| Annual Financials | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
Revenue  | 204 | 199 | 211 | 221 | 237 | 214 | 113 |
| Expenses | 191 | 186 | 199 | 199 | 213 | 194 | 100 |
| EBITDA | 13 | 14 | 12 | 22 | 24 | 20 | 12 |
| Operating Profit % | 6 % | 7 % | 6 % | 10 % | 10 % | 9 % | 5 % |
| Depreciation | 4 | 4 | 3 | 4 | 5 | 4 | 2 |
| Interest | 7 | 7 | 6 | 6 | 6 | 7 | 3 |
| Profit Before Tax | 2 | 2 | 3 | 13 | 14 | 9 | 8 |
| Tax | 1 | 1 | 1 | 4 | 4 | 3 | 2 |
| Net Profit | 2 | 2 | 2 | 10 | 10 | 6 | 6 |
| EPS in ₹ | 3.57 | 3.24 | 4.20 | 9.21 | 6.84 | 4.26 | 5.30 |
Maiden Forgings
Maiden Forgings
85.50
0.00
(0.00%)
Key Fundamentals
Market Cap
121.50 Cr
EPS
4.26
PE Ratio
20.07
Dividend Yield
0.00 %
Industry
Industrial Products 52 Week High
88.00
52 Week Low
50.55
PB Ratio
1.59
Debt to Equity
0.90
Sector
Iron & Steel Products Actual
Company News
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Maiden Forgings Limited reported total income of ₹111.36 crore with EBITDA of ₹6.74 crore and PAT of ₹2.10 crore in H1 FY26, driven by sustained demand for bright steel bars and wires. The company's Managing Director highlighted growing engagement in B2G and defence segments, expressing confidence in maintaining positive momentum in the second half of the year.
Maiden Forgings Limited, a manufacturer of bright steel bars and wires, has been officially registered with the Centre for Military Airworthiness Certification (CEMILAC), Bengaluru, under the Ministry of Defence. This certification makes the company eligible to supply products for defence applications and strengthens its participation in India's indigenous defence supply chain. Managing Director Nishant Garg stated the registration validates their manufacturing and quality capabilities and opens opportunities to collaborate with defence establishments under the Atmanirbhar Bharat mission. The certification will enable expansion into Business-to-Government and defence sectors, building upon existing supplier registration with the Ordnance Factory Board. Maiden Forgings has been manufacturing steel products for 35 years, with production facilities in Ghaziabad covering over 100,000 square feet. The company reported total income of ₹213.57 crores, EBITDA of ₹19.91 crores, and PAT of ₹6.05 crores for FY25.
Maiden Forgings Limited has obtained registration with the Centre for Military Airworthiness Certification (CEMILAC), Bengaluru, under the Ministry of Defence, Government of India. The registration was dated October 28, 2025, with application ID 0029102500008. The company is a BSE-listed Indian manufacturing company with 35 years of expertise, based in Delhi with a manufacturing plant spanning over 200,000 square feet. The company manufactures multiple steel products including steel bright bars, ground bars, wire rods, nails, and plastic strip nails, with a production capacity of 50,000 metric tonnes annually.
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Peer Comparison Compare Peers on Screener
Competitors | LTP | Market Cap (₹ Cr.) | P/E Ratio | Revenue (₹ Cr.) | YoY Revenue Growth % | Net Profit (₹ Cr.) | YoY Profit Growth % | RSI |
|---|---|---|---|---|---|---|---|---|
1,720.90 | #1 47,778.38 | 46.68 | 20,785.60 | 14.25 | 757 | #1 460.41 | 38.93 | |
896.75 | 23,638.95 | 11.03 | 14,167.30 | -19.42 | #1 1,902 | 56.71 | 50.15 | |
836.70 | 23,354.96 | 24.41 | 15,368.10 | #1 15.08 | 909 | 20.77 | 35.07 | |
255.70 | 17,122.10 | 24.45 | 5,471.70 | -1.47 | 813 | 1.38 | 43.35 | |
2,365.10 | 16,577.46 | 27.25 | 5,246.10 | 2.22 | 542 | 57.10 | 42.37 | |
631.20 | 15,229.65 | 29.74 | 4,308.30 | 1.75 | 401 | 81.80 | 55.59 | |
448.90 | 13,679.86 | 34.19 | 3,513.50 | 7.59 | 406 | 0.46 | 46.14 | |
166.87 | 10,671.47 | #1 9.44 | #1 20,947.80 | -0.84 | 1,458 | -70.84 | 31.72 | |
565.45 | 7,576.99 | 9.66 | 5,465.90 | -1.45 | 777 | -43.14 | 44.49 | |
75.07 | 7,289.28 | 19.56 | 2,666.90 | -12.30 | -94 | 407.31 | 52.67 |
Growth Rate
Revenue Growth
-9.99 %
Net Income Growth
-38.14 %
Cash Flow Change
137.70 %
ROE
-42.26 %
ROCE
-27.65 %
EBITDA Margin (Avg.)
