# Balu Forge Industries share price today (Balu Forge Industries Ltd, NSE: BALUFORGE)

> Balu Forge Industries share price today: ₹486.70 at the NSE close on 3 November 2026, down 24.6% in a year. Balu Forge Industries (NSE: BALUFORGE) is worth ₹5,914 crore, trades at a P/E of 22.0 and has closed between ₹379.75 and ₹639.35 over the past 52 weeks. > Balu Forge Industries Ltd's earnings have grown faster than its share price. Earnings per share grew +14.5% in a year while the price moved −24.6%. BALUFORGE · Castings, Forgings & Fastners · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/balu-forge-industries-ltd

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## Key numbers

- Business trend: Slowing from a peak, from the last 12 quarters
- Price: ₹486.70 (−24.6% in a year)
- P/E: 22.0× (lower than 76% of the last 5 years)
- Revenue (Jun 2026): ₹301 Cr (+29.2% on a year ago)
- Profit (Jun 2026): ₹66.0 Cr (+15.8% on a year ago)
- Operating margin: 28.0% (−3.0 points on a year ago)
- ROCE: 23%, FY26
- ROIC: 15.3%, against a 12.0% cost of capital: +3.3 points

The main question: profits are rising, but only 27% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the Balu Forge Industries share price today? Balu Forge Industries Ltd's share price was ₹486.70 at the close on 3 November 2026. It has been stalling near its high for 6 weeks. That is 3.3% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹380 and ₹639, and at that close it sat 41% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 13 weeks in a row. Over the last 11 years the share price moved +984% while the NIFTY 500 moved +243%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Balu Forge Industries this quarter? Two changes stood out: profit up on a year earlier for 12 quarters in a row (every quarter we can compare) and operating margin down 3 points on a year earlier. 1. Profit up on a year earlier for 12 quarters in a row (every quarter we can compare) In the June 2026 quarter profit was ₹66 crore, +15.8% on a year earlier. 2. Operating margin down 3 points on a year earlier 28% in the June 2026 quarter, from 31%. ## What are Balu Forge Industries' latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Balu Forge Industries reported revenue of ₹301 crore, up 29.2% from ₹233 crore a year earlier, and a profit of ₹66.0 crore, up 15.8% from ₹57.0 crore. ### Balu Forge Industries results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹301 crore | ₹233 crore | +29.2% |
| Profit | ₹66.0 crore | ₹57.0 crore | +15.8% |
| Earnings per share | ₹5.44 | ₹5.00 | +8.8% |
| Operating margin | 28.0% | 31.0% | −3.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Balu Forge Industries share price history? Balu Forge Industries closed at ₹486.70 on 3 November 2026, down 24.6% from ₹645.15 a year earlier (31 October 2025) and up 86.6% over five years. Its highest weekly close since March 2016 was ₹842.55 on 18 October 2024. ### Balu Forge Industries share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹421.50 | +15.5% |
| 1 month ago · 1 Oct 2026 | ₹488.50 | −0.4% |
| 6 months ago · 30 Apr 2026 | ₹542.15 | −10.2% |
| 1 year ago · 31 Oct 2025 | ₹645.15 | −24.6% |
| 3 years ago · 3 Nov 2023 | ₹242.00 | +101.1% |
| 5 years ago · 4 Nov 2021 | ₹260.85 | +86.6% |
| 10 years ago · 4 Nov 2016 | ₹67.75 | +618.4% |
| Earliest weekly close in our records · 31 Mar 2016 | ₹44.90 | +984.0% |
| Highest weekly close since March 2016 · 18 Oct 2024 | ₹842.55 | −42.2% |
| Lowest weekly close since March 2016 · 30 Jan 2020 | ₹29.50 | +1,549.8% |
| 52-week high (weekly close) · 28 Aug 2026 | ₹639.35 | −23.9% |
| 52-week low (weekly close) · 23 Jan 2026 | ₹379.75 | +28.2% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (479 weekly closes from 31 March 2016 to 3 November 2026.)

