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

Share Price and Basic Stock Data

Last Updated: September 18, 2025, 9:54 am

Quick Insight

MM Forgings Ltd (MMFL) currently trades at a price of 325 with a market capitalization of 1,575 crore and a P/E ratio of 12.5. The company has a strong Return on Equity (ROE) of 15.6% and Return on Capital Employed (ROCE) of 12.5%, indicating efficient use of capital. With an Operating Profit Margin (OPM) of 18% and a Net Profit of 136 crore, MMFL demonstrates robust profitability. The company's healthy financial structure is evident with reserves amounting to 885 crore and a comfortable Interest Coverage Ratio (ICR) of 7.40x. However, the high level of borrowings at 1,184 crore warrants attention, requiring a close watch on its Cash Conversion Cycle (CCC) of 183 days. Overall, MM Forgings Ltd presents a solid investment opportunity, but investors should monitor its leverage and working capital management closely.

Competitors of MM Forgings Ltd (MMFL)

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Quarterly Result

Last Updated: August 20, 2025, 6:55 am

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

• For Sales, as of Jun 2025, the value is 349.00 Cr.. The value appears to be declining and may need further review. It has decreased from 355.00 Cr. (Mar 2025) to 349.00 Cr., marking a decrease of 6.00 Cr..
• For Expenses, as of Jun 2025, the value is 286.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 282.00 Cr. (Mar 2025) to 286.00 Cr., marking an increase of 4.00 Cr..
• For Operating Profit, as of Jun 2025, the value is 63.00 Cr.. The value appears to be declining and may need further review. It has decreased from 72.00 Cr. (Mar 2025) to 63.00 Cr., marking a decrease of 9.00 Cr..
• For OPM %, as of Jun 2025, the value is 18.00%. The value appears to be declining and may need further review. It has decreased from 20.00% (Mar 2025) to 18.00%, marking a decrease of 2.00%.
• For Other Income, as of Jun 2025, the value is 9.00 Cr.. The value appears strong and on an upward trend. It has increased from 8.00 Cr. (Mar 2025) to 9.00 Cr., marking an increase of 1.00 Cr..
• For Interest, as of Jun 2025, the value is 18.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 15.00 Cr. (Mar 2025) to 18.00 Cr., marking an increase of 3.00 Cr..
• For Depreciation, as of Jun 2025, the value is 22.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 23.00 Cr. (Mar 2025) to 22.00 Cr., marking a decrease of 1.00 Cr..
• For Profit before tax, as of Jun 2025, the value is 31.00 Cr.. The value appears to be declining and may need further review. It has decreased from 43.00 Cr. (Mar 2025) to 31.00 Cr., marking a decrease of 12.00 Cr..
• For Tax %, as of Jun 2025, the value is 28.00%. The value appears to be increasing, which may not be favorable. It has increased from 16.00% (Mar 2025) to 28.00%, marking an increase of 12.00%.
• For Net Profit, as of Jun 2025, the value is 22.00 Cr.. The value appears to be declining and may need further review. It has decreased from 36.00 Cr. (Mar 2025) to 22.00 Cr., marking a decrease of 14.00 Cr..
• For EPS in Rs, as of Jun 2025, the value is 4.63. The value appears to be declining and may need further review. It has decreased from 7.50 (Mar 2025) to 4.63, marking a decrease of 2.87.

