Is Kalyani Forge a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Kalyani Forge Ltd is a below average quality company .

Is Kalyani Forge undervalued or overvalued?

The key valuation ratios of Kalyani Forge Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone .

What is Kalyani Forge share price return in the past 10 years?

Kalyani Forge Ltd share price has appreciated 7.5% annually (CAGR) over the past ten years.

Is Kalyani Forge a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Kalyani Forge Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

Kalyani Forge Ltd - Stock Valuation and Financial Performance

Name: Kalyani Forge
Brand: Kalyani Forge

BSE: 513509 | NSE: KALYANIFRG | Forgings | Small Cap

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Kalyani Forge Share Price

₹561.65 -8.15 -1.43%
as on 24-Apr'25 16:59

10 Year X-Ray of Kalyani Forge:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	2.1%	4.9%	5.9%	9.4%	10.5%	-1.9%	0.8%	6%	3.8%	8.9%	-
Value Creation Index ⓘ	-0.9	-0.7	-0.6	-0.3	-0.3	-1.1	-1.0	-0.6	-0.7	-0.4	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	241	231	227	259	286	201	181	247	266	237	235
Sales YoY Gr.	-	-4.1%	-1.8%	14%	10.8%	-29.8%	-10%	36.4%	7.9%	-10.9%	-
Adj EPS ⓘ	-6	2.8	12.1	17.3	17.7	-19.3	-4.1	7.9	-2.9	10.9	18.7
YoY Gr.	-	NA	337.7%	43.1%	2.2%	-209%	NA	NA	-137.1%	NA	-
BVPS (₹) ⓘ	267.8	268.4	280.4	293.5	306.7	280.7	275.4	283	213.6	225.4	242.2
Adj Net Profit ⓘ	-2.2	1	4.4	6.3	6.4	-7	-1.5	2.9	-1.1	4	7
Cash Flow from Ops. ⓘ	25.4	19.2	15.5	12.3	30	24.1	7.4	11.1	-2.5	10	-
Debt/CF from Ops. ⓘ	1.8	2.1	4.1	5.1	1.6	1.3	3.7	2.4	-15.3	6.1	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	-0.2%	-3.7%	9.4%	-10.9%
Adj EPS ⓘ	NA	-9.2%	NA	NA
BVPSⓘ	-1.9%	-6%	-6.5%	5.5%
Share Price	7.5%	42.7%	42.3%	31.4%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	-2.2	1	4.4	6	5.9	-6.6	-1.5	2.8	-1.2	5	8
Op. Profit Mgn % ⓘ	5.5	6.8	7.1	8.3	9	4.2	7.1	7.6	4	6.1	8
Net Profit Mgn % ⓘ	-0.9	0.4	1.9	2.4	2.3	-3.5	-0.8	1.2	-0.4	1.7	2.9
Debt to Equity ⓘ	0.5	0.4	0.6	0.6	0.4	0.3	0.3	0.3	0.5	0.7	-
Working Cap Days ⓘ	157	165	188	196	181	230	237	187	177	202	109
Cash Conv. Cycle ⓘ	76	73	78	86	88	124	138	118	112	108	30

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 8.00%

Sales growth has been subdued in last 3 years 9.41%

Net Profit has been subdued in last 3 years 0.00%

Sales growth is not so good in last 4 quarters at -3.63%

Latest Financials - Kalyani Forge Ltd.

	Standalone	Consolidated
TTM EPS (₹)	18.7	-
TTM Sales (₹ Cr.)	235	-
BVPS (₹.) ⓘ	242.2	-
Reserves (₹ Cr.) ⓘ	84	-
P/BV ⓘ	2.35	-
PE ⓘ	30.51	-

From the Market
52 Week Low / High (₹)	371.00 / 849.95
All Time Low / High (₹)	7.00 / 849.95
Market Cap (₹ Cr.)	207
Equity (₹ Cr.)	3.6
Face Value (₹)	10
Industry PE ⓘ	33.8

Quarterly Results

Standalone Basis

Consolidated Basis

	Dec'23	YoY Gr. Rt. %	Jun'24	YoY Gr. Rt. %	Sep'24	YoY Gr. Rt. %	Dec'24	YoY Gr. Rt. %
Sales (₹ Cr.)ⓘ	15.8	N/A	16.2	50.8	19	2.4	24.1	52.5
Adj EPS (₹) ⓘ	1.1	N/A	1.8	57.3	2.3	377.6	4.5	298.2
Op. Profit Mgn % ⓘ	15.06	N/A	20.77	1009 bps	20.16	-557 bps	32.07	1701 bps
Net Profit Mgn % ⓘ	6.72	N/A	14.49	496 bps	15.75	-405 bps	23.85	1713 bps

Management X-Ray of Kalyani Forge:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Kalyani Forge

Price Calculator

Price Chart

Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

No data found!

