Amforge Industries Ltd: Intrinsic Value & Share Price Analysis

Q: What is the current share price and 52-week range of Amforge Industries Ltd?

Amforge Industries Ltd is trading at 7.07 as of 25 April 2026, with a FY2026-2027 high of 10.9 and low of 6.05. The stock is currently near its 52-week low. Market cap stands at 10.2 Cr..

Q: Is Amforge Industries Ltd financially healthy?

Key indicators: ROCE of 6.53 % is on the lower side. Dividend yield is 0.00 %.

Q: Is Amforge Industries Ltd profitable and how is the profit trend?

Amforge Industries Ltd reported a net profit of 0 Cr in Mar 2025 on revenue of 1 Cr. Compared to 2 Cr in Mar 2022, the net profit shows a declining trend.

Fair Value

₹7.48Fairly Valued by 5.80%vs CMP ₹7.07

P/E (26.8) × ROE (3.7%) × BV (₹9.20) × DY (2.00%)

₹4.43Overvalued by 37.34%vs CMP ₹7.07

MoS: -59.6% (Negative)Confidence: 54/100 (Moderate)Models: 1 Under, 1 Fair, 6 Over

Model	Category	Value	Weight	Signal
PE-ROE	Earnings	₹5.62	25%	Over (-20.5%)
Graham Number	Earnings	₹7.48	18%	Fair (+5.8%)
Earnings Power	Earnings	₹0.43	12%	Over (-93.9%)
DCF	Cash Flow	₹2.11	15%	Over (-70.2%)
Net Asset Value	Assets	₹9.17	8%	Under (+29.7%)
Earnings Yield	Earnings	₹2.70	8%	Over (-61.8%)
ROCE Capital	Returns	₹4.11	8%	Over (-41.9%)
Revenue Multiple	Revenue	₹0.60	6%	Over (-91.5%)
Consensus (8 models)		₹4.43	100%	Overvalued

Key Drivers: EPS CAGR -24.9% drags value — could be higher if earnings stabilize. | ROE 3.7% is below cost of equity.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -24.9%

*Investments are subject to market risks

Analyst Summary

Amforge Industries Ltd operates in the Forgings segment, NSE: AMFORG | BSE: 513117, current market price is ₹7.07, market cap is 10.2 Cr.. At a glance, stock P/E is 26.8, ROE is 3.72 %, ROCE is 6.53 %, book value is 9.20, dividend yield is 0.00 %. The latest intrinsic value estimate is ₹4.43, around 37.3% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹1 Cr versus the prior period change of -5.5%, while latest net profit is about ₹0 Cr with a prior-period change of 274.1%. The 52-week range shown on this page is 10.9/6.05, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisAmforge 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) i…

This summary is generated from the stock page data available for Amforge Industries Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

Amforge Industries Ltd scores 44/100 (Weak)

Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison

Stock Health50/100 · Moderate

ROCE 6.5% WeakROE 3.7% WeakD/E 0.22 Low debtInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent

Smart Money50/100 · Moderate

Promoter holding at 57.0% Stable

Earnings Quality30/100 · Weak

OPM contracting (3% → -81%) DecliningWorking capital: 2,148 days Capital intensive

Quarterly Momentum50/100 · Moderate

Industry Rank45/100 · Moderate

P/E 26.8 vs industry 63.2 Cheaper than peersROCE 6.5% vs industry 10.6% AverageROE 3.7% vs industry 10.6% Below peers3Y sales CAGR: -32% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

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	₹4.43
High / Low	10.9/6.05
Stock P/E	26.8
Book Value	9.20
Dividend Yield	0.00 %
ROCE	6.53 %
ROE	3.72 %
Face Value	2.00
PEG Ratio	-1.08

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

Stock P/E Current Price Intrinsic Value

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	10.9/6.05	26.8	9.20	0.00 %	6.53 %	3.72 %	2.00
CIE Automotive India Ltd	17,259 Cr.	455	526/357	21.0	197	1.54 %	14.7 %	11.7 %	10.0
MM Forgings Ltd (MMFL)	1,955 Cr.	405	501/276	19.2	202	0.99 %	12.5 %	15.6 %	10.0
Kalyani Forge Ltd	209 Cr.	574	890/495	36.8	253	0.70 %	12.3 %	9.77 %	10.0
Hilton Metal Forging Ltd	123 Cr.	23.8	70.8/13.4	15.6	22.8	0.00 %	7.92 %	5.75 %	10.0
Industry Average	12,169.30 Cr	418.21		63.21	155.02	0.29%	10.63%	10.60%	6.13