## What is the latest news on Balu Forge Industries? 3 Nov 2026: Balu Forge Industries closed at ₹486.70, up 15.5% on the week and down 0.4% on the month. 18 Sep 2026: ex-date for a dividend of ₹0.15 a share. ### Earlier

- Results for April to June 2026: Revenue up 29.2% and profit up 15.8% on a year earlier. ## What dividend does Balu Forge Industries pay? Balu Forge Industries paid ₹0.15 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.03% at the ₹486.70 close on 3 November 2026. The last was a dividend of ₹0.15 a share, ex-date 18 September 2026. ### Balu Forge Industries dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 18 Sep 2026 | ₹0.15 | Dividend |
| 19 Sep 2025 | ₹0.15 | Dividend |
| 20 Sep 2024 | ₹0.15 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 2 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Balu Forge Industries Ltd paid out 1% of its profit as dividends in FY26, and it paid a dividend in 4 of its last 12 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## Which stock lists is Balu Forge Industries on? Balu Forge Industries is not on any of our India lists this week. ## Is Balu Forge Industries profitable? Balu Forge Industries Ltd earned ₹66.0 Cr of net profit in the Jun 2026 quarter, +15.8% on the same quarter a year earlier. That is the 12th quarter in a row of profit growth. Full-year FY26 profit was ₹259 Cr. That is 21.9% of the quarter's revenue. The same quarter a year earlier earned ₹57.0 Cr. For the full year, FY26 profit was ₹259 Cr (+27.0% on the year before). Why profit moved: revenue changed +29.2% on a year earlier and the margin moved −3.0 percentage points. Sales did the work while the margin got thinner. On average over the last four quarters, profit changed +19.1% and revenue +20.8%. Profit and revenue are moving at about the same pace. ## How much revenue does Balu Forge Industries make, and is it growing? Balu Forge Industries Ltd reported ₹301 Cr of revenue in the Jun 2026 quarter, +29.2% on the same quarter a year earlier. The last full year, FY26, came in at ₹1,107 Cr. The last four reported quarters add to ₹1,176 Cr. A growth rate over several years is not shown, because there are too few years of figures to work one out properly. FY26 revenue was ₹1,107 Cr, +19.8% on the year before. Is growth speeding up? Revenue over the last 12 months grew +19.8%, against +37.5% a year over the last 8 quarters (rolling over); profit over the last 12 months grew +18.1%, against +56.1% a year (rolling over). ## How much of every ₹100 of sales does Balu Forge Industries keep? Balu Forge Industries Ltd's operating margin was 28.0% in the Jun 2026 quarter, 3.0 percentage points lower than the same quarter a year ago. Across 11 years it has been between −180.0% and 45.0%. The latest quarter is within that range. Why the margin moved: operating margin changed −2.8 percentage points on the year while gross margin changed −1.9 points. So the drop came mostly from the gross margin, which means input costs and prices charged. ## Is Balu Forge Industries' profit turning into cash? Over the last 3 years, 27% of Balu Forge Industries Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 it brought in ₹32.0 Cr of operating cash against ₹259 Cr of profit. After ₹234 Cr of spending on assets, free cash was −₹202 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 27% of profit came in as cash: the cash cycle got 117 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. When less than 70% of profit comes in as cash, it is the thing to watch on this page. What to look at next: less of the profit turns into cash than it should, and the cash cycle is 117 days longer. The next section looks at where the cash is stuck. ## Where does Balu Forge Industries' cash go? Balu Forge Industries Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 182 days in FY26, up from 65 days in FY21. It spent ₹784 Cr on assets over the last 3 years. Customers take 140 days to pay, and stock sits for 75 days on average. At FY26 sales of ₹1,107 Cr, each day of that cycle ties up about ₹3.0 Cr, so roughly ₹552 Cr is tied up in the business at any time. FY26: customers took 140 days to pay and stock sat for 75 days, about 2.5 months of sales sitting as stock, for a full cycle of 182 days, longer than FY21's 65. