Maiden Forgings Limited reported a net profit of ₹5.02 crore for the financial year ended March 31, 2026, driven by a 46.37% year-on-year surge in H2 FY26 profit to ₹2.93 crore. The company achieved its highest-ever production of 35,546 MT, with total income for the year reaching ₹233.96 crore. The board approved the audited standalone financial results for the half-year and year ended March 31, 2026, during a meeting held on May 30, 2026.

Financial Performance

For the full year, the company recorded revenue from operations of ₹231.61 crore and total income of ₹233.96 crore. Total expenses for the period stood at ₹227.02 lakh. The profit before tax for the year was ₹6.94 crore, with the company incurring a total tax expense of ₹1.92 crore. Basic earnings per share for the year were reported at ₹3.53.

Operational Highlights

The financials reflect a single segment focused on the manufacturing of bright steel bars and wires. H2 FY26 revenue grew 17.46% to ₹122.60 crore, while EBITDA increased 3.52% to ₹10.49 crore. The company strengthened its presence in the defence sector by securing registration with the Centre for Military Airworthiness & Certification (CEMILAC) and the Ordnance Factory Board (OFB) Muradnagar.

Assets and Liabilities

As of March 31, 2026, the company's total assets stood at ₹180.71 crore. Shareholders' funds were recorded at ₹81.13 crore, comprising share capital of ₹14.21 crore and reserves of ₹66.92 crore. Current liabilities amounted to ₹81.91 crore, which included short-term borrowings of ₹52.22 crore and trade payables of ₹18.43 crore.

Maiden Forgings Limited has delivered exceptional operational performance in FY 2025-26, achieving record-breaking production levels and substantial revenue growth. The company announced these milestone achievements through a regulatory filing under Regulation 30 of SEBI LODR Regulations, 2015.

Record Production Achievement

The company achieved its highest-ever production output during FY 2025-26, demonstrating strong operational efficiency and market demand.

This production milestone represents the company's ability to scale operations effectively while maintaining quality standards across its manufacturing processes.

Government Sector Expansion

Maiden Forgings made notable progress in the B2G segment during FY 2025-26, securing strategic registrations with several prestigious government organizations. The company successfully obtained registrations with:

• Ordnance Factory, Murad Nagar
• Terminal Ballistics Research Laboratory (TBRL), DRDO
• Centre for Military Airworthiness & Certification (CEMILAC), DRDO
• Ordnance Factory Board, Kolkata (secured in previous financial year)

The company also successfully executed and delivered multiple orders to esteemed B2G organizations including HAL, BHEL, and NTPC, strengthening its position in the government sector.

Infrastructure Development

FY 2025-26 marked a significant year for infrastructure expansion, with the company focusing on construction of its new manufacturing facility.

The completion of this new facility represents a major step in the company's capacity expansion strategy, positioning it for future growth opportunities.

Strategic Positioning

The combination of record production levels, revenue growth, and successful B2G sector penetration demonstrates Maiden Forgings' strong market position. The company's ability to secure registrations with multiple DRDO organizations and ordnance factories indicates its technical capabilities and quality standards meet stringent government requirements.

With the new plant facility ready for operations and established relationships with key government organizations, the company appears well-positioned for continued growth in the upcoming financial year.