As of 6 Nov 2026, El Forge trades at 13.7× trailing earnings, below the industry P/E of 25.1×, and the shares are 26% below their 52-week high. It earns ROCE of 9.2% and ROE of 9.4%, and sales grew 12% a year over 3 years. Debt is 0.17× equity. It is a small-cap company with a market cap of ₹44 Cr, ranked 64th of 71 Metal Fabrication companies by market cap; the shares rose 25% over the past year.
- ₹21.90
- ₹22.70
- ₹21.72
- ₹21.94
- 1.3K
Health check
- ReturnsBehind
+25.0% over a year, better than 2 of 7 peers.
- Price tagCheaper
P/E 13.7 vs industry 25.1.
- GrowthSteady
Sales +11.8% a year over 3 years.
- ProfitabilityWeak
ROCE 9.2% vs peer median 15.6%.
- Balance sheetSolid
Debt 0.17× equity, interest covered 5.9×, Piotroski 9 of 9.
- Red flagsNone found
No warning signs in the headline numbers.
Small cap
Moves with the market
Key metrics
- Market cap
- ₹44 Cr
- Small cap
- P/E
- 13.7
- Industry 25.1
- Price to book
- 1.62
- Peers 7.00
- Dividend yield
- 0.00%
- ROE
- 9.4%
- Peers 8.6%
- ROCE
- 9.2%
- Peers 15.6%
- Debt to equity
- 0.17
- Debt ₹4.69 Cr
- EPS (TTM)
- ₹1.59
- OPM (TTM)
- 6.2%
- Net margin 3.0%
- Sales growth
- +14.9%
- Latest quarter vs a year ago
- Profit growth
- +126.2%
- Latest quarter vs a year ago
- Price to sales
- 0.55
- EV/EBITDA 10.1
Strengths and risks
Strengths
- Quarterly profit up 126.2% on a year ago.
- P/E of 13.7 against an industry P/E of 25.1.
- Positive operating cash flow in each of the last 4 years.
About El Forge
El Forge Limited manufactures and sells steel forgings for the automobile industry in India. The company offers fuel injection forgings, steering rods, tie rods, engine and gear boxes, starter items, common and hot forged rails, levers for vehicles braking systems, closed die forgings, light duty crankshafts, connecting rods, rocker arms, transmission parts, wheel hubs, valve parts, claw poles, and sockets for ball joints. It also provides computer aided…
- Headquarters
- Chennai
- Employees
- 146
- Sector
- Industrials
- ISIN
- INE158F01017
- Website
- elforge.com
Price range
- Avg volume (3M)
- 54.8K
- 1-year return
- plus 25.0%
- From 52-week high
- minus 26.1%
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% |
| ELFORGEEl Forge | 21.73 | minus 0.96% | 44 | 13.7 | 1.62 | 9.2% | 9.4% | 6.2% | 11.8% | – | 0.00% | plus 25.0% |
| 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 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 19.6 | 17.1 | 20.2 | 22.5 | 21.8 | |
| 18.6 | 16.4 | 19.3 | 20.7 | 20.1 | |
| 1 | 0.7 | 0.8 | 1.8 | 1.7 | |
| 4.9% | 4.4% | 4.2% | 7.9% | 7.8% | |
| 0.2 | 0.1 | 0.1 | 0.2 | 0.1 | |
| 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | |
| 0.5 | 0.5 | 0.3 | 0.6 | 0.5 | |
| – | – | 0 | 0.1 | – | |
| 0.6 | 0.3 | 0.5 | 1.2 | 1.2 | |
| 0.6 | 0.3 | 0.5 | 1.2 | 1.2 | |
| 0.27 | 0.15 | 0.25 | 0.61 | 0.58 |
Profit & loss
- Sales CAGR 3Y
- +11.8%
- ROE
- 9.4%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 52.3 | 68.3 | 68.7 | 73.2 | |
| – | +30.6% | +0.5% | +6.6% | |
| 49.4 | 63.3 | 64.7 | 69 | |
| 3 | 5 | 4 | 4.2 | |
| 5.7% | 7.3% | 5.9% | 5.8% | |
| 0.9 | 0.4 | 0.4 | 0.5 | |
| 0.4 | 0.5 | 0.5 | 0.5 | |
| 4.9 | 1.8 | 1.8 | 1.8 | |
| −0.9 | 68.1 | 0.1 | 0 | |
| −2.3 | 71.1 | 2.3 | 2.4 | |
| −2.3 | 71.1 | 2.3 | 2.4 | |
| – | – | minus 96.8% | +6.0% | |
| -1.13 | 34.99 | 1.13 | 1.20 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 20.3 | 20.3 | 20.3 | 20.3 | |
| −81.1 | 2.2 | 4.5 | 6.9 | |
| 4.7 | 4.7 | 4.7 | 4.7 | |
| 93.2 | 10.8 | 9.8 | 8.9 | |
| 37.1 | 38 | 39.2 | 40.8 | |
| 23.5 | 21.8 | 21.2 | 21 | |
| 0 | – | – | 0 | |
| 0 | 0 | 0.7 | 0.3 | |
| 2.3 | 2.9 | 4 | 5.3 | |
| 11.3 | 13.2 | 13.4 | 14.2 | |
| 37.1 | 38 | 39.2 | 40.8 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 3.3 | 1.2 | 2.4 | 3.1 | |
| −2 | −0.1 | −0.9 | −1.4 | |
| −0.4 | −0.5 | −0.5 | −0.5 | |
| 0.9 | 0.7 | 1 | 1.3 | |
| −1.8 | −0.4 | – | – | |
| 1.5 | 0.9 | 2.4 | 3.1 |
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.