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 75 days. Customers pay about 140 days after that. Suppliers are paid at 32 days. Together that makes the 182-day cycle. Spending on assets: ₹784 Cr over the last 3 years, against ₹15.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹277 Cr (FY26): assets paid for that are not earning yet. In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit. ## What is Balu Forge Industries' P/E ratio, and how does it compare with its own history? Balu Forge Industries Ltd's P/E is 22.0×, near the low end of its own history: it has been lower only 24% of the time. Its usual P/E (the middle reading) is 31.9×, over 5 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹22.75. Why the multiple is where it is: over the past year earnings per share moved +14.5% while the price moved −24.6%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved +13.3% a year; about +57.0% a year came from earnings growth and about −43.7 percentage points from the multiple (the market paying less). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Balu Forge Industries business getting better or worse? Balu Forge Industries Ltd's business is slowing from a peak. Revenue, profit and EPS growth have slowed sharply (revenue growth from +70.4% at its peak to +19.8% now), while ROCE is still 24.9%. This is based on 12 quarters of 4 measures. Why it matters: slowing from a peak is where good stories often end quietly. ## How much does Balu Forge Industries earn on its capital? Balu Forge Industries Ltd earned a ROCE of 23% in FY26. That is up from a low of −20% in FY16. Its return on capital used (ROIC) is 3.3 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 23.4% net margin and 0.60× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 23.4% net margin × 0.60× asset turnover × 1.16× leverage (assets divided by equity) ≈ 16.3% on equity. The margin does most of the work; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 15.3% − 12.0% = +3.3 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error. The 15.3% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 18.5%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Balu Forge Industries have too much debt? Balu Forge Industries Ltd has total debt of ₹152 Cr against shareholder equity of ₹1,595 Cr as of Jun 2026, so its debt is 0.10× its equity, which is very little. Year by year, that ratio went from 0.30 in FY22 to 0.10 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Balu Forge Industries shareholding pattern? Foreign institutions cut their stake in Balu Forge Industries Ltd by 5.3 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 5.1% of the company. Promoters moved −0.7 points over the same period, to 54.0%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: −5.3 points over 8 quarters, to 5.1%; Promoters: −0.7 points over 8 quarters, to 54.0%; Domestic institutions: +0.0 points over 8 quarters, to 0.9%. Why the owners changed: foreign institutions drove it (−5.3 points), together with promoters (−0.7 points). They reduced their stake. ## How far is Balu Forge Industries from balance-sheet trouble? For Balu Forge Industries Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Balu Forge Industries rank in its industry? 56.1 out of 100, rank 7 of 20 in Castings, Forgings & Fastners, with 81% of the evidence available. Balu Forge Industries Ltd scores 56.1 out of 100 against the 20 companies it is compared with in Castings, Forgings & Fastners, ranking 7. The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. The four parts add up to the total exactly: 14.5 + 18.3 + 15.3 + 8 = 56.1. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Balu Forge Industries compared with? Balu Forge Industries ranks 7 of 20 Castings, Forgings & Fastners companies on the 4-Factor Sector Score, with 56.1 out of 100. 1. [Kennametal India Ltd](https://www.sectoralpha.in/stocks/kennametal-india-ltd) KENNAMET · leader · Sector-leading setup · 96% evidence 83.