M M Forgings Ltd (MMFL) — shareholding pattern, promoter holding, financials and share price
About M M Forgings Ltd (MMFL)
M M Forgings Ltd operates in the Auto Components & Equipments industry, within the Automobile and Auto Components sector. It trades on the NSE as MMFL and on the BSE under scrip code 522241. Its ISIN is INE227C01017.
M M Forgings Limited is engaged in the business of manufacturing Steel Forgings in raw, semi-machined and fully machined stages in various grades of Carbon, Alloy, Micro-Alloy and Stainless Steels. [1]
MM Forgings Limited manufactures carbon and alloy steel forgings and machined components for automotive, agri, off‑highway, and industrial customers, operating multiple forging plants in Tamil Nadu and a machining facility in Uttar Pradesh. The company supplies Tier‑1 OEMs domestically and to export markets, with a product mix shifting toward higher‑value forged‑and‑machined parts for CV and PV programs.
Financially, YTD Dec FY’26 revenue was broadly flat at about ₹1,132 crore standalone, but EBITDA and PAT contracted materially; standalone EBITDA fell to ₹218.7 crore and PAT to ₹65.8 crore. Consolidated performance mirrors the trend with EBITDA ₹214.1 crore and PAT ₹53.3 crore, while finance costs and depreciation have risen, compressing profitability despite modest sales growth.
Listed peers in Auto Components & Equipments: Divgi Torqtransfer Systems Ltd, Automotive Axles Ltd, India Nippon Electricals Ltd, Federal-Mogul Goetze (India) Ltd, Talbros Automotive Components Ltd, Rajratan Global Wire Ltd.
Valuation & Returns
10 Jul 2026At ₹520 a share on 10 Jul 2026, M M Forgings Ltd (MMFL) was valued at a price-to-earnings ratio of 25.59x against an industry P/E of 37.75x and a price-to-book of 2.82x on a book value of ₹184.6 per share as of Mar 2025. Solomo computes return on equity of 11.01% and return on capital employed of 9.27% from filed results. Earnings ratios use consolidated results for the twelve months Jun 2025 to Mar 2026.
- P/E
- 25.59x
- Industry P/E
- 37.75x
- P/B
- 2.82x
- EPS (TTM)
- ₹20.32
- Book value / share
- ₹184.6
- ROE
- 11.01%
- ROCE
- 9.27%
- ROA
- 4.18%
- Debt / equity
- 1.33x
- Dividend yield
- 1.54%
- EBITDA margin
- 18.79%
- 52-week range
- ₹276.05 – ₹526
Ratios are computed from filed results and the last recorded price. Not investment advice.
Financial Performance
Mar 2026In the year ended Mar 2026, M M Forgings Ltd (MMFL) reported revenue of ₹1,590 crore, net profit of ₹99 crore and earnings per share of ₹20.44. That compares with revenue of ₹1,525 crore and net profit of ₹122 crore in Mar 2025. Figures are consolidated, as filed with the exchanges.
In the quarter ended Mar 2026, revenue was ₹430 crore and net profit ₹45 crore (consolidated).
| Metric | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue (₹ cr) | 1,140 | 1,462 | 1,563 | 1,525 | 1,590 |
| Net profit (₹ cr) | 91 | 128 | 135 | 122 | 99 |
| EPS (₹) | 18.84 | 26.49 | 27.96 | 25.24 | 20.44 |
| Measure | 10Y | 5Y | 3Y | 1Y |
|---|---|---|---|---|
| Sales growth | 12.73% | 15.22% | 10.17% | -2.42% |
| Profit growth | 11.77% | 24.14% | 14.10% | -9.76% |
| Stock price CAGR | 18% | 7% | 4% | 40% |
Ownership Summary
Jun 2026As of Jun 2026, promoters hold 56.34% of M M Forgings Ltd (MMFL) (unchanged from the previous quarter), foreign institutional investors (FII) hold 2.44% and domestic institutional investors (DII) hold 7.49%. Market capitalisation was ₹2,511 crore on 10 Jul 2026. Shareholding is filed quarterly with BSE and NSE; Solomo carries every filing back to Mar 2001.
Largest disclosed public shareholders in Jun 2026: HDFC MUTUAL FUND 3.74%, TATA MUTUAL FUND 3.26%, SRINIVASAN V 1.75%, SANDHYA G PARIKH 1.38%, CHINMAY G PARIKH 1.37%, LLP 1.15%. Only stakes above the 1% disclosure threshold are named in filings.
| Quarter | Promoter | Pledged | FII | DII | Public |
|---|---|---|---|---|---|
| Jun 2026 | 56.34% | - | 2.44% | 7.49% | 43.66% |
| Mar 2026 | 56.34% | - | 1.86% | 8.37% | 43.66% |
| Dec 2025 | 56.34% | - | 1.74% | 8.55% | 43.66% |
| Sep 2025 | 56.34% | - | 1.76% | 8.31% | 43.66% |
| Jun 2025 | 56.34% | - | 1.8% | 8.33% | 43.66% |
| Mar 2025 | 56.34% | - | 3.09% | 8.92% | 43.66% |
| Dec 2024 | 56.34% | - | 3.75% | 9.85% | 43.66% |
| Sep 2024 | 56.34% | - | 3.41% | 10.5% | 43.66% |