Company Overview
MM Forgings Limited (NSE: MMFL-EQ; BSE: 522241) submitted its FY26 Annual Report and convened its 80th Annual General Meeting on 08 August 2026. The company operates in the auto components sector with significant forging operations.
Financial Performance
For FY26, MM Forgings reported total revenue of ₹1,570 crore (₹1,56,950.39 lakhs) with forging sales contributing ₹1,52,859.07 lakhs. The company achieved EBITDA of ₹30,037.26 lakhs and profit after tax of ₹113.86 crore (₹11,386.30 lakhs), with earnings per share of ₹23.58. The board maintained an interim dividend of ₹4 per equity share (40%), totaling ₹19.32 crore payout.
Audit Validation
Auditors G Ramesh Kumar & Co. issued an unmodified opinion on both standalone and consolidated financial statements, confirming compliance with Indian Accounting Standards (Ind AS). The audit identified no key audit matters and validated adequate internal financial controls across the group. Consolidated financials showed revenue of ₹1,58,987.32 lakhs and PAT of ₹9,866.63 lakhs.
Corporate Actions & Fundraising
The board approved an enabling resolution to raise up to ₹600 crore through equity issuance via Qualified Institutional Placement or other permissible modes. Authorized share capital was increased from ₹51 crore to ₹61 crore. The company filed for amalgamation of wholly-owned subsidiary DVS Industries Private Limited with an appointed date of 01 April 2024, pending NCLT approval.
Operational Highlights
Domestic sales grew 9.5% to ₹986 crore (64% of revenue), while exports stood at ₹543 crore (36%). Production reached 75,362 tons with net foreign exchange earnings of ₹451.08 crore. The company transitioned to 100% green energy consumption from Q4FY26.
Governance & Compliance
The AGM agenda included re-appointment of directors Sumita Vidyashankar and Ramnath Nagarajan retiring by rotation, and ratification of cost auditor remuneration. The company maintained compliance with SEBI Listing Regulations and Companies Act provisions, with no fraud reported or whistle-blower complaints received during the year.
Subsidiary Performance
Group subsidiaries included DVS Industries (revenue ₹10,362.22 lakhs, loss ₹1,021.63 lakhs), Suvarchas Vidyut (revenue ₹275.60 lakhs, loss ₹234.25 lakhs), and Abhinava Rizel (revenue ₹10.87 lakhs, nominal profit). The company granted loans totaling ₹202.06 crore to subsidiaries with no overdue amounts.