Market Cap ₹3018 Cr.
Stock P/E 22.6
P/B 3.7
Current Price ₹625
Book Value ₹ 168.4
Face Value 10
52W High ₹725
Dividend Yield 1.28%
52W Low ₹ 415.5
MM Forgings Ltd is engaged inside the manufacture of metal forgings. The Company is a producer of automotive components. It manufactures metallic forgings in raw, semi-machined and completely machined stages in various grades of carbon, alloy, micro-alloy and stainless steels in the weight variety of 0.20 kilograms to 60 kilograms. The Company's manufacturing plants are positioned at Singampunari in Pasumpon Muthuramalingam District, Viralimalai in Pudukkottai District and Karainaithangal Village in Kanchipuram District, all in the state of Tamil Nadu. The Company has its Wind Farm at Panakudi Village in Tirunelveli District and at Meenakshipuram in Theni District. Its solar plant is positioned in Bommakkotai, Kalayar Karisalkulam Village. The Company has a battery of forging presses inside the variety of 1,600 lots (T) to 4,000 T. It has a battery of about 10 hammers with capacities starting from 0.75 T to 6 T. It has both friction drop hammers (belt kind) and air hammer.
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| #(Fig in Cr.) | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 296 | 324 | 344 | 358 | 372 | 388 | 370 | 397 | 399 | 397 |
| Other Income | 3 | 4 | -0 | 4 | 4 | 5 | 5 | 4 | 5 | 6 |
| Total Income | 299 | 328 | 344 | 361 | 376 | 393 | 375 | 401 | 404 | 403 |
| Total Expenditure | 239 | 268 | 281 | 291 | 299 | 319 | 305 | 322 | 323 | 320 |
| Operating Profit | 60 | 60 | 63 | 71 | 77 | 74 | 71 | 79 | 81 | 83 |
| Interest | 8 | 6 | 7 | 7 | 8 | 7 | 10 | 9 | 11 | 13 |
| Depreciation | 17 | 17 | 18 | 20 | 21 | 21 | 21 | 21 | 21 | 20 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 35 | 37 | 38 | 43 | 49 | 46 | 40 | 49 | 49 | 50 |
| Provision for Tax | 7 | 29 | 9 | 11 | 13 | 16 | 11 | 14 | 15 | 14 |
| Profit After Tax | 29 | 7 | 28 | 33 | 36 | 31 | 29 | 35 | 33 | 36 |
| Adjustments | -0 | 0 | -0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 29 | 7 | 28 | 33 | 36 | 31 | 29 | 35 | 33 | 36 |
| Adjusted Earnings Per Share | 6 | 1.5 | 5.9 | 6.8 | 7.4 | 6.3 | 6 | 7.2 | 6.9 | 7.5 |
| #(Fig in Cr.) | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM |
|---|---|---|---|---|---|---|---|---|
| Net Sales | 639 | 934 | 769 | 752 | 1140 | 1462 | 1563 | 1563 |
| Other Income | 12 | 16 | 19 | 18 | 14 | 12 | 20 | 20 |
| Total Income | 651 | 950 | 788 | 770 | 1154 | 1474 | 1584 | 1583 |
| Total Expenditure | 509 | 754 | 637 | 623 | 931 | 1189 | 1270 | 1270 |
| Operating Profit | 142 | 196 | 151 | 146 | 223 | 285 | 313 | 314 |
| Interest | 13 | 32 | 38 | 32 | 28 | 30 | 42 | 43 |
| Depreciation | 46 | 58 | 60 | 65 | 68 | 79 | 83 | 83 |
| Exceptional Income / Expenses | -8 | 0 | 0 | 2 | 1 | 0 | 1 | 0 |
| Profit Before Tax | 74 | 106 | 53 | 52 | 129 | 177 | 189 | 188 |
| Provision for Tax | 14 | 27 | 11 | 6 | 38 | 49 | 54 | 54 |
