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Last Updated: April 2, 2026, 4:04 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 513117 | NSE: AMFORG

Amforge Industries Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:04 am

Market Cap 10.2 Cr.
Current Price 7.07
Intrinsic Value₹5.62
High / Low 10.9/6.05
Stock P/E26.8
Book Value 9.20
Dividend Yield0.00 %
ROCE6.53 %
ROE3.72 %
Face Value 2.00
PEG Ratio-1.08

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Amforge Industries Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Amforge Industries Ltd 10.2 Cr. 7.07 10.9/6.0526.8 9.200.00 %6.53 %3.72 % 2.00
CIE Automotive India Ltd 17,259 Cr. 455 526/35721.0 1971.54 %14.7 %11.7 % 10.0
MM Forgings Ltd (MMFL) 1,955 Cr. 405 501/27619.2 2020.99 %12.5 %15.6 % 10.0
Kalyani Forge Ltd 209 Cr. 574 890/49536.8 2530.70 %12.3 %9.77 % 10.0
Hilton Metal Forging Ltd 123 Cr. 23.8 70.8/13.415.6 22.80.00 %7.92 %5.75 % 10.0
Industry Average12,169.30 Cr418.2163.21155.020.29%10.63%10.60%6.13

All Competitor Stocks of Amforge Industries Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 0.000.000.000.000.000.000.000.000.000.000.000.000.00
Expenses 0.570.380.350.460.410.920.310.360.290.480.390.370.52
Operating Profit -0.57-0.38-0.35-0.46-0.41-0.92-0.31-0.36-0.29-0.48-0.39-0.37-0.52
OPM %
Other Income 0.650.780.500.640.510.970.650.660.740.680.500.530.85
Interest 0.060.040.050.050.030.080.050.050.050.100.050.050.04
Depreciation 0.080.080.070.070.070.120.130.130.130.080.080.080.07
Profit before tax -0.060.280.030.060.00-0.150.160.120.270.02-0.020.030.22
Tax % 0.00%0.00%33.33%33.33%226.67%25.00%0.00%22.22%-950.00%100.00%0.00%18.18%
Net Profit -0.070.280.030.04-0.01-0.480.120.130.210.21-0.040.030.18
EPS in Rs -0.050.190.020.03-0.01-0.330.080.090.150.15-0.030.020.13

Last Updated: March 3, 2026, 12:29 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 26, 2026, 7:16 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 3.886.573.612.214.002.262.812.802.701.360.910.860.00
Expenses 2.712.852.846.442.521.751.501.491.391.951.821.391.76
Operating Profit 1.173.720.77-4.231.480.511.311.311.31-0.59-0.91-0.53-1.76
OPM % 30.15%56.62%21.33%-191.40%37.00%22.57%46.62%46.79%48.52%-43.38%-100.00%-61.63%
Other Income 0.40-0.100.450.242.45-0.03-0.390.000.001.371.551.862.56
Interest 0.820.370.340.460.540.380.430.510.280.240.220.240.24
Depreciation 0.370.740.420.460.470.500.490.470.440.330.320.450.31
Profit before tax 0.382.510.46-4.912.92-0.400.000.330.590.210.100.640.25
Tax % -228.95%15.14%-93.48%236.05%19.18%-25.00%3.03%-174.58%4.76%360.00%25.00%
Net Profit 1.252.140.88-16.512.36-0.300.030.321.620.19-0.270.470.38
EPS in Rs 0.841.440.59-11.141.64-0.210.020.221.130.13-0.190.330.27
Dividend Payout % 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)71.20%-58.88%-1976.14%114.29%-112.71%110.00%966.67%406.25%-88.27%-242.11%274.07%
Change in YoY Net Profit Growth (%)0.00%-130.08%-1917.26%2090.43%-227.01%222.71%856.67%-560.42%-494.52%-153.83%516.18%

Amforge Industries Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:%
5 Years:%
3 Years:%
TTM:-100%
Compounded Profit Growth
10 Years:-14%
5 Years:0%
3 Years:-34%
TTM:255%
Stock Price CAGR
10 Years:13%
5 Years:34%
3 Years:12%
1 Year:-24%
Return on Equity
10 Years:-8%
5 Years:4%
3 Years:1%
Last Year:4%

