Amic Forging reported a 16.86% revenue increase to Rs 141.78 crore for FY26, though Profit After Tax fell 20.47% to Rs 28.28 crore. The board has skipped dividends to prioritize reinvestment. Key management changes include a search for a new CFO following the departure of its previous finance heads, alongside a proposal to triple executive remuneration for leadership.
Amic Forging Reports FY26 Financials and Executive Pay Hike
Revenue from operations reached Rs 141.78 crore, while Profit After Tax stood at Rs 28.28 crore for FY26.
Reader Takeaway: Revenue growth highlights market scale, but rising costs and leadership turnover warrant cautious investor monitoring.
What just happened
Amic Forging has released its annual financial results for FY26, showing a revenue increase of 16.86% to Rs 141.78 crore, compared to Rs 121.32 crore in the previous year. However, profitability saw a contraction, with Profit Before Tax falling 12.55% to Rs 39.73 crore and Profit After Tax dropping 20.47% to Rs 28.28 crore. The board has opted not to recommend a dividend for the year, citing a strategic focus on reinvesting earnings into business operations.
Management and Governance
The company has proposed a significant hike in the monthly salary for Managing Director G. L. Chamaria and Whole-time Director Anshul Chamaria, seeking to increase their remuneration from Rs 5 lakh to Rs 15 lakh per month. This proposal is subject to shareholder approval. The company is currently experiencing turnover in its finance department; after the resignation of Anshul Chamaria as CFO in late 2025 and the subsequent departure of Priyankar Ghosh, the company is actively searching for a new CFO.
Preferential Allotment
During the fiscal year, Amic Forging completed a preferential issue of 65,000 warrants and 2,60,425 shares at Rs 1,536 each, raising Rs 49.99 crore. Following the year-end, the company received further approvals for the issuance of 14,22,900 convertible warrants and 26,200 equity shares, sanctioned by shareholders on June 5, 2026.
Risks and Outlook
Management points to volatility in raw material and steel prices as a key headwind, compounded by rising energy costs and global uncertainty. The company is leaning on technology adoption and backward integration strategies to manage cost competitiveness. Investors should continue to monitor the stabilization of the finance leadership team and the impact of the proposed executive pay hike on future bottom-line margins.