Maiden Forgings Limited submitted its unaudited financial results for H1 FY27 through a regulatory filing under Regulation 30 of SEBI Listing Regulations. The company reported significant financial improvement across all key metrics.

Financial Performance Highlights (₹ Cr)

| Particulars | H1 FY27 | H1 FY26 | YOY Growth |

| Total Income | 139.04 | 111.36 | 24.86% |

| EBITDA | 14.20 | 6.74 | 110.81% |

| EBITDA Margin | 10.21% | 6.05% | 416 BPS |

| Net Profit | 6.99 | 2.10 | 233.12% |

| Net Profit Margin | 5.02% | 1.88% | 314 BPS |

| EPS (₹) | 4.92 | 1.48 | 232.43% |

Operational Highlights

  • Sales Volumes: Total sales volumes reached 19,239.35 MT in H1 FY27, representing 14.20% year-on-year growth
  • Revenue Breakdown: Revenue from operations grew 22.4% to ₹133.99 Cr, while total income of ₹139.04 Cr includes other income of ₹5.05 Cr (H1 FY26: ₹1.92 Cr)
  • One-time Gain: Other income includes a gain from the sale of the company's vacant land parcel at C-10, Bulandshahr Road Industrial Area, Ghaziabad

Strategic Developments

  • New Facility: Commenced operations at the new Bhojpur manufacturing facility in July 2026, completing Phase I of Unit II consolidation
  • Expected Benefits: The consolidation is expected to improve production workflows and delivery timelines with estimated savings of at least ₹25 lakh per month once fully completed
  • Land Monetization: Successfully sold the Ghaziabad land parcel for ₹12.90 Cr, with proceeds proposed to be deployed towards expansion and development of new manufacturing facilities

Credit Rating

  • Bank Facilities: ₹42.50 Cr of total bank loan facilities rated by CRISIL
  • Rating Action: Long-term rating reaffirmed at CRISIL BBB/Stable

Management Commentary

Mr. Nishant Garg, Managing Director, commented that the operating improvement is visible even without the one-time land sale gain. The company is optimistic about the second half due to additional capacity at Bhojpur, growing presence in specialty and defense-linked products, and a healthy order pipeline. The company expressed confidence in meeting full-year targets.

Company Background

Maiden Forgings Limited operates three manufacturing units with aggregate capacity of 53,000 MTPA, serving 450+ customers across domestic and international markets. The company manufactures Bright Steel bars, wires and pneumatic nails, catering to automotive, engineering, railways, defense, power and fabrication industries. In FY26, the company recorded Total Income of ₹233.96 Cr, EBITDA of ₹17.22 Cr and Net Profit of ₹5.02 Cr.