{"id":181145,"date":"2026-02-17T01:50:31","date_gmt":"2026-02-17T06:50:31","guid":{"rendered":"https:\/\/alphastreet.com\/india\/?p=181145"},"modified":"2026-02-17T01:50:31","modified_gmt":"2026-02-17T06:50:31","slug":"m-m-forgings-limited-posts-stable-9m-fy26-results-despite-global-trade-headwinds","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/m-m-forgings-limited-posts-stable-9m-fy26-results-despite-global-trade-headwinds\/","title":{"rendered":"M M Forgings Limited Posts Stable 9M FY\u201926 Results Despite Global Trade Headwinds"},"content":{"rendered":"\n<p>M M Forgings Limited (NSE: MMFL\/BSE: 522241), a leading Indian manufacturer of forged and machined components, reported a steady financial performance for the nine-month period (9M) ended December 31, 2025, navigating a volatile global economic landscape marked by geopolitical shifts and trade uncertainties.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Standalone Financial Metrics (YTD Dec FY\u201926)<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Revenue from Operations: \u20b91,131.83 crore<\/li>\n\n\n\n<li>EBITDA: \u20b9218.69 crore<\/li>\n\n\n\n<li>Profit Before Tax (PBT): \u20b991.30 crore<\/li>\n\n\n\n<li>Profit After Tax (PAT): \u20b965.80 crore<\/li>\n\n\n\n<li>Earnings Per Share (EPS): \u20b913.63<\/li>\n\n\n\n<li>Total Income: \u20b91,153.19 crore<\/li>\n\n\n\n<li>Operating Expenses: \u20b9934.50 crore<\/li>\n\n\n\n<li>Domestic Sales: \u20b9693.44 crore<\/li>\n\n\n\n<li>Export Sales: \u20b9422.45 crore<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Consolidated Financial Metrics (YTD Dec FY\u201926)<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Revenue from Operations: \u20b91,160.22 crore<\/li>\n\n\n\n<li>EBITDA: \u20b9214.12 crore<\/li>\n\n\n\n<li>Profit Before Tax (PBT): \u20b978.83 crore<\/li>\n\n\n\n<li>Profit After Tax (PAT): \u20b953.33 crore<\/li>\n\n\n\n<li>Earnings Per Share (EPS): \u20b911.05<\/li>\n\n\n\n<li>Total Income: \u20b91,175.16 crore<\/li>\n\n\n\n<li>Operating Expenses: \u20b9961.04 crore<\/li>\n<\/ul>\n\n\n\n<p>On a consolidated basis, which includes the performance of subsidiaries such as DVS Industries, Suvarchas Vidyut, and Abhinava Rizel, 9M revenue reached \u20b91,160.22 crore with an EBITDA of \u20b9214.12 crore.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/Untitled-design-3-1024x576.png\" alt=\"\" class=\"wp-image-181148\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/Untitled-design-3-1024x576.png 1024w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/Untitled-design-3-300x169.png 300w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/Untitled-design-3-768x432.png 768w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/Untitled-design-3-1536x864.png 1536w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/Untitled-design-3.png 1920w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key Operational-Financial Metrics<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Sales per ton:<\/strong> \u20b91.93 lakhs (increased from \u20b91.80 lakhs in FY25)<\/li>\n\n\n\n<li><strong>Product Mix (by Sales):<\/strong> 53% Forged &amp; Machined components and 47% Forged components<\/li>\n\n\n\n<li><strong>Geographic Revenue Split:<\/strong> India accounts for 62.1% of overall sales, followed by Europe at 21.6% and the US at 10.6%.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/Untitled-design-4-1024x576.png\" alt=\"\" class=\"wp-image-181150\" srcset=\"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/Untitled-design-4-1024x576.png 1024w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/Untitled-design-4-300x169.png 300w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/Untitled-design-4-768x432.png 768w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/Untitled-design-4-1536x864.png 1536w, https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2026\/02\/Untitled-design-4.png 1920w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Business Model<\/strong><\/h2>\n\n\n\n<p>MMFL manufactures forged and machined components, primarily for the commercial vehicle segment (75.5% of revenue). Its business model emphasizes value-addition, with machined products comprising 53% of sales. MMFL operates globally across India, Europe, and the US, adhering to strict IATF and ISO standards.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Operational Highlights &amp; Business Mix<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The company showed significant progress in its product value, with sales per ton increasing to \u20b91.93 lakhs, compared to \u20b91.80 lakhs in FY25 .<\/li>\n\n\n\n<li>MMFL\u2019s business mix continues to shift toward higher-value offerings; forged and machined components now account for 53% of sales, while pure forged products make up the remaining 47%.