Key Ratios of Kalyani Forge

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Peer Comparison

Company Name	CMP(₹)	Change ₹(%)	Market Cap	Net Sales (₹ Cr.)	Latest EPS (₹)	Net Profit Margin %	Latest P/E	Latest P/BV
Ramkrishna Forgings	687.3	6.8 (1%)	Small Cap	3,955	25.6	8.5	26.6	4
MM Forgings	351.1	-3.4 (-1%)	Small Cap	1,527	28.6	9.5	12.4	1.9
Happy Forgings	809.6	-5.6 (-0.7%)	Small Cap	1,197	28.2	17.2	28.9	4.3
Metalyst Forgings	4.1	0 (0%)	Small Cap	262	-72.5	-100.3	-	0
Kalyani Forge	561.7	-8.2 (-1.4%)	Small Cap	237	18.7	1.7	30.5	2.4
Samrat Forgings Ltd.	297.5	-1.5 (-0.5%)	Small Cap	162	10	1.8	29.8	4.2
Hilton Metal Forging	68.3	0.4 (0.6%)	Small Cap	138	0.9	4.8	80	1.3
Amic Forging	1,454.2	24.2 (1.7%)	Small Cap	126	13.2	9.8	108.4	23.2
LGB Forge	11.3	-0.1 (-1.2%)	Small Cap	89.4	-0.1	-6.5	-	14.1
Krishanveer Forge	82.3	-1.7 (-2%)	Small Cap	83.6	4.8	4.8	17.6	2.2

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Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	241	231	227	259	286	201	181	247	266	237
Operating Expenses ⓘ	228	215	212	237	261	193	169	228	255	223
Manufacturing Costs	58	60	64	69	71	48	40	48	52	53
Material Costs	129	113	105	127	143	102	92	132	152	114
Employee Cost	28	28	32	29	36	31	26	35	37	38
Other Costs ⓘ	14	13	12	12	10	11	10	13	15	18
Operating Profit ⓘ	13	16	15	21	26	8	12	19	11	14
Operating Profit Margin (%)	5.5%	6.8%	6.5%	8.3%	9.0%	4.2%	6.7%	7.6%	4.0%	5.9%
Other Income ⓘ	3	3	5	7	6	3	2	1	7	4
Interest ⓘ	6	5	4	6	8	5	3	4	3	6
Depreciation ⓘ	13	12	10	13	15	14	13	12	11	6
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	-2	0
Profit Before Tax ⓘ	-3	2	5	9	10	-8	-2	4	1	6
Tax ⓘ	-1	1	2	3	3	-1	0	1	1	1
Profit After Tax	-2	1	3	7	7	-7	-2	3	0	5
PAT Margin (%)	-0.9%	0.5%	1.5%	2.5%	2.4%	-3.4%	-1.0%	1.3%	-0.1%	1.9%
Adjusted EPS (₹)	-6.2	3.0	9.6	18.0	19.1	-19.0	-4.8	8.6	-0.5	12.5
Dividend Payout Ratio (%)	0%	66%	31%	19%	21%	-5%	-31%	35%	-594%	24%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	97	98	102	107	112	102	100	103	78	82
Share Capital ⓘ	4	4	4	4	4	4	4	4	4	4
Reserves ⓘ	94	94	98	103	108	98	97	99	74	78
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	36	34	57	57	38	25	26	26	38	61
Long Term Debt	12	5	16	18	6	1	0	0	1	19
Short Term Debt	24	29	41	40	31	24	26	26	37	41
Trade Payables	42	40	42	50	48	35	36	34	44	46
Others Liabilities ⓘ	25	26	34	21	30	21	19	16	16	13
Total Liabilities ⓘ	201	198	235	235	227	182	181	180	176	201
Fixed Assets
Gross Block	202	215	71	108	117	118	115	114	119	142
Accumulated Depreciation	141	151	10	23	38	52	62	70	80	86
Net Fixed Assetsⓘ	61	64	60	84	78	65	53	44	39	56
CWIP ⓘ	17	8	30	5	0	1	1	2	3	5
Investmentsⓘ	0	0	0	0	0	0	0	0	0	0
Inventories	34	37	45	48	48	40	45	49	47	56
Trade Receivables	61	62	62	70	75	57	67	73	75	62
Cash Equivalents	7	10	2	5	5	6	3	5	5	6
Others Assetsⓘ	21	17	37	23	19	14	12	7	6	16
Total Assets ⓘ	201	198	235	235	227	182	181	180	176	201

