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Last Updated: March 13, 2026, 7:50 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 522241 | NSE: MMFL

MM Forgings Ltd (MMFL): Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: March 13, 2026, 7:50 am

Market Cap 2,166 Cr.
Current Price 449
Intrinsic Value₹550.78
High / Low 501/276
Stock P/E21.2
Book Value 202
Dividend Yield0.89 %
ROCE12.5 %
ROE15.6 %
Face Value 10.0
PEG Ratio9.87

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

View Share Price Target for MM Forgings Ltd (MMFL)

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
MM Forgings Ltd (MMFL) 2,166 Cr. 449 501/27621.2 2020.89 %12.5 %15.6 % 10.0
Amic Forging Ltd 1,444 Cr. 1,343 1,750/85057.3 1390.00 %27.9 %21.8 % 10.0
Tirupati Forge Ltd 553 Cr. 44.1 49.5/28.291.1 9.610.00 %12.4 %9.99 % 2.00
Kalyani Forge Ltd 208 Cr. 571 890/49536.7 2530.70 %12.3 %9.77 % 10.0
LGB Forge Ltd 151 Cr. 6.34 14.0/6.00 0.770.00 %1.79 %18.2 % 1.00
Industry Average14,350.89 Cr442.1272.50155.020.28%10.63%10.60%6.13

All Competitor Stocks of MM Forgings Ltd (MMFL)

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 361373366384388389369389364355349378405
Expenses 295309303312313313297313291282286315334
Operating Profit 66646372757572777372636372
OPM % 18%17%17%19%19%19%19%20%20%20%18%17%18%
Other Income 6565777868975
Interest 87109111315161515182120
Depreciation 17181818191819202023222222
Profit before tax 47444151535244494443312634
Tax % 28%36%27%28%29%26%27%27%27%16%28%32%25%
Net Profit 34283037373832363236221826
EPS in Rs 7.015.876.217.587.717.886.717.446.577.504.633.675.33

Last Updated: March 3, 2026, 8:46 pm

Below is a detailed analysis of the quarterly data for MM Forgings Ltd (MMFL) based on the most recent figures (Dec 2025) and their trends compared to the previous period:

  • For Sales, as of Dec 2025, the value is 405.00 Cr.. The value appears strong and on an upward trend. It has increased from 378.00 Cr. (Sep 2025) to 405.00 Cr., marking an increase of 27.00 Cr..
  • For Expenses, as of Dec 2025, the value is 334.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 315.00 Cr. (Sep 2025) to 334.00 Cr., marking an increase of 19.00 Cr..
  • For Operating Profit, as of Dec 2025, the value is 72.00 Cr.. The value appears strong and on an upward trend. It has increased from 63.00 Cr. (Sep 2025) to 72.00 Cr., marking an increase of 9.00 Cr..
  • For OPM %, as of Dec 2025, the value is 18.00%. The value appears strong and on an upward trend. It has increased from 17.00% (Sep 2025) to 18.00%, marking an increase of 1.00%.
  • For Other Income, as of Dec 2025, the value is 5.00 Cr.. The value appears to be declining and may need further review. It has decreased from 7.00 Cr. (Sep 2025) to 5.00 Cr., marking a decrease of 2.00 Cr..
  • For Interest, as of Dec 2025, the value is 20.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 21.00 Cr. (Sep 2025) to 20.00 Cr., marking a decrease of 1.00 Cr..
  • For Depreciation, as of Dec 2025, the value is 22.00 Cr.. The value remains steady. There is no change compared to the previous period (Sep 2025) which recorded 22.00 Cr..
  • For Profit before tax, as of Dec 2025, the value is 34.00 Cr.. The value appears strong and on an upward trend. It has increased from 26.00 Cr. (Sep 2025) to 34.00 Cr., marking an increase of 8.00 Cr..
  • For Tax %, as of Dec 2025, the value is 25.00%. The value appears to be improving (decreasing) as expected. It has decreased from 32.00% (Sep 2025) to 25.00%, marking a decrease of 7.00%.
  • For Net Profit, as of Dec 2025, the value is 26.00 Cr.. The value appears strong and on an upward trend. It has increased from 18.00 Cr. (Sep 2025) to 26.00 Cr., marking an increase of 8.00 Cr..
  • For EPS in Rs, as of Dec 2025, the value is 5.33. The value appears strong and on an upward trend. It has increased from 3.67 (Sep 2025) to 5.33, marking an increase of 1.66.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 1:46 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 4115035024786219047277261,1051,4131,5271,4771,487
Expenses 3323923943864967316026049031,1541,2391,1831,217
Operating Profit 7911110893124173125121202258288294270
OPM % 19%22%22%19%20%19%17%17%18%18%19%20%18%
Other Income 32511121619221916263030
Interest 89810132633312730436175
Depreciation 36353639425453576069728290
Profit before tax 38696955821095755133176199180134
Tax % 24%26%28%21%17%25%19%15%31%28%27%24%
Net Profit 295150436981464792126145136102
EPS in Rs 6.0810.4910.399.0114.2116.849.579.6519.0026.1730.1228.2321.13
Dividend Payout % 16%14%14%17%18%15%26%26%16%11%13%14%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)75.86%-1.96%-14.00%60.47%17.39%-43.21%2.17%95.74%36.96%15.08%-6.21%
Change in YoY Net Profit Growth (%)0.00%-77.82%-12.04%74.47%-43.07%-60.60%45.38%93.57%-58.79%-21.88%-21.29%