| Profit After Tax | 61 | 79 | 42 | 46 | 91 | 128 | 135 | 133 |
| Adjustments | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 |
| Profit After Adjustments | 61 | 79 | 42 | 46 | 91 | 128 | 135 | 133 |
| Adjusted Earnings Per Share | 12.6 | 16.3 | 8.7 | 9.5 | 18.8 | 26.5 | 28 | 27.6 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 7% | 28% | 11% | 0% |
| Operating Profit CAGR | 10% | 29% | 10% | 0% |
| PAT CAGR | 5% | 43% | 11% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 29% | 20% | 26% | 27% |
| ROE Average | 18% | 19% | 15% | 17% |
| ROCE Average | 15% | 15% | 12% | 13% |
| #(Fig in Cr.) | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 363 | 427 | 455 | 487 | 560 | 673 | 789 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 168 | 396 | 335 | 297 | 350 | 332 | 387 |
| Other Non-Current Liabilities | 17 | 37 | 33 | 30 | 35 | 35 | 49 |
| Total Current Liabilities | 305 | 357 | 311 | 441 | 469 | 621 | 743 |
| Total Liabilities | 853 | 1218 | 1134 | 1256 | 1414 | 1661 | 1968 |
| Fixed Assets | 406 | 651 | 712 | 675 | 708 | 804 | 914 |
| Other Non-Current Assets | 48 | 67 | 63 | 63 | 87 | 116 | 188 |
| Total Current Assets | 399 | 500 | 358 | 518 | 619 | 740 | 866 |
| Total Assets | 853 | 1218 | 1134 | 1256 | 1414 | 1661 | 1968 |
| #(Fig in Cr.) | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 134 | 164 | 172 | 175 | 187 | 226 | 216 |
| Cash Flow from Operating Activities | 4 | 27 | 283 | 20 | 150 | 160 | 131 |
| Cash Flow from Investing Activities | -86 | -301 | -78 | -11 | -126 | -187 | -232 |
| Cash Flow from Financing Activities | 112 | 281 | -202 | 3 | 14 | 16 | 94 |
| Net Cash Inflow / Outflow | 30 | 8 | 3 | 12 | 39 | -10 | -6 |
| Closing Cash & Cash Equivalent | 164 | 172 | 175 | 187 | 226 | 216 | 209 |
| # | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 12.55 | 16.33 | 8.68 | 9.54 | 18.85 | 26.5 | 27.97 |
| CEPS(Rs) | 22.17 | 28.36 | 21.02 | 22.92 | 32.88 | 42.82 | 45.12 |
| DPS(Rs) | 2.5 | 2.5 | 2.5 | 2.5 | 3 | 3 | 4 |
| Book NAV/Share(Rs) | 75.1 | 88.49 | 94.24 | 100.9 | 115.89 | 139.39 | 163.36 |
| Core EBITDA Margin(%) | 20.35 | 19.25 | 17.18 | 17.11 | 18.31 | 18.66 | 18.73 |
| EBIT Margin(%) | 13.73 | 14.73 | 11.88 | 11.14 | 13.74 | 14.13 | 14.83 |
| Pre Tax Margin(%) | 11.61 | 11.35 | 6.9 | 6.87 | 11.31 | 12.11 | 12.12 |
| PAT Margin (%) | 9.49 | 8.44 | 5.45 | 6.12 | 7.98 | 8.75 | 8.64 |
| Cash Profit Margin (%) | 16.76 | 14.66 | 13.19 | 14.71 | 13.93 | 14.14 | 13.94 |
| ROA(%) | 11.07 | 7.61 | 3.56 | 3.85 | 6.82 | 8.32 | 7.44 |
| ROE(%) | 25.99 | 19.96 | 9.5 | 9.78 | 17.39 | 20.76 | 18.48 |
| ROCE(%) | 18.16 | 14.78 | 8.56 | 7.89 | 13.35 | 15.45 | 14.73 |
| Receivable days | 26.15 | 29.87 | 26.35 | 33.07 | 43.62 | 44.13 | 55.09 |
| Inventory Days | 45 | 62.83 | 78.44 | 76.39 | 61.29 | 63.62 | 75.97 |
| Payable days | 55.52 | 54.22 | 70.56 | 96.06 | 76.39 | 73.93 | 83.26 |
| PER(x) | 20.69 | 16.65 | 9.56 | 25.95 | 22.46 | 15.72 | 15.58 |
