Industrial Products company M M Forgings announced FY24 results:
During the year, revenue from operations grew by 9% at Rs 1,553 crore, as against Rs 1,430 crore recorded in FY23.
Operating EBITDA for the first time crossed Rs 300 crore and stands at Rs 314 crore . against Rs 275 crore., thereby improving by 14% over the last year.
PBT for F24 grew by 13% at Rs 199 crore as compared to Rs 176 crore reported during the previous year.
PAT for the current year grew by 15% at Rs 145 crore as compared to Rs 126 crore reported during the year ended March 2023.
The Domestic sales, during the year stands at Rs 948 crore and Export sales is at Rs 563 crore Export sales grew by 15% during FY24.
In April 2024, the company completed 50 years of forging operations. To commemorate this golden jubilee year, the Company announces a 1:1 bonus issue of shares, subject to the approval of shareholders. This is the fourth bonus issue since going public. The earlier bonus issues were in the years 2005, 2008, and 2018. Further, to reward the shareholders on this occasion, the dividend is increased to Rs 8 per share.
Founder S. E. Krishnan said, " MM FORGINGS LIMITED, a leading forging manufacturer in India, focuses on achieving customer satisfaction through quality, timely deliveries, andcompetitive pricing. As a one-stop shop for domestic and international customers, MMF prioritizes "Forging Excellence" in product quality and stakeholder relationships.
As Chairman of MMF, I am excited to announce the company's 50thyear of Forging Excellence, highlighting its financial performance, capacity expansion, and value addition, as well as its operational excellence and board expansion.
I express my gratitude to my colleagues, customers, suppliers, financial institutions, the state and central government, and shareholders for their support, acknowledging the achievement of this milestone through the grace of the Almighty and the blessings of my Guru."
Incorporated in 1946 Madras Motors Pvt Ltd, the company went public in 1975. Originally dealing in imported motorcycles, it later diversified to establish steel forging plants. The company changed to its present name, M M Forgings on 1 Apr.`93. It was promoted by S E Krishnan and S R Subramanian.
The company manufactures carbon and alloy steel forgings -- with individual forging pieces weighing between 15 kg and 60 kg -- at its two forging units at Singampunari, Madurai district, and Viralimalai, Trichy district, (combined capacity : 15,000 tpa) both in Tamilnadu.
The company`s products form important inputs for various critical components in the automobile, tractor, earth-moving, power, material handling, oil, railway and core engineering industries. The company`s clientele includes Ashok Leyland, BEML, BHEL, Audco Valves and Tractor Engineers. During 1994-95, the company has been accredited with the ISO 9002 certificate. The technical collaboration with Tokai Corporation of Japan has enabled the company to improve its quality and productivity.
During 2001, the company has increased its installed capacity of steel forgings from 15000 tpa to 20000 tpa. The technology collaboration with Tokai Corporation of Japan has enabled the company to improve its quality and productivity. The company has completed 2 Wind farm in Muppandal and the same is expected to generated 6 Million KWHr of power each year. In 2002 the company has merged its wholly owned subsidiary viz Gears India Madaras Ltd,
The production capacity of Steel Forgings is being increased from 20000 tonnes to 26500 tonnes and this is under process at the end of the financial year 2003-04.Machining capacity has also been substantially increased in line with changing customer demand.
Incorporated in 1946 Madras Motors Pvt Ltd, the company went public in 1975. Originally dealing in imported motorcycles, it later diversified to establish steel forging plants. The company changed to its present name, M M Forgings on 1 Apr.`93. It was promoted by S E Krishnan and S R Subramanian.
The company manufactures carbon and alloy steel forgings -- with individual forging pieces weighing between 15 kg and 60 kg -- at its two forging units at Singampunari, Madurai district, and Viralimalai, Trichy district, (combined capacity : 15,000 tpa) both in Tamilnadu.
The company`s products form important inputs for various critical components in the automobile, tractor, earth-moving, power, material handling, oil, railway and core engineering industries. The company`s clientele includes Ashok Leyland, BEML, BHEL, Audco Valves and Tractor Engineers. During 1994-95, the company has been accredited with the ISO 9002 certificate. The technical collaboration with Tokai Corporation of Japan has enabled the company to improve its quality and productivity.
During 2001, the company has increased its installed capacity of steel forgings from 15000 tpa to 20000 tpa. The technology collaboration with Tokai Corporation of Japan has enabled the company to improve its quality and productivity. The company has completed 2 Wind farm in Muppandal and the same is expected to generated 6 Million KWHr of power each year. In 2002 the company has merged its wholly owned subsidiary viz Gears India Madaras Ltd,
The production capacity of Steel Forgings is being increased from 20000 tonnes to 26500 tonnes and this is under process at the end of the financial year 2003-04.Machining capacity has also been substantially increased in line with changing customer demand.
M M Forgings share price as on 18 Jul 2024 is Rs. 667.4. Over the past 6 months, the M M Forgings share price has decreased by 32.77% and in the last one year, it has decreased by 27.19%. The 52-week low for M M Forgings share price was Rs. 661.05 and 52-week high was Rs. 1352.
You can buy M M Forgings Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy M M Forgings Ltd Share.
Company share prices and volatile and keep changing according to the market conditions. As of Jul 16, 2024 03:57 PM the closing price of M M Forgings Ltd was Rs.667.40.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of Jul 16, 2024 03:57 PM, the market cap of M M Forgings Ltd stood at Rs. 1,611.17 Cr.