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Last Updated: April 2, 2026, 4:05 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 544037 | NSE: AMIC

Amic Forging Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹1,384.68Fairly Valued by 5.54%vs CMP ₹1,312.00

P/E (56.0) × ROE (21.8%) × BV (₹139.00) × DY (2.00%)

₹548.39Overvalued by 58.20%vs CMP ₹1,312.00
MoS: -139.2% (Negative)Confidence: 63/100 (Moderate)Models: 1 Under, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1,584.5623%Under (+20.8%)
Graham NumberEarnings₹274.0816%Over (-79.1%)
Earnings PowerEarnings₹125.3111%Over (-90.4%)
DCFCash Flow₹454.3514%Over (-65.4%)
Net Asset ValueAssets₹135.857%Over (-89.6%)
EV/EBITDAEnterprise₹281.949%Over (-78.5%)
Earnings YieldEarnings₹240.207%Over (-81.7%)
ROCE CapitalReturns₹119.827%Over (-90.9%)
Revenue MultipleRevenue₹111.665%Over (-91.5%)
Consensus (9 models)₹548.39100%Overvalued
Key Drivers: Wide model spread (₹112–₹1,585) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 14.4%

*Investments are subject to market risks

Investment Snapshot

71
Amic Forging Ltd scores 71/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health87/100 · Strong
ROCE 27.9% ExcellentROE 21.8% ExcellentD/E 0.64 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money20/100 · Weak
FII holding down -1.18% (6mo) SellingDII holding down 0.71% MF sellingPromoter holding at 58.0% Stable
Earnings Quality65/100 · Strong
OPM expanding (8% → 18%) Improving
Quarterly Momentum78/100 · Strong
Revenue (4Q): +6% YoY GrowingProfit (4Q): +10% YoY PositiveOPM: 27.0% (up 8.0% YoY) Margin expansion
Industry Rank75/100 · Strong
P/E 56.0 vs industry 63.2 In-lineROCE 27.9% vs industry 10.6% Above peersROE 21.8% vs industry 10.6% Above peers3Y sales CAGR: 19% Moderate

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, 4:05 am

Market Cap 1,410 Cr.
Current Price 1,312
Intrinsic Value₹548.39
High / Low 1,750/1,065
Stock P/E56.0
Book Value 139
Dividend Yield0.00 %
ROCE27.9 %
ROE21.8 %
Face Value 10.0
PEG Ratio3.88

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

View Share Price Target for Amic Forging Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Amic Forging Ltd 1,410 Cr. 1,312 1,750/1,06556.0 1390.00 %27.9 %21.8 % 10.0
MM Forgings Ltd (MMFL) 1,955 Cr. 405 501/27619.2 2020.99 %12.5 %15.6 % 10.0
Tirupati Forge Ltd 534 Cr. 42.5 52.0/28.287.9 9.610.00 %12.4 %9.99 % 2.00
Kalyani Forge Ltd 209 Cr. 574 890/49536.8 2530.70 %12.3 %9.77 % 10.0
LGB Forge Ltd 139 Cr. 5.83 14.0/4.80 0.770.00 %1.79 %18.2 % 1.00
Industry Average12,169.30 Cr418.2163.21155.020.29%10.63%10.60%6.13

All Competitor Stocks of Amic Forging Ltd

Quarterly Result

MetricSep 2023Mar 2024Sep 2024Mar 2025Sep 2025
Sales 5275645867
Expenses 4268524248
Operating Profit 107121618
OPM % 19%9%19%28%27%
Other Income 031831
Interest 00000
Depreciation 00022
Profit before tax 109291717
Tax % 26%26%21%23%26%
Net Profit 77231312
EPS in Rs 9.226.4121.6612.2311.79

Last Updated: December 28, 2025, 5:00 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: December 15, 2025, 4:14 am

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 2671116126120124
Expenses 25691021099290
Operating Profit 2214162834
OPM % 6%3%12%13%23%28%
Other Income 0013214
Interest 011100
Depreciation 011134
Profit before tax 1113194533
Tax % 27%30%26%26%22%
Net Profit 1110143625
EPS in Rs 7.8812.24112.5213.1933.9024.02
Dividend Payout % 0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)0.00%900.00%40.00%157.14%
Change in YoY Net Profit Growth (%)0.00%900.00%-860.00%117.14%

Amic Forging Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 4 years from 2021-2022 to 2024-2025.

Growth

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

Balance Sheet

Last Updated: December 10, 2025, 3:48 am

MonthMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 0.710.710.86101010
Reserves 671954114136
Borrowings 4115407
Other Liabilities 51337242846
Total Liabilities 16326292153199
Fixed Assets 458123533
CWIP 0000636
Investments 228192222
Other Assets 1124476290108
Total Assets 16326292153199

Reserves and Borrowings Chart

Cash Flow

MonthMar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -2618-86
Cash from Investing Activity + -2-12-13-10-19
Cash from Financing Activity + 46-42920
Net Cash Flow 001117
Free Cash Flow -2415-13-26
CFO/OP -131%283%156%-21%55%

Free Cash Flow

MonthMar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-2.00-9.009.0012.0028.00

