Ganga Forging Ltd

GANGAFORGE

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Market Cap

₹ 40 Cr

P/E

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Investment Checklist

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Performance

UNDER PERFORMER

Valuation

UNDERVALUED

Growth

SLUGGISH

Profitability

LOW MARGIN

Technicals

Bearish

Risk

MODERATE RISK

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Price

PE Ratio

Price

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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

40 Cr

Volatility

Moderate Risk

P/E Ratio

—

Industry P/E

25.2

PEG Ratio

—

P/B Ratio

1.4

52W High

7.80

52W Low

2.70

Sales CAGR

16.15%

14.45%

12.81%

10Y

8.55%

Profit CAGR

38.64%

-16.00%

—

10Y

11.26%

ROE

TTM

-12.35%

3.53%

4.03%

10Y

2.45%

ROCE

TTM

-5.53%

5.56%

7.06%

10Y

6.95%

Technicals

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Bearish

Neutral

Bullish

Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
PSFL	29.20	57 Cr	12.86	1.11	0.00	9.33	11.27	4.53
SMFIL	4.96	50 Cr	41.17	9.60	0.00	6.10	6.82	5.12
GANGAFORGE	3.00	40 Cr	—	1.40	0.00	-12.35	-5.53	-5.25
ELFORGE	13.90	28 Cr	15.62	1.11	0.00	7.07	7.62	4.27
SHIVAGR	29.45	15 Cr	35.06	1.84	0.00	5.22	6.92	1.59
GALAGEX	51.19	14 Cr	—	5.46	0.00	-10.86	-10.83	-7.07
HARIGCRANK	6.19	7 Cr	—	0.00	0.00	13.57	-26.07	-106.69

Financial Statements

AI Powered Summary

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	9.86	8.57	8.55	10	8.51	12	12	12	7.75	8.27
Expenses	9.34	8.03	7.90	9.44	7.91	11	11	11	7.81	11
Operating Profit	0.52	0.54	0.65	0.80	0.60	0.59	0.50	0.59	-0.06	-2.35
OPM %	5.27	6.30	7.60	7.81	7.05	5.13	4.28	5.12	-0.77	-28.42
Other Income	0.00	0.03	0.01	0.07	0.19	0.15	0.31	-0.01	0.37	0.01
Interest	0.16	0.18	0.22	0.29	0.29	0.23	0.22	0.22	0.23	0.23
Depreciation	0.22	0.22	0.22	0.34	0.25	0.27	0.27	0.29	0.27	0.28
Profit Before Tax	0.14	0.17	0.21	0.24	0.25	0.24	0.31	0.06	-0.20	-2.84
Tax %	14.29	-29.41	-9.52	108.33	-20.00	-12.50	12.90	366.67	-45.00	-3.52
Net Profit	0.12	0.22	0.23	-0.02	0.29	0.28	0.27	-0.15	-0.29	-2.94
EPS in Rs	0.01	0.02	0.02	0.00	0.02	0.02	0.02	-0.01	-0.02	-0.22

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	-0.23
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

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Feb 2024	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	59.53%	59.53%	59.35%	43.52%	39.02%	40.82%	40.63%	40.11%	39.21%	39.21%	39.21%	39.21%
FIIs	0.00%	0.00%	0.00%	0.00%	0.06%	0.04%	0.00%	0.00%	3.71%	3.71%	2.60%	2.23%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	40.47%	40.47%	40.65%	56.48%	60.92%	59.14%	59.26%	59.89%	57.08%	57.08%	58.19%	58.57%
Total Shareholders	28,319	29,381	26,696	34,384	48,016	47,335	46,328	46,600	47,983	48,512	48,963	49,237

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Dec 03, 2025	Esaar (india) limited	Bulk	Buy	2.85	0.43 Cr	15,00,000	1.11
Dec 03, 2025	L7 hitech private limited	Bulk	Sell	2.99	0.34 Cr	11,51,126	0.85
Dec 03, 2025	Minerva ventures fund	Bulk	Sell	2.85	0.36 Cr	12,50,000	0.92
Dec 02, 2025	Minerva ventures fund	Bulk	Sell	3.10	0.24 Cr	7,58,885	0.56
Nov 12, 2025	L7 hitech private limited	Bulk	Buy	3.35	0.27 Cr	8,00,000	0.59
Nov 12, 2025	Mahevarsh fincon private limited	Bulk	Buy	3.34	0.33 Cr	10,00,000	0.74
Nov 12, 2025	Mahevarsh fincon private limited	Bulk	Sell	3.35	0.20 Cr	5,87,057	0.43
Nov 12, 2025	Rakesh chhaganlal patel	Bulk	Sell	3.34	0.55 Cr	16,50,000	1.22
Nov 12, 2025	Hiralal mahidas tilva	Bulk	Sell	3.34	0.55 Cr	16,50,000	1.22
Nov 11, 2025	Hiralal mahidas tilva	Bulk	Sell	3.35	0.30 Cr	8,81,949	0.65

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

Financial Results

5 days ago

Ganga Forging Limited Financial Results Update

Ganga Forging Limited submitted a Machine Readable Form/Legible copy of its financial results for the quarter and half year ended September 30, 2025.

Documents

Presentations

Concalls

Reports

Presentations

No documents found!

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Overview

Detailed Summary

The company was founded in 1988 and became a public limited company in 2017, signaling its growth and commitment towards expansion.

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

40 Cr

Volatility

Moderate Risk

P/E Ratio

—

Industry P/E

25.2

PEG Ratio

—

P/B Ratio

1.4

52W High

7.80

52W Low

2.70

Sales CAGR

16.15%

14.45%

12.81%

10Y

8.55%

Profit CAGR

38.64%

-16.00%

—

10Y

11.26%

ROE

TTM

-12.35%

3.53%

4.03%

10Y

2.45%

ROCE

TTM

-5.53%

5.56%

7.06%

10Y

6.95%