Maiden Forgings Limited - metal & minerals in Delhi, India. FY 2026 financials & compliance.
CIN L29810DL2005PLC132913 Incorporated 11 February 2005 ROC Delhi HQ Delhi, India
Active Listed - BSE: 543874 Public Limited Company metal and minerals MSME · Medium
Data last updated
Market Cap
₹134 Cr
MAIDEN · BSE
Share Price
₹93.50
-0.53% today
Revenue
₹232 Cr
FY 2025-26 · +8.8% YoY
EBITDA
₹14.87 Cr
Margin 6.4%
Net Profit
₹5.05 Cr
FY 2025-26 · -16.4% YoY
P/E (TTM)
26.4x
P/B 1.7x
ROE
6.4%
ROCE 9.2%
Debt / Equity
0.88
Interest cover 59.6x

About Maiden Forgings Limited

Data last updated:

Maiden Forgings Limited is a public limited company based in Delhi, India. It operates in the metalworking segment of the metals and mining sector. It was incorporated on 11 February 2005 and has been in existence for over 21 years.

The company is registered with the Registrar of Companies (ROC), Delhi, under CIN L29810DL2005PLC132913. Its GSTIN is 09AAECM1658H1ZC (Uttar Pradesh). The company holds 2 GST registrations, of which 1 is active. It is a listed company as per MCA records. Its shares are listed on BSE: 543874.

The company has an authorised share capital of ₹20 Cr and a paid-up capital of ₹14.21 Cr. It is led by directors including Nishant Garg (Managing Director) and Nivedita Garg (Whole-Time Director).

Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at B – 5 Arihant Tower Block D Market Vivek Vihar, Delhi, India – 110092.

As per the latest standalone financials for FY 2025-26, the company reported a revenue of ₹231.61 Cr, a growth of 8.8% compared to the previous year. For the same year it recorded a net profit of ₹5.05 Cr (net margin 2.2%) and EBITDA of ₹14.87 Cr (EBITDA margin 6.4%). The net worth stands at ₹81.13 Cr (up 6.1% YoY). Total assets are valued at ₹150.71 Cr (up 3.3% YoY).

The company has about 31 employees on its provident fund (EPFO) records.

The company is associated with 1 brand: Maiden Forgings. As per MCA filings, the company has open charges of ₹78 Cr and satisfied charges of ₹206.19 Cr on record. Court records list 1 case involving the company, including 1 filed by the company; 1 case is pending. The company has 22 deals on record (11 market trades, 4 funding rounds, 3 rights issues), with disclosed funding of ₹11.31 Cr; the latest was in November 2025. Its 6 peer companies in the Machinery and Equipment industry (Cables and Wires, Tools and Components), with the same principal business activity (metal and metal products) are compared by revenue, 3 larger and 3 smaller; the largest is Nexo Industries Private Limited with revenue of ₹217.06 Cr.

Maiden Forgings Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-UP-29-0007090). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website maidenforgings.in.

Company details

CIN L29810DL2005PLC132913
Registration Number 132913
Incorporation Date 11 February 2005
ROC Delhi
Listing Status Listed - Listed on BSE (543874)
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2026
Compliance Status Active Compliant
MSME Classification Medium
Udyam Registration UDYAM-UP-29-0007090

CIN history

Maiden Forgings has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L29810DL2005PLC132913, which is the unique identifier assigned by the Registrar of Companies.

CINStatus
L29810DL2005PLC132913Current
U29810DL2005PTC132913Previous
U29810DL2005PLC132913Previous

Recognitions & Rankings of Maiden Forgings

MSME (Udyam registered) Ministry of MSME
Category
Medium (2023-24)
Udyam number
UDYAM-UP-29-0007090

Contact details

Maiden Forgings Limited's registered office is in Delhi, Delhi.

  • Registered Address
    B – 5 Arihant Tower Block D Market Vivek Vihar, Delhi, India – 110092
  • Industry
    Metal & Minerals, Metalworking
Comprehensive company report
Maiden Forgings Limited - one report that includes everything
  • Company details, directors and signatories
  • Historical financials and ratios
  • Shareholding pattern and group structure
  • Charges with holder and property details
  • Legal cases, compliance and MCA filings
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Brands

Maiden Forgings operates one associated brand: Maiden Forgings. Each brand links to its own profile.

BrandDescriptionWebsite
Manufacturer of steel bright bars, wires, and forgingsmaidenforgings.in

Business activity

The main business activity of Maiden Forgings is manufacturing. In detail, this covers metal and metal products.

Main activity group codeMain activityBusiness activity codeBusiness activityShare of turnover
CManufacturingC7Metal and metal products

To see the full business activity and turnover split of Maiden Forgings Limited, buy the company report.

