₹101.5

▼ -1.3 -1.26%

24 Sept 2026

BSE Listed

Maiden Forgings Limited (543874)

Volume: 19,000Avg Vol 1W: 16,000Avg Vol 1M: 14,09152W Range:₹63.52₹125

BSE maidenforgings.in AI Report

Key Ratios

Checked just now

Market Cap₹144 Cr

Current Price₹101.5

Previous Close₹102.8

High / Low (52w)₹125 / ₹63.52

Volume19,000

Avg Vol (1W)16,000

Avg Vol (1M)14,091

Stock P/E28.51

Book Value₹57.09

Dividend Yield0%

ROE6.19%

ROA432.14%

Revenue (TTM)—

Revenue Growth—

Profit Margin487.72%

Total Debt—

Shares Outstanding1 Cr

Face Value—

EPS (TTM)₹3.56

P/B1.78

Debt / Equity0.88

50 DMA₹103.83

200 DMA₹89.13

Day change-1.26%

Price Chart

₹101.5▲ 35.24% · 1Y

2025-09-24

2026-09-24

20-day avg volume: 14K shares

Pros

Company is almost debt-free.

Cons

Revenue fell 10% YoY.

Profit & Loss (Annual)

Metric	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Revenue	₹204 Cr	₹199 Cr	₹211 Cr	₹221 Cr	₹237 Cr	₹214 Cr
EBITDA	₹9 Cr	₹9 Cr	₹9 Cr	₹19 Cr	₹20 Cr	₹16 Cr
Net Profit	₹2 Cr	₹2 Cr	₹2 Cr	₹10 Cr	₹10 Cr	₹6 Cr
EPS	3.57	3.24	4.2	9.21	6.84	4.26

Balance Sheet

Metric	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Total Assets	₹99 Cr	₹105 Cr	₹110 Cr	₹127 Cr	₹149 Cr	₹164 Cr
Total Liabilities	₹78 Cr	₹76 Cr	₹79 Cr	₹86 Cr	₹78 Cr	₹88 Cr
Equity	₹21 Cr	₹29 Cr	₹31 Cr	₹41 Cr	₹71 Cr	₹76 Cr
Total Debt	—	—	—	—	—	—

Cash Flow

Metric	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Operating	₹0 Cr	₹3 Cr	₹11 Cr	₹-12 Cr	₹5 Cr
Investing	₹0 Cr	₹-2 Cr	₹-9 Cr	₹-7 Cr	₹-9 Cr
Financing	₹2 Cr	₹-1 Cr	₹-2 Cr	₹19 Cr	₹5 Cr
Free Cash Flow	₹0 Cr	₹3 Cr	₹11 Cr	₹-12 Cr	₹5 Cr

Shareholding

Promoter 71.97% Institutions 0.15% Public 27.88%

Efficiency & Working Capital

ROCE9.1%

Interest Coverage2

Dividend Payout—

Debtor Days51 d

Inventory Days130 d

Payable Days22 d

Cash Conversion Cycle159 d

Working Capital Days181 d

Shareholding Details

As of 2026-03-31

Promoter72%

FII0%

DII0.1%

Institutions0.1%

Public27.9%

Promoter Pledge0%

No. of Shareholders1,071

Shareholding Pattern

Quarterly — figures in %. Latest 8 quarters.

Period	Feb 2023	Apr 2023	Sept 2023	Mar 2024	Sept 2024	Mar 2025	Sept 2025	Mar 2026
Promoters	100%	73.4%	73.4%	73.4%	73.4%	73.4%	72%	72%
FIIs	0%	0%	0%	0%	0%	0%	0%	0%
DIIs	0%	0%	0%	0.3%	0%	0%	0%	0.1%
Public	0%	26.6%	26.6%	26.4%	26.6%	26.6%	28%	27.9%
Promoter Pledge	0%	0%	0%	0%	0%	0%	0%	0%
No. of Shareholders	8	1,196	841	1,256	1,488	1,490	1,288	1,071

Returns History (ROE / ROCE / ROA)

Period	ROE	ROCE	ROA	P/E
202503	—	—	—	—

Major Shareholders (>1%)

Name	Category	Stake	Shares
Nivedita Garg	Shareholding of Promoter and Promoter Group	42.6%	60,56,800
Nishant Garg	Shareholding of Promoter and Promoter Group	29.4%	41,70,600
Mukesh Sharma	Public Shareholding	3.2%	4,50,000
Divya Jaiswal	Shareholding of Promoter and Promoter Group	0%	100
Hemant Kumar	Shareholding of Promoter and Promoter Group	0%	100
Apoorva Garg	Shareholding of Promoter and Promoter Group	0%	100
Sarthi Agarwal	Shareholding of Promoter and Promoter Group	0%	100
Harsh Prakash	Shareholding of Promoter and Promoter Group	0%	100
Mayank Govil	Shareholding of Promoter and Promoter Group	0%	100

Board of Directors

Name	Designation	Year
Nishant Garg	Managing Director	2025
Nivedita Garg	Whole-time Director	2025
Abhilash Rastogi	Independent Director	2025
Raj Kumar Mittal	Independent Director	2025
Urvi Agarwal	Independent Director	2025
MONIKA RANA	Company Sec. & Compli. Officer	2025

Capital Structure (₹ Cr)

Year	Face Value	Authorised	Issued	Paid-up
2026	₹10	20	14	14

Related-Party Transactions (₹ Cr)

Year	KMP	Others	Total
2026	1	1	3
2026	0	1	1
2026	1	0	1

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