Overview

Detailed Summary

Ganga Forging Limited is a manufacturer in the forging industry, producing closed die forged products for automotive and non-automotive sectors, including electric power transmission and heavy engineering.
The company was founded in 1988 and became a public limited company in 2017, signaling its growth and commitment towards expansion.
Although the company does not market products under its own brand name, it maintains high-quality standards, being ISO 9001:2008 certified, ensuring compliance with statutory and regulatory requirements.
Ganga Forging has an in-house testing laboratory for stringent quality checks of raw materials and finished products, meeting customer specifications.
In 2018, the company conducted a public issue of equity shares, raising significant capital, illustrating strategic financial growth and expansion.

Sector: Castings, Forgings & Fastners
Industry: Forgings - Medium / Small
Market Cap: 39 Cr
Volatility: Low Risk
P/E Ratio: -11.6
Industry P/E: 22.9
PEG Ratio: —
P/B Ratio: 1.4
52W High: 5.94
52W Low: 2.70

Sales CAGR

1Y: 16.15%
3Y: 14.45%
5Y: 12.81%
10Y: 8.55%

Profit CAGR

1Y: 38.64%
3Y: -16.00%
5Y: —
10Y: 11.26%

ROE

TTM: -12.35%
3Y: 3.53%
5Y: 4.03%
10Y: 2.45%

ROCE

TTM: -5.53%
3Y: 5.56%
5Y: 7.06%
10Y: 6.95%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
HILTON	17.44	91 Cr	7.11	0.51	0.00	5.85	7.18	3.34
GALAGEX	42.90	70 Cr	53.62	1.36	0.00	-10.86	-10.83	88.16
SMFIL	5.79	59 Cr	52.64	11.25	0.00	6.10	6.82	4.58
PSFL	28.90	57 Cr	11.25	1.09	0.00	9.33	11.27	4.53
GANGAFORGE	2.91	39 Cr	-11.64	1.35	0.00	-12.35	-5.53	-5.64
ELFORGE	14.81	30 Cr	-2.84	1.16	0.00	6.74	7.34	4.22
SHIVAGR	27.50	14 Cr	28.95	1.72	0.00	5.22	6.92	1.81

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	8.57	8.55	10	8.51	12	12	12	7.75	8.27	8.88
Expenses	8.03	7.90	9.44	7.91	11	11	11	7.81	11	8.48
Operating Profit	0.54	0.65	0.80	0.60	0.59	0.50	0.59	-0.06	-2.35	0.40
OPM %	6.30	7.60	7.81	7.05	5.13	4.28	5.12	-0.77	-28.42	4.50
Other Income	0.03	0.01	0.07	0.19	0.15	0.31	-0.01	0.37	0.01	0.12
Interest	0.18	0.22	0.29	0.29	0.23	0.22	0.22	0.23	0.23	0.19
Depreciation	0.22	0.22	0.34	0.25	0.27	0.27	0.29	0.27	0.28	0.28
Profit Before Tax	0.17	0.21	0.24	0.25	0.24	0.31	0.06	-0.20	-2.84	0.05
Tax %	-29.41	-9.52	108.33	-20.00	-12.50	12.90	366.67	-45.00	-3.52	20.00
Net Profit	0.22	0.23	-0.02	0.29	0.28	0.27	-0.15	-0.29	-2.94	0.04
EPS in Rs	0.02	0.02	0.00	0.02	0.02	0.02	-0.01	-0.02	-0.22	0.00

