Incorporated in 2006, LGB Forge Ltd manufactures Forged and Machined Components[1]
Business Overview:[1]LGBFL is a part of the Coimbatore-based LGB Group which holds 73.82% stake in the company. It manufactures forged (hot, warm and cold forgings) and machined components. Company is a tier-II ancillary supplier to tier-I auto component suppliers in domestic and export markets, including segments of PV, LCV and tractor
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Samvardh. Mothe. | 119.35 | 37.62 | 125998.56 | 0.47 | 845.63 | -3.25 | 30172.97 | 8.49 | 13.66 | 117367.72 | 8.86 | 3348.88 | 851.18 | 3.39 | 4.60 | 0.53 |
| 2. | Bosch | 39145.00 | 50.82 | 115447.07 | 1.31 | 554.20 | 10.82 | 4794.80 | 9.11 | 21.11 | 18959.70 | 13.11 | 2271.53 | 554.20 | 8.23 | 10.70 | 0.01 |
| 3. | Uno Minda | 1318.20 | 69.59 | 76098.62 | 0.17 | 322.79 | 27.14 | 4814.03 | 13.41 | 18.83 | 18015.43 | 11.54 | 1093.46 | 303.99 | 12.21 | 9.36 | 0.46 |
| 4. | Bharat Forge | 1483.40 | 65.64 | 70955.75 | 0.57 | 299.28 | 22.83 | 4031.93 | 9.31 | 12.18 | 15268.83 | 17.66 | 1080.93 | 299.20 | 7.58 | 4.72 | 0.71 |
| 5. | Schaeffler India | 3800.20 | 53.23 | 59491.23 | 0.74 | 306.65 | 24.08 | 2360.14 | 13.86 | 25.67 | 8834.57 | 18.98 | 1117.62 | 306.65 | 10.79 | 14.85 | 0.01 |
| 6. | Tube Investments | 2527.40 | 78.04 | 48916.26 | 0.14 | 302.05 | -9.73 | 5522.64 | 12.15 | 21.80 | 20793.88 | 9.22 | 626.78 | 186.66 | 6.50 | 7.33 | 0.09 |
| 7. | Endurance Tech. | 2599.30 | 41.85 | 36565.34 | 0.38 | 227.27 | 11.97 | 3582.82 | 23.01 | 17.26 | 12724.36 | 13.48 | 873.65 | 227.27 | 5.84 | 9.21 | 0.20 |
| 8. | LGB Forge | 7.78 | – | 185.32 | 0.00 | -0.73 | 17.05 | 26.03 | 11.33 | -1.79 | 101.80 | 3.44 | -0.68 | -0.73 | 10.05 | -4.95 | 1.40 |
| – | Median: 126 Co. | 467.85 | 29.56 | 1295.3 | 0.37 | 12.47 | 10.82 | 212.47 | 11.11 | 14.73 | 825.68 | 12.04 | 38.48 | 10.76 | 3.09 | 6.48 | 0.39 |
Standalone figures in ₹ crores
| Dec 2022 | Dec 2023 | Dec 2024 | Jun 2023 | Jun 2024 | Jun 2025 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 26.00 | 22.99 | 24.20 | 22.71 | 22.53 | 27.64 | 26.64 | 19.81 | 23.93 | 29.80 | 28.78 | 23.38 | 26.03 |
Expenses | 28.96 | 22.50 | 23.64 | 23.20 | 22.94 | 25.97 | 25.69 | 21.00 | 23.10 | 31.34 | 28.66 | 23.04 | 25.59 |
Operating Profit | -2.96 | 0.49 | 0.56 | -0.49 | -0.41 | 1.67 | 0.95 | -1.19 | 0.83 | -1.54 | 0.12 | 0.34 | 0.44 |
Other Income | 0.28 | -1.18 | 0.30 | -0.78 | 2.23 | 0.82 | -1.26 | -0.72 | 0.32 | 0.55 | 0.27 | 0.02 | 0.38 |
Profit before tax | -4.38 | -2.23 | -0.43 | -2.68 | 0.48 | 0.88 | -1.66 | -3.22 | -0.40 | -2.50 | -1.73 | -0.88 | -0.73 |
Tax % | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% |
Net Profit | -4.38 | -2.23 | -0.43 | -2.68 | 0.48 | 0.88 | -1.66 | -3.22 | -0.40 | -2.51 | -1.74 | -0.88 | -0.73 |
EPS in Rs | -0.18 | -0.09 | -0.02 | -0.11 | 0.02 | 0.04 | -0.07 | -0.14 | -0.02 | -0.11 | -0.07 | -0.04 | -0.03 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 87 | 80 | 88 | 83 | 100 | 132 | 101 | 92 | 130 | 92 | 89 | 94 | 102 |
Expenses | 80 | 76 | 86 | 84 | 98 | 123 | 95 | 83 | 120 | 96 | 89 | 93 | 98 |
Operating Profit | 7 | 4 | 2 | -1 | 2 | 9 | 6 | 9 | 10 | -4 | 0 | 1 | 4 |
