Balu Forge Reports Strong Q2 & H1 FY26 Results, Revenue Up 34.4% YoY, Guides 40-45% Growth for FY26
Balu Forge reported strong Q2 and H1 FY26 results with significant revenue and PAT growth. The company's greenfield facility and defence division are progressing, guiding 40-45% revenue growth for FY26.
The strong financial performance, significant revenue growth guidance for FY26, and positive updates on strategic projects like the Hattargi facility and defence division are likely to have a substantial positive impact on investor confidence and the company's stock valuation.
The company reported substantial year-on-year growth in revenue, EBITDA, and PAT for both the quarter and half-year. Management commentary indicates strong execution, strategic capacity expansion, and commercialization in the defence sector, alongside positive revenue guidance for FY26.
* Balu Forge Industries Limited announced robust financial results for the quarter and half year ended September 30, 2025. * For Q2 FY26, Revenue from Operations increased by 34.4% year-on-year to ₹2,995 million (₹299.5 crore). EBITDA stood at ₹828 million (₹82.8 crore) with a margin of 27.6%, and Profit After Tax (PAT) was ₹650 million (₹65.0 crore), reflecting a 21.5% margin. * For H1 FY26, Revenue from Operations grew by 33.8% over H1 FY25 to ₹5,327 million (₹532.7 crore). EBITDA reached ₹1,551 million (₹155.1 crore) with a 29.1% margin, and PAT was ₹1,221 million (₹122.1 crore), achieving a 22.7% margin. * Mr. Jaspal Singh Chandock, Chairman & Managing Director, highlighted that this performance reflects steady execution and the continued strengthening of Balu Forge’s integrated manufacturing platform. * The greenfield facility at Hattargi, Karnataka, is progressing as planned, with the commissioning of the 25-ton closed-die forging hammer, 8,000-ton mechanical press, and automated machining lines on schedule. Upon full operation, total forging capacity will increase to 150,000 tons per year and machining capacity to 80,000 tons per year. * The defence division remains a key focus, with the dedicated forging and machining line for Empty Shell production (capacity: 360,000 shells per year) in the commercialization phase. The company has secured vendor approvals from leading Indian defence players. * Balu Forge is positioned to drive the next phase of growth through scale, technology, and customer diversification. * The company maintains its revenue growth guidance for FY26 in the range of 40-45%, driven by strategic capacity expansions and increased penetration into high-demand industries.
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