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.7/35 · Revenue 29.1% · Profit 91.2% · Operating margin change 12 points · 88% evidence Capital efficiency 21.5/25 · ROCE 33.2% · Operating margin 27% · 100% evidence Valuation 12.4/20 · P/E 41.4× · PEG 1.34 · 100% evidence Relative strength 18.9/20 · Lead over its industry 16% · Lead over NIFTY 500 34.5% · 1 year 76.5% · 100% evidence · 12 of 12 weeks ahead Exact sum: 30.7 + 21.5 + 12.4 + 18.9 = 83.5 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Uniparts India Ltd](https://www.sectoralpha.in/stocks/uniparts-india-ltd) UNIPARTS · losing its lead · Most evidence points up · 96% evidence 76.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.2/35 · Revenue 27.5% · Profit 85.6% · Operating margin change 5 points · 88% evidence Capital efficiency 19.1/25 · ROCE 21.6% · Operating margin 24% · 100% evidence Valuation 16.9/20 · P/E 17.3× · PEG 0.38 · 100% evidence Relative strength 11.3/20 · Lead over its industry 5.1% · Lead over NIFTY 500 22.5% · 1 year 40.7% · 100% evidence · 11 of 12 weeks ahead Exact sum: 29.2 + 19.1 + 16.9 + 11.3 = 76.5 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [Sona BLW Precision Forgings Ltd](https://www.sectoralpha.in/stocks/sona-blw-precision-forgings-ltd) SONACOMS · leader · Most evidence points up · 100% evidence 65.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.7/35 · Revenue 42.1% · Profit 21.8% · Operating margin change -2 points · 100% evidence Capital efficiency 15.8/25 · ROCE 14.2% · Operating margin 23% · 100% evidence Valuation 6.5/20 · P/E 71.7× · PEG 3.52 · 100% evidence Relative strength 19.3/20 · Lead over its industry 29.5% · Lead over NIFTY 500 51.4% · 1 year 88.4% · 100% evidence · 12 of 12 weeks ahead Exact sum: 23.7 + 15.8 + 6.5 + 19.3 = 65.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Gala Precision Engineering Ltd](https://www.sectoralpha.in/stocks/gala-precision-engineering-ltd) GALAPREC · turning · Evidence leans up · 89% evidence 60.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.3/35 · Revenue 31.8% · Profit 37.2% · Operating margin change 1 points · 88% evidence Capital efficiency 13.5/25 · ROCE 15.6% · Operating margin 16.3% · 100% evidence Valuation 12.5/20 · P/E 35× · PEG 1.14 · 65% evidence Relative strength 11.8/20 · Lead over its industry 3.1% · Lead over NIFTY 500 21.3% · 1 year 35.6% · 100% evidence · 6 of 12 weeks ahead Exact sum: 22.3 + 13.5 + 12.5 + 11.8 = 60.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Steelcast Ltd](https://www.sectoralpha.in/stocks/steelcast-ltd) STEELCAS · leader · Evidence leans up · 96% evidence 59.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.8/35 · Revenue 9.2% · Profit 15.2% · Operating margin change 0 points · 88% evidence Capital efficiency 19.3/25 · ROCE 32.3% · Operating margin 26% · 100% evidence Valuation 8.0/20 · P/E 38.8× · PEG 1.7 · 100% evidence Relative strength 17.4/20 · Lead over its industry 12.9% · Lead over NIFTY 500 32.1% · 1 year 53.8% · 100% evidence · 12 of 12 weeks ahead Exact sum: 14.8 + 19.3 + 8 + 17.4 = 59.5 · What this means: Relative strength against the index is 32.1%, and revenue and profit growth are weak. 6. [Amic Forging Ltd](https://www.sectoralpha.in/stocks/amic-forging-ltd) leader · Too little evidence to rank firmly · 53% evidence 59.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.7/35 · Revenue n/a · Profit n/a · Operating margin change 5 points · 15% evidence Capital efficiency 17.1/25 · ROCE 25.2% · Operating margin 33% · 71% evidence Valuation 6.8/20 · P/E 77.5× · PEG n/a · 50% evidence Relative strength 17.4/20 · Lead over its industry 8.4% · Lead over NIFTY 500 27.2% · 1 year 34.6% · 100% evidence · 11 of 12 weeks ahead Exact sum: 17.7 + 17.1 + 6.8 + 17.4 = 59 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 7. Balu Forge Industries Ltd this page BALUFORGE · breaking out · Evidence leans up · 81% evidence 56.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.5/35 · Revenue 19.8% · Profit 18.1% · Operating margin change -3 points · 88% evidence Capital efficiency 18.3/25 · ROCE 22.7% · Operating margin 28% · 100% evidence Valuation 15.3/20 · P/E 20× · PEG 1.16 · 100% evidence Relative strength 8.0/20 · Lead over its industry n/a · Lead over NIFTY 500 -7.2% · 1 year -31.4% · 25% evidence · 11 of 12 weeks ahead Exact sum: 14.5 + 18.3 + 15.3 + 8 = 56.1 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 8. [Happy Forgings Ltd](https://www.sectoralpha.in/stocks/happy-forgings-ltd) HAPPYFORGE · leader · Evidence leans up · 96% evidence 55.