Balu Forge Ltd has recently announced its quarterly and annual results for the year ended March 31, 2023. In terms of the quarterly results (Q4FY23), the company witnessed significant growth across various metrics. The revenue from operations amounted to Rs 123.78 crore, indicating a substantial increase of 50.42% quarter-on-quarter (QoQ). The Profit Before Depreciation and Tax reached Rs 20.78 crore, reflecting a growth of 53.33% QoQ. Furthermore, the Profit After Tax (PAT) stood at Rs 15.24 crore, showcasing a remarkable growth of 43.27% QoQ.
Moving on to the annual results (FY23), Balu Forge Ltd continued to exhibit positive performance. The revenue from operations for the fiscal year stood at Rs 326.64 crore, showcasing a growth of 14.18% year-on-year (YoY). The Profit Before Depreciation and Tax amounted to Rs 61.10 crore, indicating a substantial growth of 52.21% YoY. Moreover, the Profit After Tax (PAT) reached Rs 38.91 crore, showcasing a solid growth of 30.39% YoY.
Balu Forge Ltd is a company that operates in the manufacturing sector. It specializes in the production of forged and machined components for various industries, including automotive, aerospace, agriculture and general engineering. The company is known for its expertise in forging, heat treatment and precision machining processes.
With a strong financial performance and a customer-centric approach, Balu Forge Ltd continues to expand its presence in the industry and maintain its position as a leading player in the forging and machining sector. Today, Balu Forge shares surged by 7%, reaching an intraday peak of Rs 116 per share, compared to its previous closing price of Rs 108.51. Presently, the company’s shares are being traded at Rs 113 per share, indicating a 0.4.40% increase.
The stock of Balu Forge has delivered remarkable returns, often referred to as “multibagger returns,” indicating a substantial increase in value over a specific period. In this case, the stock has generated impressive returns of 124 percent from its 52-week low of Rs 52 per share.
Balu Forge, a capital goods sector stock should be kept under the watchlist.