| Revenue growth | Revenue stable at ₹238cr despite phasing out ₹40cr non-fit business. |
|---|---|
| Margins | EBITDA margin improved from 11.1% in FY25 to 13.3% in FY26. |
| Order book | Order book balanced; new EV axle order win worth ₹20cr annual revenue. |
| Demand visibility | Strong growth in passenger cars, trucks, and agro-segments. |
| Management confidence | High; 15% EBITDA margin established as new floor. |
Growth
FY26 Revenue flat at ₹238cr (due to ₹40cr phase-out); EBITDA grew to ₹31.58cr (13.3% margin); Q4 PAT ₹5.88cr.
Outlook
FY27 Capex planned at ₹30cr; 20% EBITDA margin target within one year; focus on EV axle and driveline products.
Risks
Working capital stretch due to stocking commitments for key OEMs; high debt-to-equity ratio at 1.11.
Last quarter's promises, checked
Delivered
- EBITDA Margin target 15% → delivered 15.7% (= BEAT)
- PBT focus on structural improvement → delivered ₹3.95cr (multi-quarter high) (= BEAT)
- Revenue guidance similar to last year → delivered ₹238cr (stable) (= BEAT)
Partly delivered
- FY26 Capex ₹25cr → delivered ₹18cr spent by Q3 (= PARTIAL)
- New business productionizing ₹30cr → delivered ~₹20cr in 9 months (= PARTIAL)
Missed
- Working capital reduction → delivered 'higher than expected' stretch (= MISS)
- Debt-to-equity target → delivered 1.11 (remains high) (= MISS)
Earnings Call filed with BSE, NSE: KALYANIFRG. Summary written with AI assistance from the document.
Kalyani Forge Ltd: key numbers
- Share price
- ₹895.55
- Market cap
- ₹325.8 Cr
- Revenue (annual)
- ₹234.6 Cr
- Net profit (annual)
- ₹9.32 Cr
- P/E (TTM)
- 26.3×Sector 53.9×
- Promoter holding
- 58.76%+0.00% QoQ
- FII holding
- 0.00%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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