Balu Forge Industries announced robust unaudited financial results for the quarter and nine months ending December 31, 2025. Revenue from Operations for the nine months (9M FY26) reached Rs. 8,438 Mn, marking a 29.0% YoY growth. EBITDA climbed 36.0% YoY to Rs. 2,396 Mn, while Profit After Tax (PAT) saw a substantial increase of 36.8% YoY to Rs. 1,932 Mn. The management highlighted the successful operationalization of key strategic assets, including advanced CNC machining lines and the dedicated 155mm artillery shell production line.
Consolidated Financial Highlights for 9M FY26
Balu Forge Industries Ltd. has declared its unaudited consolidated financial performance for the nine months ending December 31, 2025. The results demonstrate sustained momentum across key metrics:
- Revenue from Operations for 9M FY26 stood at Rs. 8,438 Mn, increasing by 29.0% year-over-year (YoY) from Rs. 6,540 Mn in FY25.
- EBITDA grew by 36.0% YoY to Rs. 2,396 Mn. The EBITDA Margin for the nine months improved to 28.4%.
- Profit After Tax (PAT) saw a significant rise of 36.8% YoY, reaching Rs. 1,932 Mn, resulting in a PAT Margin of 22.6%.
- Earnings Per Share (EPS) for the period was Rs. 17.0, up 26.2% from Rs. 13.5 in the previous corresponding period.
Key Performance in Q3 FY26
The third quarter performance continued the positive trajectory:
- Revenue for Q3 FY26 was Rs. 3,111 Mn, a 21.6% YoY increase.
- Q3 PAT was Rs. 711 Mn, demonstrating a 20.5% YoY growth.
Strategic Operational Milestones Achieved
Chairman & Managing Director, Mr. Jaspal Singh Chandock, commented that 9M FY26 reflected disciplined execution and the strengthening of the integrated manufacturing platform. Several high-impact strategic assets were successfully operationalized during the quarter, positioning the company for sustained long-term growth.
Advancements in Manufacturing Capability
The company successfully commercialized its newly commissioned precision machining facility, which is equipped with advanced 7-Axis and 11-Axis CNC machining lines. This enhances the capability to manufacture highly complex components with micron-level accuracy, moving the company up the value chain for mission-critical applications.
Defense Sector Breakthrough
A major achievement was the commercialization of the dedicated artillery shell production line, focusing on the high-demand 155mm large calibre. This move strongly supports the Atmanirbhar Bharat vision by building indigenous defense manufacturing capabilities.
External Validation and Future Positioning
Balu Forge has been formally inducted into the NATO Supply Chain, signifying adherence to the highest global quality and compliance standards. This external recognition, coupled with existing infrastructure capable of servicing engagements for up to five years, ensures the company is well-positioned for scalable and sustainable growth in defense and other critical segments.
Revenue Diversification Overview
Analysis of the 9M FY26 revenue from operations by end-user industry shows a high concentration in core sectors:
- Agriculture remains the largest segment at 36%.
- Defence now constitutes 20% of the revenue, up from 18% in FY25.
- Heavy Engineering & Industrial Machinery accounts for 17%.
- Commercial Vehicles represents 12% of the total revenue mix for the nine months.
Integrated Manufacturing Strength
Balu Forge continues to expand its integrated platform, which includes both forging and machining capabilities across its strategically located facilities in Karnataka, India (3 Units, 53 Acres) and the United Arab Emirates (1 Unit, 1 Acre). The company is actively working to replace its outsourcing strategy with in-house forging capabilities, aiming to increase capacity to 1,50,000 MTPA from the current 100,000+ MTPA forging capacity.
Source: BSE
