Balu Forge Industries (531112) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 consolidated revenue from operations was ₹30,071.47 lakh, up 29.0% YoY; net profit was ₹6,608.82 lakh, up 15.9%.

• Defence, Aerospace and Railways made up ~50% of the order book; a maiden US aerospace order, NATO-affiliated ammunition agreement and artillery-shell production advanced strategic-sector growth.

Financial highlights

• Consolidated total income was ₹30,457.96 lakh vs ₹23,487.89 lakh YoY; PBT was ₹8,072.79 lakh vs ₹7,003.88 lakh.

• EBITDA was ₹848 Mn, up 17.3% YoY; margin was 28.2%, vs 31.0% in Q1 FY26 and 22.7% in Q4 FY26.

• Standalone revenue was ₹17,501.19 lakh and net profit ₹3,778.99 lakh; prior-year figures were ₹15,206.60 lakh and ₹3,404.31 lakh.

• Consolidated finance cost was ₹459.53 lakh vs ₹223.17 lakh YoY; raw material costs rose 32.9% YoY to ₹1,915 Mn.

Outlook and guidance

• The 46-acre Belgaum facility is expected to raise machining capacity to 80,000 MTPA by FY27; stated plans target forging capacity of 150,000 MTPA and machining capacity of 80,000 MTPA.

• Additional heavy forging presses and machining lines are planned to support order execution, aerospace and defence programs, and global client onboarding.

• The 3–5 year strategy prioritizes capacity, technology and global reach, with expansion into defence platforms, aerospace assemblies, aluminium and titanium.