Other Income | 11 | 4 | 3 | 4 | 0 | 1 | 1 | 1 | 1 | 1 | -4 | 3 | 2 |
Interest | 6 | 5 | 4 | 3 | 3 | 5 | 3 | 2 | 2 | 3 | 4 | 3 | 3 |
Depreciation | 8 | 4 | 4 | 2 | 2 | 3 | 4 | 5 | 5 | 3 | 3 | 3 | 3 |
Profit before tax | 3 | -0 | -2 | -2 | -3 | 2 | -1 | 3 | 3 | -9 | -10 | -1 | -1 |
Net Profit | 3 | -0 | -2 | -2 | -3 | 2 | -1 | 3 | 3 | -9 | -10 | -1 | -1 |
EPS in Rs | 0.13 | -0.01 | -0.10 | -0.09 | -0.13 | 0.09 | -0.03 | 0.14 | 0.14 | -0.39 | -0.41 | -0.05 | -0.03 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 15 | 15 | 15 | 15 | 15 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 |
Reserves | -2 | -4 | -6 | -8 | -12 | 8 | 8 | 12 | 16 | 6 | -4 | -6 | -5 |
Borrowings | 36 | 32 | 23 | 18 | 17 | 11 | 15 | 13 | 13 | 27 | 30 | 27 | 26 |
Other Liabilities | 15 | 21 | 24 | 22 | 27 | 39 | 24 | 32 | 32 | 28 | 29 | 18 | 24 |
Total Liabilities | 64 | 65 | 56 | 46 | 47 | 82 | 71 | 80 | 85 | 85 | 79 | 63 | 68 |
Fixed Assets | 19 | 15 | 12 | 9 | 12 | 25 | 27 | 24 | 20 | 18 | 12 | 17 | 16 |
Gross Block | 83.92 | 77.17 | 76.85 | 10.73 | 16.46 | 32.04 | 38.40 | 38.05 | 37.74 | 40.00 | 27.96 | 25.80 | – |
Accumulated Depreciation | 64.51 | 62.45 | 65.19 | 1.97 | 3.98 | 7.10 | 11.28 | 13.88 | 17.60 | 22.39 | 15.88 | 8.43 | – |
CWIP | -0 | -0 | -0 | -0 | 0 | 0 | 0 | 0 | 0 | -0 | -0 | -0 | 0 |
Investments | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
Other Assets | 44 | 50 | 44 | 37 | 34 | 57 | 44 | 56 | 65 | 68 | 67 | 45 | 52 |
Total Assets | 64 | 65 | 56 | 46 | 47 | 82 | 71 | 80 | 85 | 85 | 79 | 63 | 68 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 18 | 5 | 2 | 4 | 11 | -0 | 5 | 4 | 2 | -9 | 4 | 16 |
Cash from Investing Activity | 5 | 3 | 2 | 4 | -6 | -15 | -3 | -2 | -0 | -2 | -2 | -3 |
Cash from Financing Activity | -23 | -8 | -4 | -8 | -5 | 16 | -2 | -2 | -2 | 11 | -1 | -13 |
Net Cash Flow | -0 | 0 | -0 | -0 | -0 | 0 | 0 | -0 | -0 | -0 | -0 | -0 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 101 | 144 | 113 | 69 | 66 | 71 | 77 | 135 | 98 | 136 | 128 | 97 |
Inventory Days | 150 | 155 | 124 | 172 | 88 | 137 | 140 | 165 | 145 | 235 | 249 | 144 |
Days Payable | 97 | 166 | 151 | 141 | 135 | 183 | 150 | 231 | 147 | 173 | 193 | 78 |
Cash Conversion Cycle | 154 | 133 | 85 | 99 | 20 | 25 | 67 | 68 | 96 | 199 | 184 | 163 |
Working Capital Days | 41 | 14 | 20 | 16 | -14 | 27 | 29 | 50 | 54 | 59 | 70 | 66 |
ROCE % | 1% | 3% | -1% | -11% | -1% | 22% | 5% | 11% | 12% | -11% | -4% | -2% |
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Stock Analysis
LGB Forge Ltd manufactures forged and machined components for the automotive sector, serving as a tier-II supplier to tier-I players in domestic and export markets.
Recent Q2 FY26 results showed a decline in revenue and a net loss, though H1 FY26 demonstrated a turnaround to profitability. Specific growth drivers or forward-looking guidance are not detailed in the latest announcements.
Currently no data available for Order Book.
The company reported a net loss in the recent quarter (Q2 FY26) and a YoY revenue decline. Historical financial data indicates challenges with consistent profitability and a high debt-to-equity ratio (1.40 as of Mar 2025). ROCE and ROE have been negative.
Corporate Announcements
