Balu Forge Industries Limited

Web: baluindustries.com NSE: BALUFORGE BSE: 531112 SECTOR: Capital Goods - Industrial Products

430 2(1%)

Volume

7L as on 24, Jun

Open

411

High

414

Low

396

428

VWAP

473

52 Week High

703

52 Week Low

341

Viand Research Rating

Quality Score

32/100

Growth Score

90/100

Valuation Score

50/100

Momentum Score

20/100

Analyst Recommendations

BUY/SELL

Hold | Buy | Strong Buy

Analyst Price Target

Market Cap (cr)

5,225

No. of Shares

12.1

P/E

111.81

P/B

17.39

Face Value

Div. Yield

Book Value (TTM)

CASH

DEBT

EPS (TTM)

ROE

15.55

ROCE

Profit Growth

Listing Date

29-Apr-24

Promoter Holding

54.39%

FII Holding

6.03%

DII Holding

0.89%

Price Chart

Price Performance

1 Week6%

1 Month1%

3 Months11%

6 Months23%

1 Year28%

YTD21%

Moving Average

5 Day SMA459

10 Day SMA452

20 Day SMA460

30 Day SMA467

50 Day SMA482

61 Day SMA474

80 Day SMA467

200 Day SMA624

PIVOT LEVEL

	Standard	Camarilla	Fibonacci	Woodie's
Resistance 3	522	481	505	526
Resistance 2	505	478	492	507
Resistance 1	488	474	484	491
Pivot Point	471	471	471	472
Support 1	454	468	457	457
Support 2	436	465	449	438
Support 3	419	462	436	422

Competitors/Peers

#	Symbol	MCAP	LTP	1W	1M	6M	1Y	P/E	Ind PE	Debt/Eq	NP Qtr Rs.Cr.
1	HAL	3,06,834	4588	3%	1%	5%	3%	31	94	0	9116
2	BEL	2,96,302	405	1%	6%	3%	2%	49	94	0	6062
3	ABB	1,59,609	7532	4%	3%	58%	31%	93	94	0.01	1668
4	CUMMINSIND	1,55,509	5610	1%	3%	37%	54%	74	94	0	2362
5	TMCV	1,50,246	408	4%	1%	9%	23%	0	94	0.44	3030
6	POWERINDIA	1,42,988	32080	6%	13%	90%	61%	150	94	0.02	988
7	BHEL	1,42,068	408	0%	1%	66%	66%	409	94	0.31	1600
8	CGPOWER	1,39,149	884	2%	5%	59%	34%	119	94	0.01	1199
9	POLYCAB	1,34,724	8943	3%	9%	30%	32%	52	94	0.02	2708
10	SIEMENS	1,30,874	3675	2%	3%	25%	16%	66	94	0.02	2754
Load More

Shareholding Pattern (%)

	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Apr 2025	Mar 2025	Dec 2024	Sep 2024	Jul 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023	Jun 2023	Mar 2023	Dec 2022	Sep 2022	Jun 2022	Mar 2022	Dec 2021
Promoters	(-0.51) 54.39%	(0.01) 54.87%	(0.01) 54.85%	(-0.91) 54.85%	(0.51) 55.78%	(0.51) 55.25%	(0.01) 54.71%	(-2.41) 54.71%	(1.01) 57.06%	(0.01) 56.07%	(0.01) 56.07%	(-1.41) 56.07%	(-7.91) 57.47%	(0.01) 65.41%	(0.01) 65.41%	(0.01) 65.41%	(0.01) 65.41%	(-0.81) 65.41%	(1.61) 66.24%	(0.01) 64.62%
FIIs	(-1.91) 6.03%	(-0.41) 7.94%	(0.11) 8.33%	(1.21) 8.20%	(-0.11) 6.98%	(0.11) 7.07%	(-3.51) 6.93%	(2.11) 10.43%	(-0.21) 8.32%	(-1.21) 8.51%	(0.91) 9.71%	(2.31) 8.77%	(0.91) 6.48%	(-2.11) 5.55%	(-3.91) 7.67%	(0.01) 11.59%	(0.01) 11.59%	(-0.21) 11.59%	(-0.21) 11.74%	(0.01) 11.98%
DIIs	(0.11) 0.89%	(0.01) 0.80%	(0.01) 0.83%	(-0.21) 0.86%	(0.01) 1.06%	(0.11) 1.07%	(0.01) 0.97%	(-0.51) 0.93%	(0.01) 1.40%	(-0.51) 1.43%	(-0.11) 1.88%	(-0.11) 1.95%	(2.01) 2.00%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%	(0.01) 0.00%
Government	4.02%	4.06%	4.06%	4.06%	4.13%	4.17%	4.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	34.68%	32.34%	31.93%	32.03%	32.06%	32.43%	33.16%	33.93%	33.23%	33.99%	32.34%	33.21%	34.05%	29.05%	26.92%	23.01%	23.00%	23.01%	22.02%	23.40%
No. of Shareholders	79,711	70,445	72,351	77,243	73,283	73,283	66,310	50,955	29,419	29,419	23,723	18,054	13,798	12,129	7,806	6,478	5,986	3,904	3,209	2,647