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	25	19	15	12	30	24	7	11	-3	10
PBT ⓘ	-3	2	7	9	10	-9	-2	4	1	6
Adjustment ⓘ	20	17	13	17	19	20	19	20	13	19
Changes in Working Capital ⓘ	9	2	-2	-12	0	14	-9	-11	-15	-12
Tax Paid ⓘ	-1	-1	-2	-2	1	-1	0	-2	-2	-2
Cash Flow From Investing Activity ⓘ	-2	-5	-41	-2	-7	-1	-1	-4	-6	-26
Capex	-2	-5	-42	-2	-7	-1	-1	-4	-6	-26
Net Investments	0	0	0	0	0	0	0	0	0	0
Others ⓘ	0	0	0	0	0	0	0	0	0	0
Cash Flow From Financing Activityⓘ	-20	-11	19	-8	-25	-23	-7	-5	8	16
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	0	0	0	2	-8	-8	-7	-1	0	19
Interest Paid ⓘ	-6	-5	-3	-7	-8	-5	-3	-4	-3	-6
Dividend Paid ⓘ	-1	0	-1	-1	-2	-2	0	-1	-1	-1
Others ⓘ	-13	-6	23	-2	-8	-8	2	0	11	4
Net Cash Flow ⓘ	3	3	-7	2	-2	0	-1	2	-1	0

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	-2.26	1.13	3.49	6.29	6.38	-6.48	-1.74	3.08	-0.2	5.7
ROCE (%)	2.13	4.92	5.9	9.36	10.49	-1.89	0.77	5.95	3.79	8.9
Asset Turnover Ratio	1.29	1.28	1.16	1.13	1.24	0.98	1	1.37	1.49	1.25
PAT to CFO Conversion(x)	N/A	19	5	1.71	4.29	N/A	N/A	3.67	N/A	2
Working Capital Days
Receivable Days	78	87	89	91	93	120	125	104	101	105
Inventory Days	49	51	59	64	61	80	86	69	66	80
Payable Days	93	127	143	132	125	146	139	97	95	144

Kalyani Forge Ltd Stock News

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Kalyani Forge Ltd FAQs

What is the share price of Kalyani Forge?

Company share prices are keep on changing according to the market conditions. The closing price of Kalyani Forge on 24-Apr-2025 16:59 is ₹561.6.

What is the market cap of Kalyani Forge?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 24-Apr-2025 16:59 the market cap of Kalyani Forge stood at ₹207.3.

What is the P/E ratio of Kalyani Forge?

The latest P/E ratio of Kalyani Forge as of 24-Apr-2025 16:59 is 30.51.

What is the P/B ratio of Kalyani Forge?

The latest P/B ratio of Kalyani Forge as of 24-Apr-2025 16:59 is 2.35.

What is the 52-week high and low of Kalyani Forge?

The 52-week high of Kalyani Forge is ₹850.0 and the 52-week low is ₹371.0.

What is the TTM revenue of Kalyani Forge?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Kalyani Forge is ₹234.5 ( Cr.) .

About Kalyani Forge Ltd

Kalyani Forge was established on January 29, 1979, as a private limited company by the name of Ellora Engineering Company Private Limited. later in 1992 was converted into a public limited company and also changed its name to the present one. The company is a part of the well reputed Kalyani group and has been promoted by U A Tahale and P S Kalyani.

The company is engaged in the manufacturing of Forgings, Precision Machined Components and Sub-assemblies.

The company was formed at a time when the engineering industry, and particularly the automotive sector, was experiencing a change in the demand pattern. This compelled forging units to consider new ways and means to meet the buyers requirements on qualitative and quantitative terms. Kalyani Forge, the first and perhaps the only forge shop in India to exclusively use press technology for small forgings, successfully bridged the gap with consistent high quality and timely delivery.

Kalyani Forge is TS 16949 & QS 9000 certified company that manufactures closed die press forgings using HOT, WARM & COLD forging technologies in the weight range - 50 gms to 12 kgs. Kalyani Forge specializes in the manufacture of connecting rods for two & four wheelers.

Kalyani Forge is well located at Koregaon Bhima, 30 Km from Pune which is known as 'The Detroit of India' & 'The Oxford of the East'. It is around 160 Kms from Mumbai i.e. approximately 30 minutes by air & 3 hours by road. Pune is well connected to other metropolitan cities like Delhi, Bangalore, Chennai, Kolkatta.

Product range of the company includes:

Hot forgings