Financials of Maiden Forgings Limited

FY 2025-26 filings available

Maiden Forgings Limited reported revenue of ₹231.61 Cr (up 8.8% YoY) for FY 2025-26.

Financial Highlights

FY 2025-26 · Standalone
Revenue
₹232 Cr
+8.8% YoY
EBITDA
₹14.87 Cr
-22.7% YoY
Profit After Tax
₹5.05 Cr
-16.4% YoY
Net Worth
₹81.13 Cr
+6.1% YoY
Total Assets
₹151 Cr
+3.3% YoY
Total Debt
₹69.31 Cr
+0.0% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue232213236221211199204
Revenue growth+8.8%-9.8%+6.9%+4.9%+5.7%-2.4%-
EBITDA14.8719.2423.0221.9812.2013.3813.15
EBITDA margin+6.4%+9.0%+9.8%+10.0%+5.8%+6.7%+6.4%
Profit before tax6.948.5313.7113.313.022.382.30
Net profit5.056.049.729.612.201.681.65
Net profit margin+2.2%+2.8%+4.1%+4.4%+1.1%+0.8%+0.8%
EPS (₹)3.534.266.849.214.203.243.57
Balance sheet
Total assets15114613410892.9189.8284.62
Net worth81.1376.4770.9640.7231.2028.9921.37
Total debt69.3169.3062.6767.5461.7060.8163.22
Cash & bank2.162.652.483.193.003.632.12
Net working capital10910597.6774.3464.4460.4051.88
Cash flow
Cash from operations6.224.52(11.99)11.492.57(0.43)2.64
Cash from investing(3.91)(9.03)(7.29)(9.21)(2.33)(0.41)(2.80)
Cash from financing(2.80)4.6918.57(2.09)(0.87)2.34(0.53)
ParticularsMar 2023Dec 2022
Revenue57.3055.06
Other income0.040.10
Total expenses52.6447.66
EBITDA4.667.40
EBITDA margin+8.1%+13.4%
Depreciation1.160.81
Interest1.361.30
Profit before tax2.185.39
Tax0.591.50

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 28 Oct 2026
ParticularsMar 2023Dec 2022
Revenue57.3055.06
Other income0.040.10
Total expenses52.6447.66
EBITDA4.667.40
EBITDA margin+8.1%+13.4%
Depreciation1.160.81
Interest1.361.30
Profit before tax2.185.39
Tax0.591.50
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue232213236221211199204
Revenue growth+8.8%-9.8%+6.9%+4.9%+5.7%-2.4%-
Other income2.350.661.210.330.330.140.28
Total expenses217194213199198186191
Employee cost3.092.952.993.131.811.681.48
EBITDA14.8719.2423.0221.9812.2013.3813.15
EBITDA margin+6.4%+9.0%+9.8%+10.0%+5.8%+6.7%+6.4%
Depreciation3.504.054.453.523.414.084.39
Interest6.787.326.075.486.107.066.74
Profit before tax6.948.5313.7113.313.022.382.30
Tax1.922.493.993.700.820.700.65
Net profit5.056.049.729.612.201.681.65
Net profit margin+2.2%+2.8%+4.1%+4.4%+1.1%+0.8%+0.8%
EPS (₹)3.534.266.849.214.203.243.57
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital14.2114.2114.2110.435.215.214.65
Reserves & surplus66.9262.2656.7530.2925.9923.7816.72
Shareholders' funds (net worth)81.1376.4770.9640.7231.2028.9921.37
Secured loans61.3561.7553.9659.2753.1256.0152.77
Unsecured loans7.967.558.718.278.584.8010.45
Total debt69.3169.3062.6767.5461.7060.8163.22
Total liabilities15114613410892.9189.8284.62
Assets
Gross block68.8668.7056.9252.3044.0741.7141.31
Net block34.3537.1729.3829.2124.4925.5329.21
Capital work in progress3.530.250.000.000.000.000.00
Investments0.000.000.000.000.000.000.00
Inventories83.1275.8067.6850.3841.4336.5423.81
Sundry debtors39.4229.6922.2624.9927.1533.0630.86
Cash & bank balances2.162.652.483.193.003.632.12
Loans & advances13.7214.2319.5913.779.771.778.78
Total current assets13812211292.3381.3575.0065.57
Total current liabilities29.6917.8414.3417.9916.9114.6013.69
Net working capital10910597.6774.3464.4460.4051.88
Total assets15114613410892.9189.8284.62
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash2.652.483.193.003.632.122.81
Net cash from operating activities6.224.52(11.99)11.492.57(0.43)2.64
Net cash from investing activities(3.91)(9.03)(7.29)(9.21)(2.33)(0.41)(2.80)
Net cash from financing activities(2.80)4.6918.57(2.09)(0.87)2.34(0.53)
Net change in cash(0.49)0.17(0.71)0.18(0.63)1.50(0.68)
Closing cash2.162.652.483.193.003.632.12
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth+8.8%-9.8%+6.9%+4.9%+5.7%-2.4%-
EBITDA growth-22.7%-16.4%+4.7%+80.2%-8.8%+1.8%-
PBT growth-18.6%-37.8%+3.0%+340.7%+26.9%+3.5%+9997.0%
Net income growth-16.4%-37.9%+1.1%+336.8%+31.0%+1.8%-
Revenue CAGR (3Y)+1.6%+0.4%+5.8%+2.7%---
EBITDA CAGR (3Y)-12.2%+16.4%+19.8%+18.7%---
Profitability & leverage
Net income margin+2.2%+2.8%+4.1%+4.4%+1.1%+0.8%+0.8%
Return on capital employed+9.3%+11.3%+16.3%+18.7%+10.0%+10.8%+10.7%
Return on net worth+6.4%+8.2%+17.4%+26.7%+7.3%+6.7%+7.8%
Debt / equity0.880.901.171.802.042.462.96
Long-term debt / equity0.230.240.290.510.680.921.16
Interest cover59.6348.1932.6929.6969.4075.9176.94
Efficiency & per share
Fixed asset turnover3.373.394.324.584.914.804.94
Inventory turnover2.912.974.004.815.406.608.57
Debtors turnover6.708.209.998.476.996.236.61
EPS (₹)3.534.266.849.214.203.243.57
Dividend per share (₹)0.000.000.000.000.000.000.00
Book value per share (₹)57.0953.8149.9339.0459.8555.6045.97