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

No data available for the compounded sales growth chart.

Balance Sheet

Last Updated: December 4, 2025, 1:39 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 12121212122424242424244848
Reserves 184226268303357412444476554666792885925
Borrowings 1511902142243816885665326807569251,1841,216
Other Liabilities 314545518693105230181227254266331
Total Liabilities 3784735385898361,2171,1401,2631,4391,6731,9962,3842,521
Fixed Assets 200225262320365588653618650719818861977
CWIP 711301427399173661112361281
Investments 000045553341412222
Other Assets 1712372452554405854736237208531,0251,1391,240
Total Assets 3784735385898361,2171,1401,2631,4391,6731,9962,3842,521

Below is a detailed analysis of the balance sheet data for MM Forgings Ltd (MMFL) based on the most recent figures (Sep 2025) and their trends compared to the previous period:

  • For Equity Capital, as of Sep 2025, the value is 48.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 48.00 Cr..
  • For Reserves, as of Sep 2025, the value is 925.00 Cr.. The value appears strong and on an upward trend. It has increased from 885.00 Cr. (Mar 2025) to 925.00 Cr., marking an increase of 40.00 Cr..
  • For Borrowings, as of Sep 2025, the value is 1,216.00 Cr.. The value appears to be increasing, which may not be favorable. However, Borrowings exceed Reserves, which may signal higher financial risk. It has increased from 1,184.00 Cr. (Mar 2025) to 1,216.00 Cr., marking an increase of 32.00 Cr..
  • For Other Liabilities, as of Sep 2025, the value is 331.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 266.00 Cr. (Mar 2025) to 331.00 Cr., marking an increase of 65.00 Cr..
  • For Total Liabilities, as of Sep 2025, the value is 2,521.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 2,384.00 Cr. (Mar 2025) to 2,521.00 Cr., marking an increase of 137.00 Cr..
  • For Fixed Assets, as of Sep 2025, the value is 977.00 Cr.. The value appears strong and on an upward trend. It has increased from 861.00 Cr. (Mar 2025) to 977.00 Cr., marking an increase of 116.00 Cr..
  • For CWIP, as of Sep 2025, the value is 281.00 Cr.. The value appears to be declining and may need further review. It has decreased from 361.00 Cr. (Mar 2025) to 281.00 Cr., marking a decrease of 80.00 Cr..
  • For Investments, as of Sep 2025, the value is 22.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 22.00 Cr..
  • For Other Assets, as of Sep 2025, the value is 1,240.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,139.00 Cr. (Mar 2025) to 1,240.00 Cr., marking an increase of 101.00 Cr..
  • For Total Assets, as of Sep 2025, the value is 2,521.00 Cr.. The value appears strong and on an upward trend. It has increased from 2,384.00 Cr. (Mar 2025) to 2,521.00 Cr., marking an increase of 137.00 Cr..