Last Updated: September 5, 2025, 2:16 pm

Balance Sheet

Last Updated: December 4, 2025, 2:21 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 2.962.962.962.962.882.882.882.882.882.882.882.882.88
Reserves 19.3221.1822.075.567.747.457.477.809.429.619.8310.2410.35
Borrowings 3.613.322.714.742.283.544.522.401.821.710.710.710.71
Other Liabilities 3.083.283.182.994.904.694.575.024.493.593.403.222.84
Total Liabilities 28.9730.7430.9216.2517.8018.5619.4418.1018.6117.7916.8217.0516.78
Fixed Assets 6.476.416.175.935.465.895.394.934.504.184.383.933.79
CWIP 0.000.000.000.000.000.000.000.000.000.000.000.000.00
Investments 3.713.163.022.731.792.231.130.070.070.073.026.096.09
Other Assets 18.7921.1721.737.5910.5510.4412.9213.1014.0413.549.427.036.90
Total Assets 28.9730.7430.9216.2517.8018.5619.4418.1018.6117.7916.8217.0516.78

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -0.88-0.530.77-5.253.18-2.31-2.55-1.08-0.92-2.98-1.37-1.14
Cash from Investing Activity + 7.551.74-0.123.58-2.631.212.054.451.404.661.231.36
Cash from Financing Activity + -6.67-0.77-0.911.50-0.790.890.55-2.63-0.85-0.35-1.51-0.13
Net Cash Flow 0.000.43-0.25-0.16-0.24-0.210.040.74-0.371.33-1.650.10
Free Cash Flow -1.27-1.570.50-5.243.19-3.54-2.46-1.08-0.93-3.00-1.38-1.14
CFO/OP -70%-30%-78%123%238%-351%-176%-67%-51%464%151%215%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-2.440.40-1.94-8.97-0.80-3.03-3.21-1.09-0.51-2.30-1.62-1.24

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 0.000.000.000.000.000.000.000.000.000.000.000.00
Inventory Days 0.00
Days Payable
Cash Conversion Cycle 0.000.000.000.000.000.000.000.000.000.000.000.00
Working Capital Days 150.52230.56524.75-186.63-169.72-239.03-192.24-204.661,566.802,603.313,160.662,147.56
ROCE %4.14%11.17%3.22%-22.83%26.45%2.02%5.98%6.01%6.40%3.18%3.55%6.53%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 56.96%56.96%56.96%56.96%56.96%56.96%56.96%56.96%56.96%56.96%56.96%56.96%
DIIs 0.20%0.20%0.20%0.20%0.20%0.17%0.17%0.17%0.17%0.17%0.17%0.17%
Public 42.83%42.84%42.84%42.84%42.84%42.86%42.87%42.87%42.87%42.86%42.87%42.88%
No. of Shareholders 17,13317,01717,12217,26317,30816,01515,98216,45116,38816,27416,18216,083

Shareholding Pattern Chart

No. of Shareholders

Amforge Industries Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 0.33-0.190.131.130.22
Diluted EPS (Rs.) 0.33-0.190.131.130.22
Cash EPS (Rs.) 0.640.030.361.430.54
Book Value[Excl.RevalReserv]/Share (Rs.) 9.128.838.688.557.42
Book Value[Incl.RevalReserv]/Share (Rs.) 9.128.838.688.557.42
PBDIT / Share (Rs.) 0.920.440.540.900.91
PBIT / Share (Rs.) 0.600.210.300.600.58
PBT / Share (Rs.) 0.430.060.140.410.23
Net Profit / Share (Rs.) 0.32-0.180.131.130.22
Return on Networth / Equity (%) 3.60-2.111.5113.183.01
Return on Capital Employeed (%) 5.571.992.755.115.11
Return On Assets (%) 2.77-1.591.068.711.77
Long Term Debt / Equity (X) 0.050.050.130.140.22
Total Debt / Equity (X) 0.050.050.130.140.22
Current Ratio (X) 5.118.867.870.490.75
Quick Ratio (X) 5.118.867.870.490.75
Interest Coverage Ratio (X) 5.522.933.274.722.57
Interest Coverage Ratio (Post Tax) (X) 2.96-0.241.796.861.63
Enterprise Value (Cr.) 11.6514.807.6110.993.74
EV / EBITDA (X) 8.7723.309.808.422.85
Price / BV (X) 0.871.150.640.810.23
EarningsYield 0.04-0.010.020.160.12

