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M M Forgings Ltd share Price Today

Company details

1,194.00
1,217.90
825.00
1,300.00
6M Return 19.83%
1Y Return 37.42%
Mkt Cap.(Cr) 2,892.33
Volume 53,603
Div Yield 0.67%
OI
-
OI Chg %
-
Volume 53,603

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About The Stock

    MM Forgings (MMF) is a prominent forging player serving India, Europe and US markets (FY22 geographical mix – domestic ~46%, exports ~54%).

    • FY22 segment mix – CV 85%, PV 10%, Others 5%
    • FY22 capacity utilisation at ~61%, capacity to surpass 1.2 lakh tonne in FY23
Q4FY22

    MMF reported healthy Q4FY22 results.

    • Standalone revenue was at ₹ 313.6 crore up 10% QoQ
    • EBITDA margins were at 17.8%, down 160 bps QoQ, amid ~85 bps QoQ gross margin decline as well as higher overhead costs
    • Consequent PAT de-grew ~6% sequentially to ₹ 29.2 crore
    • Guides for 80,000-90,000 tonnage in FY23E vs. ~62,000 tonnage in FY22

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Research view on more stocks

Industrial Products company M M Forgings announced FY24 results:

  • During the year, revenue from operations grew by 9% at Rs 1,553 crore, as against Rs 1,430 crore recorded in FY23.
  • Operating EBITDA for the first time crossed Rs 300 crore and stands at Rs 314 crore . against Rs 275 crore., thereby improving by 14% over the last year.
  • PBT for F24 grew by 13% at Rs 199 crore as compared to Rs 176 crore reported during the previous year.
  • PAT for the current year grew by 15% at Rs 145 crore as compared to Rs 126 crore reported during the year ended March 2023.
  • The Domestic sales, during the year stands at Rs 948 crore and Export sales is at Rs 563 crore Export sales grew by 15% during FY24.
  • In April 2024, the company completed 50 years of forging operations. To commemorate this golden jubilee year, the Company announces a 1:1 bonus issue of shares, subject to the approval of shareholders. This is the fourth bonus issue since going public. The earlier bonus issues were in the years 2005, 2008, and 2018. Further, to reward the shareholders on this occasion, the dividend is increased to Rs 8 per share.

Founder S. E. Krishnan said, " MM FORGINGS LIMITED, a leading forging manufacturer in India, focuses on achieving customer satisfaction through quality, timely deliveries, andcompetitive pricing. As a one-stop shop for domestic and international customers, MMF prioritizes "Forging Excellence" in product quality and stakeholder relationships.

As Chairman of MMF, I am excited to announce the company's 50thyear of Forging Excellence, highlighting its financial performance, capacity expansion, and value addition, as well as its operational excellence and board expansion.

I express my gratitude to my colleagues, customers, suppliers, financial institutions, the state and central government, and shareholders for their support, acknowledging the achievement of this milestone through the grace of the Almighty and the blessings of my Guru." 

Result PDF

View Other Company Results

M M Forgings Ltd shares SWOT Analysis

Strengths (7)

  • Strong Momentum: Price above short, medium and long term moving averages
  • Growth in Net Profit with increasing Profit Margin (QoQ)
  • Growth in Quarterly Net Profit with increasing Profit Margin (YoY)

Weakness (1)

  • MFs decreased their shareholding last quarter

Opportunity (1)

  • RSI indicating price strength

Threats (1)

  • Increasing Trend in Non-Core Income

Resistance and support

R1 1,212.7
R2 1,227.2
R3 1,236.6
Pivot

1,203.33

S1 1,188.8
S2 1,179.4
S3 1,164.9
EMA SMA
1,179.3
1,116.5
1,051.1
992.4
1,184.9
1,104.1
1,009.4
963.1
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
GRAVITON RESEARCH CAPITAL LLP Bulk Purchase 2024-05-27 1259.63 129192 NSE
GRAVITON RESEARCH CAPITAL LLP Bulk Sell 2024-05-27 1260.09 129192 NSE
GRAVITON RESEARCH CAPITAL LLP Bulk Purchase 2023-12-18 1007.3 149019 NSE
Name Category Shares
S LAKSHMAN PROMOTER 3.08%
LAKSHMI RAMACHANDRAN PROMOTER 2.35%
R SUBRAMONIAN PROMOTER 0.64%
SYNMAX CONSULTANTS & TRADING PVT LTD PROMOTER 24.01%
VIDYASHANKAR KRISHNAN PROMOTER 11.27%
K VENKATRAMANAN PROMOTER 10.71%
SIVASUNDAR PRIVATE LTD PROMOTER 3.88%

