Kalyani Forge (KALYANIFRG) had a P/E of 25.7× on 6 Nov 2026, above the industry P/E of 25.6×, and the shares are 26% below their 52-week high. It earns ROCE of 15% and ROE of 10%, and sales fell 4.0% a year over 3 years. Its dividend yield is 0.4%, and debt is 1.11× equity. It is a small-cap company with a market cap of ₹319 Cr, ranked 93rd of 140 Auto Parts companies by market cap; the shares rose 35% over the past year.
- ₹919.90
- ₹919.90
- ₹876.75
- ₹922.85
- 1.7K
Health check
- ReturnsIn line
+34.9% over a year, better than 4 of 7 peers.
- Price tagIn line
P/E 25.7 vs industry 25.6.
- GrowthShrinking
Sales −4.0% a year over 3 years.
- ProfitabilityAverage
ROCE 15.2% vs peer median 15.6%.
- Balance sheetFair
Debt 1.11× equity, interest covered 3.1×, Piotroski 6 of 9.
- Red flagsNone found
No warning signs in the headline numbers.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹319 Cr
- Small cap
- P/E
- 25.7
- Industry 25.6
- Price to book
- 3.34
- Peers 8.75
- Dividend yield
- 0.43%
- ROE
- 10.1%
- Peers 12.3%
- ROCE
- 15.2%
- Peers 15.6%
- Debt to equity
- 1.11
- Debt ₹106 Cr
- EPS (TTM)
- ₹34.06
- Face value ₹10
- OPM (TTM)
- 13.8%
- Net margin 5.2%
- Sales growth
- +4.2%
- Latest quarter vs a year ago
- Profit growth
- +218.5%
- Latest quarter vs a year ago
- Price to sales
- 1.34
- EV/EBITDA 12.7
Strengths and risks
Strengths
- Quarterly profit up 218.5% on a year ago.
About Kalyani Forge
Kalyani Forge Limited, an engineering company, manufactures and sells forged, machined, and assembled products in India. The company offers engine components, including connecting rod, crank and cam shafts, retainer and cross head valves, injector clamp, rocker arm, balance weight, cam lobe, and others; driveline parts, such as tulips, inner and outer race, tripod, spider, yoke shaft, double yoke, and gear blanks; and axle products for chassis systems,…
- Headquarters
- Pune
- Sector
- Consumer Cyclical
- ISIN
- INE314G01014
- Website
- kalyaniforge.com
Price range
- Avg volume (3M)
- 9.9K
- 1-year return
- plus 34.9%
- From 52-week high
- minus 26.5%
Peers · Auto Parts
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MOTHERSONSamvardhana Motherson International | 158.55 | minus 5.62% | 1,68,549 | 35.4 | 3.70 | 11.5% | 10.2% | 9.6% | 17.1% | 37.2% | 0.32% | plus 60.8% |
| BOSCHLTDBosch | 50,700.00 | minus 3.38% | 1,49,545 | 54.2 | 19.50 | 24.2% | 19.4% | 13.4% | 10.3% | 24.8% | 0.53% | plus 38.6% |
| UNOMINDAUNO Minda | 1,326.00 | minus 0.67% | 76,572 | 58.1 | 11.21 | 20.5% | 19.1% | 11.0% | 20.5% | 22.3% | 0.22% | plus 6.6% |
| SONACOMSSona BLW Precision Forgings | 900.00 | minus 1.67% | 56,266 | 75.0 | 8.75 | 13.2% | 11.9% | 23.2% | 18.8% | 17.4% | 0.40% | plus 89.2% |
