MM Forgings Reports Stable Nine-Month Performance Amid Global Economic Headwinds
MM Forgings Limited reported stable performance for nine months ended December 31, 2025, with standalone revenue of ₹1,131.83 crore, up marginally from ₹1,122.20 crore year-on-year. However, profit after tax declined significantly to ₹65.80 crore from ₹100.06 crore due to increased finance costs and operational challenges. The company navigated global economic volatility, tariff uncertainties, and measured export activity while maintaining focus on operational efficiency and cost optimization.
*this image is generated using AI for illustrative purposes only.
MM Forgings Limited has delivered a stable performance for the nine months ended December 31, 2025, demonstrating resilience amid challenging global economic conditions. The automotive forging company reported mixed financial results, with revenue growth offset by margin pressures from increased operational costs and global headwinds.
Financial Performance Overview
The company's standalone financial results for the nine-month period showed marginal revenue growth alongside declining profitability. Total income reached ₹1,153.19 crore compared to ₹1,143.49 crore in the previous year.
| Metric | YTD Dec FY26 (₹ Cr) | YTD Dec FY25 (₹ Cr) | Change |
|---|---|---|---|
| Revenue from Operations | 1,131.83 | 1,122.20 | +0.86% |
| EBITDA | 218.69 | 243.00 | -10.01% |
| Profit After Tax | 65.80 | 100.06 | -34.24% |
| Earnings Per Share | 13.63 | 20.72 | -34.22% |
The decline in profitability was primarily attributed to increased finance costs, which rose to ₹59.89 crore from ₹46.13 crore, and higher depreciation expenses of ₹67.50 crore compared to ₹59.80 crore in the previous year.
Consolidated Financial Results
On a consolidated basis, the company reported revenue from operations of ₹1,160.22 crore, slightly higher than ₹1,154.54 crore in the corresponding period. Consolidated profit after tax stood at ₹53.33 crore, down from ₹88.57 crore, with earnings per share declining to ₹11.05 from ₹18.34.
Operating Environment and Challenges
The company faced significant headwinds during the period, operating in an environment marked by global economic volatility and evolving geopolitical developments. Key challenges included:
- Tariff-related uncertainties among major economies impacting global trade
- Measured export activity, particularly involving the United States market
- Global economic moderation affecting the Indian automotive industry exports
- Macroeconomic headwinds influencing overall industry performance
Strategic Response and Resilience
Despite the challenging operating environment, MM Forgings maintained its focus on operational efficiency and business continuity. The company's management emphasized several key strategic initiatives:
- Continued focus on innovation and cost optimization to support margins
- Strengthening of supply chains and improving operational resilience
- Implementation of strong internal processes and disciplined cost management
- Maintenance of robust balance sheet fundamentals
Management Outlook
The company's leadership expressed confidence in its ability to navigate the evolving economic landscape. Backed by a robust balance sheet and clear long-term strategic outlook, MM Forgings remains positioned to capitalize on emerging opportunities while delivering sustainable value to stakeholders. The management noted that underlying demand and ongoing structural improvements in the automotive industry continue to provide support despite current challenges.
Historical Stock Returns for MM Forgings
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.19% | +3.98% | +11.04% | +53.11% | +25.83% | +90.61% |
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