About Kalyani Forge
Kalyani Forge is a publicly listed company based in Pune (India) founded in 1979. It manufactures forged and machined components for automotive, construction, and industrial applications. It operates on a B2B model. Its Indian entity Kalyani Forge Limited reported revenue of ₹238 Cr. Kalyani Forge offers products and services including Hot Forging, Cold and Warm Forging, Precision Machining, and Heat Treatment. Its focus areas include Manufacturing, Metal Forming, Forging and Hot Forging. Similar companies include Maini Precision Products, Ramkrishna Forgings and Bharat Forge.
Company details
Kalyani Forge Ltd., based in Pune, India, is a certified engineering company focused on metal forming and forging technologies. They produce forged, machined, and assembled products for industries including automotive, construction, power generation, marine, railways, and general industrial sectors. With capabilities in hot, warm, and cold forging, along with heat treatment and precision machining, they serve global customers through reliable supply chains and quality standards.
- Headquarters Pune, India
- Stage Public
- SectorsIndustrial Goods & Manufacturing
- Website kalyaniforge.co.in
- Social LinkedIn X Facebook
- Legal Name Kalyani Forge Limited
- Market Cap₹310 Cr
KALYANIFRG · NSE
- Share Price₹814.65
-4.21% today
- Revenue₹235 Cr
FY 2025-26 · -0.5% YoY
- EBITDA₹27.99 Cr
Margin 11.9%
- Net Profit₹9.34 Cr
FY 2025-26 · +11.3% YoY
- P/E (TTM)24.3x
P/B 3.2x
- ROE10.1%
ROCE 11.6%
- Debt / Equity0.96
Interest cover 41.5x
Associated legal entities of Kalyani Forge
Kalyani Forge operates through Kalyani Forge Limited, a listed company (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2026) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Kalyani Forge Limited Listed CIN L28910MH1979PLC020959 | Active | 29 Jan 1979 | Pune, Maharashtra | ₹238 Cr | 578 | 7 | View details |
Products & Services of Kalyani Forge
Kalyani Forge offers a comprehensive portfolio of products and services, including Hot Forging, Cold and Warm Forging, Precision Machining, and Heat Treatment.
Provides hot forging for components in automotive and industrial applications
Offers cold and warm forging for precise material shaping
Delivers machining to achieve exact tolerances for parts
Applies heat treatment for enhanced product performance
Board of directors of Kalyani Forge Limited (Kalyani Forge)
Kalyani Forge Limited is the primary company behind Kalyani Forge. The board of Kalyani Forge Limited currently have 6 directors; the longest-serving is Gaurishankar Neelkanth Kalyani, appointed in 2003. 22 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Gaurishankar Neelkanth Kalyani DIN 00519610 | Director | 26 Apr 2003 | 23 yrs 6 mo | Kalyani Forge Limited |
| Viraj Gaurishankar Kalyani DIN 02268846 | Managing Director | 17 May 2013 | 13 yrs 5 mo | Kalyani Forge Limited |
| Rohini Gaurishankar Kalyani DIN 00519565 | Director | 16 Oct 2013 | 13 yrs | Kalyani Forge Limited |
| Ajay Hari Tandon DIN 00128667 | Director | 27 Apr 2024 | 2 yrs 6 mo | Kalyani Forge Limited |
| Jeevan Mahaldar DIN 00137467 | Director | 30 May 2024 | 2 yrs 5 mo | Kalyani Forge Limited |
| Viswanathan Swaminathan DIN 00638389 | Director | 12 Nov 2025 | 11 mo | Kalyani Forge Limited |
People of Kalyani Forge
9 people are tracked at Kalyani Forge (2 in leadership, 6 in board & advisors, 1 in team).
| Name | Role | Group |
|---|---|---|
| Managing Director & CEO | Leadership | |
Mallikarjun Tagare | Head Of IT | Leadership |
| Managing Director | Board & advisors | |
| Executive Chairperson | Board & advisors | |
Adit Rathi | Independent Director | Board & advisors |
| Non-Executive Director | Board & advisors | |
Pradip Nadkarni | Independent Director | Board & advisors |
Abhijit Sen | Independent Director | Board & advisors |
Nitin Dongare | Quality Manager | Team |
Complete people profiles for Kalyani Forge
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
IPO & Listings of Kalyani Forge
Kalyani Forge is a publicly listed company on the NSE with ticker symbol KALYANIFRG in India, operating in the Producer manufacturing sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
- IPO date20 Dec 2007
- Listed onNSE: KALYANIFRG
- Listed entityKalyani Forge Limited
- Exchange sectorProducer manufacturing
- ISININE314G01014
- Share price₹851.25 (+1.93% on the day) · 2026-10-14
- Market capitalisation₹309 Cr
- Price to earnings25.0
- EPS (diluted, trailing year)₹34.05
- Dividend yield0.47%
- Volume (last session)1,289
Financials of Kalyani Forge
Exchange-reported figures of Kalyani Forge Limited, the listed company behind Kalyani Forge (NSE: KALYANIFRG).