To see the full year-wise statements and ratios of Maiden Forgings Limited, buy the company report.

Board of directors of Maiden Forgings Limited

Maiden Forgings has 5 current directors and 4 former directors. Current directors are listed first, with their designation and appointment date.

Current Directors
NameDesignationAppointment DateTenureStatus
Nishant GargManaging Director28 Nov 20223 Years 11 MonthsCurrent
Nivedita GargWhole-Time Director28 Nov 20223 Years 11 MonthsCurrent
Raj Kumar MittalDirector06 Jan 20233 Years 9 MonthsCurrent
Abhilash RastogiDirector06 Jan 20233 Years 9 MonthsCurrent
Urvi AgarwalDirector06 Jan 20233 Years 9 MonthsCurrent

Peer comparison

Maiden Forgings Limited is compared with the 6 companies closest to it by revenue in the Machinery and Equipment industry (Cables and Wires, Tools and Components), with the same principal business activity (metal and metal products), from the latest filed financials of each company.

CompanyRevenueNet profitMarginGrowth (1 yr)EmployeesLocation
Maiden Forgings Limitedthis company₹231.61 Cr (FY 2026)₹5.05 Cr2.2%8.8%Delhi, India
Nexo Industries Private Limited₹217.06 Cr (FY 2025)5.0%Ludhiana, Punjab, India
Forbes & Company Limited₹215.57 Cr (FY 2025)46.0%Mumbai, Maharashtra, India
Bhuj Polymers Private Limited₹215.19 Cr (FY 2025)12.0%Delhi, India
Forge Auto International Limited₹212.67 Cr (FY 2025)24.0%Ludhiana, Punjab, India
Agarwal Fastners Pvt Ltd₹210.86 Cr (FY 2025)3.0%Mumbai, Maharashtra, India
Santhom Metacast Private Limited₹210.82 Cr (FY 2025)10.0%Kottayam, Kerala, India

To see the full peer comparison of Maiden Forgings Limited, buy the company report.

Charges & borrowings

Open charges
₹78 Cr
Satisfied charges
₹206.19 Cr
Breakdown by lending institutions
Others₹40.36 Cr
Axis Bank Limited₹31.59 Cr
Sidbi₹4.00 Cr
Tata Capital Financial Services Limited₹2.05 Cr
Latest charge details
DateCharge IDLenderAmountStatusModified or satisfied on
05 Jun 2026101318588Others₹5 CrOpen
26 May 2026101316180Sidbi₹1 CrOpen
30 May 2025101106282Others₹7 CrOpen
26 Sep 2024100980173Others₹28.36 CrOpen
25 Apr 2024100917517Axis Bank Limited₹31.59 CrOpen

To see the full charge records of Maiden Forgings Limited, buy the company report.

Total charge records: 34 View all charges

Deals & funding

Maiden Forgings Limited has 22 deals on record (11 market trades, 4 funding rounds, 3 rights issues), with disclosed funding of ₹11.31 Cr; the latest was in November 2025.

