loader2
Partner With Us NRI

Balu Forge Industries Ltd share Price Today

Company details

300.90
305.90
222.85
324.40
6M Return 0.00%
1Y Return 9.51%
Mkt Cap.(Cr) 3,095.20
Volume 380,023
Div Yield 0.00%
OI
-
OI Chg %
-
Volume 380,023

Open Free Trading Account Online with ICICIDIRECT

Incur '0' Brokerage upto ₹500

Industrial Machinery company Balu Forge Industries announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Revenue from Operations: Rs 1,611.71 million, marking a significant increase of 30.21% YoY.
  • Other Income: Rs 43.83 million, showing a substantial growth from Rs 5.49 million in Q4FY23.
  • Total Income: Rs 1,655.54 million, indicating a growth of 33.16% YoY.
  • Total Expenses excl. D&A & Finance Cost: Rs 1,267.86 million, compared to Rs 1,031.11 million in Q4FY23.
  • EBITDA (Excluding Other Income): Rs 343.85 million, with a remarkable increase of 66.36% YoY.
  • EBITDA Margin (%): 21.33%, an improvement of 464 basis points (bps) compared to Q4FY23.

FY24 Financial Highlights:

  • Revenue from Operations: Rs 5,598.56 million, a significant increase of 71.40% compared to FY23.
  • Other Income: Rs 104.15 million, showing growth from Rs 18.64 million in FY23.
  • Total Income: Rs 5,702.71 million, indicating a growth of 68.08% YoY.
  • Total Expenses excl. D&A & Finance Cost: Rs 4,407.30 million, compared to Rs 2,768.61 million in FY23.
  • EBITDA (Excluding Other Income): Rs 1,191.21 million, with a substantial increase of 139.31% YoY.
  • EBITDA Margin (%): 21.28%, an improvement of 604 bps compared to FY23.

Commenting on the performance of FY24, Trimaan Chandock, Executive Director of BFIL stated: “We are happy to share our financial and business performance for FY24, we registered robust revenue growth of 71.40% and revenue from operations stood at Rs 5,598.56 million in FY24 compared to Rs 3,266.39 million in FY23 owing to our constant focus on client addition and continued demand for our specialized engineering products in the existing and new industries like railways, defense and heavy commercial vehicles. EBITDA grew by 139.31% and margins expanded by 604 bps from 15.24% in FY23 to 21.28% in FY24 owing to increase in scale of operations and increased demand for heavier products which tend to yield better margins. PAT margins improved by 482 bps from 11.91% in FY23 to 16.73% in FY24.

Following remarkable financial accomplishments have been attained in the fiscal under review:
1) Working Capital days improved by 26 days from 177 in the previous reporting period to 151 days showcasing our continuous focus on streamlining receivables and increasing share of value added products where we can favourably negotiate lower credit days.
2) We have diversified our revenue stream to lower dependence on agro related industry and have increased our focus to serve other industries like defence, heavy engineering and green energy.

Our superlative financial performance was assisted by the transformation that the Indian forging industry is undergoing, like global implementation of the China 1 strategy, increasing cost of production in Europe owing to geographical uncertainties and growing domestic capabilities . Moreover, there's a notable shift in focus from traditional automotive sectors towards diverse industries like defense, aerospace, power generation, construction, hydraulics, and wind energy. This diversified industry landscape offering a plethora of opportunities for us.

Owing to BFIL's dedication in executing the above strategies we have had recent additions of 3 new Global OEM’s during the year despite rigorous audits and inspections to meet stringent quality norms.

On capability augmentation front, the development of our newly acquired Mercedes Benz unit is progressing well on expected timelines and commercialization from said plant are expected to commence from Q2 FY25. This unit will enable us to produce heavier and more complex components having relatively higher realizations and margins. Currently these assets are partially operational capacities and have contributed in a healthy revenue growth and expanded margins.

In order to reap the best results of our focused approach, we are pursuing a five-pronged strategy to propel the next phase of growth at BFIL, focusing on expanding market presence, seizing new opportunities, increasing the share of value-added and more complex products in our revenues."

Result PDF

View Other Company Results

Balu Forge Industries Ltd shares SWOT Analysis

Strengths (13)

  • Strong Momentum: Price above short, medium and long term moving averages
  • Company with high TTM EPS Growth
  • Strong Annual EPS Growth

Weakness (0)

Data not found

Opportunity (3)

  • Companies with current TTM PE Ratio less than 3 Year, 5 Year and 10 Year PE
  • Highest Recovery from 52 Week Low
  • RSI indicating price strength

Threats (1)