Financial Highlights
FY 2025-26 · StandaloneRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 235 | 236 | 237 | 266 | 246 | 181 | 201 |
| Revenue growth | -0.5% | -0.4% | -10.9% | +7.9% | +36.4% | -10.0% | - |
| EBITDA | 27.99 | 23.24 | 13.85 | 8.85 | 18.67 | 12.07 | 8.41 |
| EBITDA margin | +11.9% | +9.9% | +5.9% | +3.3% | +7.6% | +6.7% | +4.2% |
| Profit before tax | 14.36 | 11.60 | 5.61 | 1.28 | 4.02 | (2.07) | (8.11) |
| Net profit | 9.34 | 8.39 | 4.49 | (0.23) | 2.95 | (1.32) | (6.90) |
| Net profit margin | +4.0% | +3.6% | +1.9% | -0.1% | +1.2% | -0.7% | -3.4% |
| EPS (₹) | 25.60 | 22.85 | 12.50 | (0.50) | 8.61 | (4.84) | (19.03) |
| Balance sheet | |||||||
| Total assets | 210 | 169 | 151 | 123 | 136 | 134 | 139 |
| Net worth | 95.54 | 89.69 | 82.01 | 77.70 | 103 | 100 | 102 |
| Total debt | 106 | 71.57 | 60.91 | 38.19 | 26.48 | 27.32 | 31.45 |
| Cash & bank | 2.26 | 2.91 | 5.93 | 5.46 | 4.90 | 2.72 | 5.64 |
| Net working capital | 106 | 86.95 | 81.89 | 74.41 | 81.29 | 71.94 | 65.15 |
| Cash flow | |||||||
| Cash from operations | 7.46 | 21.83 | 10.00 | (2.50) | 11.12 | 7.42 | 24.07 |
| Cash from investing | (33.16) | (24.35) | (25.85) | (5.85) | (4.14) | (1.26) | (1.19) |
| Cash from financing | 24.94 | 2.60 | 15.73 | 7.51 | (5.22) | (7.49) | (22.91) |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 66.80 | 56.98 | 57.86 | 55.67 | 64.13 | 58.95 | 58.62 | 62.33 |
| Revenue growth (YoY) | +4.2% | -3.3% | -1.3% | -10.7% | +13.0% | - | - | - |
| Other income | 0.28 | 2.27 | 0.36 | 0.56 | 0.39 | 0.38 | 0.75 | 0.52 |
| Total expenses | 56.18 | 50.24 | 49.10 | 49.12 | 58.19 | 52.60 | 52.55 | 54.56 |
| EBITDA | 10.62 | 6.74 | 8.76 | 6.55 | 5.94 | 6.35 | 6.07 | 7.77 |
| EBITDA margin | +15.9% | +11.8% | +15.1% | +11.8% | +9.3% | +10.8% | +10.4% | +12.5% |
| Depreciation | 3.01 | 2.63 | 2.46 | 2.41 | 2.04 | 2.04 | 2.08 | 1.91 |
| Interest | 1.73 | 0.24 | 2.71 | 2.43 | 2.27 | 2.06 | 1.96 | 1.58 |
| Profit before tax | 6.16 | 6.14 | 3.95 | 2.27 | 2.02 | 2.63 | 2.78 | 4.80 |
| Tax | 1.67 | 0.25 | 4.07 | 0.12 | 0.62 | 0.42 | 0.97 | 0.88 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 66.80 | 56.98 | 57.86 | 55.67 | 64.13 | 58.95 | 58.62 | 62.33 |
| Revenue growth (YoY) | +4.2% | -3.3% | -1.3% | -10.7% | +13.0% | - | - | - |
| Other income | 0.28 | 2.27 | 0.36 | 0.56 | 0.39 | 0.38 | 0.75 | 0.52 |
| Total expenses | 56.18 | 50.24 | 49.10 | 49.12 | 58.19 | 52.60 | 52.55 | 54.56 |
| EBITDA | 10.62 | 6.74 | 8.76 | 6.55 | 5.94 | 6.35 | 6.07 | 7.77 |
| EBITDA margin | +15.9% | +11.8% | +15.1% | +11.8% | +9.3% | +10.8% | +10.4% | +12.5% |
| Depreciation | 3.01 | 2.63 | 2.46 | 2.41 | 2.04 | 2.04 | 2.08 | 1.91 |
| Interest | 1.73 | 0.24 | 2.71 | 2.43 | 2.27 | 2.06 | 1.96 | 1.58 |
| Profit before tax | 6.16 | 6.14 | 3.95 | 2.27 | 2.02 | 2.63 | 2.78 | 4.80 |
| Tax | 1.67 | 0.25 | 4.07 | 0.12 | 0.62 | 0.42 | 0.97 | 0.88 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 235 | 236 | 237 | 266 | 246 | 181 | 201 |
| Revenue growth | -0.5% | -0.4% | -10.9% | +7.9% | +36.4% | -10.0% | - |
| Other income | 3.58 | 3.27 | 3.88 | 6.99 | 1.32 | 1.48 | 2.74 |
| Total expenses | 207 | 213 | 223 | 257 | 228 | 169 | 193 |
| Employee cost | 46.56 | 39.72 | 38.37 | 36.79 | 35.24 | 26.38 | 30.76 |
| EBITDA | 27.99 | 23.24 | 13.85 | 8.85 | 18.67 | 12.07 | 8.41 |