All Competitor Stocks of Amforge Industries Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	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
Expenses	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
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	0.65	0.78	0.50	0.64	0.51	0.97	0.65	0.66	0.74	0.68	0.50	0.53	0.85
Interest	0.06	0.04	0.05	0.05	0.03	0.08	0.05	0.05	0.05	0.10	0.05	0.05	0.04
Depreciation	0.08	0.08	0.07	0.07	0.07	0.12	0.13	0.13	0.13	0.08	0.08	0.08	0.07
Profit before tax	-0.06	0.28	0.03	0.06	0.00	-0.15	0.16	0.12	0.27	0.02	-0.02	0.03	0.22
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	-0.07	0.28	0.03	0.04	-0.01	-0.48	0.12	0.13	0.21	0.21	-0.04	0.03	0.18
EPS in Rs	-0.05	0.19	0.02	0.03	-0.01	-0.33	0.08	0.09	0.15	0.15	-0.03	0.02	0.13

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

Quarterly Chart

Profit & Loss - Annual Report

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

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	3.88	6.57	3.61	2.21	4.00	2.26	2.81	2.80	2.70	1.36	0.91	0.86	0.00
Expenses	2.71	2.85	2.84	6.44	2.52	1.75	1.50	1.49	1.39	1.95	1.82	1.39	1.76
Operating Profit	1.17	3.72	0.77	-4.23	1.48	0.51	1.31	1.31	1.31	-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	-0.10	0.45	0.24	2.45	-0.03	-0.39	0.00	0.00	1.37	1.55	1.86	2.56
Interest	0.82	0.37	0.34	0.46	0.54	0.38	0.43	0.51	0.28	0.24	0.22	0.24	0.24
Depreciation	0.37	0.74	0.42	0.46	0.47	0.50	0.49	0.47	0.44	0.33	0.32	0.45	0.31
Profit before tax	0.38	2.51	0.46	-4.91	2.92	-0.40	0.00	0.33	0.59	0.21	0.10	0.64	0.25
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	1.25	2.14	0.88	-16.51	2.36	-0.30	0.03	0.32	1.62	0.19	-0.27	0.47	0.38
EPS in Rs	0.84	1.44	0.59	-11.14	1.64	-0.21	0.02	0.22	1.13	0.13	-0.19	0.33	0.27
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

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
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

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	2.96	2.96	2.96	2.96	2.88	2.88	2.88	2.88	2.88	2.88	2.88	2.88	2.88
Reserves	19.32	21.18	22.07	5.56	7.74	7.45	7.47	7.80	9.42	9.61	9.83	10.24	10.35
Borrowings	3.61	3.32	2.71	4.74	2.28	3.54	4.52	2.40	1.82	1.71	0.71	0.71	0.71
Other Liabilities	3.08	3.28	3.18	2.99	4.90	4.69	4.57	5.02	4.49	3.59	3.40	3.22	2.84
Total Liabilities	28.97	30.74	30.92	16.25	17.80	18.56	19.44	18.10	18.61	17.79	16.82	17.05	16.78
Fixed Assets	6.47	6.41	6.17	5.93	5.46	5.89	5.39	4.93	4.50	4.18	4.38	3.93	3.79
CWIP	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
Investments	3.71	3.16	3.02	2.73	1.79	2.23	1.13	0.07	0.07	0.07	3.02	6.09	6.09
Other Assets	18.79	21.17	21.73	7.59	10.55	10.44	12.92	13.10	14.04	13.54	9.42	7.03	6.90
Total Assets	28.97	30.74	30.92	16.25	17.80	18.56	19.44	18.10	18.61	17.79	16.82	17.05	16.78

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	-0.88	-0.53	0.77	-5.25	3.18	-2.31	-2.55	-1.08	-0.92	-2.98	-1.37	-1.14
Cash from Investing Activity +	7.55	1.74	-0.12	3.58	-2.63	1.21	2.05	4.45	1.40	4.66	1.23	1.36
Cash from Financing Activity +	-6.67	-0.77	-0.91	1.50	-0.79	0.89	0.55	-2.63	-0.85	-0.35	-1.51	-0.13
Net Cash Flow	0.00	0.43	-0.25	-0.16	-0.24	-0.21	0.04	0.74	-0.37	1.33	-1.65	0.10
Free Cash Flow	-1.27	-1.57	0.50	-5.24	3.19	-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