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

Profit & Loss - Annual Report

Last Updated: July 22, 2025, 3:22 pm

Balance Sheet

Last Updated: July 25, 2025, 2:45 pm

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

• For Equity Capital, as of Mar 2025, the value is 48.00 Cr.. The value appears strong and on an upward trend. It has increased from 24.00 Cr. (Mar 2024) to 48.00 Cr., marking an increase of 24.00 Cr..
• For Reserves, as of Mar 2025, the value is 885.00 Cr.. The value appears strong and on an upward trend. It has increased from 792.00 Cr. (Mar 2024) to 885.00 Cr., marking an increase of 93.00 Cr..
• For Borrowings, as of Mar 2025, the value is 1,184.00 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 925.00 Cr. (Mar 2024) to 1,184.00 Cr., marking an increase of 259.00 Cr..
• For Other Liabilities, as of Mar 2025, the value is 266.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 254.00 Cr. (Mar 2024) to 266.00 Cr., marking an increase of 12.00 Cr..
• For Total Liabilities, as of Mar 2025, the value is 2,384.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 1,996.00 Cr. (Mar 2024) to 2,384.00 Cr., marking an increase of 388.00 Cr..
• For Fixed Assets, as of Mar 2025, the value is 861.00 Cr.. The value appears strong and on an upward trend. It has increased from 818.00 Cr. (Mar 2024) to 861.00 Cr., marking an increase of 43.00 Cr..
• For CWIP, as of Mar 2025, the value is 361.00 Cr.. The value appears strong and on an upward trend. It has increased from 112.00 Cr. (Mar 2024) to 361.00 Cr., marking an increase of 249.00 Cr..
• For Investments, as of Mar 2025, the value is 22.00 Cr.. The value appears to be declining and may need further review. It has decreased from 41.00 Cr. (Mar 2024) to 22.00 Cr., marking a decrease of 19.00 Cr..
• For Other Assets, as of Mar 2025, the value is 1,139.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,025.00 Cr. (Mar 2024) to 1,139.00 Cr., marking an increase of 114.00 Cr..
• For Total Assets, as of Mar 2025, the value is 2,384.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,996.00 Cr. (Mar 2024) to 2,384.00 Cr., marking an increase of 388.00 Cr..

However, the Borrowings (1,184.00 Cr.) are higher than the Reserves (885.00 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.

