Ganga Forging Ltd

Ganga Forging Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Ganga Forging Ltd

₹ 2.36 0.85%
29 May - close price
gangaforging.com NSE: GANGAFORGE
About

Incorporated in 1988, Ganga Forging Ltd is engaged in the business of production, sale, and job work of forging items.[1]

Key Points

Business Overview:[1]
GFL is an ISO 9001:2015 manufacturing, forging, and machining components as
per customers’ specifications for industrial use, including Original Equipment Manufacturer customers and parts manufacturing units. The company also exports forged components in raw, semi-finished, or finished stages, depending upon the requirements of its buyers.

Website NSE
  • Market Cap ₹ 31.8 Cr.
  • Current Price ₹ 2.36
  • High / Low ₹ 4.54 / 2.25
  • Stock P/E
  • Book Value ₹ 2.11
  • Dividend Yield 0.00 %
  • ROCE -6.43 %
  • ROE -13.2 %
  • Face Value ₹ 1.00
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Pros

  • Stock is trading at 1.12 times its book value
  • Company's working capital requirements have reduced from 113 days to 82.3 days

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 9.16% over past five years.
  • Promoter holding is low: 35.5%
  • Company has a low return on equity of -3.87% over last 3 years.
  • Company might be capitalizing the interest cost
  • Promoter holding has decreased over last 3 years: -24.0%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Industrials Capital Goods Industrial Products Castings & Forgings

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Quarterly Results

Figures in Rs. Crores

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
8.44 9.86 8.57 8.55 10.24 8.51 11.51 11.67 11.53 7.75 8.27 8.88 10.73
7.75 9.34 8.03 7.91 9.44 7.92 10.92 11.18 10.95 7.81 10.61 8.48 10.83
Operating Profit 0.69 0.52 0.54 0.64 0.80 0.59 0.59 0.49 0.58 -0.06 -2.34 0.40 -0.10
OPM % 8.18% 5.27% 6.30% 7.49% 7.81% 6.93% 5.13% 4.20% 5.03% -0.77% -28.30% 4.50% -0.93%
0.35 0.00 0.03 0.01 0.07 0.19 0.15 0.31 -0.01 0.37 0.01 0.12 0.04
Interest 0.26 0.16 0.18 0.22 0.29 0.29 0.23 0.22 0.22 0.23 0.23 0.19 0.28
Depreciation 0.21 0.22 0.22 0.22 0.34 0.25 0.27 0.27 0.29 0.27 0.28 0.28 0.35
Profit before tax 0.57 0.14 0.17 0.21 0.24 0.24 0.24 0.31 0.06 -0.19 -2.84 0.05 -0.69
Tax % -142.11% 14.29% -29.41% -9.52% 108.33% -20.83% -12.50% 12.90% 366.67% 47.37% 3.52% 20.00% -33.33%
1.37 0.12 0.22 0.23 -0.02 0.29 0.28 0.27 -0.15 -0.29 -2.94 0.04 -0.46
EPS in Rs 0.13 0.01 0.02 0.02 -0.00 0.02 0.02 0.02 -0.01 -0.02 -0.22 0.00 -0.03
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
8.98 17.36 24.87 27.88 23.64 22.98 28.83 33.41 37.21 43.22 35.62
8.15 16.22 22.90 25.53 24.39 21.28 26.28 31.41 34.71 40.96 37.73
Operating Profit 0.83 1.14 1.97 2.35 -0.75 1.70 2.55 2.00 2.50 2.26 -2.11
OPM % 9.24% 6.57% 7.92% 8.43% -3.17% 7.40% 8.84% 5.99% 6.72% 5.23% -5.92%
0.01 0.02 0.03 0.17 0.10 0.10 1.26 0.57 0.10 0.64 0.54
Interest 0.33 0.46 0.79 1.12 1.27 0.79 0.95 0.81 0.85 0.96 0.93
Depreciation 0.30 0.41 0.50 0.74 0.88 0.87 0.88 0.88 1.00 1.07 1.19
Profit before tax 0.21 0.29 0.71 0.66 -2.80 0.14 1.98 0.88 0.75 0.87 -3.69
Tax % 42.86% 72.41% 35.21% 21.21% -24.64% -85.71% 47.47% -88.64% 41.33% 28.74% -0.81%
0.11 0.09 0.46 0.52 -2.12 0.25 1.03 1.66 0.44 0.61 -3.65
EPS in Rs 2.20 1.80 0.06 0.05 -0.20 0.02 0.10 0.16 0.03 0.05 -0.27
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years: %
5 Years: 9%
3 Years: 2%
TTM: -18%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -1356%
Stock Price CAGR
10 Years: %
5 Years: -21%
3 Years: -15%
1 Year: -46%
Return on Equity
10 Years: %
5 Years: -1%
3 Years: -4%
Last Year: -13%