Quarterly Results

	Mar 2026	Dec 2025	Sep 2025	Jun 2025	Mar 2025	Dec 2024	Sep 2024	Jun 2024	Mar 2024	Dec 2023	Sep 2023	Jun 2023	Mar 2023	Dec 2022	Sep 2022	Jun 2022	Mar 2022	Dec 2021	Sep 2021	Jun 2021
Sales	264	311	300	233	270	256	223	175	161	147	139	112	124	89	62	53	82	81	74	48
Sales Growth % (YoY)	-2.3%	21.6%	34.4%	33%	67.3%	73.9%	60.1%	56%	30.2%	64.5%	124.6%	112.8%	50.4%	10.9%	-16.2%	9.1%	90%	88%	-	-
Sales Growth % (QoQ)	-15.1%	3.7%	28.8%	-13.7%	5.5%	14.8%	27.4%	8.7%	9.5%	5.8%	24.1%	-9.7%	39.3%	43.5%	17%	-35.4%	1.2%	9.5%	54.2%	-
Expenses	204	227	217	161	195	188	158	132	127	114	109	90	103	72	57	45	72	69	65	43
Operating Profit	60	85	83	72	75	68	65	43	34	33	30	22	21	18	5	8	10	12	9	6
OPM %	23	27	28	31	28	26	29	25	21	22	22	19	17	20	8	15	12	15	12	11
Other Income	23	4	3	2	4	10	2	1	4	2	4	0	1	3	5	3	5	1	1	2
Interest	5	5	4	2	4	2	3	2	4	4	4	2	4	3	3	2	2	1	1	2
Depreciation	3	3	2	2	1	1	1	1	1	1	0	0	0	0	0	0	0	0	0	0
Profit before tax	75	81	80	70	74	74	64	42	35	30	30	19	17	17	7	9	13	11	9	5
Tax %	13	12	19	19	15	20	25	18	18	16	22	13	12	33	34	17	20	26	23	28
Net Profit	66	71	65	57	63	59	48	34	28	25	23	17	15	11	5	7	11	8	7	4
Net Profit Growth % (QoQ)	-7%	9.2%	14%	-9.5%	6.8%	22.9%	41.2%	21.4%	12%	8.7%	35.3%	13.3%	36.4%	120%	-28.6%	-36.4%	37.5%	14.3%	75%	-
Net Profit Growth % (YoY)	4.8%	20.3%	35.4%	67.6%	125%	136%	108.7%	100%	86.7%	127.3%	360%	142.9%	36.4%	37.5%	-28.6%	75%	-	-	-	-
TTM Net Profit	259	256	244	227	204	169	135	110	93	80	66	48	38	34	31	33	30	19	11	0
EPS in Rs	5.42	6.18	5.71	5	5.73	5.39	4.39	3.33	2.76	2.46	2.32	2	1.83	1.37	0.58	0.89	1.29	1.12	0.95	0.52

Profit and Loss

	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Sales	1107	924	560	327	286	142
Sales Growth %	19.9%	65%	71.4%	14.2%	101.3%	-
Expenses	808	673	441	277	249	130
Operating Profit	300	251	119	50	37	12
OPM %	27	27	21	15	13	9
Other Income	33	17	10	13	8	5
Interest	16	11	14	11	5	7
Depreciation	10	3	2	1	1	1
Profit before tax	306	254	114	51	39	10
Tax %	15	20	18	23	24	22
Net Profit	259	204	93	39	30	8
Net Profit Growth %	27%	119.4%	138.5%	30%	275%	-
EPS in Rs	21.33	18.63	9.11	4.67	3.63	1.11
Dividend Payout %	0	1	2	0	3	0

Cash Flows

	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Cash from Operating Activity	32	148	-32	26	-58	17
Cash from Investing Activity	-354	-417	-134	-21	-8	-3
Cash from Financing Activity	315	274	249	-6	69	-12
Net Cash Flow	-7	5	83	-1	4	2

Balance Sheet

	Mar 2026	Sep 2025	Mar 2025	Sep 2024	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Equity Capital	121	114	111	109	103	83	82	69
Reserves	1473	1135	942	804	450	114	76	9
Borrowings	152	82	40	59	49	52	47	26
Other Liabilities	104	194	159	138	111	121	78	68
Total Liabilities	1851	1524	1252	1110	712	371	284	171
Fixed Assets	547	436	183	83	57	48	42	42
CWIP	277	351	417	284	130	7	7	0
Investments	0	0	0	0	0	0	0	0
Other Assets	1027	737	652	743	525	316	235	129
Total Assets	1851	1524	1252	1110	712	371	284	171