<\/li>\n\n\n\n<li>Domestic sales emerged as a point of strength, growing to \u20b9693.44 crore in the 9M period. Conversely, export activity remained measured, totaling \u20b9422.45 crore, as global markets reacted to macroeconomic headwinds.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Geographic Presence &amp; Target Segments<\/strong><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>India remains the cornerstone of MMFL\u2019s operations, contributing 62.1% of overall revenue.<\/li>\n\n\n\n<li>International presence is led by Europe (21.6%), followed by the United States (10.6%) and South America (4.2%).<\/li>\n\n\n\n<li>The company is heavily geared toward the Commercial Vehicle segment, which generates 75.5% of its overall revenue.<\/li>\n\n\n\n<li>Other key target segments include:<ul><li>Agri and Off-Highway: 14.9%<\/li><\/ul><ul><li>Passenger Vehicles: 8.2%<\/li><\/ul>\n<ul class=\"wp-block-list\">\n<li>Others: 1.4%<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Management Commentary &amp; Guidance<\/strong><\/h2>\n\n\n\n<p>Chairman and Managing Director Shri. Vidyashankar Krishnan noted that the Indian automotive industry, particularly exports, has operated under global moderation. Also specifically cited &#8220;tariff-related uncertainties, notably involving the United States&#8221; as a factor in measured export activity during Q3. Despite these challenges, Krishnan expressed confidence in the company\u2019s &#8220;robust balance sheet&#8221; and &#8220;disciplined cost management&#8221;.&nbsp;<\/p>\n\n\n\n<p>Management guidance suggests the company is well-positioned to capitalize on emerging structural improvements in the industry and deliver sustainable value.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Key Takeaway<\/strong> <\/h2>\n\n\n\n<p>While global trade tensions have tempered export growth, M M Forgings\u2019 strong domestic performance and successful transition toward machined components have preserved its margins. The company remains a dominant player in the commercial vehicle forging space, supported by high operational resilience and a strategic long-term outlook.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>M M Forgings Limited (NSE: MMFL\/BSE: 522241), a leading Indian manufacturer of forged and machined components, reported a steady financial performance for the nine-month period (9M) ended December 31, 2025, navigating a volatile global economic landscape marked by geopolitical shifts and trade uncertainties. Standalone Financial Metrics (YTD Dec FY\u201926) Consolidated Financial Metrics (YTD Dec FY\u201926) [&hellip;]<\/p>\n","protected":false},"author":2378,"featured_media":125269,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5,1941,392,5753],"tags":[2132,13711],"class_list":["post-181145","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-stock-analysis","category-earnings","category-industrials","tag-manufacturing","tag-steel-forgings"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":177846,"url":"https:\/\/alphastreet.com\/india\/ramkrishna-forgings-ltd-reports-5-5-revenue-increase-in-q3-fy25-amid-export-growth\/","url_meta":{"origin":181145,"position":0},"title":"Ramkrishna Forgings Ltd Reports 5.5% Revenue Increase in Q3 FY25 Amid Export Growth","author":"Staff Correspondent","date":"January 27, 2026","format":false,"excerpt":"Ramkrishna Forgings Ltd (NSE: RKFORGE) announced unaudited standalone financial results for Q3 and 9M FY25 ended December 31, 2024. Revenues rose 5.5% YoY in Q3 to \u20b9953 crore, with PAT up 21.0% YoY to \u20b9100 crore. Lead Summary Standalone Q3 FY25 revenue increased 5.5% YoY to \u20b9953 crore from \u20b9903\u2026","rel":"","context":"In &quot;Analysis&quot;","block_context":{"text":"Analysis","link":"https:\/\/alphastreet.com\/india\/category\/stock-analysis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":162190,"url":"https:\/\/alphastreet.com\/india\/m-m-forgings-ltd-q4fy24-36-rise-in-profits\/","url_meta":{"origin":181145,"position":1},"title":"M M Forgings Ltd Q4FY24; 36% rise in Profits","author":"Chirag Gupta","date":"June 17, 2024","format":false,"excerpt":"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. Financial Results: M M Forgings Ltd reported Revenues for Q4FY24 of \u20b9389.00 Crores up from \u20b9373.00 Crore year on year,\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/06\/image-131.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/06\/image-131.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/06\/image-131.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/06\/image-131.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/06\/image-131.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/06\/image-131.