| Price/Book(x) | 3.46 | 3.07 | 0.88 | 2.45 | 3.65 | 2.99 | 2.67 |
| Dividend Yield(%) | 0.96 | 0.92 | 3.01 | 1.01 | 0.71 | 0.72 | 0.92 |
| EV/Net Sales(x) | 2.31 | 1.96 | 1.03 | 2.16 | 2.2 | 1.74 | 1.81 |
| EV/Core EBITDA(x) | 10.37 | 9.34 | 5.25 | 11.08 | 11.23 | 8.94 | 9.02 |
| Net Sales Growth(%) | 303.09 | 46.26 | -17.66 | -2.22 | 51.53 | 28.28 | 6.92 |
| EBIT Growth(%) | 382.41 | 57 | -33.59 | -8.36 | 86.92 | 31.9 | 12.24 |
| PAT Growth(%) | 481.73 | 30.11 | -46.83 | 9.87 | 97.56 | 40.61 | 5.54 |
| EPS Growth(%) | 481.73 | 30.11 | -46.83 | 9.87 | 97.56 | 40.61 | 5.54 |
| Debt/Equity(x) | 1.06 | 1.61 | 1.24 | 1.26 | 1.22 | 1.12 | 1.18 |
| Current Ratio(x) | 1.31 | 1.4 | 1.15 | 1.17 | 1.32 | 1.19 | 1.17 |
| Quick Ratio(x) | 0.89 | 0.85 | 0.71 | 0.77 | 0.88 | 0.7 | 0.7 |
| Interest Cover(x) | 6.5 | 4.36 | 2.39 | 2.61 | 5.65 | 6.99 | 5.48 |
| Total Debt/Mcap(x) | 0.31 | 0.52 | 1.41 | 0.51 | 0.33 | 0.38 | 0.44 |
| # | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 56.34 | 56.34 | 56.34 | 56.34 | 56.34 | 56.34 | 56.34 | 56.34 | 56.34 | 56.34 |
| FII | 0.78 | 0.82 | 0.91 | 1.16 | 1.65 | 1.64 | 1.72 | 1.93 | 2.28 | 2.84 |
| DII | 19.63 | 17.98 | 16.32 | 16.65 | 17.01 | 16.59 | 15.65 | 14.47 | 11.83 | 10.72 |
| Public | 23.26 | 24.86 | 26.44 | 25.86 | 25 | 25.43 | 26.29 | 27.27 | 29.55 | 30.1 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.36 | 1.36 | 1.36 | 1.36 | 1.36 | 1.36 | 1.36 | 1.36 | 1.36 | 1.36 |
| FII | 0.02 | 0.02 | 0.02 | 0.03 | 0.04 | 0.04 | 0.04 | 0.05 | 0.06 | 0.07 |
| DII | 0.47 | 0.43 | 0.39 | 0.4 | 0.41 | 0.4 | 0.38 | 0.35 | 0.29 | 0.26 |
| Public | 0.56 | 0.6 | 0.64 | 0.62 | 0.6 | 0.61 | 0.63 | 0.66 | 0.71 | 0.73 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 2.41 | 2.41 | 2.41 | 2.41 | 2.41 | 2.41 | 2.41 | 2.41 | 2.41 | 2.41 |
Pros
Cons
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| Companies | Open Date | Close Date | Issue Price | Cost of 1 Lot | GMP | Expected Listing | Listing Gain(%) | Listing Price | Current Price | Type | Exchange |
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| Companies | Open Date | Close Date | Issue Price | Cost of 1 Lot | GMP | Expected Listing | Listing Gain(%) | Listing Price | Current Price | Type | Exchange |
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| Companies | Open Date | Close Date | Issue Price | Cost of 1 Lot | GMP | Expected Listing | Listing Gain(%) | Listing Price | Current Price | Type | Exchange |
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| Companies | Open Date | Close Date | Issue Price | Cost of 1 Lot | GMP | Expected Listing | Listing Gain(%) | Listing Price | Current Price | Type | Exchange |
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| Companies | Open Date | Close Date | Issue Price | Cost of 1 Lot | GMP | Expected Listing | Listing Gain(%) | Listing Price | Current Price | Type | Exchange |
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