Aditya Forge (BSE: ADTYFRG) had a P/E of 167.4× on 6 Nov 2026, above the industry P/E of 25.1×, and the shares are 15% below their 52-week high. Net profit fell 44% a year over 3 years; its ROCE of −31% is the lowest among the 7 largest Metal Fabrication peers. Its net worth is negative, as liabilities exceed assets, and borrowings are ₹3.72 Cr. It is a small-cap company with a market cap of ₹27 Cr, ranked 65th of 71 Metal Fabrication companies by market cap; the shares rose 1945% over the past year.
- ₹63.60
- ₹63.60
- ₹57.58
- ₹60.58
- 34.5K
Health check
- ReturnsAhead
+1945.0% over a year, better than 7 of 7 peers.
- Price tagNegative equity
Book value is below zero, so P/E and P/B mislead here.
- GrowthShrinking
Profit −44.2% a year over 3 years.
- ProfitabilityDistorted
With negative net worth, return ratios are meaningless.
- Balance sheetStretched
Negative net worth: liabilities exceed assets.
- Red flags3 to check
Negative net worth: liabilities exceed assets.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹27 Cr
- Small cap
- P/E
- 167.4
- Industry 25.1
- Price to book
- −8.03
- Peers 7.00
- Dividend yield
- 0.00%
- ROE
- n/a
- Peers 8.6%
- ROCE
- −31.0%
- Peers 15.6%
- Debt to equity
- n/a
- Debt ₹3.72 Cr
- EPS (TTM)
- ₹0.38
- OPM (TTM)
- 0.0%
- Net margin 0.0%
- Sales growth
- n/a
- Year-ago quarter not reported
- Profit growth
- n/a
- Year-ago quarter not reported
- Price to sales
- n/a
Strengths and risks
Risks to check
- Negative net worth: liabilities exceed assets.
- P/E of 167.4 against an industry P/E of 25.1.
- Interest coverage of only −19.8×.
About Aditya Forge
Aditya Forge Limited is engaged in the manufacturing and exporting of seamless butt-weld fittings and forged flanges. The company produces steel flanges and carbon steel butt-welded fittings using stainless steel and carbon steel as primary raw materials, with products made in accordance with international standards such as ANSI, ASME, and BS. It maintains quality control throughout the manufacturing process and provides products with original mill…
- Headquarters
- Vadodara
- Sector
- Industrials
- ISIN
- INE281H01013
- Website
- adityaforge.com
Price range
- Avg volume (3M)
- 16.4K
- 1-year return
- plus 1945.0%
- From 52-week high
- minus 15.1%
Peers · Metal Fabrication
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BHARATFORGBharat Forge | 1,740.00 | minus 0.74% | 85,029 | 121.8 | 7.23 | 15.6% | 6.7% | 14.7% | 9.7% | 26.9% | 0.49% | plus 32.3% |
| INDOMIMINDO-MIM | 1,219.50 | minus 3.93% | 60,302 | 101.1 | 20.94 | 22.8% | 21.3% | 28.6% | 15.8% | 4.9% | 0.00% | plus 64.4% |
| PTCILPTC Industries | 24,335.00 | plus 0.04% | 38,564 | 290.6 | 23.73 | 7.9% | 8.6% | 24.6% | 40.7% | 57.8% | 0.00% | plus 41.4% |
| ZETWERKZetwerk Manufacturing Businesses | 164.89 | minus 1.10% | 27,937 | – | −2.47 | −13.0% | −36.0% | 0.1% | 56.9% | – | 0.00% | plus 19.3% |
| HAPPYFORGEHappy Forgings | 1,694.50 | minus 10.00% | 15,996 | 49.0 | 7.00 | 18.9% | 15.2% | 30.6% | 9.8% | 13.1% | 0.24% | plus 85.8% |
| RKFORGERamkrishna Forgings | 693.85 | minus 4.25% | 13,087 | 68.4 | 3.51 | 4.7% | 5.6% | 17.1% | 10.5% | −33.9% | 0.58% | plus 35.6% |
| GRAVITAGravita India | 1,493.90 | minus 0.07% | 10,883 | 27.3 | 4.11 | 18.1% | 16.2% | 9.3% | 14.9% | 23.5% | 0.52% | minus 15.4% |
| ADTYFRGAditya Forge | 63.60 | plus 4.99% | 27 | 167.4 | −8.03 | −31.0% | – | 0.0% | – | −44.2% | 0.00% | plus 1945.0% |
| Median of 7 peers | – | −1.10% | 27,937 | 84.7 | 7.00 | 15.6% | 8.6% | 17.1% | 14.9% | 18.3% | 0.24% | 35.6% |
Quarterly results
| ₹ Cr | Mar 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|
| −0.3 | −0 | −0 | −0 | |
| 0 | 0 | 0 | 0 | |
| – | −0 | −0 | −0 | |
| – | – | 1231.0% | – | |
| −1.1 | −0 | 0.2 | −0 | |
| -2.47 | -0.04 | 0.49 | -0.03 |
Profit & loss
- Profit CAGR 3Y
- −44.2%
| ₹ Cr | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| – | 33.2 | – | – | – | |
| – | 32.3 | – | – | – | |
| −0.4 | 1 | −1.4 | −2.6 | −0.1 | |
| – | 2.9% | – | – | – | |
| – | −0 | – | – | 0 | |
| – | 0 | – | – | 0 | |
| – | 0.2 | – | – | – | |
| −0.1 | 0 | 6.1 | – | – | |
| – | 0.7 | – | – | −0.1 | |
| – | −6.0% | – | – | 230.9% | |
| – | 0.8 | – | – | 0.1 | |
| -1.49 | – | – | – | 0.30 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2026 |
|---|---|---|---|
| – | – | 4.3 | |
| – | – | −7.7 | |
| 10.9 | – | 3.7 | |
| 12.4 | – | 1.1 | |
| 10.7 | – | 1.4 | |
| 1.6 | 1.5 | – | |
| 0.2 | 2.1 | 0 | |
| 8.9 | – | 1.4 | |
| 10.7 | – | 1.4 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2026 |
|---|---|---|
| 0.2 | −0.4 | |
| −0.2 | – | |
| −0 | −0 | |
| −0 | −0.4 | |
| −0.2 | – | |
| – | −0.4 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
No recent news coverage found.