Delivery

#	Date	424 21% 513	Value (Cr)	Q/T 63	Del 53	Del 27
1	22-Jul	428	15	31	59	9
2	21-Jul	441	10	36	58	6
3	20-Jul	446	7	31	47	4
4	17-Jul	449	15	36	47	7
5	16-Jul	448	11	29	45	5
6	15-Jul	451	46	104	81	38
7	14-Jul	447	31	37	71	22
8	13-Jul	468	26	31	50	13
9	10-Jul	465	31	34	48	15
10	9-Jul	452	18	39	56	10
11	8-Jul	440	15	29	47	7
12	7-Jul	453	10	31	49	5
13	6-Jul	460	27	37	39	11
14	3-Jul	466	17	35	42	7
15	2-Jul	470	14	34	45	6
16	1-Jul	466	19	36	48	9
17	30-Jun	467	20	36	42	9
18	29-Jun	456	15	37	46	7
19	25-Jun	454	34	34	44	15
20	24-Jun	473	32	32	42	13
21	23-Jun	471	108	42	38	41
22	22-Jun	458	25	37	52	13
23	19-Jun	449	15	39	46	7
24	18-Jun	446	16	36	46	7
25	17-Jun	448	31	47	43	13
26	16-Jun	451	13	36	46	6
27	15-Jun	449	53	47	51	27
28	12-Jun	449	23	44	44	10
29	11-Jun	428	20	30	47	10
30	10-Jun	440	21	33	47	10
31	9-Jun	449	78	71	30	23
32	8-Jun	458	21	32	50	10
33	5-Jun	479	15	27	45	7
34	4-Jun	476	29	31	43	13
35	3-Jun	483	86	57	56	48
36	2-Jun	465	32	37	40	13
37	1-Jun	452	52	31	50	26
38	29-May	476	92	43	55	51
39	27-May	504	66	34	48	32
40	26-May	497	165	35	26	43
41	25-May	467	34	25	59	20
42	22-May	476	11	26	61	7
43	21-May	482	20	29	36	7
44	20-May	473	8	24	40	3
45	19-May	469	12	22	45	5
46	18-May	466	20	25	43	9
47	15-May	478	15	29	48	7
48	14-May	492	22	29	40	9

Daily Market Cap

Date	Total Market Cap	Change	Chg %
23-Jul	5,225c	111c	2.18
22-Jul	5,114c	165c	3.12
21-Jul	5,279c	93c	1.73
17-Jul	5,371c	14c	0.27
16-Jul	5,357c	4c	0.07
15-Jul	5,361c	110c	2.00
14-Jul	5,470c	137c	2.44
13-Jul	5,607c	22c	0.40
10-Jul	5,585c	199c	3.70
09-Jul	5,386c	120c	2.27
08-Jul	5,266c	165c	3.03
07-Jul	5,431c	75c	1.36
06-Jul	5,505c	143c	2.53
02-Jul	5,648c	81c	1.45
30-Jun	5,568c	131c	2.40
29-Jun	5,437c	6c	0.11
26-Jun	5,443c	62c	1.13
25-Jun	5,505c	159c	2.80
24-Jun	5,664c	5c	0.09
23-Jun	5,669c	189c	3.44
22-Jun	5,481c	99c	1.83
19-Jun	5,382c	37c	0.69
18-Jun	5,345c	3c	0.06
17-Jun	5,342c	68c	1.25
16-Jun	5,410c	60c	1.12
15-Jun	5,350c	22c	0.41
12-Jun	5,372c	275c	5.39
11-Jun	5,097c	184c	3.49
10-Jun	5,281c	0	0

Stock Checklist

Price is below from 52 week high low average: 51%

Stock is trading above all short term SMAs: NO

Stock is trading above all long term SMAs: NO

Stock is Consistently Improving Long Term: NO

FII purchased in last quarter: NO

Promoters are buying the stock: NO

Mutual Fund Holdings

Held by 12 fund scheme(s) across 5 fund house(s) as of Jul26 · Total value ₹14 Cr · 0 increasing / 0 decreasing · View in MF Pro →

Fund House	Schemes	Weight %	Change	Value (Cr)
Motilal Oswal Mutual Fund	4	0.15%	-	13.5
Groww Mutual Fund	2	0.01%	-	0.1
Angel One Mutual Fund	2	0.01%	-	0
Mirae Asset Mutual Fund	2	0.01%	-	0
Bandhan Mutual Fund	2	0.01%	-	0

Balu Forge Industries Limited

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PIVOT LEVEL

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Shareholding Pattern (%)

Quarterly Results

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Cash Flows

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