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MM Forgings Limited (MMFL)

Small Cap

Auto stocks · Small cap · NSE

MM Forgings Limited operates in Auto Components, within the Auto sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.

₹487.25
-21.40 · -4.21%
Market cap ₹2,668 Cr
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm IST
Details
Quote21 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result14 Aug, 07:55 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Auto P/E 25.7 (n=127)
Technical timing lens

Trend score and candlestick chart

38Bearish

SMA20 -9.8% / mo · RSI oversold · MACD − · sector -2.2pp vs Nifty 500 (3M)

Stock trend: 34
Sector RS: 44
Sector 3M: -7.8% vs Nifty 500 -5.6%
Auto FPI tailwindNot confirmed

Latest mapped FPI equity flow was not positive. View sector evidence

Technical chart

MMFLD candles · FIT view-2.5%
Latest close ₹487.25 on 2026-10-21
Bar
-4.2%
RSI
27
MACD hist
-7.67
52W pos
50%
Visible chart range
Candle interval
2026-10-21O ₹508.65H ₹511.90L ₹481.30C ₹487.25Vol 1.5L sh
₹418.26₹488.89₹559.53₹630.16₹700.7952H₹487.252026-06VolRSIMACD2026-042026-062026-082026-092026-11
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

MMFLNifty AutoNifty 500
-16%-2%+12%+26%21 Jul2 Sept21 Oct21 Oct 2026MMFL -12.3%Nifty Auto -7.8%Nifty 500 -6.5%
MMFL
-12.3%
Nifty 500
-6.5%
Nifty Auto
-7.8%
Vs Nifty 500
-5.8 pp
Chart stats
21 Oct 2026
From 52W high
-29.2%
₹688
52W range position
50%
₹288.1 - ₹688
ATR (14)
5.2%
₹25.3
Volume vs 20D
2.26x
Latest completed session
Avg traded value
₹4 Cr
20-session average
20D price channel
₹481.3 - ₹627.9
38.3% annualized volatility
Research snapshot

What the evidence says now

Mixed 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 · FAIR VALUE
46

Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.

Latest result
Good
67

Revenue +16.0% · PAT +373.7% YoY

Technical
Bearish
38

Price trend and sector-relative-strength timing.

Valuation
Legacy model
+64.0%

Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.

Trust
Limited evidence
66

Financial-only signal; management claim evidence is not sufficient yet.

Financials

Fundamentals, quarterly history, margins, returns and balance-sheet evidence

Latest result

Quarter ended 30 Jun 2026

Good · 67/100

Rev +16% YoY · PAT +374% YoY · operating leverage · margin compression

Filed 14 Aug 2026
Open results browser →
MetricThis quarterYoYQoQ
Revenue₹420 Cr+16.0%-2.3%
EBITDA₹75 Cr+19.0%-7.4%
Operating margin18.0%+0 bps-100 bps
PAT₹90 Cr+373.7%+100.0%
PAT margin21.4%+1618 bps+1096 bps

NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.

Fundamentals

Valuation

P/E
23.70
P/B
2.73
EV/EBITDA
9.76
Market Cap
2668.00Cr

Profitability

ROE
10.50%
ROCE
8.97%
ROA
6.77%
Dividend Y
0.72%

Growth (CAGR)

Revenue 5Y
16.00%
EPS 5Y
17.00%
Revenue 3Y
3.00%
EPS 3Y
-8.00%

Balance Sheet

Debt/Equity
1.27
Interest Coverage
3.84×
Altman Z
2.76
Book Value
202.00

Cash Flow

FCF Yield
1.72%
FCF Positive Y
5/5
OCF
228.00 Cr
EPS TTM
35.07

Shareholding

Promoter Hold
56.33%
Promoter Pledge
0.00%
Momentum 52W
67%

Financial History

Updated 21/10/2026

Revenue

₹ Cr
Latest: 420-2.3% vs prev
0430.0Sep 2023: 397Dec 2023: 399Mar 2024: 398Jun 2024: 382Sep 2024: 398Dec 2024: 374Mar 2025: 371Jun 2025: 362Sep 2025: 385Dec 2025: 414Mar 2026: 430Jun 2026: 420Q2 23Q3 23FY24Q1 24Q2 24Q3 24FY25Q1 25Q2 25Q3 25FY26Q1 26

Net Profit

₹ Cr
Latest: 90.0+100.0% vs prev
090.0Sep 2023: 35.0Dec 2023: 34.0Mar 2024: 37.0Jun 2024: 30.0Sep 2024: 32.0Dec 2024: 27.0Mar 2025: 33.0Jun 2025: 19.0Sep 2025: 17.0Dec 2025: 18.0Mar 2026: 45.0Jun 2026: 90.0Q2 23Q3 23FY24Q1 24Q2 24Q3 24FY25Q1 25Q2 25Q3 25FY26Q1 26
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

Daily technical trend read

Bearish setup

Trend is weak — long-term trend down. RSI 27.

  • Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
  • SMA20 falling (~10.9% over last month) — short-term momentum negative.
  • RSI(14) at 27 — oversold zone; bounce conditions.
  • MACD below signal, histogram expanding negatively — bearish momentum building.
  • 29% off 52W high · 69% 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

84
RS percentile
Stage 1 Base / Transition
1M return
-20.5%
3M return
-12.3%
6M return
-2.1%
1Y return
+58.4%
RS 1D
-1
RS 20D
-8
Sector rank
#5
Industry rank
#30
Stage evidence
  • Price is within 6.3% of the 30-week proxy.
  • The 30-week proxy changed +3.2% over 20 sessions.
  • The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
weakening
Relative-strength line vs Nifty 500 (base 100)
262 observations
21 Oct 2026Value 165.88-3.32%
87121154188221Sept 25Feb 26Jun 26Oct 26166
RS vs Nifty 500166

Valuation & peers

U-Score 46 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies

46U-SCORE
Financial Turnaround

Fundamental score breakdown

U band · FAIR VALUE
Valuation16/30
Growth14/25
Quality1/20
Balance Sheet5/15
Cash Flow5/10
Piotroski
7/9 (+5)
Penalties
0
Raw sum
46

Why this score?

Top U-Score contributors and drags from the latest stored fundamentals.

46/100 · legacy band FAIR VALUE

Positive drivers

  • Piotroski is strong at 7/9.
  • Fair-value margin of safety is positive at 64.0%.
  • Growth contributes 14/25 to the score.

Main drags

  • Quality is weaker at 1/20; verify the latest quarterly trend.
  • Balance sheet is weaker at 5/15; verify the latest quarterly trend.
  • Cash flow is weaker at 5/10; 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.

Consumer PE/PEG
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
23.7
PB
2.7
EV/EBITDA
9.8
ROE
10.5%
ROCE
9.0%
FCF Yield
1.7%
Debt/Equity
1.3
MoS
+64.0%
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
46
Previous: 46
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+64.0%
Previous: +62.4%

Score history

12 stored score snapshots. Latest stored move: +0 points.

21 Oct 2026
v4.3-runtime-valuation
46
46
46
46
46
46
46
46
46
46
46
46

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
₹399.24
-22.0% MoS
Growth-justified P/E
38.5
Growth-justified Value
₹1,351.95
+64.0% MoS
PEG
1.39

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.

Compare all ↗
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
VSTTILLERS
Small
V.S.T Tillers Tractors Limited
Auto Components
match 167
31
33.6
10.0%
-70%
OVERVALUED
RICOAUTO
Small
Rico Auto Industries Limited
Auto Components
match 167
31
45.5
7.7%
-33%
OVERVALUED
TIRUPATIFL
Small
Tirupati Forge Limited
Auto Components
match 165
34
160.0
5.2%
-271%
WATCHLIST
KROSS
Small
Kross Limited
Auto Components
match 164
48
25.3
12.0%
+28%
FAIR VALUE
MUNJALAU
Small
Munjal Auto Industries Limited
Auto Components
match 164
20
20.6
3.7%
-294%
OVERVALUED

Business, management & trust

Growth engines, risks, management commitments and evidence-backed delivery

Business and thesis

Issuer presentation review pending

MM Forgings Limited operates in Auto Components, 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 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.

Trust Score
66Limited 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 49th percentile of the scored universe and 32nd percentile within Auto. Main check: financial discipline is weak at 50/100.

This is a financial-behaviour screen, not a claim-tested management reliability verdict.

Computed 05 Sept 2026
management-trust-v1
47 docs text-extracted · 27 concalls text-extracted
Score band
Limited evidence

Financial behaviour is scored, but management claims do not yet have enough outcome checks.

Relative rank
49th percentile

overall median 67 · Auto: 32nd pctile, median 74 · Small: 54th pctile, median 66

Evidence depth
Financial-only

47 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 confidence
What 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
77
strong · profit to cash conversion
Balance sheet
53
watch · leverage and solvency
Discipline
50
watch · capital discipline
Results
61
acceptable · quarterly consistency

Trust positives

  • ▸Promoter holding is 56.3%.
  • ▸Promoter pledge is zero.
  • ▸FCF yield is positive at 1.5%.
  • ▸5 years of positive FCF.

Trust risks

  • ▸2 latest quarters had PAT decline worse than 25% YoY.
  • ▸Debt/equity is 1.27.
  • ▸ROCE trend is -3%.

Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.

Important announcements & filings

Latest exchange and company disclosures found within the past two years.

7 shown
Announcement

Announcement under Regulation 30 (LODR)-Newspaper Publication 20 Jul - We are submitting a copy of newspaper publication in respect of intimation of 80th Annual General meeting of the Company scheduled on Saturday, 08 August …

Source: Bse

Open source ↗
Annual report

Reg. 34 (1) Annual Report. 17 Jul

Source: Bse

Open source ↗
Announcement

Announcement under Regulation 30 (LODR)-Newspaper Publication 17 Jul - Intimation of Newspaper publication in connection with date of Annual General Meeting of the Company

Source: Bse

Open source ↗
Announcement

Announcement under Regulation 30 (LODR)-Scheme of Arrangement 30 Jun - NCLT Chennai approved DVS Industries’ amalgamation with M M Forgings; transferor will dissolve after ROC filing.

Source: Bse

Open source ↗
Announcement

Announcement under Regulation 30 (LODR)-Newspaper Publication 30 May

Source: Bse

Open source ↗
Verify on:NSE India ↗
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.