Stock MMFL M M FORGINGS LIMITED
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Financials M M Forgings Limited

Equities

MMFL

INE227C01017

Iron & Steel

Market Closed - Bombay S.E.
Other stock markets
 11:15:56 26/04/2024 BST 		5-day change 1st Jan Change
1,138 INR +6.63% Intraday chart for M M Forgings Limited +7.56% +17.65%
03-22 M M Forgings Limited Announces Board Appointments, Effective 01 April 2024 CI
03-15 M M Forgings Limited Announces Board and Committee Changes CI

Valuation

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 13,125 4,009 11,953 20,441 20,109 27,476 - -
Enterprise Value (EV) 1 17,327 4,009 11,953 20,441 20,109 27,476 27,476 27,476
P/E ratio 16.1 x 8.67 x 25.6 x 18.3 x 16 x 18.5 x 15.4 x 13.8 x
Yield 0.92% 3.01% 1.01% 0.71% - 0.62% 0.65% 0.7%
Capitalization / Revenue 1.45 x 0.55 x 1.65 x 1.88 x 1.43 x 1.78 x 1.58 x 1.41 x
EV / Revenue 1.45 x 0.55 x 1.65 x 1.88 x 1.43 x 1.78 x 1.58 x 1.41 x
EV / EBITDA 6.94 x 3.2 x 9.85 x 9.28 x 7.87 x 9.56 x 8.3 x 7.29 x
EV / FCF -5.24 x 2.23 x -60.2 x 56.8 x -63.6 x -63.8 x -198 x 63.5 x
FCF Yield -19.1% 44.8% -1.66% 1.76% -1.57% -1.57% -0.51% 1.57%
Price to Book 3.01 x 0.86 x 2.39 x 3.54 x 2.92 x 3.34 x 2.77 x 2.33 x
Nbr of stocks (in thousands) 24,141 24,141 24,141 24,141 24,141 24,141 - -
Reference price 2 543.7 166.0 495.2 846.8 833.0 1,138 1,138 1,138
Announcement Date 28/05/19 29/07/20 21/06/21 25/05/22 17/05/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 9,039 7,273 7,256 10,880 14,093 15,476 17,414 19,528
EBITDA 1 1,891 1,252 1,213 2,203 2,555 2,874 3,308 3,768
EBIT 1 1,189 719.6 645.6 1,602 1,879 2,446 2,949 -
Operating Margin 13.15% 9.89% 8.9% 14.73% 13.34% 15.81% 16.93% -
Earnings before Tax (EBT) 1 1,086 574.2 549.3 1,329 1,748 2,028 2,387 2,704
Net income 1 813.5 462.4 466.1 1,118 1,256 1,486 1,782 1,994
Net margin 9% 6.36% 6.42% 10.27% 8.91% 9.6% 10.23% 10.21%
EPS 2 33.70 19.15 19.31 46.30 52.02 61.55 73.85 82.60
Free Cash Flow 1 -2,505 1,796 -198.6 359.7 -316.1 -430.5 -139 432.5
FCF margin -27.71% 24.7% -2.74% 3.31% -2.24% -2.78% -0.8% 2.21%
FCF Conversion (EBITDA) - 143.49% - 16.32% - - - 11.48%
FCF Conversion (Net income) - 388.52% - 32.18% - - - 21.68%
Dividend per Share 2 5.000 5.000 5.000 6.000 - 7.000 7.450 8.000
Announcement Date 28/05/19 29/07/20 21/06/21 25/05/22 17/05/23 - - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 2,162 2,858 2,394 - 2,891 3,136 3,329 3,363 3,598 3,655 3,957 3,782 4,173
EBITDA 328.1 564.6 434.2 - - 598.3 - - - - - - -
EBIT - - - - - - - - - - - - -
Operating Margin - - - - - - - - - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - - -
Net income 150.1 301.4 238.4 277.2 - - - - - - - - -
Net margin 6.94% 10.54% 9.96% - - - - - - - - - -
EPS 6.220 12.48 9.870 - - - - - - - - - -
Dividend per Share - - - - - - - - - - - - -
Announcement Date 08/02/21 21/06/21 13/08/21 08/11/21 07/02/22 25/05/22 10/08/22 14/11/22 13/02/23 12/08/23 - - -
1INR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: March 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 4,201 - - - - - - -
Net Cash position - - - - - - - -
Leverage (Debt/EBITDA) 2.222 x - - - - - - -
Free Cash Flow 1 -2,505 1,796 -199 360 -316 -431 -139 433
ROE (net income / shareholders' equity) 20.2% 10.2% 9.62% 20.7% 19.8% 19% 19.1% 18%
ROA (Net income/ Total Assets) - - - - - - - -
Assets 1 - - - - - - - -
Book Value Per Share 2 181.0 194.0 207.0 239.0 285.0 341.0 412.0 489.0
Cash Flow per Share - - - - - - - -
Capex 1 3,152 876 301 1,113 1,523 2,947 2,760 2,486
Capex / Sales 34.87% 12.04% 4.15% 10.23% 10.81% 19.04% 15.85% 12.73%
Announcement Date 28/05/19 29/07/20 21/06/21 25/05/22 17/05/23 - - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for M M Forgings Limited

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Iron, Steel Mills & Foundries

1st Jan change Capi.
M M FORGINGS LIMITED Stock M M Forgings Limited
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Iron, Steel Mills & Foundries
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