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	-2.44	0.40	-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

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Days	0.00
Days Payable
Cash Conversion Cycle	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Working Capital Days	150.52	230.56	524.75	-186.63	-169.72	-239.03	-192.24	-204.66	1,566.80	2,603.31	3,160.66	2,147.56
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

Month	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 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	17,133	17,017	17,122	17,263	17,308	16,015	15,982	16,451	16,388	16,274	16,182	16,083

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

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	2.00	2.00	2.00	2.00	2.00
Basic EPS (Rs.)	0.33	-0.19	0.13	1.13	0.22
Diluted EPS (Rs.)	0.33	-0.19	0.13	1.13	0.22
Cash EPS (Rs.)	0.64	0.03	0.36	1.43	0.54
Book Value[Excl.RevalReserv]/Share (Rs.)	9.12	8.83	8.68	8.55	7.42
Book Value[Incl.RevalReserv]/Share (Rs.)	9.12	8.83	8.68	8.55	7.42
PBDIT / Share (Rs.)	0.92	0.44	0.54	0.90	0.91
PBIT / Share (Rs.)	0.60	0.21	0.30	0.60	0.58
PBT / Share (Rs.)	0.43	0.06	0.14	0.41	0.23
Net Profit / Share (Rs.)	0.32	-0.18	0.13	1.13	0.22
Return on Networth / Equity (%)	3.60	-2.11	1.51	13.18	3.01
Return on Capital Employeed (%)	5.57	1.99	2.75	5.11	5.11
Return On Assets (%)	2.77	-1.59	1.06	8.71	1.77
Long Term Debt / Equity (X)	0.05	0.05	0.13	0.14	0.22
Total Debt / Equity (X)	0.05	0.05	0.13	0.14	0.22
Current Ratio (X)	5.11	8.86	7.87	0.49	0.75
Quick Ratio (X)	5.11	8.86	7.87	0.49	0.75
Interest Coverage Ratio (X)	5.52	2.93	3.27	4.72	2.57
Interest Coverage Ratio (Post Tax) (X)	2.96	-0.24	1.79	6.86	1.63
Enterprise Value (Cr.)	11.65	14.80	7.61	10.99	3.74
EV / EBITDA (X)	8.77	23.30	9.80	8.42	2.85
Price / BV (X)	0.87	1.15	0.64	0.81	0.23
EarningsYield	0.04	-0.01	0.02	0.16	0.12

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

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.

INDUSTRY	ADDRESS	CONTACT
Forgings	1118, Dalamal Tower, 11th Floor Free Press Journal Marg, Mumbai Maharashtra 400021	Contact not found

Management
Name	Position Held
Mr. Jayesh V. Thakkar	Managing Director
Mr. Puneet Yogiraj Makar	Director
Ms. Archana Makar Soi	Director
Mr. Sanjay Rajaram Posam	Independent Director
Mr. Navin Chandramani Sharma	Independent Director
Mr. Ajit Pandurang Walwaikar	Independent Director

FAQ

What is the intrinsic value of Amforge Industries Ltd and is it undervalued?

As of 25 April 2026, Amforge Industries Ltd's intrinsic value is ₹4.43, which is 37.34% lower than the current market price of ₹7.07, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (3.72 %), book value (₹9.20), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Amforge Industries Ltd?

Amforge Industries Ltd is trading at ₹7.07 as of 25 April 2026, with a FY2026-2027 high of ₹10.9 and low of ₹6.05. The stock is currently near its 52-week low. Market cap stands at ₹10.2 Cr..

How does Amforge Industries Ltd's P/E ratio compare to its industry?

Amforge Industries Ltd has a P/E ratio of 26.8, which is below the industry average of 63.21. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Amforge Industries Ltd financially healthy?

Key indicators for Amforge Industries Ltd: ROCE of 6.53 % is on the lower side compared to the industry average of 10.63%; ROE of 3.72 % is below ideal levels (industry average: 10.60%). Dividend yield is 0.00 %.

Is Amforge Industries Ltd profitable and how is the profit trend?

Amforge Industries Ltd reported a net profit of ₹0 Cr in Mar 2025 on revenue of ₹1 Cr. Compared to ₹2 Cr in Mar 2022, the net profit shows a declining trend.

Does Amforge Industries Ltd pay dividends?

Amforge Industries Ltd has a dividend yield of 0.00 % at the current price of ₹7.07. The company is currently not paying meaningful dividends.