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":159236,"url":"https:\/\/alphastreet.com\/india\/m-m-forgings-ltd-q3fy24-12-rise-in-profits\/","url_meta":{"origin":181145,"position":2},"title":"M M Forgings Ltd Q3FY24; 12% rise in Profits","author":"Chirag Gupta","date":"February 26, 2024","format":false,"excerpt":"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. Financial Results: M M Forgings Ltd reported Revenues for Q3FY24 of \u20b9388.00 Crores up from \u20b9361.00 Crore year on year,\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/02\/image-221.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/02\/image-221.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/02\/image-221.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/02\/image-221.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/02\/image-221.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/02\/image-221.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":153700,"url":"https:\/\/alphastreet.com\/india\/m-m-forgings-ltd-q1fy24-10-rise-in-revenue\/","url_meta":{"origin":181145,"position":3},"title":"M M Forgings Ltd Q1FY24; 10% rise in Revenue","author":"Karan_Singh","date":"August 14, 2023","format":false,"excerpt":"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. Financial Results: M M Forgings Ltd reported Revenues for Q1FY24 of \u20b9366.00 Crores up from \u20b9333.00 Crore year on year,\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-1007.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-1007.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-1007.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-1007.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-1007.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-1007.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":169711,"url":"https:\/\/alphastreet.com\/india\/ramkrishna-forgings-ltd-q1-fy26-earnings-results-78-fall-in-profits\/","url_meta":{"origin":181145,"position":4},"title":"Ramkrishna Forgings Ltd Q1 FY26 Earnings Results &#8211; 78% fall in Profits","author":"Chirag Gupta","date":"August 4, 2025","format":false,"excerpt":"Ramkrishna Forgings Ltd is primarily engaged in manufacturing and sale of forged components of automobiles, railway wagons & coaches and engineering parts. It is the 2nd largest forging player in India. Presenting below are its Q1 FY26 earnings. \u00a0 Q1 FY26 Earnings Results Consolidated Revenue from Operations: \u20b91,015 crore, up\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Ramkrishna Forgings Q1 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/3-1.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/3-1.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/3-1.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/3-1.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/3-1.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/3-1.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":171871,"url":"https:\/\/alphastreet.com\/india\/sona-blw-precision-forgings-q2-fy26-earnings\/","url_meta":{"origin":181145,"position":5},"title":"SONA BLW Precision Forgings Q2 FY26 Earnings","author":"Chirag Gupta","date":"October 27, 2025","format":false,"excerpt":"Sona BLW Precision Forgings is an India-based automotive technology company. The company is engaged in designing, manufacturing and supplying engineered automotive systems and components such as differential assemblies, gears, conventional and micro-hybrid motors, BSG systems and EV Traction motors across all vehicle categories. The company develops mechanical and electrical hardware\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"SONA BLW precision Q2 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/SONA-BLW-precision-Q2-FY26-Earnings-Results.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/SONA-BLW-precision-Q2-FY26-Earnings-Results.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/SONA-BLW-precision-Q2-FY26-Earnings-Results.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/SONA-BLW-precision-Q2-FY26-Earnings-Results.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/SONA-BLW-precision-Q2-FY26-Earnings-Results.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/10\/SONA-BLW-precision-Q2-FY26-Earnings-Results.png?resize=1400%2C800&ssl=1 4x"},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/181145","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/users\/2378"}],"replies":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/comments?post=181145"}],"version-history":[{"count":3,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/181145\/revisions"}],"predecessor-version":[{"id":181151,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/posts\/181145\/revisions\/181151"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media\/125269"}],"wp:attachment":[{"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/media?parent=181145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/categories?post=181145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alphastreet.com\/india\/wp-json\/wp\/v2\/tags?post=181145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}