Balu Forge FY26 Revenue up 19.9% to ₹11,074 Crore; Secures Maiden Aerospace Order
Balu Forge reported FY26 Revenue of ₹11,074 million (₹1,107.4 crore), up 19.9% YoY. EBITDA increased 19.3% to ₹2,995 million (₹299.5 crore) with a 27.0% margin. PAT rose 27.0% to ₹2,589 million (₹258.9 crore). The company secured a 5-year MOU for large calibre ammunition supply and its first aerospace order from Alpha Aircraft Systems Inc., USA. Plans for manufacturing capacity expansion are underway.
The substantial financial growth, coupled with securing a significant long-term supply agreement in the defence sector and entering the global aerospace supply chain, are material developments that will likely have a high impact on the company's future performance and market position.
The company reported significant year-on-year growth in revenue, EBITDA, and PAT. Key strategic developments like a long-term ammunition supply MOU and a maiden aerospace order indicate positive future prospects and business expansion.
Balu Forge Industries Limited announced its audited financial results for the quarter and full year ended March 31, 2026. For the full fiscal year 2026, the company reported a significant 19.9% year-on-year increase in Revenue from Operations, reaching ₹11,074 million (₹1,107.4 crore). The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) grew by 19.3% YoY to ₹2,995 million (₹299.5 crore), with an EBITDA margin of 27.0%. Profit After Tax (PAT) saw a substantial rise of 27.0% YoY to ₹2,589 million (₹258.9 crore), achieving a PAT margin of 22.7%.
In the fourth quarter of FY26, Revenue from Operations stood at ₹2,636 million. EBITDA for the quarter was ₹599 million with a margin of 22.7%, and PAT was ₹657 million with a margin of 22.9%. The company noted that the Q4 performance was impacted by geopolitical developments in the Middle East, leading to a sequential moderation in volumes across its India-UAE operations. However, the increasing contribution of high-value engineering segments helped mitigate the impact on margins.
Commenting on the performance, Mr. Jaspal Singh Chandock, Chairman & Managing Director, highlighted the company's strong execution and scaling operations. He also announced significant strategic developments, including a 5-year Memorandum of Understanding (MOU) for the supply of large calibre ammunition from its greenfield manufacturing campus in Belgaum, Karnataka, following its induction into the NATO supply chain. To support this long-term supply opportunity, the company plans to expand its manufacturing capacities through internal accruals.
Furthermore, Balu Forge secured its maiden aerospace order from Alpha Aircraft Systems Inc., USA, for the supply of precision engineered components. This marks the company's entry into the global aerospace supply chain, driven by investments in advanced manufacturing and precision engineering. As the company enters FY27, it remains focused on strengthening its precision engineering, defence, and aerospace manufacturing capabilities through continued investments in advanced technologies and capacity expansion.
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