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.8/35 · Revenue 15.5% · Profit 21.1% · Operating margin change 2 points · 88% evidence Capital efficiency 17.7/25 · ROCE 18% · Operating margin 31% · 100% evidence Valuation 2.8/20 · P/E 50.4× · PEG 3.72 · 100% evidence Relative strength 12.5/20 · Lead over its industry 7.7% · Lead over NIFTY 500 25.2% · 1 year 71.2% · 100% evidence · 12 of 12 weeks ahead Exact sum: 22.8 + 17.7 + 2.8 + 12.5 = 55.8 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 9. [Uni Abex Alloy Products Ltd](https://www.sectoralpha.in/stocks/uni-abex-alloy-products-ltd) quiet · Evidence leans up · 83% evidence 50.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.3/35 · Revenue 17.2% · Profit 100% · Operating margin change -7 points · 83% evidence Capital efficiency 15.6/25 · ROCE 18.8% · Operating margin 10.5% · 95% evidence Valuation 10.0/20 · P/E 18.2× · PEG n/a · 50% evidence Relative strength 8.6/20 · Lead over its industry 0.2% · Lead over NIFTY 500 17.5% · 1 year 30.6% · 100% evidence · 5 of 12 weeks ahead Exact sum: 16.3 + 15.6 + 10 + 8.6 = 50.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [CIE Automotive India Ltd](https://www.sectoralpha.in/stocks/cie-automotive-india-ltd) CIEINDIA · basing · Evidence leans down · 100% evidence 49.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.6/35 · Revenue 12.4% · Profit 15.3% · Operating margin change -1 points · 100% evidence Capital efficiency 13.9/25 · ROCE 14.7% · Operating margin 14% · 100% evidence Valuation 16.7/20 · P/E 14.4× · PEG 1.14 · 100% evidence Relative strength 2.4/20 · Lead over its industry -28.5% · Lead over NIFTY 500 -13.5% · 1 year -18.4% · 100% evidence · 0 of 12 weeks ahead Exact sum: 16.6 + 13.9 + 16.7 + 2.4 = 49.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Ramkrishna Forgings Ltd](https://www.sectoralpha.in/stocks/ramkrishna-forgings-ltd) RKFORGE · leader · Evidence leans down · 67% evidence 48.4 out of 100 Growth Capital Valuation Relative
12. [Nelcast Ltd](https://www.sectoralpha.in/stocks/nelcast-ltd) NELCAST · turning · Evidence leans down · 96% evidence 47.7 out of 100 Growth Capital Valuation Relative
13. [Alicon Castalloy Ltd](https://www.sectoralpha.in/stocks/alicon-castalloy-ltd) ALICON · breaking out · Evidence leans down · 81% evidence 43.6 out of 100 Growth Capital Valuation Relative
14. [M M Forgings Ltd](https://www.sectoralpha.in/stocks/m-m-forgings-ltd) MMFL · losing its lead · Evidence leans down · 96% evidence 41.7 out of 100 Growth Capital Valuation Relative
15. [Tirupati Forge Ltd](https://www.sectoralpha.in/stocks/tirupati-forge-ltd) TIRUPATIFL · turning · Evidence leans down · 96% evidence 40.6 out of 100 Growth Capital Valuation Relative
16. [Bharat Forge Ltd](https://www.sectoralpha.in/stocks/bharat-forge-ltd) BHARATFORG · quiet · Evidence leans down · 71% evidence 37.4 out of 100 Growth Capital Valuation Relative
17. [Sundaram Clayton Ltd](https://www.sectoralpha.in/stocks/sundaram-clayton-ltd) SUNCLAY · quiet · Most evidence points down · 71% evidence 30.1 out of 100 Growth Capital Valuation Relative
18. [Sterling Tools Ltd](https://www.sectoralpha.in/stocks/sterling-tools-ltd) STERTOOLS · quiet · Most evidence points down · 100% evidence 25.4 out of 100 Growth Capital Valuation Relative
19. [Synergy Green Industries Ltd](https://www.sectoralpha.in/stocks/synergy-green-industries-ltd) SGIL · losing its lead · Most evidence points down · 76% evidence 24.4 out of 100 Growth Capital Valuation Relative
20. [Captain Technocast Ltd](https://www.sectoralpha.in/stocks/captain-technocast-ltd) quiet · Too little evidence to rank firmly · 42% evidence 55.9 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Castings, Forgings & Fastners](https://www.sectoralpha.in/sectors/castings-forgings-fastners), all 20 compared on one page. ## Which companies are close to Balu Forge Industries in size? Balu Forge Industries is the 7th largest of 20 Castings, Forgings & Fastners companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: CIE Automotive India, Ramkrishna Forgings and Kennametal India. Just below it: Steelcast, Uniparts India and Amic Forging. ### Castings, Forgings & Fastners companies close in size