Cash Flow

Free Cash Flow

Share Holding Pattern

Mutual Fund Holdings

Key Financial Ratios

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 24, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 10.00.
• For Basic EPS (Rs.), as of Mar 24, the value is 55.94. This value is within the healthy range. It has increased from 53.00 (Mar 23) to 55.94, marking an increase of 2.94.
• For Diluted EPS (Rs.), as of Mar 24, the value is 55.94. This value is within the healthy range. It has increased from 53.00 (Mar 23) to 55.94, marking an increase of 2.94.
• For Cash EPS (Rs.), as of Mar 24, the value is 90.24. This value is within the healthy range. It has increased from 85.64 (Mar 23) to 90.24, marking an increase of 4.60.
• For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 326.87. It has increased from 278.93 (Mar 23) to 326.87, marking an increase of 47.94.
• For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 326.87. It has increased from 278.93 (Mar 23) to 326.87, marking an increase of 47.94.
• For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 647.48. It has increased from 605.56 (Mar 23) to 647.48, marking an increase of 41.92.
• For PBDIT / Share (Rs.), as of Mar 24, the value is 129.79. This value is within the healthy range. It has increased from 118.01 (Mar 23) to 129.79, marking an increase of 11.78.
• For PBIT / Share (Rs.), as of Mar 24, the value is 95.48. This value is within the healthy range. It has increased from 85.36 (Mar 23) to 95.48, marking an increase of 10.12.
• For PBT / Share (Rs.), as of Mar 24, the value is 78.49. This value is within the healthy range. It has increased from 73.30 (Mar 23) to 78.49, marking an increase of 5.19.
• For Net Profit / Share (Rs.), as of Mar 24, the value is 55.94. This value is within the healthy range. It has increased from 53.00 (Mar 23) to 55.94, marking an increase of 2.94.
• For NP After MI And SOA / Share (Rs.), as of Mar 24, the value is 55.94. This value is within the healthy range. It has increased from 53.00 (Mar 23) to 55.94, marking an increase of 2.94.
• For PBDIT Margin (%), as of Mar 24, the value is 20.04. This value is within the healthy range. It has increased from 19.48 (Mar 23) to 20.04, marking an increase of 0.56.
• For PBIT Margin (%), as of Mar 24, the value is 14.74. This value is within the healthy range. It has increased from 14.09 (Mar 23) to 14.74, marking an increase of 0.65.
• For PBT Margin (%), as of Mar 24, the value is 12.12. This value is within the healthy range. It has increased from 12.10 (Mar 23) to 12.12, marking an increase of 0.02.
• For Net Profit Margin (%), as of Mar 24, the value is 8.63. This value is within the healthy range. It has decreased from 8.75 (Mar 23) to 8.63, marking a decrease of 0.12.
• For NP After MI And SOA Margin (%), as of Mar 24, the value is 8.63. This value is within the healthy range. It has decreased from 8.75 (Mar 23) to 8.63, marking a decrease of 0.12.
• For Return on Networth / Equity (%), as of Mar 24, the value is 17.12. This value is within the healthy range. It has decreased from 19.01 (Mar 23) to 17.12, marking a decrease of 1.89.
• For Return on Capital Employeed (%), as of Mar 24, the value is 18.81. This value is within the healthy range. It has decreased from 19.79 (Mar 23) to 18.81, marking a decrease of 0.98.
• For Return On Assets (%), as of Mar 24, the value is 6.86. This value is within the healthy range. It has decreased from 7.70 (Mar 23) to 6.86, marking a decrease of 0.84.
• For Long Term Debt / Equity (X), as of Mar 24, the value is 0.49. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 0.49.
• For Total Debt / Equity (X), as of Mar 24, the value is 1.03. This value exceeds the healthy maximum of 1. It has increased from 0.97 (Mar 23) to 1.03, marking an increase of 0.06.
• For Asset Turnover Ratio (%), as of Mar 24, the value is 0.86. It has decreased from 0.95 (Mar 23) to 0.86, marking a decrease of 0.09.
• For Current Ratio (X), as of Mar 24, the value is 1.17. This value is below the healthy minimum of 1.5. It has decreased from 1.19 (Mar 23) to 1.17, marking a decrease of 0.02.
• For Quick Ratio (X), as of Mar 24, the value is 0.70. This value is below the healthy minimum of 1. There is no change compared to the previous period (Mar 23) which recorded 0.70.
• For Inventory Turnover Ratio (X), as of Mar 24, the value is 2.39. This value is below the healthy minimum of 4. It has decreased from 2.92 (Mar 23) to 2.39, marking a decrease of 0.53.
• For Dividend Payout Ratio (NP) (%), as of Mar 24, the value is 14.30. This value is below the healthy minimum of 20. It has increased from 11.32 (Mar 23) to 14.30, marking an increase of 2.98.
• For Dividend Payout Ratio (CP) (%), as of Mar 24, the value is 8.86. This value is below the healthy minimum of 20. It has increased from 7.00 (Mar 23) to 8.86, marking an increase of 1.86.
• For Earning Retention Ratio (%), as of Mar 24, the value is 85.70. This value exceeds the healthy maximum of 70. It has decreased from 88.68 (Mar 23) to 85.70, marking a decrease of 2.98.
• For Cash Earning Retention Ratio (%), as of Mar 24, the value is 91.14. This value exceeds the healthy maximum of 70. It has decreased from 93.00 (Mar 23) to 91.14, marking a decrease of 1.86.
• For Interest Coverage Ratio (X), as of Mar 24, the value is 7.40. This value is within the healthy range. It has decreased from 9.64 (Mar 23) to 7.40, marking a decrease of 2.24.
• For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is 4.16. This value is within the healthy range. It has decreased from 5.31 (Mar 23) to 4.16, marking a decrease of 1.15.
• For Enterprise Value (Cr.), as of Mar 24, the value is 2,705.02. It has increased from 2,447.16 (Mar 23) to 2,705.02, marking an increase of 257.86.
• For EV / Net Operating Revenue (X), as of Mar 24, the value is 1.73. This value is within the healthy range. It has increased from 1.67 (Mar 23) to 1.73, marking an increase of 0.06.
• For EV / EBITDA (X), as of Mar 24, the value is 8.63. This value is within the healthy range. It has increased from 8.59 (Mar 23) to 8.63, marking an increase of 0.04.
• For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 1.35. This value is within the healthy range. It has decreased from 1.38 (Mar 23) to 1.35, marking a decrease of 0.03.
• For Retention Ratios (%), as of Mar 24, the value is 85.69. This value exceeds the healthy maximum of 70. It has decreased from 88.67 (Mar 23) to 85.69, marking a decrease of 2.98.
• For Price / BV (X), as of Mar 24, the value is 2.67. This value is within the healthy range. It has decreased from 2.99 (Mar 23) to 2.67, marking a decrease of 0.32.
• For Price / Net Operating Revenue (X), as of Mar 24, the value is 1.35. This value is within the healthy range. It has decreased from 1.38 (Mar 23) to 1.35, marking a decrease of 0.03.
• For EarningsYield, as of Mar 24, the value is 0.06. This value is below the healthy minimum of 5. There is no change compared to the previous period (Mar 23) which recorded 0.06.

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

Fair Value

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