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Balu Forge (BALUFORGE) | Financial Analysis & Statements

Balu Forge Industries Ltd. | Mid-cap | Industrials

₹633.70

2.51%

Balu Forge vs PTC Industries Balu Forge vs Gravita India Balu Forge vs Ramkrishna Forgings Balu Forge vs RHI Magnesita India Balu Forge vs Kirloskar Ferrous Balu Forge vs NIFTY 50 | Market

TL;DR Income Statement Balance Sheet Cash Flow Key Ratios Peer Comparison

TL;DR: Financial Overview - Revenue, Profits & Key Metrics

Latest Quarterly: Mar 2025

Income Metrics

Revenue 2.7B

Gross Profit 954.0M 35.38%

Operating Income 741.1M 27.48%

Net Income 626.9M 23.25%

Balance Sheet Metrics

Total Assets 12.5B

Total Liabilities 2.0B

Shareholders Equity 10.5B

Debt to Equity 0.19

Cash Flow Metrics

Revenue & Profitability Trend

Interactive Financial Charts Not Available

This page uses interactive financial charts and dynamic data visualization tools that require JavaScript. For detailed financial analysis:

Available Financial Data:

Income statements (annual and quarterly)
Balance sheets with asset and liability details
Cash flow statements and free cash flow analysis
Key financial ratios and performance metrics
Peer comparison and industry benchmarking

All financial data is displayed in accessible table format below. Use the table headers and structure to analyze trends and compare metrics across different periods.

Balu Forge Income Statement From 2021 to 2025

Metric	2025	2024	2023	2022	2021
Revenue i	9.2B	5.5B	3.2B	2.8B	1.4B
Cost of Goods Sold i	6.0B	3.8B	2.3B	2.2B	1.1B
Gross Profit i	3.2B	1.8B	960.8M	556.6M	292.5M
Gross Margin % i	34.8%	32.0%	29.8%	20.2%	20.9%
Operating Expenses
Research & Development i	-	-	-	9.5M	15.0M
Selling, General & Administrative i	-	264.2M	175.2M	168.8M	95.9M
Other Operating Expenses i	463.4M	198.7M	177.9M	46.9M	35.5M
Total Operating Expenses i	463.4M	462.9M	353.2M	225.3M	146.5M
Operating Income i	2.5B	1.2B	530.6M	360.0M	111.0M
Operating Margin % i	26.8%	21.3%	16.4%	13.0%	7.9%
Non-Operating Items
Interest Income i	-	32.0M	321.0K	5.1M	860.0K
Interest Expense i	109.6M	87.5M	84.9M	26.5M	61.8M
Other Non-Operating Income	-	-	-	-	-
Pre-tax Income i	2.5B	1.1B	505.7M	390.9M	97.4M
Income Tax i	500.9M	201.7M	116.5M	92.4M	21.2M
Effective Tax Rate % i	19.7%	17.7%	23.0%	23.6%	21.8%
Net Income i	2.0B	936.7M	389.1M	298.4M	76.2M
Net Margin % i	22.1%	16.9%	12.1%	10.8%	5.4%
Key Metrics
EBITDA i	2.7B	1.3B	607.7M	429.9M	170.6M
EPS (Basic) i	₹19.24	₹9.80	₹4.67	₹4.05	₹2.13
EPS (Diluted) i	₹18.38	₹9.74	₹4.67	₹3.61	₹1.89
Basic Shares Outstanding i	105953950	95659478	83257977	74365845	35698110
Diluted Shares Outstanding i	105953950	95659478	83257977	74365845	35698110