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 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 12571698583
Inventory Days 16127177
Days Payable 73741206372
Cash Conversion Cycle 68-2-252388
Working Capital Days 661-223477
ROCE %13%64%36%28%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2023Mar 2024Sep 2024Mar 2025Sep 2025
Promoters 57.74%57.82%57.75%57.96%57.96%
FIIs 6.99%1.33%0.94%0.15%0.15%
DIIs 3.11%1.19%1.10%0.77%0.48%
Public 32.16%39.66%40.21%41.12%41.41%
No. of Shareholders 1,3781,0261,8112,8882,723

Shareholding Pattern Chart

No. of Shareholders

Amic Forging 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 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 33.9016.06127.5812.189.10
Diluted EPS (Rs.) 33.9016.06127.5812.189.10
Cash EPS (Rs.) 36.6413.89121.1820.4514.22
Book Value[Excl.RevalReserv]/Share (Rs.) 118.6061.59231.07107.9695.78
Book Value[Incl.RevalReserv]/Share (Rs.) 118.6061.59231.07107.9695.78
Revenue From Operations / Share (Rs.) 115.67120.271349.491000.70371.59
PBDIT / Share (Rs.) 46.4418.93169.4334.6221.73
PBIT / Share (Rs.) 43.7018.25162.4026.3515.43
PBT / Share (Rs.) 43.3117.75153.1917.4411.13
Net Profit / Share (Rs.) 33.9013.20114.1512.187.92
NP After MI And SOA / Share (Rs.) 33.9013.19114.1512.187.92
PBDIT Margin (%) 40.1415.7312.553.455.84
PBIT Margin (%) 37.7815.1712.032.634.15
PBT Margin (%) 37.4414.7511.351.742.99
Net Profit Margin (%) 29.3010.978.451.212.13
NP After MI And SOA Margin (%) 29.3010.968.451.212.13
Return on Networth / Equity (%) 28.5821.4149.4011.288.26
Return on Capital Employeed (%) 36.6328.2457.1110.7110.10
Return On Assets (%) 23.2815.0116.042.733.46
Long Term Debt / Equity (X) 0.000.040.211.250.57
Total Debt / Equity (X) 0.000.050.191.400.64
Asset Turnover Ratio (%) 0.991.652.502.970.00
Current Ratio (X) 2.631.970.841.021.92
Quick Ratio (X) 2.051.960.661.011.73
Inventory Turnover Ratio (X) 14.7928.2326.4798.310.00
Interest Coverage Ratio (X) 118.5937.8618.393.895.06
Interest Coverage Ratio (Post Tax) (X) 87.5827.4113.392.372.88
Enterprise Value (Cr.) 1113.64685.590.000.000.00
EV / Net Operating Revenue (X) 9.185.430.000.000.00
EV / EBITDA (X) 22.8634.530.000.000.00
MarketCap / Net Operating Revenue (X) 9.345.500.000.000.00
Price / BV (X) 9.1110.740.000.000.00
Price / Net Operating Revenue (X) 9.345.500.000.000.00
EarningsYield 0.030.010.000.000.00

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

AMIC Forging Ltd. is a Public Limited Listed company incorporated on 19/06/2007 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Number(CIN) is U27100WB2007PLC116674 and registration number is 116674. Currently company belongs to the Industry of Forgings. Company's Total Operating Revenue is Rs. 121.32 Cr. and Equity Capital is Rs. 10.49 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Forgings3A, Garstin Place, 2nd Floor, Kolkata West Bengal 700001Contact not found
Management
NamePosition Held
Mr. Girdhari Lal ChamariaManaging Director
Mr. Anshul ChamariaWhole Time Director
Mrs. Rashmi ChamariaNon Exe.Non Ind.Director
Mr. Parma Nand GuptaIndependent Director
Mr. Pravin PoddarIndependent Director

FAQ

What is the intrinsic value of Amic Forging Ltd and is it undervalued?

As of 08 April 2026, Amic Forging Ltd's intrinsic value is ₹548.39, which is 58.20% lower than the current market price of ₹1,312.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (21.8 %), book value (₹139), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Amic Forging Ltd?

Amic Forging Ltd is trading at ₹1,312.00 as of 08 April 2026, with a FY2026-2027 high of ₹1,750 and low of ₹1,065. The stock is currently in the middle of its 52-week range. Market cap stands at ₹1,410 Cr..

How does Amic Forging Ltd's P/E ratio compare to its industry?

Amic Forging Ltd has a P/E ratio of 56.0, which is below the industry average of 63.21. This is broadly in line with or below the industry average.

Is Amic Forging Ltd financially healthy?

Key indicators for Amic Forging Ltd: ROCE of 27.9 % indicates efficient capital utilization; ROE of 21.8 % shows strong shareholder returns. Dividend yield is 0.00 %.

Is Amic Forging Ltd profitable and how is the profit trend?

Amic Forging Ltd reported a net profit of ₹36 Cr in Mar 2025 on revenue of ₹120 Cr. Compared to ₹1 Cr in Mar 2022, the net profit shows an improving trend.

Does Amic Forging Ltd pay dividends?

Amic Forging Ltd has a dividend yield of 0.00 % at the current price of ₹1,312.00. The company is currently not paying meaningful dividends.

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 Amic Forging 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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