MM Forgings Reports 6% Revenue Decline in Q1 Amid Market Headwinds 3 hours ago Today
MM Forgings Limited reported a 6% year-on-year decline in Q1 total income to INR 358.00 crores. EBITDA decreased to INR 72.00 crores from INR 78.00 crores, while PAT fell to INR 22.00 crores from INR 32.00 crores. Production increased to 18,000 tons, but sales volume declined to 17,780 tons. The company operates at 60% capacity utilization. Domestic sales account for 60% of revenue, with exports at 40%. Commercial vehicles contribute 80% to sales. MM Forgings revised its full-year capex target to INR 150.00-200.00 crores. The company faces challenges including US market headwinds and potential tariffs but sees opportunities in Europe and the Far East markets.
MM Forgings Reports Q1 Results: Revenue Dips Amid Challenging Global Economic Conditions 7 days ago