  • Increasing Trend in Non-Core Income

Resistance and support

R1 305.0
R2 308.1
R3 310.4
Pivot

302.62

S1 299.5
S2 297.2
S3 294.1
EMA SMA
289.7
275.5
260.0
235.5
290.5
273.9
252.8
242.5
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
EBENE GLOBAL OPPORTUNITY FUND Bulk Purchase 2024-03-01 215.18 595000 BSE
BRILLIANT INVESTMENT CONSULTANTS PRIVATE LIMTED Bulk Purchase 2023-08-18 184 276299 BSE
BRILLIANT INVESTMENT CONSULTANTS PRIVATE LIMTED Bulk Sell 2023-08-18 183.52 660818 BSE
Name Category Shares
JASPALSINGH PREHLADSINGH CHANDOCK PROMOTER 53.06%
JAIKARAN JASPALSINGH CHANDOCK PROMOTER 1.5%
TRIMAAN JASPALSINGH CHANDOCK PROMOTER 1.5%

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

Balu Forge Industries Ltd Stocks COMPARISON

Financials( in Cr) Balu Forge Industries Ltd Bharat Forge Ltd AIA Engineering Ltd CIE Automotive India Ltd PTC Industries Ltd
Price 301.70 1,717.30 3,976.80 569.55 14,729.60
% Change -0.05 4.91 3.95 -1.81 17.59
Mcap Cr 3,095.20 79,955.60 37,509.18 21,606.56 21,271.02
Revenue TTM Cr 326.64 12,910.26 4,908.77 9,280.35 219.26
Net Profit TTM Cr 38.91 508.39 1,056.50 1,125.15 25.82
PE TTM 33.07 83.39 32.99 26.73 0.00
1 Year Return 9.51 107.00 22.05 14.05 302.93
ROCE 26.73 7.32 25.25 17.73 11.33
ROE 21.84 6.88 20.23 20.31 10.87
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 197.63 Cr FV: 10.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 32,317.57 -2,589.17
LAST 3M 111,725.82 -36,230.77
LAST 6M 182,653.52 -16,910.03
LAST 12M 290,144.87 98,834.05

