87
- Inventory Days
- 51
- Payable Days
- 127
- 11
- Debt to Equity (x)
- 0.42x
- Interest Coverage (x)
- 1.41x
- 1.31x
- Revenue Growth %
- -4.10%
- Operating Profit Growth %
- 13.81%
- Net Profit Growth %
- 148.77%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2017
- EPS (₹)
- 9.57
- Book Value (₹)
- 280.40
- Dividend per Share (₹)
- 3.00
- Cash EPS (₹)
- 38.19
- Operating Margin %
- 7.69%
- Net Margin %
- 1.38%
- ROE %
- 3.49%
- ROCE %
- 5.90%
- 1.61%
- Debtor Days
- 89
- Inventory Days
- 59
- Payable Days
- 143
- 5
- Debt to Equity (x)
- 0.62x
- Interest Coverage (x)
- 2.38x
- 1.11x
- Revenue Growth %
- -1.77%
- Operating Profit Growth %
- 4.08%
- Net Profit Growth %
- 215.73%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- 18.04
- Book Value (₹)
- 293.51
- Dividend per Share (₹)
- 3.50
- Cash EPS (₹)
- 53.63
- Operating Margin %
- 10.79%
- Net Margin %
- 2.47%
- ROE %
- 6.29%
- ROCE %
- 9.36%
- 2.79%
- Debtor Days
- 91
- Inventory Days
- 64
- Payable Days
- 132
- 23
- Debt to Equity (x)
- 0.59x
- Interest Coverage (x)
- 2.42x
- 1.28x
- Revenue Growth %
- 13.98%
- Operating Profit Growth %
- 47.71%
- Net Profit Growth %
- 88.44%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- 19.14
- Book Value (₹)
- 306.66
- Dividend per Share (₹)
- 4.00
- Cash EPS (₹)
- 60.48
- Operating Margin %
- 11.27%
- Net Margin %
- 2.43%
- ROE %
- 6.38%
- ROCE %
- 10.49%
- 3.02%
- Debtor Days
- 93
- Inventory Days
- 61
- Payable Days
- 125
- 29
- Debt to Equity (x)
- 0.42x
- Interest Coverage (x)
- 2.27x
- 1.36x
- Revenue Growth %
- 10.75%
- Operating Profit Growth %
- 12.65%
- Net Profit Growth %
- 6.09%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- -19.04
- Book Value (₹)
- 280.71
- Dividend per Share (₹)
- 1.00
- Cash EPS (₹)
- 19.14
- Operating Margin %
- 5.54%
- Net Margin %
- -3.45%
- ROE %
- -6.48%
- ROCE %
- -1.89%
- -3.39%
- Debtor Days
- 120
- Inventory Days
- 80
- Payable Days
- 146
- 53
- Debt to Equity (x)
- 0.31x
- Interest Coverage (x)
- -0.51x
- 1.46x
- Revenue Growth %
- -29.82%
- Operating Profit Growth %
- -65.49%
- Net Profit Growth %
- -199.45%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- -4.84
- Book Value (₹)
- 275.40
- Dividend per Share (₹)
- 1.50
- Cash EPS (₹)
- 30.41
- Operating Margin %
- 7.65%
- Net Margin %
- -0.97%
- ROE %
- -1.74%
- ROCE %
- 0.77%
- -0.97%
- Debtor Days
- 125
- Inventory Days
- 86
- Payable Days
- 139
- 72
- Debt to Equity (x)
- 0.27x
- Interest Coverage (x)
- 0.33x
- 1.58x
- Revenue Growth %
- -10.03%
- Operating Profit Growth %
- 24.25%
- Net Profit Growth %
- 74.58%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 8.61
- Book Value (₹)
- 282.95
- Dividend per Share (₹)
- 3.00
- Cash EPS (₹)
- 42.54
- Operating Margin %
- 8.11%
- Net Margin %
- 1.27%
- ROE %
- 3.08%
- ROCE %
- 5.95%
- 1.74%
- Debtor Days
- 104
- Inventory Days
- 69
- Payable Days
- 97
- 76
- Debt to Equity (x)
- 0.26x
- Interest Coverage (x)
- 2.11x
- 1.74x
- Revenue Growth %
- 36.35%
- Operating Profit Growth %
- 44.52%
- Net Profit Growth %
- 277.96%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- -0.50
- Book Value (₹)
- 213.58
- Dividend per Share (₹)
- 3.00
- Cash EPS (₹)
- 30.26
- Operating Margin %
- 6.64%
- Net Margin %
- -0.07%
- ROE %
- -0.20%
- ROCE %
- 3.79%
- -0.10%
- Debtor Days
- 101
- Inventory Days
- 66
- Payable Days
- 95
- 73
- Debt to Equity (x)
- 0.49x
- Interest Coverage (x)
- 1.38x
- 1.39x
- Revenue Growth %
- 7.84%
- Operating Profit Growth %
- -11.67%
- Net Profit Growth %
- -105.86%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 12.51
- Book Value (₹)
- 225.42
- Dividend per Share (₹)
- 3.00
- Cash EPS (₹)
- 29.60
- Operating Margin %
- 5.85%
- Net Margin %
- 1.92%
- ROE %
- 5.70%
- ROCE %
- 8.90%
- 2.41%
- Debtor Days
- 105
- Inventory Days
- 80
- Payable Days
- 144
- 41
- Debt to Equity (x)
- 0.74x
- Interest Coverage (x)
- 1.95x
- 1.42x
- Revenue Growth %
- -10.93%
- Operating Profit Growth %
- 0.43%
- Net Profit Growth %
- 2576.92%
- 2576.91%
- P/E (x)
- 32.49x
- P/B (x)
- 1.80x
- Dividend Yield %
- 0.74%
- 11.44x
Mar 2025
- EPS (₹)
- 22.86
- Book Value (₹)
- 246.53
- Dividend per Share (₹)
- 4.00
- Cash EPS (₹)
- 44.49
- Operating Margin %
- 10.09%
- Net Margin %
- 3.51%
- ROE %
- 9.69%
- ROCE %
- 12.26%
- 3.87%
- Debtor Days
- 110
- Inventory Days
- 87
- Payable Days
- 157
- 40
- Debt to Equity (x)
- 0.80x
- Interest Coverage (x)
- 2.65x
- 1.23x
- Revenue Growth %
- -0.06%
- Operating Profit Growth %
- 49.50%
- Net Profit Growth %
- 82.74%
- 82.74%
- P/E (x)
- 21.70x
- P/B (x)
- 2.01x
- Dividend Yield %
- 0.81%
- 9.40x
Documents
Announcements
- Record Date
2026-08-13 - Kalyani Forge Limited has informed the Exchange that Record date for the purpose of Dividend is 21-Aug-2026.
- Copy of Newspaper Publication
2026-08-13 - Kalyani Forge Limited has informed the Exchange about Copy of Newspaper Publication
Annual Reports
Credit Ratings
Nothing filed yet.
Concalls
Aug 2026
Jun 2026
May 2026