Annual report
Shareholders meeting 27 Aug - FY26 annual report: revenue ₹22,613.28 lakh, PAT ₹1,081.71 lakh; acquired Forge Mach Auto subsidiary.
Source: Nse
Forge Auto International Ltd. (FORGEAUTO)
SME CapAuto stocks · SME cap · NSE
Forge Auto International Ltd. operates in Forgings, within the Auto sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
₹96.3
-3.70 · -3.70%
Market cap ₹109 Cr
Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am ISTDetails
Quote21 Oct, 04:45 am IST
Base fundamentals18 Oct 2026 · screener
Latest result01 Jun, 08:26 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage11/14 · 79%
Valuation2026-07-20 · Rf 6.8% · Auto P/E 25.7 (n=127)
Technical timing lens
Trend score and candlestick chart
35Bearishfull bear SMA stack · SMA20 -1.1% / mo · MACD −
Stock trend: 26
Sector RS: 49
Sector 3M: -6.3% vs Nifty 500 -5.6%
Auto FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
FORGEAUTOD candles · FIT view+9.1%Latest close ₹96.30 on 2026-10-19
Bar
-3.7%
RSI
42
MACD hist
-0.36
52W pos
38%
2026-10-19O ₹100.00H ₹100.00L ₹96.30C ₹96.30Vol 2,400 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
FORGEAUTONifty AutoNifty 500
- FORGEAUTO
- +14.2%
- Nifty 500
- -5.6%
- Nifty Auto
- -6.3%
- Vs Nifty 500
- +19.9 pp
Chart stats
19 Oct 2026- From 52W high
- -45.1%
- 52W range position
- 26%
- ATR (14)
- 2.4%
- Volume vs 20D
- 0.53x
- Avg traded value
- ₹0 Cr
- 20D price channel
- ₹95.1 - ₹106.5
₹175.5
₹68.5 - ₹175.5
₹2.3
Latest completed session
20-session average
36.4% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · WATCHLIST37
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Pending data—
Revenue NDF · PAT NDF YoY
Technical
Bearish35
Price trend and sector-relative-strength timing.
Valuation
Legacy model-15.4%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence64
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 31 Mar 2026
Pending dataYoY comparison unavailable - result verdict pending data
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹136 Cr | NDF | +1.5% |
| EBITDA | ₹13 Cr | NDF | -7.1% |
| Operating margin | 10.0% | NDF | -100 bps |
| PAT | ₹6 Cr | NDF | +0.0% |
| PAT margin | 4.4% | NDF | -7 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 8.86
- P/B
- 1.57
- EV/EBITDA
- 5.66
- Market Cap
- 109.00Cr
Profitability
- ROE
- 17.70%
- ROCE
- —
- ROA
- 6.12%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- —
- EPS 5Y
- —
- Revenue 3Y
- —
- EPS 3Y
- —
Balance Sheet
- Debt/Equity
- 1.03
- Interest Coverage
- 3.86×
- Altman Z
- 2.90
- Book Value
- 63.80
Cash Flow
- FCF Yield
- 18.35%
- FCF Positive Y
- 1/5
- OCF
- 24.00 Cr
- EPS TTM
- 11.29
Shareholding
- Promoter Hold
- 73.63%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 44%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 136+1.5% vs prev
Net Profit
₹ CrLatest: 6.0+0.0% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend unclear. RSI 42.
- SMA20 falling (~1.1% over last month) — short-term momentum negative.
- RSI(14) at 42 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 32% off 52W high · 41% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
49
RS percentile
Stage 3 Topping
1M return
+0.4%
3M return
+6.8%
6M return
+16.7%
1Y return
-30.4%
RS 1D
+3
RS 20D
-2
Sector rank
#3
Industry rank
#30
Stage evidence
- 43.4% below the 52-week closing high after prior strength.
- The 30-week proxy has stalled (-2.5% over 20 sessions).
- Price has not yet confirmed a full Stage 4 downtrend.
50-DMA
price below
200-DMA
price below
Sector
leading
Industry
neutral
Relative-strength line vs Nifty 500 (base 100)
196 observations
19 Oct 2026Value 68.05-2.70%
RS vs Nifty 50068
Valuation & peers
U-Score 37 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 37 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation21/30
Growth1/25
Quality8/20
Balance Sheet7/15
Cash Flow5/10
Piotroski
5/9 (+3)
Penalties
-8
Raw sum
37
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
37/100 · legacy band WATCHLIST
Positive drivers
- FCF yield is supportive at 18.4%.
- Valuation contributes 21/30 to the score.
- Cash flow contributes 5/10 to the score.
Main drags
- Penalty bucket subtracts 8 points.
- Fair-value margin of safety is negative at -15.4%.
- Growth is weaker at 1/25; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
8.9
PB
1.6
EV/EBITDA
5.7
ROE
17.7%
ROCE
—
FCF Yield
18.4%
Debt/Equity
1.0
MoS
-15.4%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
37
Previous: 37
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-15.4%
Previous: -15.4%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
37
37
37
37
37
37
37
37
37
37
37
37
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹127.31
+24.4% MoS
Growth-justified P/E
7.4
Growth-justified Value
₹83.43
-15.4% MoS
PEG
—
Comparable companies
Peers
Business-comparable peers in Auto — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
HILTON
Small
Hilton Metal Forging Limited
Auto Components
match 159
44
16.9
2.6%
+58%
WATCHLIST
MUNISH
SME
Munish Forge Ltd.
Auto Components
match 159
40
20.6
10.4%
+47%
WATCHLIST
GANGAFORGE
Small
Ganga Forging Limited
Auto Components
match 154
9
—
-13.2%
—
OVERVALUED
HAPPYFORGE
Small
Happy Forgings Limited
Auto Components
match 144
43
58.0
15.0%
-40%
WATCHLIST
BALUFORGE
Small
Balu Forge Industries Limited
Auto Components
match 142
61
22.0
19.6%
+46%
UNDERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Forge Auto International Ltd. operates in Forgings, within the Auto sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 31 Mar 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
64Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 42nd percentile of the scored universe and 27th percentile within Auto. Main check: balance sheet trust is weak at 53/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
0 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
42nd percentile
overall median 67 · Auto: 27th pctile, median 74 · SME: 51st pctile, median 64
Evidence depth
Financial-only
0 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
65
acceptable · profit to cash conversion
Balance sheet
53
watch · leverage and solvency
Discipline
60
acceptable · capital discipline
Results
55
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 73.6%.
- ▸Promoter pledge is zero.
- ▸FCF yield is 17.4%.
Trust risks
- ▸Only 1 years of positive FCF.
- ▸Debt/equity is 1.03.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Forge Auto International Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Annual report
Annual Report 2026
Source: Nse
Annual report
Annual Report 2025
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.