Munish Forge Peer Comparison

NSE: MUNISH

₹87.45

₹5.95 (7.30%)

As on 28-Aug-2026IST

Market cap

₹210 Cr

Revenue (TTM)

₹175 Cr

P/E Ratio

20.9

P/B Ratio

1.7

Div. Yield

0 %

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	Munish Forge	Happy Forgings	Balu Forge	Amic Forging	Investment & Prec
Market cap (₹ Cr)	210	21,758	7,761	2,237	1,288
Revenue (₹ Cr)	175	1,642	1,175	121	197
Net Profit (₹ Cr)	14.30	327.40	267.96	35.56	14.58
Net Margin (%)	8.00	19.56	22.15	25.04	7.36
RoE (%)	21.24	16.02	18.85	43.20	15.04
Price to Earnings	20.91	66.46	28.96	79.11	88.35
Price-To-Book	1.66	9.83	4.67	9.28	11.97

Income Statement
Liabilities
Assets
Cashflow
Ratios

Income Statement (₹ Cr)

	Munish Forge	Happy Forgings	Balu Forge	Amic Forging	Investment & Prec
Operating Revenue	175.45	1,408.89	923.62	121.32	165.07
Total Income	178.63	1,446.34	945.56	142.02	165.81
Total Expenditure	151.08	1,002.20	677.31	93.32	142.46
EBITDA	24.36	406.70	246.31	28.00	22.62
Depreciation	3.38	77.06	3.35	2.87	8.13
EBIT	20.98	329.64	242.96	25.13	14.49
Interest	4.84	7.53	10.96	0.41	6.85
Other Income	3.19	37.45	21.94	20.71	0.74
Exceptional Items	--	--	--	--	--
Profit before Tax	19.33	359.55	253.94	45.43	8.38
Provision for Tax	5.03	92.12	50.09	9.87	2.32
Profit after Tax	14.30	267.44	203.86	35.56	6.06

Liabilities (₹ Cr)

	Munish Forge	Happy Forgings	Balu Forge	Amic Forging	Investment & Prec
Shareholder's Funds	67.40	1,849.55	1,053.22	124.40	91.27
Minority Interest	--	--	--	--	--
Non-Current Liabilities	13.40	39.33	15.56	0.72	13.85
Current Liabilities	80.73	326.35	181.73	27.57	89.58
Total Liabilities	161.54	2,215.22	1,252.19	152.68	194.70

Assets (₹ Cr)

	Munish Forge	Happy Forgings	Balu Forge	Amic Forging	Investment & Prec
Non-Current Assets	54.21	1,296.59	682.82	79.92	94.53
Current Assets	107.26	918.64	567.68	72.65	100.17
Total Assets	161.54	2,215.22	1,252.19	152.68	194.70
Total Debt*	60.20	227.99	35.91	0.00	64.50
Net Current Assets	26.53	592.29	385.95	45.08	10.59
Contingent Liabilities	5.40	23.84	--	--	0.32

Cashflow (₹ Cr)

	Munish Forge	Happy Forgings	Balu Forge	Amic Forging	Investment & Prec
Cash From Operating Activities	5.52	292.33	148.24	6.02	18.99
Cash Flow from Investing Activities	-10.49	-320.20	-416.63	-18.51	-4.01
Cash from Financing Activities	7.99	40.17	273.52	19.95	-16.18
Net Cash Inflow / Outflow	3.03	12.30	5.14	7.45	-1.20

Ratios

Profitability Ratios

	Munish Forge	Happy Forgings	Balu Forge	Amic Forging	Investment & Prec
ROCE (%)	18.95	19.15	31.33	47.57	9.65
ROE (%)	21.24	15.52	27.30	43.20	6.85
ROA (%)	8.85	13.04	20.81	29.05	3.06
EBIT Margin (%)	15.70	31.52	29.04	40.15	14.15
Net Margin (%)	8.00	18.49	21.56	25.04	3.65
Cash Profit Margin (%)	10.08	24.30	22.43	31.68	8.59

Growth Ratios

	Munish Forge	Happy Forgings	Balu Forge	Amic Forging	Investment & Prec
Revenue Growth (%)	0.00	3.73	64.97	-3.83	-3.44
EBIT Growth (%)	--	10.79	107.37	145.31	-12.16
Net Profit Growth (%)	0.00	10.06	118.04	156.74	-22.25
EPS Growth (%)	0.00	10.02	101.95	157.04	-22.25
Book Value Growth (%)	0.00	14.49	81.78	55.00	6.54

Valuation Ratios

	Munish Forge	Happy Forgings	Balu Forge	Amic Forging	Investment & Prec
Price / Earnings	0.00	27.69	34.68	31.87	28.95
Price / Book Value	0.00	4.02	7.34	11.32	3.84
Dividend Yield (%)	--	0.38	0.02	0.00	0.07
EV/EBITDA	2.60	16.88	26.13	22.86	17.71
Market Cap (₹ Cr)	0.00	7,404.16	7,069.74	1,133.16	350.70

Solvency Ratios

	Munish Forge	Happy Forgings	Balu Forge	Amic Forging	Investment & Prec
Debt to Equity	0.89	0.12	0.04	0.00	0.71
Short term debt to equity ratio	0.67	0.12	0.01	--	0.57
Current Ratio	1.33	2.81	3.12	2.64	1.12
Quick Ratio	0.58	2.10	2.58	2.05	0.57
Interest Coverage	4.99	48.73	24.18	111.61	2.22

Operating Efficiency Ratios

	Munish Forge	Happy Forgings	Balu Forge	Amic Forging	Investment & Prec
Debtors to sales (%)	14.45	30.27	35.43	22.62	25.19
Asset Turnover	1.09	0.69	0.94	0.99	0.83
Receivable days	52.74	100.84	107.84	85.14	86.24
Inventory Days	125.36	58.77	37.06	24.69	107.02
Payable days	49.76	31.12	60.14	75.50	193.19
Cash Conversion Cycle	128.34	128.48	84.76	34.33	0.08