-8.09 %
Yearly Financial Results
Balance Sheet
| Balance Sheet | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Total Assets | 99 | 105 | 110 | 127 | 149 | 164 |
| Fixed Assets | 29 | 26 | 25 | 29 | 29 | 37 |
| Current Assets | 66 | 75 | 81 | 92 | 112 | 122 |
| Capital Work in Progress | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 70 | 79 | 86 | 98 | 119 | 127 |
| Total Liabilities | 99 | 105 | 110 | 127 | 149 | 164 |
| Current Liabilities | 52 | 55 | 59 | 68 | 62 | 67 |
| Non Current Liabilities | 25 | 21 | 20 | 18 | 16 | 21 |
| Total Equity | 21 | 29 | 31 | 41 | 71 | 77 |
| Reserve & Surplus | 17 | 24 | 26 | 30 | 57 | 62 |
| Share Capital | 5 | 5 | 5 | 10 | 14 | 14 |
Cash Flow
| Cash Flow | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Net Cash Flow | -1 | 2 | -1 | 0 | -1 | 0 |
| Investing Activities | -3 | -0 | -2 | -9 | -7 | -9 |
| Operating Activities | 3 | -0 | 3 | 12 | -12 | 5 |
| Financing Activities | -1 | 2 | -1 | -2 | 19 | 5 |
Share Holding
| % Holding | Feb 2023 | Apr 2023 | Sept 2023 | Mar 2024 | Sept 2024 | Mar 2025 | Sept 2025 |
| Promoter | 100.00 % | 73.37 % | 73.37 % | 73.37 % | 73.37 % | 73.37 % | 71.97 % |
| FIIs | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % |
| DIIs | 0.00 % | 0.00 % | 0.00 % | 0.27 % | 0.00 % | 0.00 % | 0.00 % |
| Government | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % |
| Public / Retail | 0.00 % | 20.21 % | 22.66 % | 22.21 % | 22.04 % | 22.54 % | 24.37 % |
| Others | 0.00 % | 6.42 % | 3.97 % | 4.15 % | 4.58 % | 4.08 % | 3.66 % |
| No of Share Holders | 8 | 1,196 | 841 | 1,256 | 1,488 | 1,490 | 1,288 |
Corporate Action
| Record Date | Corporate Action | Information | Announcement Day | LTP at Annoucement | LTP at Record Day |
|---|---|---|---|---|---|
| 30 Sept 2024 |  Annual General Meeting | NA | 30 Sept 2024 | 90.30 | 90.00 |
| 14 Nov 2024 |  Quarterly Result Announcement | NA | 14 Nov 2024 | 81.60 | 81.21 |
| 29 May 2025 | Quarterly Result Announcement | NA | 29 May 2025 | 73.15 | 73.10 |
| 30 Sept 2025 | Annual General Meeting | NA | 30 Sept 2025 | 78.75 | 75.00 |
| 14 Nov 2025 | Quarterly Result Announcement | NA | 14 Nov 2025 | 85.00 | 85.57 |
| 18 Nov 2025 |  Extraordinary General Meeting | NA | 18 Nov 2025 | 79.99 | 84.62 |
Announcements
Shareholder Meeting / Postal Ballot-Outcome of EGM
1 day ago
1 day agoAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation1 day ago
1 day agoAnnouncement under Regulation 30 (LODR)-Press Release / Media Release4 days ago
4 days agoSubmission Of Unaudited Financial Results Along With Limited Review Report For The Half Year Ended September 30 2025 Pursuant To Regulation 33 Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations 20155 days ago
5 days agoBoard Meeting Outcome for Outcome Of Board Meeting Held On Friday November 14 2025 Pursuant To Regulation 30 Of The Securities Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations 20155 days ago
5 days agoAddendum/ Corrigendum To The Notice Of Extra-Ordinary General Meeting Dated October 24 20255 days ago
5 days agoAnnouncement under Regulation 30 (LODR)-Press Release / Media Release8 days ago
8 days agoIntimation Regarding Registration Of Maiden Forgings Limited With Centre For Military Airworthiness & Certification (CEMILAC)9 days ago
9 days agoBoard Meeting Intimation for Intimation About The Meeting Of The Board Of Directors Of M/S Maiden Forgings Limited To Consider And Approve The Unaudited Financial Results For The Half Year Ended September 302025.Nov 06, 2025
Nov 06, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseNov 01, 2025
Nov 01, 2025General Announcement For Registration As A Supplier At Ordnance Factory BoardOct 29, 2025
Oct 29, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationOct 28, 2025
Oct 28, 2025Notice Of Extra-Ordinary General Meeting To Be Held On November 18 2025Oct 27, 2025
Oct 27, 2025Announcement under Regulation 30 (LODR)-Preferential IssueOct 24, 2025
Oct 24, 2025Board Meeting Outcome for Outcome Of Board Meeting Held On October 24 2025Oct 24, 2025
Oct 24, 2025Board Meeting Intimation for Intimation Of Board Meeting To Be Held On 24 October 2025Oct 16, 2025