However, the Borrowings (1,216.00 Cr.) are higher than the Reserves (925.00 Cr.), which may signal higher financial risk.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 35106123107-143327310147116145189
Cash from Investing Activity + -40-63-86-69-93-275-71-12-126-160-201-330
Cash from Financing Activity + 621-5-25137249-19914172163149
Net Cash Flow 164321330821338-2368

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-72.00-79.00-106.00-131.00-257.00-515.00-441.00-411.00-478.00-498.00-637.00293.00

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 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 26211113333266155597694
Inventory Days 158139128119177167143177139157165182
Days Payable 3248525287437810383878393
Cash Conversion Cycle 151111878012315771135112129157183
Working Capital Days -8-8-22-32-41-16-69-57-28-21-19-16
ROCE %13%20%17%13%15%14%8%8%14%15%15%12%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 56.33%56.33%56.33%56.33%56.33%56.33%56.33%56.33%56.33%56.33%56.33%56.33%
FIIs 1.65%1.64%1.72%1.93%2.28%2.85%3.41%3.75%3.09%1.79%1.76%1.74%
DIIs 17.02%16.59%15.66%14.47%11.83%10.72%10.50%9.85%8.92%8.33%8.31%8.55%
Public 25.00%25.44%26.29%27.27%29.56%30.10%29.75%30.06%31.65%33.54%33.59%33.38%
No. of Shareholders 14,77515,84416,57018,42922,52927,47834,49433,87834,34935,74235,81134,244

Shareholding Pattern Chart

No. of Shareholders

MM Forgings Ltd (MMFL): Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Hybrid Equity Fund 1,804,178 0.31 73.84N/AN/AN/A
Tata Small Cap Fund 1,576,286 0.6 64.51N/AN/AN/A
ICICI Prudential Transportation and Logistics Fund 78,842 0.11 3.2340,1962026-01-25 07:48:1396.14%
ICICI Prudential Smallcap Fund 70,000 0.04 2.8678,3572026-02-23 06:17:53-10.67%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 25.2455.9453.0037.6919.35
Diluted EPS (Rs.) 25.2455.9453.0037.6919.35
Cash EPS (Rs.) 44.5690.2485.6465.7645.59
Book Value[Excl.RevalReserv]/Share (Rs.) 184.60326.87278.93231.79201.80
Book Value[Incl.RevalReserv]/Share (Rs.) 184.60326.87278.93231.79201.80
Revenue From Operations / Share (Rs.) 315.89647.48605.56472.08324.18
PBDIT / Share (Rs.) 66.01129.79118.0192.3261.73
PBIT / Share (Rs.) 46.7095.4885.3664.2535.48
PBT / Share (Rs.) 34.3378.4973.3053.3821.61
Net Profit / Share (Rs.) 25.2455.9453.0037.6919.35
NP After MI And SOA / Share (Rs.) 25.2455.9453.0037.6919.35
PBDIT Margin (%) 20.8920.0419.4819.5519.04
PBIT Margin (%) 14.7814.7414.0913.6110.94
PBT Margin (%) 10.8612.1212.1011.306.66
Net Profit Margin (%) 7.998.638.757.985.96
NP After MI And SOA Margin (%) 7.998.638.757.985.96
Return on Networth / Equity (%) 13.6717.1219.0116.269.58
Return on Capital Employeed (%) 14.4218.8119.7916.4610.50
Return On Assets (%) 5.186.867.706.433.68
Long Term Debt / Equity (X) 0.670.490.490.620.61
Total Debt / Equity (X) 1.181.030.971.071.09
Asset Turnover Ratio (%) 0.700.860.950.810.60
Current Ratio (X) 1.201.171.191.311.17
Quick Ratio (X) 0.760.700.700.870.77
Inventory Turnover Ratio (X) 4.442.392.922.812.19
Dividend Payout Ratio (NP) (%) 15.8414.3011.3215.9125.84
Dividend Payout Ratio (CP) (%) 8.978.867.009.1210.96
Earning Retention Ratio (%) 84.1685.7088.6884.0974.16
Cash Earning Retention Ratio (%) 91.0391.1493.0090.8889.04
Interest Coverage Ratio (X) 5.337.409.648.044.23
Interest Coverage Ratio (Post Tax) (X) 3.044.165.314.232.28
Enterprise Value (Cr.) 2476.582705.022447.162413.961539.81
EV / Net Operating Revenue (X) 1.621.731.672.121.97
EV / EBITDA (X) 7.778.638.5910.8310.33
MarketCap / Net Operating Revenue (X) 1.081.351.381.791.53
Retention Ratios (%) 84.1585.6988.6784.0874.15
Price / BV (X) 1.842.672.993.652.45
Price / Net Operating Revenue (X) 1.081.351.381.791.53
EarningsYield 0.070.060.060.040.03