| EBITDA margin | +11.9% | +9.9% | +5.9% | +3.3% | +7.6% | +6.7% | +4.2% |
| Depreciation | 9.55 | 7.87 | 6.22 | 11.19 | 12.34 | 12.82 | 13.89 |
| Interest | 7.66 | 7.04 | 5.90 | 3.37 | 3.63 | 2.80 | 5.37 |
| Profit before tax | 14.36 | 11.60 | 5.61 | 1.28 | 4.02 | (2.07) | (8.11) |
| Tax | 5.05 | 3.29 | 1.07 | 1.45 | 0.89 | (0.31) | (1.21) |
| Net profit | 9.34 | 8.39 | 4.49 | (0.23) | 2.95 | (1.32) | (6.90) |
| Net profit margin | +4.0% | +3.6% | +1.9% | -0.1% | +1.2% | -0.7% | -3.4% |
| EPS (₹) | 25.60 | 22.85 | 12.50 | (0.50) | 8.61 | (4.84) | (19.03) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 3.64 | 3.64 | 3.64 | 3.64 | 3.64 | 3.64 | 3.64 |
| Reserves & surplus | 91.90 | 86.05 | 78.37 | 74.06 | 99.30 | 96.55 | 98.48 |
| Shareholders' funds (net worth) | 95.54 | 89.69 | 82.01 | 77.70 | 103 | 100 | 102 |
| Secured loans | 106 | 71.57 | 60.91 | 38.19 | 26.06 | 26.10 | 25.22 |
| Unsecured loans | 0.00 | 0.00 | 0.00 | 0.00 | 0.42 | 1.22 | 6.23 |
| Total debt | 106 | 71.57 | 60.91 | 38.19 | 26.48 | 27.32 | 31.45 |
| Total liabilities | 210 | 169 | 151 | 123 | 136 | 134 | 139 |
| Assets | |||||||
| Gross block | 329 | 296 | 291 | 119 | 114 | 115 | 118 |
| Net block | 89.62 | 60.97 | 56.35 | 39.12 | 43.94 | 53.03 | 65.28 |
| Capital work in progress | 10.28 | 15.05 | 5.28 | 3.11 | 2.31 | 1.13 | 0.98 |
| Investments | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Inventories | 35.49 | 57.17 | 56.10 | 47.31 | 48.87 | 44.88 | 40.19 |
| Sundry debtors | 103 | 80.82 | 61.86 | 74.87 | 72.82 | 67.02 | 56.56 |
| Cash & bank balances | 2.26 | 2.91 | 5.93 | 5.46 | 4.90 | 2.72 | 5.64 |
| Loans & advances | 7.40 | 7.30 | 12.10 | 4.79 | 2.26 | 6.62 | 8.41 |
| Total current assets | 148 | 148 | 136 | 132 | 129 | 121 | 111 |
| Total current liabilities | 41.40 | 61.25 | 54.10 | 58.02 | 47.56 | 49.30 | 45.65 |
| Net working capital | 106 | 86.95 | 81.89 | 74.41 | 81.29 | 71.94 | 65.15 |
| Total assets | 210 | 169 | 151 | 123 | 136 | 134 | 139 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 0.99 | 0.92 | 1.03 | 1.87 | 0.10 | 1.44 | 1.48 |
| Net cash from operating activities | 7.46 | 21.83 | 10.00 | (2.50) | 11.12 | 7.42 | 24.07 |
| Net cash from investing activities | (33.16) | (24.35) | (25.85) | (5.85) | (4.14) | (1.26) | (1.19) |
| Net cash from financing activities | 24.94 | 2.60 | 15.73 | 7.51 | (5.22) | (7.49) | (22.91) |
| Net change in cash | (0.76) | 0.08 | (0.11) | (0.84) | 1.76 | (1.34) | (0.04) |
| Closing cash | 2.26 | 2.91 | 5.93 | 5.46 | 4.90 | 2.72 | 5.64 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | -0.5% | -0.4% | -10.9% | +7.9% | +36.4% | -10.0% | - |
| EBITDA growth | +20.4% | +67.8% | +56.5% | -52.6% | +54.7% | +43.5% | - |
| PBT growth | +23.8% | +106.8% | +338.3% | -68.2% | +9998.0% | +74.5% | - |
| Net income growth | +11.3% | +86.9% | +2052.2% | -107.8% | +323.5% | +80.9% | - |
| Revenue CAGR (3Y) | -4.1% | -1.5% | +9.4% | +9.8% | -4.9% | -11.2% | -4.0% |
| EBITDA CAGR (3Y) | +46.8% | +7.6% | +4.7% | +1.7% | -10.2% | -17.5% | -17.3% |
| Profitability & leverage | |||||||
| Net income margin | +4.0% | +3.5% | +1.9% | -0.1% | +1.3% | -1.0% | -3.4% |
| Return on capital employed | +11.6% | +11.7% | +8.4% | +3.6% | +5.7% | +0.9% | -1.8% |
| Return on net worth | +10.1% | +9.7% | +5.7% | -0.2% | +3.1% | -1.3% | -6.5% |