OUR RESEARCH VIEW

Investment recommendation
Call Date
07 Jun 2022
Entry Price 890.00
Target Price 1,250.00
Duration
12-18 Month

FINANCIALS

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

M M Forgings Ltd Stocks COMPARISON

Financials( in Cr) M M Forgings Ltd Bharat Forge Ltd AIA Engineering Ltd CIE Automotive India Ltd PTC Industries Ltd
Price 1,198.10 1,696.70 4,121.60 582.10 13,853.70
% Change -0.64 -1.20 3.64 2.20 -5.95
Mcap Cr 2,892.33 78,996.49 38,874.93 22,082.66 20,006.13
Revenue TTM Cr 1,563.07 12,910.26 4,908.77 9,280.35 219.26
Net Profit TTM Cr 135.04 508.39 1,056.50 1,125.15 25.82
PE TTM 21.58 82.39 34.21 27.35 475.07
1 Year Return 37.42 105.52 21.17 10.58 243.56
ROCE 14.43 7.32 25.25 17.73 11.33
ROE 17.88 6.88 20.23 20.31 10.87
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 788.73 Cr FV: 10.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 32,550.52 645.34
LAST 3M 103,712.87 -29,605.88
LAST 6M 176,931.00 -14,371.69
LAST 12M 290,309.13 100,312.35

M M Forgings Ltd Information

Stock PE (TTM)
21.58
Promoter Holding
56.34%
Book Value
326.7219
ROCE
14.43%
ROE
17.88%
Description
  • Incorporated in 1946 Madras Motors Pvt Ltd, the company went public in 1975. Originally dealing in imported motorcycles, it later diversified to establish steel forging plants. The company changed to its present name, M M Forgings on 1 Apr.`93. It was promoted by S E Krishnan and S R Subramanian. The company manufactures carbon and alloy steel forgings -- with individual forging pieces weighing between 15 kg and 60 kg -- at its two forging units at Singampunari, Madurai district, and Viralimalai, Trichy district, (combined capacity : 15,000 tpa) both in Tamilnadu. The company`s products form important inputs for various critical components in the automobile, tractor, earth-moving, power, material handling, oil, railway and core engineering industries. The company`s clientele includes Ashok Leyland, BEML, BHEL, Audco Valves and Tractor Engineers. During 1994-95, the company has been accredited with the ISO 9002 certificate. The technical collaboration with Tokai Corporation of Japan has enabled the company to improve its quality and productivity. During 2001, the company has increased its installed capacity of steel forgings from 15000 tpa to 20000 tpa. The technology collaboration with Tokai Corporation of Japan has enabled the company to improve its quality and productivity. The company has completed 2 Wind farm in Muppandal and the same is expected to generated 6 Million KWHr of power each year. In 2002 the company has merged its wholly owned subsidiary viz Gears India Madaras Ltd, The production capacity of Steel Forgings is being increased from 20000 tonnes to 26500 tonnes and this is under process at the end of the financial year 2003-04.Machining capacity has also been substantially increased in line with changing customer demand.

Registered Address

SVK Tower A/24/25 Guindy, Thiru Vi Ka Industrial Estate, Chennai, Tamil Nadu, 600032

Tel : 91-44-71601000
Email : corporate:mmforgings.com ; mmforge:mmforgings.com
Website : http://www.mmforgings.com
Registrar

Cameo Corporate Services Ltd

AGM Date (Month) : Aug
Face Value Equity Shares : 10
Market Lot Equity Shares : 1
BSE Code : 522241
NSE Code : MMFL
Book Closure Date (Month) :
BSE Group : B
ISIN : INE227C01017

FAQ’s on M M Forgings Ltd Shares

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

Company share prices and volatile and keep changing according to the market conditions. As of Jun 18, 2024 03:59 PM the closing price of M M Forgings Ltd was Rs.1,198.10.

The latest PE ratio of M M Forgings Ltd as of Jun 18, 2024 03:59 PM is 21.58

The latest PB ratio of M M Forgings Ltd as of Jun 18, 2024 03:59 PM is 0.27

The 52-week high of M M Forgings Ltd share price is Rs. 1,300.00 while the 52-week low is Rs. 825.00

According to analyst recommendations, M M Forgings Ltd Share has a "Buy" rating for the long term.

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 18, 2024 03:59 PM, the market cap of M M Forgings Ltd stood at Rs. 2,892.33.

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