Balu Forge Industries Ltd Information

Stock PE (TTM)
33.07
Promoter Holding
56.07%
Book Value
53.8992
ROCE
26.73%
ROE
21.84%
Description
  • Bell Agro Machina Limited (formerly known as Amaze Entertech Limited) is a Public Limited Company, incorporated in March 17, 1989. The Company was founded under the leadership of Late Mr. Prehlad Singh Chandock. The Company is in the business of manufacturing of steel forging products. The Company is a preferred supplier of crankshafts to OEM`s in India and around the world with manufacturing facilities at Belagavi in Karnataka. The Company was the first entity in India to mass-produce Crankshafts suitable for Tractor, Trucks and Passenger car applications. The Company developed a very extensive range of components for leading Original Equipment Manufacturers within India and the rest of the world & established a strong aftermarket presence in over 80 countries. The ISO/TS1 6949: 2009 accreditation of units in 2012 by TUV Nord Cert Gmbh added to competitive edge making Balu one of the very few companies to have this accreditation and symbolizing quality & excellence in the field of manufacturing crankshafts. The Company have the capability to forge any components via the closed die production route & offer the same as Raw Forged, Semi Finished, Fully Finished & Fully Assembled. It offer a range of Precision Machining Options & each process is tailored to the component in Production. It also secured & successfully supplied for over 5 years to Defense Forces in two prominent European Countries and executed supply as a single source to these nations. The Company`s solution ranges from a range of products through the Space of BEVs /PHEVs /Hydrogen Vehicles. The process involved conventional automotive excellence partnered with the incremental innovation to offer minimum weight, maximum load-bearing capacity, high reliability & overall cost-effectiveness. A state of the art dedicated R&D Centre is presently under construction which will spread over 8000 Square Meters & serve as the backbone of the Company`s new direction. The R&D center will also house Naya Energy Work`s R&D Division. A number of new material chemistry have been worked on during the many R&D Projects to assess the material compositions & applications of newer metals. The New Energy Era has led to a number of opportunities & rise to newer applications of conventional metals with innovative manufacturing processes. The Company use a number of additive manufacturing methodologies for rapid prototyping & new product development. This ensures flexibility & speed in the New Product Development process & ensures a rapid development of New Prototypes. The use of 3D scanning also adds efficiency & speeds up the entire design & development process. The In-house infrastructure for 3D scanning can measure up to 5 Million points in 2 seconds & 7-20 pm accuracy. The Additive Manufacturing Centre also formulates a good foundation for company`s venture in the Aerospace Industry with a large product portfolio that now is possible by the Additive Manufacturing Methodology. 3D printing also is a key area as part of in-house tool room strategy as key components from the manufacturing process can now be produced inhouse in the 3D printing center. The machining facilities are well supported with state-of-the-art Infrastructure namely, Comprehensive In-House Tool Room, Metallurgical Labs, Design & Process Facilities and Inspection & Tests Facilities. The Company is now an avant-garde manufacturer of fully finished and semi-finished forged crankshafts and other forged components. The Company`s incremental innovation & continuous strive to improve has awarded by making the only company to have the capability to manufacture components conforming to the New Emission Regulations & the New Energy Vehicles. The Company continually strove to broaden manufacturing base and with the acquisition of state of the art production lines from Poland in the year 2006 and 2011 from France. Its capability has expanded to produce crankshafts up to 2.5 meters in length and the installed capacity has increased to 30,000 fully finished crankshafts per month. In 1991, the first range of component was manufactured and developed at the Company`s factory. In 1995, the first component was exported to an overseas market by the Company. In the period of 1999-2004, the Company bagged the ACMA export award for excellence in exports. The Company purchased & installed the Ursus Manufacturing Plant from Ursus, Poland in the year 2006. In 2010, the Company purchased & installed the the Thyssenkrupp Plant from L`horme, France. In 2011, the company successfully achieved the milestone of building a presence in over 80 countries worldwide. In 2012, the Company got accredited with ISO/TS 16949:2009 accreditation from world renowned company TUV NORD. The Company coined `Concurrent Engineering` to achieve better flexibility & speed in development of projects during the year 2013. In 2014, the company achieved manufacturing of 1000 crankshafts in a single day. In FY 2014-15, the Company delisted its shares from Bangalore Stock Exchange Limited vide its order dated 22nd August 2014. The Shares of the Company are listed and traded on BSE Limited. During FY 2014-15, the Company reduced the Capital of Company to Rs. 35,00,000 divided into 3,50,000 equity shares of Rs. 10/- each by canceling 31,50,000 equity shares of Rs. 10/- each aggregating to Rs. 3,15,00,000/- after receiving approval from the Hon`ble High Court of Bombay vide their order dated September 26, 2014. In 2015, the Company manufactured & supplied components on railways & military application. In 2016, the Company established as a second source to Bharat Forge in the manufacturing of crankshafts. The Company became a supplier of choice to over 25 OEs spread over 6 Continents in the year 2017. During the year 2017, the name of the Company was change from Bell Agro Machina Limited to Amaze Entertech Limited and the object clause of the Company was altered to include the Object Clauses related to Information Technology and allied areas of operations vide special resolution passed through postal ballot conducted pursuant to section 110 of the companies act, 2013, read with rule 22 of the companies (management and administration) rules, 2014 on January 17, 2017. In 2018, the Company set up operations at the newly acquired Forging Factory. The Company laid the foundation to establish a new 25 acre factory in Belgaum, Karnataka and sought birth of Naya Enery, with a focus on New Energy Solutions. In 2019, the Company achieved 100% in- house production & laid the foundation for the new 6400 T & 8000 Press lines. The Company became an approved vendor to the majority of the 41 Ordnance Factories, a part of Ordnance Factory Board in India and for supply of 181 Components to the above factories in FY 2020. The Company got accredited with the 14001: 2015 & ISO 45001: 2018 Certifications during the same period. Mr. Jaspalsingh Chandock (Proprietor of M/s. Balu India) had a strategic vision of expansion and to achieve the same, considered business expansion, through reverse merger of M/s. Balu India with Amaze Entertech Limited (the Company). During 2020-21, the Company vide Business Succession Agreement dated 3 August 2021 agreed to acquire the business of M/s Balu India, a sole proprietary concern of which the business was conducted by a Proprietor Mr. Jaspalsingh Chandock. The name of Amaze Entertech Limited changed to Balu Forge Industries Limited with effect from 30 September, 2020. In accordance with the terms and conditions set out in the agreement, in consideration for succession of the business, the Company has issued on preferential allotment basis and Mr. Jaspalsingh Chandock (the Proprietor of M/s. Balu India) has subscribed, 4,78,40,000 Equity Shares of the Company without cash consideration, on 24 September 2020, resulted in the proprietor own the majority of shares and control the majority of votes in the combined entity BFIL. The Company has also made preferential allotment of 2,04,25,000 equity shares of Rs. 10/- each for cash at par to the Non Promoters (Public Category). During the year 2021, the Board approved the investment in Safa Otomotiv FZ- LLC in Dubai as a wholly owned subsidiary .

Registered Address

Unit No F-30 First Floor, Raghuleela Mega Mall, Mumbai, Maharashtra, 400067

Email : compliance:baluindustries.com
Website : http://www.baluindustries.com
Registrar

Sharepro Services India P Ltd

AGM Date (Month) : Dec
Face Value Equity Shares : 10
Market Lot Equity Shares : 1
BSE Code : 531112
NSE Code : BALUFORGE
Book Closure Date (Month) : Sep
BSE Group : B
ISIN : INE011E01029

FAQ’s on Balu Forge Industries Ltd Shares

You can buy Balu Forge Industries Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Balu Forge Industries Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Jun 14, 2024 03:54 PM the closing price of Balu Forge Industries Ltd was Rs.301.70.

The latest PE ratio of Balu Forge Industries Ltd as of Jun 14, 2024 03:54 PM is 33.07

The latest PB ratio of Balu Forge Industries Ltd as of Jun 14, 2024 03:54 PM is 0.18

The 52-week high of Balu Forge Industries Ltd share price is Rs. 324.40 while the 52-week low is Rs. 222.85

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of Jun 14, 2024 03:54 PM, the market cap of Balu Forge Industries Ltd stood at Rs. 3,095.20.

Download App

Download Our App

Play Store App Store
market app