| Debt / equity | 0.96 | 0.77 | 0.62 | 0.36 | 0.26 | 0.29 | 0.37 |
| Long-term debt / equity | 0.25 | 0.18 | 0.13 | 0.01 | 0.00 | 0.01 | 0.04 |
| Interest cover | 41.54 | 45.80 | 77.33 | -144.02 | 57.35 | -373.33 | -97.99 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 0.75 | 0.80 | 1.16 | 2.29 | 2.16 | 1.55 | 1.71 |
| Inventory turnover | 5.06 | 4.16 | 4.58 | 5.53 | 5.26 | 4.25 | 4.55 |
| Debtors turnover | 2.56 | 3.31 | 3.46 | 3.60 | 3.53 | 2.93 | 3.05 |
| EPS (₹) | 25.60 | 22.85 | 12.50 | (0.50) | 8.61 | (4.84) | (19.03) |
| Dividend per share (₹) | 4.00 | 4.00 | 3.00 | 3.00 | 3.00 | 1.50 | 1.00 |
| Book value per share (₹) | 262.56 | 246.46 | 225.36 | 213.53 | 282.88 | 275.33 | 280.63 |
Similar companies to Kalyani Forge
Kalyani Forge has 3 listed similar companies in our database. They include Maini Precision Products, Ramkrishna Forgings and Bharat Forge.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| mainiprecisionproducts.com | 1973 | Bengaluru, India | 1,445 | Manufacturer & supplier of precision products and assemblies | ||
| ramkrishnaforgings.com | 1981 | Kolkata, India | 2,653 | Ramkrishna Forgings is engaged in metal forming and manufacturing. | ||
| bharatforge.com | 1961 | Pune, India | 4,132 | Technology-enabled automotive tools, forging, and machining materials are manufactured. |
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Top companies in Metals & Minerals
3 companies that operate in the same segment as Kalyani Forge (Metals & Minerals) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Manufacturer of pipes, plates & coils, and home textile products | 1985 | Mumbai, Maharashtra, India | USD 544.74 M | 6,934 | ||
Chemical and casting products are manufactured, with shipping operations managed. | 1962 | Chennai, Tamil Nadu, India | USD 576.61 M | USD 1.43 B | 180 | |
Diversified operations span automotive, agriculture, and financial services. | 1945 | Mumbai, Maharashtra, India | USD 45.15 M | USD 20.78 B | 78,760 |
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Frequently Asked Questions about Kalyani Forge
Kalyani Forge was founded in 1979.
Kalyani Forge is headquartered in Pune, India. It is registered at Pune, Maharashtra, India.
The primary company behind Kalyani Forge, Kalyani Forge Limited, reported revenue of ₹238 Cr for FY 2026, down 1% year on year.
Kalyani Forge Ltd., based in Pune, India, is a certified engineering company focused on metal forming and forging technologies. They produce forged, machined, and assembled products for industries including automotive, construction, power generation, marine, railways, and general industrial sectors. With capabilities in hot, warm, and cold forging, along with heat treatment and precision machining, they serve global customers through reliable supply chains and quality standards.
Kalyani Forge's top competitors include Bharat Forge, Maini Precision Products and Ramkrishna Forgings.
Kalyani Forge offers Hot Forging, Cold and Warm Forging, Precision Machining, and Heat Treatment.
Yes, Kalyani Forge is publicly traded on NSE under the ticker symbol KALYANIFRG.
Kalyani Forge operates through Kalyani Forge Limited.
The legal entities of Kalyani Forge currently have 7 directors, including Rohini Gaurishankar Kalyani, Gaurishankar Neelkanth Kalyani, Viraj Gaurishankar Kalyani and others.