Income Statement Trend

Balu Forge Balance Sheet From 2021 to 2025

Metric	2025	2024	2023	2022	2021
Assets
Current Assets
Cash & Equivalents i	930.8M	879.4M	51.5M	59.2M	23.7M
Short-term Investments i	98.0M	51.6M	41.0M	31.9M	12.0M
Accounts Receivable i	3.3B	2.2B	2.1B	1.3B	607.3M
Inventory i	980.9M	894.7M	348.2M	423.3M	199.4M
Other Current Assets	392.9M	96.4M	116.1M	58.6M	2.6M
Total Current Assets i	5.7B	4.9B	3.0B	2.3B	1.3B
Non-Current Assets
Property, Plant & Equipment i	1.5B	2.8M	2.8M	2.8M	2.8M
Goodwill i	651.0M	651.1M	651.4M	651.3M	650.9M
Intangible Assets i	155.0K	247.0K	486.0K	432.0K	36.0K
Long-term Investments	-	-	-	-	-
Other Non-Current Assets	821.6M	-1.0K	1.0K	3.0M	-
Total Non-Current Assets i	6.8B	2.2B	719.0M	498.2M	431.9M
Total Assets i	12.5B	7.1B	3.7B	2.8B	1.7B
Liabilities
Current Liabilities
Accounts Payable i	1.2B	805.8M	655.0M	452.2M	475.6M
Short-term Debt i	198.5M	239.5M	401.6M	394.8M	140.5M
Current Portion of Long-term Debt	-	-	-	-	-
Other Current Liabilities	11.2M	210.0K	120.2M	61.4M	44.0M
Total Current Liabilities i	1.8B	1.3B	1.6B	1.2B	812.5M
Non-Current Liabilities
Long-term Debt i	199.3M	248.5M	117.1M	79.2M	119.4M
Deferred Tax Liabilities i	-	-	0	447.0K	0
Other Non-Current Liabilities	-	-4.0K	1.0K	-	-1.0K
Total Non-Current Liabilities i	211.1M	257.7M	125.3M	87.1M	126.0M
Total Liabilities i	2.0B	1.6B	1.7B	1.3B	938.5M
Equity
Common Stock i	1.1B	1.0B	833.6M	823.1M	686.2M
Retained Earnings i	-	1.7B	756.2M	367.0M	76.2M
Treasury Stock i	-	-	-	-	-
Other Equity	-	-	-	-	-
Total Shareholders Equity i	10.5B	5.5B	2.0B	1.6B	775.1M
Key Metrics
Total Debt i	397.8M	487.9M	518.7M	473.9M	260.0M
Working Capital i	3.9B	3.6B	1.4B	1.2B	469.2M

Balance Sheet Composition

Balu Forge Cash Flow Statement From 2021 to 2025

Metric	2025	2024	2023	2022	2021
Operating Activities
Net Income i	2.5B	1.1B	505.7M	390.9M	97.4M
Depreciation & Amortization i	-	-	-	-	-
Stock-Based Compensation i	-	-	-	-	-
Working Capital Changes i	-1.2B	-1.1B	-752.6M	-1.0B	-420.7M
Operating Cash Flow i	1.4B	109.5M	-141.9M	-600.2M	-258.0M
Investing Activities
Capital Expenditures i	-4.2B	-	-72.6M	-76.7M	-32.3M
Acquisitions i	-	-	-	-	-
Investment Purchases i	-	-	-	-	-
Investment Sales i	-	-	-	-	-
Investing Cash Flow i	-4.2B	-	-72.6M	-76.7M	-32.3M
Financing Activities
Share Repurchases i	-	-	-	-	-
Dividends Paid i	-15.7M	-	-	-7.4M	-
Debt Issuance i	-	-	42.6M	-	-
Debt Repayment i	-	-	0	-29.2M	-90.2M
Financing Cash Flow i	2.9B	2.5B	48.5M	741.9M	12.9M
Free Cash Flow i	-2.7B	-1.7B	49.1M	-654.1M	141.0M
Net Change in Cash i	175.1M	2.6B	-166.1M	65.0M	-277.4M

Cash Flow Trend

Balu Forge Key Financial Ratios

Valuation Ratios

P/E Ratio (TTM) 31.64

Forward P/E 35.38

Price to Book 6.57

Price to Sales 7.36

PEG Ratio 0.00

Profitability Ratios

Profit Margin 23.10%

Operating Margin 28.11%

Return on Equity 19.36%

Return on Assets 16.28%

Financial Health

Current Ratio 3.19

Debt to Equity 0.04

Beta 0.46

Per Share Data

EPS (TTM) ₹20.03

Book Value per Share ₹96.44

Revenue per Share ₹84.02

Peer Financial Comparison

Company	Market Cap	P/E Ratio	P/B Ratio	ROE	Profit Margin	Debt/Equity
baluforge	72.2B	31.64	6.57	19.36%	23.10%	0.04
PTC Industries	204.7B	328.78	14.76	4.40%	17.10%	4.39
Gravita India	125.6B	35.84	6.08	15.04%	8.46%	13.76
Ramkrishna Forgings	105.7B	36.34	3.48	13.66%	9.10%	70.01
RHI Magnesita India	104.6B	63.39	2.62	5.06%	4.39%	9.50
Kirloskar Ferrous	91.7B	28.81	2.67	8.56%	4.76%	37.21

Financial data is updated regularly. All figures are in the company's reporting currency.