MM Forgings Q2FY27: Revenue Surges 42% to ₹551 Crore, PAT Jumps 134%
MM Forgings Limited reported a strong Q2 FY27 with revenue up 42% to ₹551 crore and PAT up 134% to ₹46 crore. H1 FY27 revenue increased 29% to ₹978 crore, with PAT up 262% to ₹137 crore, including a ₹56 crore land sale profit. The company is focusing on diversification and growth opportunities.
The substantial percentage increases in key financial metrics like revenue and profit, along with strategic initiatives for diversification and growth, are likely to have a significant positive impact on investor sentiment and the company's stock performance.
The company has reported significant year-on-year growth in revenue, EBITDA, PBT, and PAT for both Q2 FY27 and H1 FY27, indicating strong financial performance.
MM Forgings Limited (MMFL) has announced a significant performance update for the second quarter (Q2) and first half (H1) of the fiscal year 2027 (FY27), presenting an investor presentation detailing key financial and operational highlights.
For Q2 FY27, the company reported a substantial 42% increase in total revenue, reaching ₹551 crore compared to ₹389 crore in Q2 FY26. EBITDA saw a robust growth of 53%, rising to ₹111 crore from ₹72 crore. Profit Before Tax (PBT) surged by 139% to ₹65 crore, and Profit After Tax (PAT) jumped by an impressive 134% to ₹46 crore. Earnings Per Share (EPS) also grew significantly by 148% to ₹9.51.
The first half of FY27 (H1 FY27) also demonstrated strong momentum. Total revenue increased by 29% to ₹978 crore from ₹759 crore in H1 FY26. EBITDA grew by 34% to ₹193 crore. PBT saw a remarkable 200% increase to ₹165 crore, and PAT rose by 262% to ₹137 crore. It is noted that H1 FY27 PAT includes ₹56 crore (net of tax) profit from the sale of land near Oragadam.
The company's Chairman and Managing Director, Shri. Vidyashankar Krishnan, highlighted that H1 FY27 marks a crucial phase in MMFL's transformation, with large machined-product programs ramping up and an increased focus on diversification into segments like passenger-vehicle forgings. The company is actively exploring organic and inorganic growth opportunities, alongside cost optimization and operational efficiency to navigate near-term uncertainties and position for sustainable growth in H2 FY27.
Geographically, for Q2 FY27, domestic revenue constituted 67% of overall sales, with exports at 33%. This is a shift from Q2 FY26 where domestic was 64% and exports were 36%. For H1 FY27, domestic revenue was 64% and exports were 36%, similar to H1 FY26's 65% domestic and 35% export split.
The revenue mix shows a continued strong reliance on Commercial Vehicles, which accounted for 78% of sales in Q2 FY27 and 78.5% in H1 FY27. Passenger Vehicles and Agri/Off-Highway segments also contribute to the sales mix. The company is seeing a growth in the realization per ton for Forged & Machined products, increasing from ₹2.08 lakh in Q2 FY26 to ₹2.15 lakh in Q2 FY27.
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