Forging and Casting Stocks and Companies in India

The largest Forging and Casting stocks in India by market value are Bharat Forge (₹85,028 crore), Sona BLW Precision Forgings (₹56,373 crore) and Happy Forgings (₹15,996 crore), at prices of 6 Nov 2026.

• Bharat Forge: ₹1,740 | market value ₹85,028 crore | P/E 84.2
• Sona BLW Precision Forgings: ₹900 | market value ₹56,373 crore | P/E 72.6
• Happy Forgings: ₹1,694.50 | market value ₹15,996 crore | P/E 48.9
• CIE Automotive India: ₹354.25 | market value ₹13,439 crore | P/E 14.5
• Ramkrishna Forgings: ₹693.85 | market value ₹12,876 crore | P/E 66.1
• Kennametal India: ₹3,585.60 | market value ₹7,880 crore | P/E 40.3
• Balu Forge Industries: ₹501.70 | market value ₹6,090 crore | P/E 22.7
• Steelcast: ₹361.10 | market value ₹3,648 crore | P/E 40.3
• Uniparts India: ₹704.60 | market value ₹3,182 crore | P/E 17.4
• Amic Forging: ₹2,103.75 | market value ₹2,429 crore | P/E 79.7

The other 10 Forging and Casting companies are in the full list below.

Share price | market value | P/E, biggest first. Prices, market values and ratios at the official close of 6 Nov 2026; the score list below uses the weekly figures.

Ranked by the 4-Factor Sector Score (growth & earnings 35, capital efficiency 25, valuation 20, relative strength 20). Prices as of 30 Oct 2026.

The largest 15 of 20 listed Indian Castings, Forgings & Fastners companies are named here; all 20 are ranked in the scorecard. This is the set of companies people mean when they search for a Nifty Castings, Forgings & Fastners index; NSE publishes its own indices only for the largest sectors, so this equal-weighted set stands in for one.

1. Bharat Forge Ltd₹84,100 cr
2. Sona BLW Precision Forgings Ltd₹57,300 cr
3. Happy Forgings Ltd₹16,500 cr
4. CIE Automotive India Ltd₹13,400 cr
5. Ramkrishna Forgings Ltd₹12,000 cr
6. Kennametal India Ltd₹8,110 cr
7. Balu Forge Industries Ltd₹5,370 cr
8. Steelcast Ltd₹3,710 cr
9. Uniparts India Ltd₹3,170 cr
10. Amic Forging Ltd₹2,440 cr
11. M M Forgings Ltd₹2,330 cr
12. Sundaram Clayton Ltd₹2,260 cr
13. Nelcast Ltd₹1,450 cr
14. Alicon Castalloy Ltd₹1,410 cr
15. Gala Precision Engineering Ltd₹1,330 cr

The remaining 5 Castings, Forgings & Fastners companies are named and ranked in the scorecard.

20 Forging and Casting companies in the Castings, Forgings & Fastners industry group have a page on Sector Alpha, by market value as of 30 October 2026, and all 20 are listed below, largest first. The largest is Bharat Forge (₹84,051 crore) and the smallest with a market value is Captain Technocast.

Download all 20 Forging and Casting companies (CSV)

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the last two years (104 weeks) this sector is 27% ahead of NIFTY 500. Earnings across its companies grew 11% on average over the last four reported quarters. It has been ahead of NIFTY 500 on a rolling three-month view for 40 weeks running.

Price and the fundamentals both up. 4 of 20 companies pass the momentum test (5+ points ahead of the Nifty 500 over 3 months, within 20% of the 52-week high).

Ahead of NIFTY 500 on the three-month view for 40 weeks running; 13 of the 20 companies in the industry index above their 200-day average (2 fewer than four weeks earlier); 4 of those 20 pass the momentum test (8 fewer than four weeks earlier); earnings rising at 13 of the 20 that report earnings.

Participation is shrinking, 12 → 4 of 20 over four weeks, after being ahead of NIFTY 500. Price-only fade, 13 of 20 members have higher trailing twelve-month earnings than a year ago, so the fade is in the price, not in the earnings.

Both lines start at 200 in the same week, so the gap between them tells the story: the sector line is an equal-weighted index of its 20 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member set to 100 at the start and the sector taking the middle value, so a price line pulling away from flat bars means the market is paying more for the same earnings. A bar turns grey when that figure is lower than the quarter before. The rules are fixed and the same everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover or tap any point to read both values and the gap.

Castings, Forgings & Fastners has done better than the NIFTY 500 by 38.8% over the last 52 weeks. Over 13 weeks the gap is a lead of 7.8%. Sona BLW Precision Forgings Ltd is the strongest against the sector itself at +29.5%. Readings are as of 30 October 2026.

Relative-strength score for the industry: 13.6 as of 30 October 2026 (broadening, falling).

Castings, Forgings & Fastners has done better than the NIFTY 500 by 38.8% over 52 weeks and by 7.8% over 13 weeks. 4 of 20 companies we track are beating the NIFTY on relative strength (how a share price has done against the index over recent months), and 9 of the 17 with a long enough price history are ahead of the industry itself.