1. [CIE Automotive India Ltd](https://www.sectoralpha.in/stocks/cie-automotive-india-ltd) ₹13,384 crore
2. [Ramkrishna Forgings Ltd](https://www.sectoralpha.in/stocks/ramkrishna-forgings-ltd) ₹12,005 crore
3. [Kennametal India Ltd](https://www.sectoralpha.in/stocks/kennametal-india-ltd) ₹8,105 crore
4. Balu Forge Industries Ltd ₹5,371 crore
5. [Steelcast Ltd](https://www.sectoralpha.in/stocks/steelcast-ltd) ₹3,522 crore
6. [Uniparts India Ltd](https://www.sectoralpha.in/stocks/uniparts-india-ltd) ₹3,167 crore
7. [Amic Forging Ltd](https://www.sectoralpha.in/stocks/amic-forging-ltd) ₹2,361 crore

[All 20 Castings, Forgings & Fastners companies, largest first](https://www.sectoralpha.in/sectors/castings-forgings-fastners#all-companies)

### Companies close in size in other industries

1. [West Coast Paper Mills Ltd](https://www.sectoralpha.in/stocks/west-coast-paper-mills-ltd) ₹5,386 crore · Paper
2. [V2 Retail Ltd](https://www.sectoralpha.in/stocks/v2-retail-ltd) ₹5,377 crore · Textiles - Readymade Apparel
3. Balu Forge Industries Ltd ₹5,371 crore
4. [L G Balakrishnan & Bros Ltd](https://www.sectoralpha.in/stocks/l-g-balakrishnan-bros-ltd) ₹5,336 crore · Auto Ancillaries - 2 Wheelers
5. [Gujarat State Fertilizers & Chemicals Ltd](https://www.sectoralpha.in/stocks/gujarat-state-fertilizers-chemicals-ltd) ₹5,311 crore · Fertilisers

## What else do people ask about Balu Forge Industries? ### What is Balu Forge Industries's share price today? Balu Forge Industries Ltd's share price is ₹486.70, −24.6% over the past year. The whole company is worth ₹5,914 Cr on the market. In the last 52 weeks it traded between ₹380 to ₹639; today it is 41% of the way up from the low, 3.3% below its 200-day average (as of 3 November 2026). ### What were Balu Forge Industries's latest quarterly results? Balu Forge Industries Ltd reported revenue of ₹301 Cr and net profit of ₹66.0 Cr for the Jun 2026 quarter. Revenue rose 29.2% and profit rose 15.8% compared with a year earlier. Earnings per share were ₹5.44. The operating margin was 28.0%, 3.0 percentage points lower than a year earlier (as of 3 November 2026). ### What is Balu Forge Industries's market cap? Balu Forge Industries Ltd's market capitalisation is ₹5,914 Cr at a share price of ₹486.70. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Balu Forge Industries performing? Balu Forge Industries Ltd's share price has been stalling near its high for 6 weeks. In its latest quarter, revenue rose 29.2% and profit rose 15.8% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 13 weeks running (as of 3 November 2026). ### Will Balu Forge Industries's share price go up? This page does not forecast Balu Forge Industries Ltd's share price. What it shows instead: the share price is ₹486.70, and it has been stalling near its high for 6 weeks. Its P/E of 22.0× is higher than 24% of its own last 5 years (as of 3 November 2026). ### Who owns Balu Forge Industries? Promoters own 54.0% of Balu Forge Industries Ltd, foreign institutions 5.1%, domestic institutions 0.9% and the public 36.2% (latest quarter). The biggest change over the last two years: Foreign institutions cut their stake by 5.3 percentage points over 8 quarters (as of 3 November 2026). ### Does Balu Forge Industries have too much debt? No, Balu Forge Industries Ltd has little debt: its debt is 0.10× its equity, and its operating profit is 19 times its interest bill. FY26 borrowings were ₹152 Cr against equity of ₹1,594 Cr. So the returns on this page come from the business, not borrowed money (as of 3 November 2026). ### Where is Balu Forge Industries in its business cycle? Balu Forge Industries Ltd's FY26 operating margin was 27.0%, against a 11-year range of −180.0% to 45.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 28.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Balu Forge Industries story? The main question: profits are rising, but only 27% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Balu Forge Industries a stock worth studying right now? What the numbers show: Balu Forge Industries Ltd's earnings have grown faster than its share price. Earnings per share grew +14.5% in a year while the price moved −24.6%. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). This is research, not advice. We’re not SEBI-registered.