After reviewing the key financial ratios for MM Forgings Ltd (MMFL), here is a detailed analysis based on the latest available data and recent trends:

  • For FaceValue, as of Mar 25, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 10.00.
  • For Basic EPS (Rs.), as of Mar 25, the value is 25.24. This value is within the healthy range. It has decreased from 55.94 (Mar 24) to 25.24, marking a decrease of 30.70.
  • For Diluted EPS (Rs.), as of Mar 25, the value is 25.24. This value is within the healthy range. It has decreased from 55.94 (Mar 24) to 25.24, marking a decrease of 30.70.
  • For Cash EPS (Rs.), as of Mar 25, the value is 44.56. This value is within the healthy range. It has decreased from 90.24 (Mar 24) to 44.56, marking a decrease of 45.68.
  • For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 184.60. It has decreased from 326.87 (Mar 24) to 184.60, marking a decrease of 142.27.
  • For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 184.60. It has decreased from 326.87 (Mar 24) to 184.60, marking a decrease of 142.27.
  • For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 315.89. It has decreased from 647.48 (Mar 24) to 315.89, marking a decrease of 331.59.
  • For PBDIT / Share (Rs.), as of Mar 25, the value is 66.01. This value is within the healthy range. It has decreased from 129.79 (Mar 24) to 66.01, marking a decrease of 63.78.
  • For PBIT / Share (Rs.), as of Mar 25, the value is 46.70. This value is within the healthy range. It has decreased from 95.48 (Mar 24) to 46.70, marking a decrease of 48.78.
  • For PBT / Share (Rs.), as of Mar 25, the value is 34.33. This value is within the healthy range. It has decreased from 78.49 (Mar 24) to 34.33, marking a decrease of 44.16.
  • For Net Profit / Share (Rs.), as of Mar 25, the value is 25.24. This value is within the healthy range. It has decreased from 55.94 (Mar 24) to 25.24, marking a decrease of 30.70.
  • For NP After MI And SOA / Share (Rs.), as of Mar 25, the value is 25.24. This value is within the healthy range. It has decreased from 55.94 (Mar 24) to 25.24, marking a decrease of 30.70.
  • For PBDIT Margin (%), as of Mar 25, the value is 20.89. This value is within the healthy range. It has increased from 20.04 (Mar 24) to 20.89, marking an increase of 0.85.
  • For PBIT Margin (%), as of Mar 25, the value is 14.78. This value is within the healthy range. It has increased from 14.74 (Mar 24) to 14.78, marking an increase of 0.04.
  • For PBT Margin (%), as of Mar 25, the value is 10.86. This value is within the healthy range. It has decreased from 12.12 (Mar 24) to 10.86, marking a decrease of 1.26.
  • For Net Profit Margin (%), as of Mar 25, the value is 7.99. This value is within the healthy range. It has decreased from 8.63 (Mar 24) to 7.99, marking a decrease of 0.64.
  • For NP After MI And SOA Margin (%), as of Mar 25, the value is 7.99. This value is below the healthy minimum of 8. It has decreased from 8.63 (Mar 24) to 7.99, marking a decrease of 0.64.
  • For Return on Networth / Equity (%), as of Mar 25, the value is 13.67. This value is below the healthy minimum of 15. It has decreased from 17.12 (Mar 24) to 13.67, marking a decrease of 3.45.
  • For Return on Capital Employeed (%), as of Mar 25, the value is 14.42. This value is within the healthy range. It has decreased from 18.81 (Mar 24) to 14.42, marking a decrease of 4.39.
  • For Return On Assets (%), as of Mar 25, the value is 5.18. This value is within the healthy range. It has decreased from 6.86 (Mar 24) to 5.18, marking a decrease of 1.68.