Balance Sheet

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 0.35 0.35 5.57 7.95 7.95 10.60 10.60 10.60 13.42 13.48 13.48
Reserves 0.87 0.96 3.02 6.17 4.05 0.12 1.05 2.74 17.99 18.71 15.02
4.37 2.84 7.83 12.67 11.57 10.54 11.67 14.30 9.98 16.58 20.11
2.70 5.42 8.75 8.47 9.48 9.69 7.73 7.08 4.92 9.92 11.88
Total Liabilities 8.29 9.57 25.17 35.26 33.05 30.95 31.05 34.72 46.31 58.69 60.49
1.95 1.89 9.34 15.68 15.05 14.55 13.90 15.55 16.48 17.79 20.40
CWIP 0.00 0.00 0.00 0.00 0.36 0.00 2.21 0.75 0.00 0.39 0.02
Investments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
6.34 7.68 15.83 19.58 17.64 16.40 14.94 18.42 29.83 40.51 40.07
Total Assets 8.29 9.57 25.17 35.26 33.05 30.95 31.05 34.72 46.31 58.69 60.49

Cash Flows

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
0.00 0.00 -1.83 2.35 1.98 1.33 -1.09 -10.64 -4.11
0.00 0.00 -6.91 -0.60 -0.03 -1.69 -0.56 -1.16 -2.21
0.00 0.00 8.81 -1.76 -1.83 0.19 1.81 12.47 5.79
Net Cash Flow 0.00 0.00 0.07 -0.02 0.12 -0.17 0.17 0.68 -0.53
Free Cash Flow 0.00 0.00 -8.74 1.75 1.67 -0.37 -1.65 -11.81 -6.34
CFO/OP 0% 0% -69% -313% 124% 52% -51% -426% -182%

Ratios

Figures in Rs. Crores

Mar 2011 Mar 2012 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 144.29 97.14 119.32 119.79 135.56 114.84 61.02 62.38 83.08 67.65 58.31
Inventory Days 155.46 87.56 132.52 204.65 181.30 182.42 244.86 244.26 266.95
Days Payable 151.16 159.41 162.53 183.92 82.43 75.71 29.39 80.58 116.32
Cash Conversion Cycle 148.59 25.29 89.31 119.79 135.56 135.56 159.89 169.09 298.55 231.33 208.94
Working Capital Days 56.50 0.84 -0.59 38.23 -5.40 12.39 29.88 25.78 161.85 95.94 82.28
ROCE % 15.40% 7.50% -6.08% 4.33% 9.78% 4.67% 4.61% 3.13% -6.43%

Insights

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Number of Permanent Employees
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Actual Production / Utilization
MTPA
Captive Solar Power Project Capacity
MW
Upcoming Capacity: Elastic Rail Clips
Lakh/Month

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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
59.53% 59.35% 43.52% 40.82% 40.63% 40.11% 39.21% 39.21% 39.21% 39.00% 35.51% 35.51%
0.00% 0.00% 0.00% 0.04% 0.00% 0.00% 3.71% 3.71% 2.60% 2.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
40.47% 40.65% 56.48% 59.14% 59.26% 59.89% 57.08% 57.08% 58.19% 59.00% 64.49% 64.49%
No. of Shareholders 29,38126,69634,38447,33546,32846,60047,98348,53248,96349,23749,81548,870

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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