Oct 16, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Oct 06, 2025
Oct 06, 2025Shareholder Meeting / Postal Ballot-Scrutinizers ReportOct 01, 2025
Oct 01, 2025Shareholder Meeting / Postal Ballot-Outcome of AGMSep 30, 2025
Sep 30, 2025Closure of Trading WindowSep 26, 2025
Sep 26, 2025Intimation Of Outcome Of Analysts /Investors Meeting Under The SEBI (Listing Obligations And Disclosures Requirements) Regulation 2015Sep 23, 2025
Sep 23, 2025Intimation In Relation To Earnings Conference Call With Arihant Scheduled On Tuesday September 23 2025 At 10:00 A.M.Sep 17, 2025
Sep 17, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationSep 05, 2025
Sep 05, 2025Intimation In Relation To Book Closure For The Purpose Of 20Th Annual General Meeting For The Financial Year 2024-25Sep 04, 2025
Sep 04, 2025Intimation Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 (SEBI Listing Regulations) - Letter To ShareholdersSep 04, 2025
Sep 04, 2025Submission Of Notice Convening The 20Th Annual General Meeting (AGM) For Financial Year 2024-2025 On Tuesdat 30Th September 2025Sep 04, 2025
Sep 04, 2025Reg. 34 (1) Annual Report.Sep 04, 2025
Sep 04, 2025Announcement under Regulation 30 (LODR)-Change in ManagementSep 03, 2025
Sep 03, 2025Announcement under Regulation 30 (LODR)-Change in ManagementSep 03, 2025
Sep 03, 2025Announcement under Regulation 30 (LODR)-Change in ManagementSep 03, 2025
Sep 03, 2025Announcement under Regulation 30 (LODR)-Change in ManagementSep 03, 2025
Sep 03, 2025Board Meeting Outcome for Outcome Of Board Meeting Held On Wednesday September 03 2025 At 04:00 P.M Pursuant To The Regulation 30 Of The Securities Exchange Board Of India (Listing Obligations And Disclosure Requirements) 2015Sep 03, 2025
Sep 03, 2025Outcome Of Analysts / Investors Meeting Held On 12Th August 2025Aug 12, 2025
Aug 12, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 07, 2025
Aug 07, 2025Submission Of Video Recording Link With Alphawealth AvenuesJul 28, 2025
Jul 28, 2025Disclosure Under Regulation 7(2) Read With Regulation 6(2)
Of The SEBI (Prohibition Of Insider Trading) Regulation 2015Jul 15, 2025
Jul 15, 2025Outcome Of Analysts / Investors Meeting Held On 07Th July 2025Jul 07, 2025
Jul 07, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Jul 05, 2025
Jul 05, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJul 02, 2025
Jul 02, 2025Disclosure Under Regulation 7(2) Read With Regulation 6(2) Of The SEBI (Prohibition Of Insider Trading) Regulations 2015Jul 01, 2025
Jul 01, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptJun 06, 2025
Jun 06, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeJun 04, 2025
Jun 04, 2025Announcement under Regulation 30 (LODR)-Investor PresentationJun 02, 2025
Jun 02, 2025Submission Of Earning Release On Audited Financial Results Of The Company For The Half Year And Yearly Ended March 31 2025May 30, 2025
May 30, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationMay 29, 2025
May 29, 2025Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure AMay 29, 2025
May 29, 2025Submission Of Audited Financial Statements And AuditorS Report Thereon For The Half Year And Year Ended March 31 2025 Pursuant To Regulation 33 Of The Securities Exchange Board Of India (Listing Obligations And Disclosure Requirements) 2015May 29, 2025
May 29, 2025Board Meeting Outcome for Outcome Of Board Meeting Held On Thursday May 29 2025 At 04:30 P.M. At Corporate Office Of The CompanyMay 29, 2025
May 29, 2025Board Meeting Intimation for Intimation About The Meeting Of The Board Of Directors Of Maiden Forgings Limited To Consider And Approve The Audited Financial Results For The Half Year And Year Ended March 31 2025May 25, 2025
May 25, 2025Disclosure Under Regulation 30 Of The Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) Regulations 2015May 18, 2025
May 18, 2025Technical Indicators
RSI(14)
Neutral 61.45
ATR(14)
Volatile 2.23
STOCH(9,6)
Neutral 72.35
STOCH RSI(14)
Neutral 39.07
MACD(12,26)
Bearish -0.17
ADX(14)
Strong Trend 25.56
UO(9)
Bearish 69.09
ROC(12)
Uptrend And Accelerating 0.64
WillR(14)
Neutral -21.43
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