Balu Forge Q1 FY27 Revenue Up 29% to ₹3,007 Mn, Expands Aerospace & Defence Biz
Balu Forge reported Q1 FY27 revenue of ₹3,007 Mn (up 29% YoY) and PAT of ₹661 Mn (up 15.9% YoY). Key developments include a maiden aerospace order from the USA, a 30,000 unit order for 152mm artillery shells, and induction into the NATO supply chain. The company also commissioned a new ammunition shell line and advanced machining capabilities.
The substantial revenue growth, entry into the high-value aerospace sector with a US-based order, significant defence orders including NATO supply chain induction, and credit rating upgrade are all material positive developments that will significantly impact the company's financial performance and market position.
The company reported strong year-on-year growth in revenue and profit, secured significant new orders in the defence sector, entered the aerospace market, and received a credit rating upgrade, all indicating positive performance and future prospects.
Balu Forge Industries Limited announced its financial results for the quarter ended June 30, 2026 (Q1 FY27), reporting a significant 29.0% year-on-year growth in Revenue from Operations, reaching ₹3,007 million (₹300.7 crore).
EBITDA for the quarter increased by 17.3% YoY to ₹848 million (₹84.8 crore), with an EBITDA margin of 28.2%. Profit After Tax (PAT) stood at ₹661 million (₹66.1 crore), a 15.9% increase YoY. The company highlighted meaningful developments across aerospace, defence, and precision heavy engineering segments, indicating a strategic shift towards higher-value applications.
A major milestone achieved was the maiden aerospace order from Alpha Aircraft Systems Inc., USA, marking the company's entry into the global aerospace supply chain. This order validates Balu Forge's precision engineering capabilities and expertise in advanced alloys.
In the defence sector, the company secured an order for 30,000 units of 152mm artillery shells from a leading Indian energetics player, with supplies commencing in June 2026. Furthermore, Balu Forge was inducted into the NATO supply chain for the manufacture of artillery shell bodies and mission-critical components. The company also commercialized a 360,000 shells per annum large-caliber ammunition shell line at its greenfield Belgaum facility and entered into a 5-year binding MoU with a NATO-affiliated entity for the supply of large-caliber ammunition shells.
Balu Forge also commissioned an advanced multi-axis machining line with 7-Axis and 11-Axis CNC machines at its Belgaum facility, enhancing its capability to manufacture complex, high-precision components. The company's subsidiary, Quantum Energetics Private Limited, is venturing into the advanced energetics segment, subject to approvals.
ICRA upgraded the company's credit rating to [ICRA]A-(Stable) / [ICRA]A2+ across its bank facilities, reflecting a strengthened credit profile. The company is also considering refinancing existing debt with a USD FCCB to reduce interest costs.
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