| SCHAEFFLERSchaeffler India | 3,519.70 | minus 1.17% | 55,014 | 41.9 | 8.97 | 25.7% | 20.2% | 17.9% | 12.3% | 9.4% | 0.99% | minus 13.9% |
| MRFMRF | 1,25,295.00 | minus 0.50% | 53,139 | 22.0 | 2.53 | 15.6% | 12.3% | 15.1% | 10.6% | 46.7% | 0.19% | minus 20.3% |
| BALKRISINDBalkrishna Industries | 2,410.00 | plus 0.34% | 46,589 | 32.7 | 4.25 | 13.8% | 11.6% | 21.1% | 3.6% | 5.5% | 0.71% | plus 1.6% |
| KALYANIFRGKalyani Forge | 876.75 | minus 5.00% | 319 | 25.7 | 3.34 | 15.2% | 10.1% | 13.8% | −4.0% | – | 0.43% | plus 34.9% |
| Median of 7 peers | – | −1.17% | 56,266 | 41.9 | 8.75 | 15.6% | 12.3% | 15.1% | 12.3% | 22.3% | 0.40% | 6.6% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 64.1 | 55.7 | 57.9 | 57 | 66.8 | |
| 58.2 | 49.1 | 49.1 | 50.2 | 56.2 | |
| 5.9 | 6.6 | 8.8 | 6.7 | 10.6 | |
| 9.3% | 11.8% | 15.1% | 11.8% | 15.9% | |
| 0.4 | 0.6 | 0.4 | 2.3 | 0.3 | |
| 2.3 | 2.4 | 2.7 | 0.2 | 1.7 | |
| 2 | 2.4 | 2.5 | 2.6 | 3 | |
| 2 | 2.3 | 3.9 | 6.1 | 6.2 | |
| 30.6% | 5.1% | 103.0% | 4.1% | 27.2% | |
| 1.4 | 2.2 | −0.1 | 5.9 | 4.5 | |
| 3.87 | 5.91 | -0.33 | 16.17 | 12.31 |
Profit & loss
- Sales CAGR 3Y
- −4.0%
- ROE
- 10.1%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 265 | 236 | 236 | 235 | |
| – | minus 10.9% | minus 0.1% | minus 0.5% | |
| 251 | 219 | 212 | 208 | |
| 14.2 | 17.3 | 24 | 26.7 | |
| 5.4% | 7.3% | 10.2% | 11.4% | |
| 4.7 | 6.6 | 2.3 | 2.1 | |
| 2.8 | 5.5 | 6.7 | 6.9 | |
| 11.2 | 6.2 | 7.9 | 7.5 | |
| −3.6 | −6.6 | −0.1 | −0 | |
| 1.3 | 5.6 | 11.6 | 14.4 | |
| 114.4% | 19.0% | 28.3% | 35.2% | |
| −0.2 | 4.6 | 8.3 | 9.3 | |
| – | – | +82.7% | +12.1% | |
| -0.50 | 12.51 | 22.86 | 25.60 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 3.6 | 3.6 | 3.6 | 3.6 | |
| 74.1 | 78.4 | 86 | 91.9 | |
| 38.2 | 60.9 | 71.6 | 106 | |
| 64.6 | 61.8 | 69 | 50.3 | |
| 181 | 205 | 230 | 251 | |
| 43.1 | 62.1 | 78.5 | 99.5 | |
| 3.9 | 6.4 | 18.2 | 13 | |
| 0 | 0 | 0 | 0 | |
| 1 | 1.4 | 1.5 | 1.2 | |
| 132 | 135 | 132 | 138 | |
| 181 | 205 | 230 | 251 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −2.5 | 10 | 21.8 | 7.5 | |
| −5.8 | −25.8 | −24.3 | −33.2 | |
| 7.5 | 15.7 | 2.6 | 24.9 | |
| −0.8 | −0.1 | 0.1 | −0.8 | |
| −7.6 | −26 | −24.3 | −33.1 | |
| −10.1 | −16 | −2.5 | −25.7 | |
| −0.8 | −1.1 | −1 | −1.5 |
Shareholding pattern
- Promoters58.76%
- Public41.24%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 58.76% | 41.24% | 0.00 | |
| 30 Jun 2026 | 58.76% | 41.24% | 0.00 | |
| 31 Mar 2026 | 58.76% | 41.24% | 0.00 | |
| 31 Dec 2025 | 58.76% | 41.24% | 0.00 | |
| 30 Sep 2025 | 58.76% | 41.24% | – |
Major shareholders
Filings & events
News
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