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	21	25	28	24	23	29	33	37	43	42
Expenses	17	23	26	24	21	26	31	35	41	41
Operating Profit	3.85	1.98	2.34	-0.76	1.70	2.54	1.99	2.50	2.26	1.62
OPM %	18.34	7.94	8.41	-3.20	7.40	8.81	5.96	6.71	5.22	3.82
Other Income	0.01	0.03	0.17	0.10	0.10	1.26	0.57	0.10	0.64	0.82
Interest	0.59	0.79	1.12	1.27	0.79	0.95	0.81	0.85	0.96	0.90
Depreciation	0.45	0.50	0.74	0.88	0.87	0.88	0.88	1.00	1.07	1.10
Profit Before Tax	0.56	0.72	0.66	-2.80	0.13	1.97	0.88	0.75	0.87	0.41
Tax %	36.00	35.31	21.14	24.51	-88.19	47.58	-87.99	41.20	29.16	73.17
Net Profit	0.36	0.46	0.52	-2.12	0.25	1.03	1.66	0.44	0.61	0.11
EPS in Rs	—	—	—	—	0.09	0.07	0.12	0.04	0.05	-0.25
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0.35	0.35	5.57	7.95	7.95	11	11	11	13	13
Reserves	3.01	3.36	3.02	6.17	4.05	0.12	1.05	2.74	18	19
Borrowings	4.94	6.40	6.78	12	11	11	12	14	9.99	17
Other Liabilities	5.18	5.06	9.80	9.29	9.84	9.70	7.72	7.10	4.91	9.91
Total Liabilities	13	15	25	35	33	31	31	35	46	59
Fixed Assets	5.03	6.13	9.34	16	15	15	14	16	16	18
CWIP	0.00	0.00	0.00	0.00	0.36	0.00	2.21	0.75	0.00	0.39
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	8.45	9.05	16	19	18	16	15	18	30	40
Total Assets	13	15	25	35	33	31	31	35	46	59

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-1.83	2.35	1.98	1.33	-1.09	-11	-4.11
Cash from Investing Activity	-6.91	-0.60	-0.03	-1.69	-0.56	-1.16	-2.21
Cash from Financing Activity	8.81	-1.76	-1.83	0.19	1.81	12	5.79
Net Cash Flow	0.07	-0.02	0.12	-0.17	0.17	0.68	-0.53

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Jun 2023	Sep 2023	Dec 2023	Feb 2024	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	59.53%	59.35%	43.52%	39.02%	40.82%	40.63%	40.11%	39.21%	39.21%	39.21%	39.21%	35.51%
FIIs	0.00%	0.00%	0.00%	0.06%	0.04%	0.00%	0.00%	3.71%	3.71%	2.60%	2.23%	0.00%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	40.47%	40.65%	56.48%	60.92%	59.14%	59.26%	59.89%	57.08%	57.08%	58.19%	58.57%	64.49%
Total Shareholders	29,381	26,696	34,384	48,016	47,335	46,328	46,600	47,983	48,512	48,963	49,237	49,815

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Frequently Asked Questions about Ganga Forging Ltd

Ganga Forging Ltd (GANGAFORGE) is currently trading at 2.79 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.

Ganga Forging Limited is a manufacturer in the forging industry, producing closed die forged products for automotive and non-automotive sectors, including electric power transmission and heavy engineering. The company was founded in 1988 and became a public limited company in 2017, signaling its growth and commitment towards expansion. Although the company does not market products under its own brand name, it maintains high-quality standards, being ISO 9001:2008 certified, ensuring compliance with statutory and regulatory requirements. Ganga Forging has an in-house testing laboratory for stringent quality checks of raw materials and finished products, meeting customer specifications. In 2018, the company conducted a public issue of equity shares, raising significant capital, illustrating strategic financial growth and expansion.

Over the past 52 weeks, Ganga Forging Ltd has traded between a low of ₹2.70 and a high of ₹5.94. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.

Ganga Forging Ltd has a market capitalization of approximately 39.23. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.

Ganga Forging Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of -11.64 and operates in the Castings, Forgings & Fastners sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.

Based on its market capitalization of 39.23 Cr, Ganga Forging Ltd is classified as a Small Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.

Ganga Forging Ltd operates in the Castings, Forgings & Fastners sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.

The Price-to-Earnings (PE) ratio of Ganga Forging Ltd is -11.64. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.

Ganga Forging Ltd

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Standalone Quarterly Results (in ₹ Crores)

Standalone Profit Loss (in ₹ Crores)

Standalone Balance Sheet (in ₹ Crores)

Standalone Cash Flows (in ₹ Crores)

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Frequently Asked Questions about Ganga Forging Ltd

What is Ganga Forging Ltd share price today?

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What is the 52-week high and low of Ganga Forging Ltd?

What is the market capitalization of Ganga Forging Ltd?

Should I consider investing in Ganga Forging Ltd stock?

Is Ganga Forging Ltd a large-cap, mid-cap, or small-cap stock?

Which sector does Ganga Forging Ltd belong to and why does it matter?

What is the PE ratio of Ganga Forging Ltd?

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