A score that ranks each company against the others in its industry. The four parts shown always add up to the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or old evidence affects only its own part, never as a hidden adjustment.

Kennametal India Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 95.6% evidence confidence.

Balu Forge Industries Ltd scores well on valuation against its peers or its own history, but its earnings have not yet improved enough to back that up.

Ranked last: too little evidence (1 company)

Under 60% of the evidence behind this score is available, so it ranks after every company above, whatever the score.

Sona BLW Precision Forgings Ltd has the strongest one-year price move in Castings, Forgings & Fastners at +88.4%. It also leads on relative strength against the NIFTY, at +51.4%. 16 of 20 companies we track are ahead of the index on that measure. Every line covers 313 weekly closes through 30 October 2026.

Price and relative strength

Price · same starting point: Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts: the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

RS vs NIFTY 500: How far ahead of or behind NIFTY 500 each company has been running, measured against its own recent average of that comparison, so the flat line at zero IS NIFTY 500: above it the company is beating the market, below it the market is beating the company. It opens on one year.

RS vs sector: The same measure taken against Castings, Forgings & Fastners itself instead of the whole market, so the flat line at zero is the sector: above it the company is beating its own peers, which is the sharper test of the two. It opens on one year.

Biggest one-year moves

Strongest against NIFTY 500

Strongest against the sector itself

The whole curve shows repeated cycles, not an untouched early opportunity: the industry price index rose from 99.8 in December 2016 to 162.5 in December 2017, fell to 55.7 in March 2020, then reached 378.9 in September 2024. It subsequently fell to 268.4 in September 2025 before reaching 425.9 in September 2026 and easing to 399.9 in October. In the week of 5 October 2026, 78.9% of 19 Castings, Forgings & Fastners companies were beating the Nifty 500, against 78.9% on 25 May 2026.

Castings, Forgings & Fastners is one of the Top 25 sectors in our latest review.

From our industry review of 10 October 2026.

Higher factory use, better products and new customer programs are helping several companies, but the benefits are uneven. Happy Forgings and Ramkrishna report better margins, while Bharat Forge and Sona report cost pressure; CIE has weakened its growth outlook. Product diversification can last, but promised cost recovery and capacity additions still need proof.

From our industry review of 10 October 2026.

4 of 20 Castings, Forgings & Fastners companies held a results call for July to September 2026. Ramkrishna Forgings guided: Total debt cut ₹500 crore to ₹1,500 crore net, ₹1,670-1,700 crore gross, by FY27-end.

From the results calls for July to September 2026.

Big funds, foreign and Indian, kept their stake about the same over the last two quarters. Founders and promoters cut theirs by 0.3 points.

• Spending on new plants and equipment was ₹6,453 crore in the last 12 months, 8% less than a year before.
• Projects still being built shrank 9% in a year.
• 1 Castings, Forgings & Fastners call in the last quarters talked about adding capacity.

Big funds = foreign and Indian institutions, change in their share of ownership across 22 Castings, Forgings & Fastners companies, in percentage points.

Ownership and spending as of 10 October 2026.

1 chain of cause and effect links Castings, Forgings & Fastners to other industries right now. For Castings, Forgings & Fastners: Confirmed rail-wheel demand and new industrial customer programmes offer supplier work beyond vehicle sales alone.

From our cross-industry review of 10 October 2026.

The next things that show whether the Castings, Forgings & Fastners story is on course. First: July to September 2026 customer-cost recovery at Sona and gradual margin recovery at Bharat Forge.

• Ramkrishna rail-wheel approvals and bulk supply, followed by a meaningful Mexico contribution in October to December 2026.
• Happy Forgings' remaining customer price revisions and heavy-forging trials in October to December 2026.
• Uniparts' first Mexico warehouse deliveries in October to December 2026.
• M M Forgings' delayed large press entering production in January to March 2027.
• Alicon's Shikrapur production start and Gala's Chennai Phase 2 completion by March 2027.

What would change the story

On a comparable company set, sector quarterly revenue turns down year on year while operating margin also falls below the year-earlier level despite the promised customer-cost recoveries; that would break the business support for this second breakout.

From our industry review of 10 October 2026.

Bharat Forge Ltd has the highest Revenue among the 20 Castings, Forgings & Fastners companies compared here, at ₹17,543 crore. CIE Automotive India Ltd is next at ₹10,259 crore. Captain Technocast Ltd has the highest Revenue growth at 78.2%, so level and change sit with different companies. 19 of 20 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Bharat Forge Ltd is the largest at ₹17,543 crore, 71% ahead of CIE Automotive India Ltd. Captain Technocast Ltd's growth is 78.2% from a ₹221 crore base, with 9 reported quarters out of the last 20. Fast growth from a smaller base is not yet the same as proven size.

What this means: Bharat Forge Ltd is the size to compare against; Captain Technocast Ltd is the one growing fastest. The faster grower has to keep that growth and turn it into margin and returns before it counts as more than a fast start.

