MM Forgings Limited has released the official transcript of its Q3FY26 post-results earnings conference call held on February 17, 2026, providing detailed insights into the company's performance and strategic outlook. The automotive forging company demonstrated resilience with stable operational performance amid challenging global economic conditions.

Conference Call Highlights and Management Commentary

Chairman and Managing Director Vidyashankar Krishnan highlighted the company's reasonably good quarter performance, with sales growing 11.3% year-on-year and sequential improvement of 7% in Q3. The growth was primarily driven by volume improvements of approximately 3% compared to Q3FY25, along with positive changes in average sales realization.

Export Market Recovery and US Outlook

The management reported encouraging signs in export markets after weakness in the first eight months of the year. The US market showed sequential improvement with customers returning after running down inventory levels. Management expects partial impact in Q4FY26 with full benefits materializing from Q1FY27 onwards as new production programs commence.

Europe registered healthy improvement in product mix, resulting from market share gains and new program launches. The company anticipates ₹50-75 crore increase in sales from export recovery, particularly from the US Class 8 truck segment.

Cost Management and Interest Reduction Strategy

MM Forgings announced significant cost reduction initiatives, particularly targeting interest expenses. The company implemented interest rate swaps shifting term loans from rupee to euro, expecting to reduce interest costs from the current ₹80 crore run rate to ₹55 crore in FY27.

Additional cost savings include ₹15 crore reduction in power costs through transition to green energy and operational efficiency improvements. Combined with other initiatives including PNG adoption, the company targets ₹40-45 crore total savings.

Capacity Expansion and Future Growth

The company's 16,500-ton press commissioning is progressing with expected commercial production by March-April 2026. While immediate revenue contribution will be minimal in FY27, the press offers ₹300 crore revenue potential over 2-3 years. Current year capex stands at ₹137 crore of planned ₹175 crore, with FY27 capex projected at ₹150-170 crore.

Management expressed confidence in delivering ₹300 crore revenue growth in FY27 from existing capacity, driven by domestic CV market recovery, export improvements, and new product launches including crankshafts for passenger vehicle customers.

Production Mix and Regulatory Compliance

The company maintained its product mix with forging at 47% and machining at 53% for nine months FY26, compared to 42% forging and 58% machining in the corresponding previous period. Management expects machining mix to improve as most new orders are machining-focused.

MM Forgings fulfilled regulatory obligations under SEBI LODR Regulation 30 by releasing the conference call transcript on February 19, 2026, ensuring transparency for stakeholders and maintaining compliance with stock exchange requirements.

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.