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MM Forgings Limited Q3 FY26 earnings call summary

NSE: MMFL · BSE: 522241

Earnings call of 17 Feb 2026, summarised by AI from the filing.

Sales grew 11.3% Y-o-Y with sequential improvement of about 7% in Q3 FY26.

Key takeaways

  1. Q3 sales Sales grew 11.3% Y-o-Y with sequential improvement of about 7% in Q3 FY26.
  2. FY27 growth Company expected to grow by at least ₹300 cr in FY27 from FY26 close.
  3. U.S. demand Export markets saw sequential improvement with U.S. contributions rising; customers returning.
  4. Margin risk Gross margin decline due to product mix, geographical mix, and higher power and labour costs.

Original filing on BSE

MM Forgings Limited Q1 FY27 results

As filed: Revenue ₹410 cr (+13% year on year), EBITDA ₹64.4 cr (+2% year on year), PAT ₹90.4 cr (+25% year on year), EBITDA margin 15.7% (−170 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹430 cr (+16% year on year), EBITDA ₹80.8 cr (+9% year on year), PAT ₹44.7 cr (+36% year on year), EBITDA margin 18.8% (−114 bps). Score 73 of 100, Above trend. Revenue and profit growth were well above the company's own trend; EBITDA growth was above it. EBITDA margin fell 114 bps year on year. Tax rate -26%. Share price after the results: +0.1% in 29 days (Nifty 500: +0.6%).
  • Q3 FY26: Revenue ₹414 cr (+11% year on year), EBITDA ₹69.3 cr (−5% year on year), PAT ₹17.6 cr (−35% year on year), EBITDA margin 16.8% (−276 bps). Score 52 of 100, In line with trend. Revenue growth was well above the company's own trend; EBITDA growth was below it; profit growth was well below it. EBITDA margin fell 276 bps year on year. Revenue grew on the previous quarter, against its usual seasonal pattern. Share price after the results: −7.7% in 28 days (Nifty 500: −8.2%).
  • Q2 FY26: Revenue ₹385 cr (−3% year on year), EBITDA ₹66.0 cr (−14% year on year), PAT ₹17.0 cr (−47% year on year), EBITDA margin 17.1% (−220 bps). Score 15 of 100, Below trend. Revenue growth was below the company's own trend; EBITDA and profit growth were well below it. EBITDA margin fell 220 bps year on year. Tax rate 36%. Profit fell 11% from last quarter. Share price after the results: +19.0% in 28 days (Nifty 500: −0.5%).
  • Q1 FY26: Revenue ₹362 cr (−5% year on year), EBITDA ₹63.0 cr (−14% year on year), PAT ₹19.0 cr (−37% year on year), EBITDA margin 17.4% (−171 bps). Score 6 of 100, Below trend. Revenue, EBITDA and profit growth were well below the company's own trend. EBITDA margin fell 171 bps year on year. Other income 29% of PBT. Profit fell 42% from last quarter. Share price after the results: −4.7% in 30 days (Nifty 500: +0.7%).
  • Q4 FY25: Revenue ₹371 cr (−7% year on year), EBITDA ₹74.0 cr (−3% year on year), PAT ₹33.0 cr (−11% year on year), EBITDA margin 20.0% (+80 bps). Score 30 of 100, Below trend. Revenue and EBITDA growth were well below the company's own trend; profit growth was below it. EBITDA margin rose 80 bps year on year. Share price after the results: −3.0% in 30 days (Nifty 500: +1.0%).
  • Q3 FY25: Revenue ₹374 cr (−6% year on year), EBITDA ₹73.0 cr (−4% year on year), PAT ₹27.0 cr (−21% year on year), EBITDA margin 19.5% (+47 bps). Score 25 of 100, Below trend. EBITDA margin rose 47 bps year on year. Not enough history for a trend yet: scored on growth alone. Revenue fell 6% from last quarter.
  • Q2 FY25: Revenue ₹398 cr (0% year on year), EBITDA ₹77.0 cr (+3% year on year), PAT ₹32.0 cr (−9% year on year), EBITDA margin 19.4% (+46 bps). Score 32 of 100, Below trend. EBITDA margin rose 46 bps year on year. Not enough history for a trend yet: scored on growth alone.

Past price moves after results do not indicate future moves. Not a recommendation.

MM Forgings Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.