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Amforge Industries Ltd as of April 3, 2026 is: ₹7.48

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of April 3, 2026, Amforge Industries Ltd is Undervalued by 5.80% compared to the current share price ₹7.07

Intrinsic Value of Amforge Industries Ltd as of April 3, 2026 is: ₹5.62

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of April 3, 2026, Amforge Industries Ltd is Overvalued by 20.51% compared to the current share price ₹7.07

Last 5 Year EPS CAGR: -24.90%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a low average Working Capital Days of -6.54, which is a positive sign.
  2. The stock has a low average Cash Conversion Cycle of 0.00, which is a positive sign.
  3. The company has higher reserves (11.39 cr) compared to borrowings (2.52 cr), indicating strong financial stability.
  4. The company has shown consistent growth in sales (2.61 cr) and profit (0.24 cr) over the years.
  1. The stock has a low average ROCE of 4.65%, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Amforge Industries Ltd:
    1. Net Profit Margin: 0%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 5.57% (Industry Average ROCE: 10.63%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 3.6% (Industry Average ROE: 10.6%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 2.96
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 5.11
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 26.8 (Industry average Stock P/E: 63.21)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.05
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Amforge Industries Ltd. is a Public Limited Listed company incorporated on 21/04/1971 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L28910MH1971PLC015119 and registration number is 015119. Currently Company is involved in the business activities of Other financial service activities, except insurance and pension funding activities. Company's Total Operating Revenue is Rs. 0.00 Cr. and Equity Capital is Rs. 2.88 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Forgings1118, Dalamal Tower, 11th Floor Free Press Journal Marg, Mumbai Maharashtra 400021Contact not found
Management
NamePosition Held
Mr. Jayesh V. ThakkarManaging Director
Mr. Puneet Yogiraj MakarDirector
Ms. Archana Makar SoiDirector
Mr. Sanjay Rajaram PosamIndependent Director
Mr. Navin Chandramani SharmaIndependent Director
Mr. Ajit Pandurang WalwaikarIndependent Director

FAQ

What is the intrinsic value of Amforge Industries Ltd?

Amforge Industries Ltd's intrinsic value (as of 03 April 2026) is ₹5.62 which is 20.51% lower the current market price of ₹7.07, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's ₹10.2 Cr. market cap, FY2026-2027 high/low of ₹10.9/6.05, reserves of ₹10.35 Cr, and liabilities of ₹16.78 Cr.

What is the Market Cap of Amforge Industries Ltd?

The Market Cap of Amforge Industries Ltd is 10.2 Cr..

What is the current Stock Price of Amforge Industries Ltd as on 03 April 2026?

The current stock price of Amforge Industries Ltd as on 03 April 2026 is ₹7.07.

What is the High / Low of Amforge Industries Ltd stocks in FY 2026-2027?

In FY 2026-2027, the High / Low of Amforge Industries Ltd stocks is ₹10.9/6.05.

What is the Stock P/E of Amforge Industries Ltd?

The Stock P/E of Amforge Industries Ltd is 26.8.

What is the Book Value of Amforge Industries Ltd?

The Book Value of Amforge Industries Ltd is 9.20.

What is the Dividend Yield of Amforge Industries Ltd?

The Dividend Yield of Amforge Industries Ltd is 0.00 %.

What is the ROCE of Amforge Industries Ltd?

The ROCE of Amforge Industries Ltd is 6.53 %.

What is the ROE of Amforge Industries Ltd?

The ROE of Amforge Industries Ltd is 3.72 %.

What is the Face Value of Amforge Industries Ltd?

The Face Value of Amforge Industries Ltd is 2.00.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Amforge Industries Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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