MM Forgings Limited has announced a board meeting scheduled for February 13, 2026, to review and approve the company's quarterly financial performance. The meeting represents a key milestone in the company's regulatory compliance and financial reporting process for the third quarter of fiscal year 2026.

Board Meeting Details

The board meeting has been convened in accordance with Regulation 29(1) of SEBI LODR Regulations. The primary agenda items for the February 13, 2026 meeting include:

The board will consider and approve the unaudited standalone and consolidated financial results for the quarter ended December 31, 2025. Additionally, the meeting may address other matters as specified in the formal agenda.

Trading Window Restrictions

In compliance with regulatory requirements, MM Forgings Limited has implemented a trading window closure affecting specified persons within the organization. The restrictions are designed to prevent insider trading during the financial results approval period.

The company initially communicated the trading window closure on December 26, 2025, providing advance notice to all affected parties. During this period, specified persons are prohibited from trading in the company's equity shares.

Corporate Communication

The formal notification was addressed to both major stock exchanges where MM Forgings Limited shares are listed. The company maintains its corporate office at SVK Towers, 8th Floor, A25 Industrial Estate, Guindy, Chennai. The communication was digitally signed by Company Secretary Chandrasekar S on February 4, 2026, ensuring proper documentation and regulatory compliance.

MM Forgings Limited continues to maintain its certifications to IATF 16949:2016 and ISO 9001:2015 standards, reflecting the company's commitment to quality management systems and automotive industry standards.

MM Forgings Limited, a leading forging company, reported a decline in revenue for the second quarter of fiscal year 2026, primarily due to inventory buildup at US customers and a slowdown in the Class VIII truck market. However, the company expects a recovery in the coming months and aims to maintain its annual revenue.

Q2 FY26 Financial Highlights

MM Forgings achieved a turnover of INR 758.00 crores in Q2 FY26, compared to INR 793.00 crores in the same period last year. The company's EBITDA also saw a decline, dropping to INR 142.00 crores from INR 162.00 crores in the previous year.

Market Challenges and Recovery Expectations

The company attributed the revenue decline to two main factors:

1. Inventory buildup at US customers
2. Slowdown in the Class VIII truck market

Despite these challenges, MM Forgings expects a recovery starting from November 2025. The company anticipates US customers to restart purchases, targeting a revenue of INR 750.00-800.00 crores in the second half of FY26.

Expansion and Future Outlook

MM Forgings is set to commission a 16,500-ton press by March 2026, which could potentially add INR 300.00 crores in annual revenue from FY27 onwards. This expansion is part of the company's strategy to enhance its production capabilities and address new market segments.

Vidyashankar Krishnan, Chairman and Managing Director of MM Forgings, stated, "We expect our sales to grow by at least INR 300.00 crores in the next 15 to 18 months, assuming that things don't bottom out further."

Debt Management and Financial Strategy

The company reported a net debt of approximately INR 855.00 crores as of Q2 FY26. Management indicated that they consider this to be near peak debt levels for the current scale of operations. MM Forgings plans to focus on debt management and potentially explore options for equity infusion in the future, although this remains an outlier consideration at present.

Conclusion

While MM Forgings faces short-term challenges due to market conditions, particularly in the US, the company remains optimistic about its recovery and growth prospects. With strategic expansions and a focus on financial prudence, MM Forgings aims to navigate the current market volatility and position itself for future growth opportunities.