MM Forgings Q2 FY27 Results: Consolidated Net Profit ₹41.75 Crore on Total Income of ₹550 Crore
- Earnings
- Forgings and auto components
Reviewed byKeshav SehgalBlacklitt Research
MM Forgings (NSE: MMFL) reported consolidated total income of ₹550.47 crore and net profit of ₹41.75 crore for the quarter ended 30 Sep 2026, with standalone total income of ₹550.96 crore and net profit of ₹45.89 crore, it said in a filing on 05 Nov 2026.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹550.47 crore, up 41.5% YoY and 29.0% QoQ
- Net profit and EPS: ₹41.75 crore, up 152.0% YoY; basic EPS ₹8.65
- Finance costs: ₹18.78 crore, down 11.5% YoY and up 15.4% QoQ
Standalone
The company on its own, without its subsidiaries
- Total income: ₹550.96 crore, up 41.5% YoY and 29.0% QoQ
- Net profit and EPS: ₹45.89 crore, up 159.1% YoY; basic EPS ₹9.51
- Other income: ₹15.23 crore, up 21.7% YoY
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 550.47 | 388.89 | +41.5% | 426.76 | +29.0% | |
| Revenue from operations | 537.44 | 376.37 | +42.8% | 409.90 | +31.1% |
| Other income | 13.03 | 12.52 | +4.1% | 16.86 | -22.7% |
| 41.75 | 16.57 | +152.0% | 90.42 | -53.8% | |
| Finance costs | 18.78 | 21.23 | -11.5% | 16.27 | +15.4% |
| Depreciation | 27.20 | 24.11 | +12.8% | 29.88 | -9.0% |
| Tax expense | 18.81 | 8.50 | +121.3% | 10.09 | +86.4% |
| Net profit margin | 7.58% | 4.26% | +3.32 pp | 21.19% | -13.60 pp |
| Tax as share of profit before tax | 31.1% | 31.5% | -0.46 pp | 10.2% | +20.90 pp |
| EPS, basic (₹) | 8.65 | 3.83 | +125.8% | 18.49 | -53.2% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit grew faster than total income over the year, but fell from the previous quarter. Net profit rose 152.0% to ₹41.75 crore against total income growth of 41.5%, while revenue from operations rose 42.8%, faster than other income at 4.1%. Other income of ₹13.03 crore is 2.4% of total income this quarter.
Finance costs fell 11.5% YoY to ₹18.78 crore, or 3.4% of total income. Profit before tax was ₹60.56 crore against ₹26.97 crore a year earlier, and tax expense of ₹18.81 crore is 31.1% of that profit before tax, against 31.5% a year earlier.
Against the previous quarter, consolidated net profit fell 53.8% while total income rose 29.0%. The previous quarter included an exceptional profit on sale of land of ₹64.29 crore, which the filing reports for the quarter ended 30 Jun 2026. That item equals 64.7% of the previous quarter's consolidated profit before tax of ₹99.36 crore, so the quarter-on-quarter comparison is against a base that contained it.
Prior-period figures are restated for the merger of D V S Industries Private Limited, a wholly owned subsidiary, which an NCLT Chennai order dated 29 Jun 2026 merged into the company with an appointed date of 1 Apr 2024. The consolidated results include Suvarchas Vidyut Private Limited and Abhinava Rizel Private Limited.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 550.96 | 389.28 | +41.5% | 427.01 | +29.0% | |
| Revenue from operations | 535.73 | 376.76 | +42.2% | 409.19 | +30.9% |
| Other income | 15.23 | 12.52 | +21.7% | 17.82 | -14.5% |
| 45.89 | 17.71 | +159.1% | 91.66 | -49.9% | |
| Finance costs | 18.78 | 21.23 | -11.5% | 16.27 | +15.4% |
| Depreciation | 27.20 | 24.11 | +12.8% | 29.76 | -8.6% |
| Tax expense | 18.81 | 8.50 | +121.3% | 8.75 | +115.0% |
| Net profit margin | 8.33% | 4.55% | +3.78 pp | 21.47% | -13.14 pp |
| Tax as share of profit before tax | 29.1% | 31.5% | -2.45 pp | 8.7% | +20.35 pp |
| EPS, basic (₹) | 9.51 | 3.83 | +148.3% | 18.98 | -49.9% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 159.1% YoY to ₹45.89 crore, faster than total income growth of 41.5%. Basic EPS of ₹9.51 compares with ₹3.83 a year earlier. Standalone other income of ₹15.23 crore is 2.8% of total income and rose 21.7%, against revenue from operations up 42.2%.
Standalone profit before tax was ₹64.71 crore and tax expense ₹18.81 crore, or 29.1% of profit before tax, against 31.5% a year earlier. Standalone net profit is ₹4.14 crore higher than consolidated net profit of ₹41.75 crore, while standalone total income is ₹0.49 crore higher than consolidated total income.
Standalone net profit fell 49.9% from the previous quarter while total income rose 29.0%. The previous quarter included the ₹64.29 crore exceptional profit on sale of land, which equals 64.1% of the standalone profit before tax of ₹100.30 crore for that quarter. Tax expense rose 115.0% QoQ to ₹18.81 crore on the table's basis.
Inference
The filing reports long-term borrowings of ₹602.01 crore and short-term borrowings of ₹531.91 crore on the standalone balance sheet as at 30 Sep 2026. It also says a standalone dividend of ₹19.31 crore for the previous year appears in the half-year cash flow statement.
Not stated: the reasons for the year-on-year and quarter-on-quarter changes in revenue and profit, how much of the restated figures the merger accounts for, and the tax rate effect of the land sale and of tax adjustments for earlier years.
Filed with BSE on . Reference: Original filing (PDF)
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