  • For Long Term Debt / Equity (X), as of Mar 25, the value is 0.67. This value is within the healthy range. It has increased from 0.49 (Mar 24) to 0.67, marking an increase of 0.18.
  • For Total Debt / Equity (X), as of Mar 25, the value is 1.18. This value exceeds the healthy maximum of 1. It has increased from 1.03 (Mar 24) to 1.18, marking an increase of 0.15.
  • For Asset Turnover Ratio (%), as of Mar 25, the value is 0.70. It has decreased from 0.86 (Mar 24) to 0.70, marking a decrease of 0.16.
  • For Current Ratio (X), as of Mar 25, the value is 1.20. This value is below the healthy minimum of 1.5. It has increased from 1.17 (Mar 24) to 1.20, marking an increase of 0.03.
  • For Quick Ratio (X), as of Mar 25, the value is 0.76. This value is below the healthy minimum of 1. It has increased from 0.70 (Mar 24) to 0.76, marking an increase of 0.06.
  • For Inventory Turnover Ratio (X), as of Mar 25, the value is 4.44. This value is within the healthy range. It has increased from 2.39 (Mar 24) to 4.44, marking an increase of 2.05.
  • For Dividend Payout Ratio (NP) (%), as of Mar 25, the value is 15.84. This value is below the healthy minimum of 20. It has increased from 14.30 (Mar 24) to 15.84, marking an increase of 1.54.
  • For Dividend Payout Ratio (CP) (%), as of Mar 25, the value is 8.97. This value is below the healthy minimum of 20. It has increased from 8.86 (Mar 24) to 8.97, marking an increase of 0.11.
  • For Earning Retention Ratio (%), as of Mar 25, the value is 84.16. This value exceeds the healthy maximum of 70. It has decreased from 85.70 (Mar 24) to 84.16, marking a decrease of 1.54.
  • For Cash Earning Retention Ratio (%), as of Mar 25, the value is 91.03. This value exceeds the healthy maximum of 70. It has decreased from 91.14 (Mar 24) to 91.03, marking a decrease of 0.11.
  • For Interest Coverage Ratio (X), as of Mar 25, the value is 5.33. This value is within the healthy range. It has decreased from 7.40 (Mar 24) to 5.33, marking a decrease of 2.07.
  • For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 3.04. This value is within the healthy range. It has decreased from 4.16 (Mar 24) to 3.04, marking a decrease of 1.12.
  • For Enterprise Value (Cr.), as of Mar 25, the value is 2,476.58. It has decreased from 2,705.02 (Mar 24) to 2,476.58, marking a decrease of 228.44.
  • For EV / Net Operating Revenue (X), as of Mar 25, the value is 1.62. This value is within the healthy range. It has decreased from 1.73 (Mar 24) to 1.62, marking a decrease of 0.11.
  • For EV / EBITDA (X), as of Mar 25, the value is 7.77. This value is within the healthy range. It has decreased from 8.63 (Mar 24) to 7.77, marking a decrease of 0.86.
  • For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 1.08. This value is within the healthy range. It has decreased from 1.35 (Mar 24) to 1.08, marking a decrease of 0.27.
  • For Retention Ratios (%), as of Mar 25, the value is 84.15. This value exceeds the healthy maximum of 70. It has decreased from 85.69 (Mar 24) to 84.15, marking a decrease of 1.54.
  • For Price / BV (X), as of Mar 25, the value is 1.84. This value is within the healthy range. It has decreased from 2.67 (Mar 24) to 1.84, marking a decrease of 0.83.
  • For Price / Net Operating Revenue (X), as of Mar 25, the value is 1.08. This value is within the healthy range. It has decreased from 1.35 (Mar 24) to 1.08, marking a decrease of 0.27.
  • For EarningsYield, as of Mar 25, the value is 0.07. This value is below the healthy minimum of 5. It has increased from 0.06 (Mar 24) to 0.07, marking an increase of 0.01.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of MM Forgings Ltd (MMFL) as of March 13, 2026 is: ₹539.20