This conclusion weakens if: Bharat Forge Ltd's growth falls below Captain Technocast Ltd's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenue · company comparison

Revenue · largest

Revenue growth · fastest growers

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Revenue shows both size and speed. A large company can absorb shocks and pay for wide distribution; faster growth can mean market-share gains, new capacity or stronger demand. The best sign is usually growth that lasts without hurting margins and returns.

Amic Forging Ltd has the highest OPM among the 20 Castings, Forgings & Fastners companies compared here, at 33%. Balu Forge Industries Ltd is next at 28%. Kennametal India Ltd has the highest Margin change at +12 percentage points, so level and change sit with different companies. 20 of 20 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Amic Forging Ltd leads opm at 33%; Kennametal India Ltd leads margin change at +12 percentage points.

What this means: Amic Forging Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

Operating margin · company comparison

OPM · highest

Margin change · fastest expanders

All-company data · latest reported quarter

CIE Automotive India Ltd has the highest Net profit among the 20 Castings, Forgings & Fastners companies compared here, at ₹933 crore. Sona BLW Precision Forgings Ltd is next at ₹739 crore. Uni Abex Alloy Products Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: CIE Automotive India Ltd earns the most, ₹933 crore of profit over the last 12 months, 26.3% above Sona BLW Precision Forgings Ltd. Uni Abex Alloy Products Ltd shows at least 100% on the scoring scale (783.2% in full) growth from a profit base of ₹282 crore. A fast rate from a small base matters less than a large profit that keeps coming.

What this means: CIE Automotive India Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profit · company comparison

Net profit · largest

Profit growth · fastest growers

All-company data · latest reported quarter

Kennametal India Ltd has the highest ROCE among the 20 Castings, Forgings & Fastners companies compared here, at 33.2%. Steelcast Ltd is next at 32.3%. The same company also has the highest ROCE change, at +13 percentage points. 20 of 20 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Kennametal India Ltd leads ROCE at 33.2%, 0.9 percentage points above Steelcast Ltd. A high return reported once may be one good year; a high return reported year after year shows a lasting business.

What this means: Kennametal India Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

Return on capital · company comparison

Withheld from this chart: Bharat Forge Ltd (BHARATFORG): its two data sources disagree by up to 16% on reported income across 16 comparable periods, so its derived ratios are withheld; Ramkrishna Forgings Ltd (RKFORGE): its two data sources disagree by up to 372% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn, the gap is a decision, not missing data.

ROCE · highest

ROCE change · fastest improvers

All-company data · latest reported quarter

Uniparts India Ltd has the lowest PEG among the 20 Castings, Forgings & Fastners companies compared here, at 0.38×. Sterling Tools Ltd is next at 0.48×. Sundaram Clayton Ltd has the lowest P/E at 8.94×, so level and change sit with different companies. 13 of 20 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Uniparts India Ltd has the lowest comparable PEG at 0.38×, 20.8% below Sterling Tools Ltd. That would need today's multiple, the company's own history and steady growth to agree.

What this means: A low valuation is a reason to look closer at the business, not a conclusion on its own.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is worked out the same way every time, as the P/E on the last 12 months of reported earnings divided by that growth rate, never on expected earnings. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

Valuation · company comparison

PEG · lowest PEG

P/E · lowest P/E

All-company data · latest reported quarter

Castings, Forgings & Fastners companies show up on 7 of our India lists. The most are on the momentum stocks list (4 companies).

This Castings, Forgings & Fastners comparison names 6 specific ways its own evidence can mislead, all listed below. 2 of the 20 companies report on an older date than the sector's freshest reporters, so their ranks are marked stale. 2 have second-source figures left out because the two sources disagree.

Keep these limits visible

• A high growth rate can come from a very small starting figure. The page keeps level and change separate for that reason.
• A high ROCE can be temporary, or look high because the capital base is small. It is best read beside margin, cash flow and how much is spent back on the business.
• The 4-Factor Sector Score ranks published data only. Management quality, upcoming events and risks are not part of it.
• An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
• 2 companies have older fundamental reporting dates than the sector’s freshest reporters; their ranks carry a stale marker.
• 2 companies are missing from the second-source figures on purpose: the two sources disagree, so nothing from the second is drawn. Those rows have less evidence; that does not make the business weaker.

This comparison is built from the reported filings of 20 Castings, Forgings & Fastners companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Sep 2026 and market data through 30 October 2026.

2 of 20 companies have a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Bharat Forge Ltd (BHARATFORG): its two data sources disagree by up to 16% on reported income across 16 comparable periods, so its derived ratios are withheld; Ramkrishna Forgings Ltd (RKFORGE): its two data sources disagree by up to 372% on reported income across 14 comparable periods, so its derived ratios are withheld.

These 24 answers restate the Castings, Forgings & Fastners comparison above in question form. Every one is computed from the same 20 companies and the same reported filings as the rankings and charts, current through Sep 2026. Price and relative-strength answers run through 30 October 2026. Nothing here is estimated, and none of it is a recommendation.