Total deals
22
Market trades
11
Funding rounds
4
Rights issues
3
Secondary share transfers
3
Disclosed funding
₹11.31 Cr

Deals on record (5 of 22)

WhenDealAmountParties
Nov 2025Market trade₹1.21 CrBuyer: Mukesh Sharma Family Trust
Jun 2023Market trade₹1.84 CrBuyer: Ajiam Capital Private Limited
Seller: Ajiam Capital Private Limited , an individual
Jun 2023Market trade₹6.05 CrBuyer: Dues Manager Private Limited , 2 individuals
Seller: Dues Manager Private Limited , Rajasthan Global Securities Private Limited , 2 individuals
Apr 2023Market trade₹1.65 CrBuyer: Eastend Infrastructure Private Limited
May 2006Secondary share transferUndisclosedBuyer: 3 individuals
Seller: All Times Yours Securities (P) Limited, Junoon Capital Services Private Limited , Bhagwan Krishnan Investment & Trading Co (P) Limited

To see the full deal history of Maiden Forgings Limited, buy the company report.

Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.

MSME payment delays

No delayed payments to MSME suppliers are on our record for Maiden Forgings Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.

GST

Maiden Forgings has 2 GST registrations: 1 active and 1 cancelled or inactive.

Total GSTINs
2
Active
1
Cancelled / inactive
1
GSTINStateStatusRegistered on
09AAECM1658H1ZCUttar PradeshActive01 Jul 2017

To see the full GST registrations and return filing status of Maiden Forgings Limited, buy the company report.

Recent activity

Maiden Forgings Limited has 8 board changes on record since 2010: 6 appointments and 2 cessations. The latest: Abhilash Rastogi was appointed as Director on 06 Jan 2023.

Charges
A charge with Others of Rs. 7.00 Cr registered on 30 May 2025 with Charge ID 101106282 was modified on 28 Jul 2026.
Charges
A charge with Others amounted to Rs. 5.00 Cr with Charge ID 101318588 was registered on 05 Jun 2026.
Charges
A charge with Sidbi amounted to Rs. 1.00 Cr with Charge ID 101316180 was registered on 26 May 2026.
Filing
Maiden Forgings Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Delhi I.
AGM
Maiden Forgings Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Charges
A charge registered on 12 Feb 2016 via Charge ID 100019263 with State Bank Of India was fully satisfied on 04 Jun 2025.
Charges
A charge with Others amounted to Rs. 7.00 Cr with Charge ID 101106282 was registered on 30 May 2025.
Charges
A charge with Others of Rs. 28.36 Cr registered on 26 Sep 2024 with Charge ID 100980173 was modified on 01 Jan 2025.
Charges
A charge registered on 01 Dec 2020 via Charge ID 100442482 with Hdfc Bank Limited was fully satisfied on 07 Dec 2024.
Charges
A charge registered on 21 Jul 2022 via Charge ID 100625826 with Yes Bank Limited was fully satisfied on 21 Oct 2024.
Charges
A charge with Others amounted to Rs. 28.36 Cr with Charge ID 100980173 was registered on 26 Sep 2024.
Charges
A charge registered on 28 Aug 2020 via Charge ID 100382313 with Others was fully satisfied on 16 Sep 2024.

65 earlier events are in the company report.

Frequently asked questions

Maiden Forgings is an active public limited company based in Delhi, India. The company works in metalworking, within the metal and minerals industry. It was incorporated on 11 February 2005 (21+ years old) and is registered under CIN L29810DL2005PLC132913. Listed on BSE: 543874.

Maiden Forgings reported revenue of ₹231.61 Cr for FY 2025-26 (up 8.8% YoY) based on standalone financials.

Maiden Forgings has 5 current directors:

The latest financial statements of Maiden Forgings on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.

The GSTIN of Maiden Forgings is 09AAECM1658H1ZC, registered in Uttar Pradesh. The company has 2 GST registrations in all, of which 1 is active and 1 is cancelled or inactive.

The CIN (Corporate Identification Number) of Maiden Forgings is L29810DL2005PLC132913. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.

Yes. Maiden Forgings is a listed company as per MCA records. Its shares are listed on BSE (code: 543874).

Maiden Forgings has 1 court case on record: 1 filed by the company. 1 is pending.

Maiden Forgings was incorporated on 11 February 2005, making it 21+ years old. It is registered with the Registrar of Companies, Delhi.

Maiden Forgings has 22 deals on record (11 market trades, 4 funding rounds, 3 rights issues), with disclosed funding of ₹11.31 Cr; the latest was in November 2025.

The peers of Maiden Forgings by revenue are Nexo Industries Private Limited, Forbes & Company Limited, Bhuj Polymers Private Limited, Forge Auto International Limited, Agarwal Fastners Pvt Ltd and 1 more, all in the Machinery and Equipment industry (Cables and Wires, Tools and Components), with the same principal business activity (metal and metal products).