M M Forgings (522241) Q4 25/26 earnings summary

Executive summary

• Maintained operational stability amid global economic volatility and geopolitical uncertainties through proactive sourcing, efficiency improvements, and disciplined cost management.

• Audited standalone and consolidated financial results for the quarter and year ended 31 March 2026 were approved, with unmodified opinions from statutory auditors.

• Demand visibility remains strong, supported by a healthy order pipeline, diversified customer base, and strengthening domestic market conditions.

• The company is engaged in only one segment and a proposed merger with DVS Industries Private Limited is pending regulatory approval.

Financial highlights

• FY26 consolidated revenue reached ₹1,605.62Cr (₹16,056.2m), up from ₹1,547.82Cr (₹15,478.2m) in FY25; standalone revenue at ₹1,570.05Cr (₹15,700.5m), up from ₹1,506.51Cr (₹15,065.1m) year-over-year.

• Consolidated EBITDA for FY26 was ₹296.17Cr, compared to ₹318.78Cr in FY25; standalone EBITDA at ₹300.37Cr, down from ₹323.72Cr.

• FY26 consolidated PAT was ₹98.67Cr (₹986.7m), down from ₹121.86Cr (₹1,218.6m) in FY25; standalone PAT at ₹129.96Cr (₹1,299.6m), down from ₹136.29Cr (₹1,362.9m).

• Q4FY26 standalone revenue grew 15% year-over-year and 1.2% sequentially; EBITDA increased 1.2% year-over-year and 7% sequentially.

• Standalone EPS for FY26 was ₹23.58, compared to ₹28.23 in FY25; consolidated EPS was ₹20.44, compared to ₹25.24 in FY25.

Outlook and guidance

• Transition to 100% green energy began in FY26, with full operational impact expected from FY27, aiming to improve profitability margins and operational efficiency.

• Continued focus on capacity expansion, process optimization, and prudent financial management to sustain growth and profitability.

• The company awaits regulatory approval for the merger with its wholly-owned subsidiary, DVS Industries Private Limited.