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Balu Forge Industries BALUFORGE.NS · INR

Industrials · NSE · 🇮🇳 India

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529.60

+5.56%

Close of 9 Nov 2026, in INR

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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.

At a glance

Figures in INR, from our data supplier.

FY2026

Revenue

₹11.07bn

FY2017FY2026

Net income

₹2.59bn

FY2017FY2026

Free cash flow

−₹1.89bn

FY2017FY2026

Shareholders' equity

₹15.95bn

FY2017FY2026

Income statement

Fiscal years

FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Revenue₹11.07bn₹9.24bn₹5.53bn₹3.27bn₹2.76bn₹1.38bn₹2.0m₹1.8m₹2.0m₹1.2m
Research and development—₹14.0m₹11.5m₹10.4m₹9.5m₹15.0m————
Operating income₹3.23bn₹2.65bn₹1.18bn₹536.8m₹486.9m₹67.4m₹623,000₹663,500₹864,229−₹440,000
Net income₹2.59bn₹2.04bn₹936.7m₹389.1m₹298.4m₹76.2m₹406,000₹1.9m₹680,833₹348,394
Diluted earnings per share21.3317.958.243.933.570.920.015.391.951.00

Balance sheet

At each fiscal year end

FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Total assets₹18.51bn₹12.52bn₹7.12bn₹3.71bn₹2.84bn₹1.71bn₹4.1m₹3.3m₹2.0m₹1.2m
Cash and short-term investments₹890.0m₹1.03bn₹908.6m₹78.9m₹71.1m₹30.6m₹1.3m₹1.7m₹58,727₹288,636
Total liabilities₹2.56bn₹1.99bn₹1.59bn₹1.73bn₹1.26bn₹938.5m₹666,000₹260,484₹844,265₹736,582
Debt₹1.52bn₹397.8m₹487.9m₹518.7m₹473.9m₹260.0m——₹500,000₹500,000
Shareholders' equity₹15.95bn₹10.53bn₹5.53bn₹1.98bn₹1.59bn₹775.1m−₹24,000₹3.0m₹1.1m₹506,938
Shares outstanding121m114m114m99m84m83m57m0m0m0m

Cash flow

Fiscal years

FY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Cash from operations₹182.7m₹1.48bn−₹179.7m₹261.6m−₹577.4m₹173.3m₹445,000₹2.1m−₹229,909−₹63,735
Capital spending−₹2.07bn−₹4.16bn−₹1.48bn−₹212.5m−₹76.7m−₹32.3m————
Free cash flow−₹1.89bn−₹2.68bn−₹1.66bn₹49.1m−₹654.1m₹141.0m₹445,000₹2.1m−₹229,909−₹63,735
Dividends paid−₹16.8m−₹15.7m——−₹7.4m—————

Latest quarters

By quarter end

Jun 2026Mar 2026Dec 2025Sept 2025Jun 2025Mar 2025Dec 2024Sept 2024
Revenue₹3.01bn₹2.64bn₹3.11bn₹3.00bn₹2.33bn₹2.70bn₹2.56bn₹2.23bn
Operating income₹814.6m₹567.3m₹816.1m₹806.6m₹705.9m₹741.1m₹668.5m₹643.9m
Net income₹660.9m₹657.4m₹710.9m₹650.4m₹570.3m₹626.9m₹590.1m₹481.4m
Diluted earnings per share5.445.426.265.735.025.525.194.23
Cash from operations———₹403.0m————
Capital spending———−₹1.91bn————
Free cash flow———−₹1.50bn————
Total assets—₹18.51bn—₹15.24bn—₹12.52bn—₹11.10bn
Cash and short-term investments₹890.0m₹890.0m₹378.2m₹378.2m₹962.1m₹1.03bn₹2.34bn₹2.34bn
Debt—₹1.32bn—₹671.6m—₹397.8m—₹556.4m
Shareholders' equity₹15.95bn₹15.95bn₹12.49bn₹12.49bn₹10.53bn₹10.53bn₹9.13bn₹9.13bn

Financial ratios

Data as of 15 Sept 2026

FY2026FY2025FY2024FY2023FY2022FY2021
Operating margin29.1%28.7%21.3%16.4%17.6%11.9%
Net margin23.4%22.1%16.9%11.9%10.8%5.5%
Return on equity16.2%19.4%16.9%19.7%18.8%9.8%
Return on assets14.0%16.3%13.1%10.5%10.5%4.4%
Free cash flow yield3.7%10.0%2.3%1.0%-1.2%0.5%
Revenue growth19.9%67.0%69.3%18.4%100.3%67547.6%
Earnings growth27.0%117.6%140.7%30.4%291.7%18665.5%
Current ratio3.54x3.19x3.69x1.86x2.00x1.58x
Debt to equity0.08x0.04x0.09x0.26x0.30x0.18x
Equity ratio86.2%84.1%77.6%53.3%55.8%45.2%
Interest coverage19.60x24.18x8.66x5.10x9.30x2.48x
R&D as a share of sales—0.2%0.2%0.3%0.3%1.1%
Buybacks as a share of market value-6.9%0.1%-14.8%-18.5%-0.7%-44.4%

Growth per year

Compound annual rate

3 years5 years10 years
Revenue50.2%51.7%174.8%
Operating income81.8%116.7%140.3%
Net income88.1%102.4%—

Average margins

Over each period

1 year3 years5 years10 years
Operating margin28.9%26.1%24.5%24.5%
Net margin22.8%20.5%19.0%19.0%

Valuation history

At each fiscal year end

FY2026FY2025FY2024
Price to earnings23.933.796.0
Price to sales5.67.416.3

Dividends and splits

Per share, in the currency the company pays

Paid for 2 years. Last went ex-dividend on 19 Sept 2025.

FY2026FY2025FY2022
Paid in the year0.150.150.10

Sources and methodology

Data on this tab
Our data supplier
Chart on the Overview
TradingView

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