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 March 13, 2026, MM Forgings Ltd (MMFL) is Undervalued by 20.09% compared to the current share price ₹449.00

Intrinsic Value of MM Forgings Ltd (MMFL) as of March 13, 2026 is: ₹550.78

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 March 13, 2026, MM Forgings Ltd (MMFL) is Undervalued by 22.67% compared to the current share price ₹449.00

Last 5 Year EPS CAGR: 2.15%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a low average Working Capital Days of -28.08, which is a positive sign.
  2. The company has shown consistent growth in sales (375.15 cr) and profit (104.31 cr) over the years.
  1. The stock has a low average ROCE of 13.67%, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 124.67, which may not be favorable.
  3. The company has higher borrowings (592.85) compared to reserves (499.38), which may suggest financial risk.

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 MM Forgings Ltd (MMFL):
    1. Net Profit Margin: 7.99%
      • 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: 14.42% (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%: 13.67% (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): 3.04
      • 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: 0.76
      • 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: 21.2 (Industry average Stock P/E: 72.5)
      • 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: 1.18
      • 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

M M Forgings Ltd. is a Public Limited Listed company incorporated on 21/02/1946 and has its registered office in the State of Tamil Nadu, India. Company's Corporate Identification Number(CIN) is L51102TN1946PLC001473 and registration number is 001473. Currently Company is involved in the business activities of Forging, pressing, stamping and roll-forming of metal; powder metallurgy. Company's Total Operating Revenue is Rs. 1476.96 Cr. and Equity Capital is Rs. 48.28 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Forgings�SVK Towers�, A25, 8th Floor, Industrial Estate, Chennai (Madras) Tamil Nadu 600032Contact not found
Management
NamePosition Held
Mr. Vidyashankar KrishnanChairman & Managing Director
Mr. K VenkatramananJoint Managing Director
Mrs. Sumita VidyashankarNon Executive Director
Mr. Ramnath NagarajanDirector - Commercial
Mr. Krishnakumar RamanDirector - Operations
Mrs. Rama SivaramanIndependent Director
Mr. Shankar AthreyaIndependent Director
Mr. S KrishnakumarIndependent Director
Mr. R SubramanianIndependent Director
Mr. Hari SankaranIndependent Director

FAQ

What is the intrinsic value of MM Forgings Ltd (MMFL)?

MM Forgings Ltd (MMFL)'s intrinsic value (as of 13 March 2026) is ₹550.78 which is 22.67% higher the current market price of ₹449.00, indicating undervalued. Calculated using the PE ratio method, this valuation considers the company's ₹2,166 Cr. market cap, FY2025-2026 high/low of ₹501/276, reserves of ₹925 Cr, and liabilities of ₹2,521 Cr.

What is the Market Cap of MM Forgings Ltd (MMFL)?

The Market Cap of MM Forgings Ltd (MMFL) is 2,166 Cr..

What is the current Stock Price of MM Forgings Ltd (MMFL) as on 13 March 2026?

The current stock price of MM Forgings Ltd (MMFL) as on 13 March 2026 is ₹449.

What is the High / Low of MM Forgings Ltd (MMFL) stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of MM Forgings Ltd (MMFL) stocks is ₹501/276.

What is the Stock P/E of MM Forgings Ltd (MMFL)?

The Stock P/E of MM Forgings Ltd (MMFL) is 21.2.

What is the Book Value of MM Forgings Ltd (MMFL)?

The Book Value of MM Forgings Ltd (MMFL) is 202.

What is the Dividend Yield of MM Forgings Ltd (MMFL)?

The Dividend Yield of MM Forgings Ltd (MMFL) is 0.89 %.

What is the ROCE of MM Forgings Ltd (MMFL)?

The ROCE of MM Forgings Ltd (MMFL) is 12.5 %.

What is the ROE of MM Forgings Ltd (MMFL)?

The ROE of MM Forgings Ltd (MMFL) is 15.6 %.

What is the Face Value of MM Forgings Ltd (MMFL)?

The Face Value of MM Forgings Ltd (MMFL) is 10.0.

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 MM Forgings Ltd (MMFL). 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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