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Amic Forging Ltd (544037)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544037 NSE: Forgings | Small Cap | Amic Forging Share Price
₹2,199 28.75 (1.32%)
As on 11-Nov'26 15:11
Amic Forging Ltd (544037)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544037 NSE: Forgings | Small Cap | Amic Forging Share Price
₹2,199 28.75 (1.32%)
As on 11-Nov'26 15:11
Key Metrics
Valuation Multiples
Market Cap
₹2,512 Cr.
Current Price
₹2,199
52-Week Low / High
₹1,065 / 2,605
TTM EPS
₹24.4
TTM Sales
₹142 Cr.
Book Value per Share
₹231.7
P/E Ratio
88.86
Higher than its 5-year historical median
Industry PE
70.6
Price to Book (P/B)
9.37
Lower than its 5-year historical median
Price to Sales (P/S)
17.72
Higher than its 5-year historical median
EV/EBITDA
57.34
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
21.15%
Outperforms industry median
Return on Capital Employed (ROCE)
23.57%
Outperforms industry median
Return on Assets (ROA)
13.86%
Outperforms industry median
Operating Profit Margin
32.4%
Outperforms industry median
Net Profit Margin
19.94%
Outperforms industry median
Gross Profit Margin
30.6%
Outperforms industry median
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
16.86%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
52.71%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-20.5%
Asset Quality
Promoter Holding
55.11%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹258 Cr.
Equity
₹11.6 Cr.
Face Value
₹10
All Time Low / High
₹239.40 / 2605.00
Check Before You Invest
Quality
Somewhat GoodValuation
Somewhat OvervaluedCheck Valuation charts
Price Trend
Weak
Is Amic Forging Ltd a good quality company?
Amic Forging Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Amic Forging Ltd performance compare with that of its Peers?
Revenue growth of Amic Forging Ltd vs industry peers?
Amic Forging Ltd revenue CAGR is 39.95%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Amic Forging Ltd?
Promoters hold 55.11% of the Amic Forging Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Amic Forging Ltd over the last decade?
Over the last 1 year(s), the stock has delivered a CAGR of 40.33% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Amic Forging Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 9.8% | 12.9% | 63.6% | 40.9% | 47.6% | 23.6% | - |
| Value Creation Index ⓘ | -0.3 | -0.1 | 3.5 | 1.9 | 2.4 | 0.7 | - |
Growth Parameters ⓘ |
|||||||
| Sales ⓘ | 26.4 | 71.1 | 116 | 126 | 121 | 142 | 142 |
| Sales YoY Gr. | - | 169.3% | 62.9% | 8.9% | -3.8% | 16.9% | - |
| Adj EPS ⓘ | 1 | 1.6 | 12.6 | 11.8 | 21.3 | 28.3 | 24.4 |
| YoY Gr. | - | 50.5% | 711% | -6.1% | 80.3% | 32.8% | - |
| BVPS (₹) ⓘ | 10.8 | 12.3 | 25.7 | 61.6 | 95.4 | 155.6 | 231.7 |
| Adj Net Profit ⓘ | 0.7 | 1 | 9.7 | 12.4 | 22.3 | 30.4 | 28 |
| Cash Flow from Ops. ⓘ | -2.1 | 5.9 | 17.8 | -8 | 5.4 | 8.9 | - |
| Debt/CF from Ops. ⓘ | -2.1 | 1.8 | 0.3 | -0.5 | 0 | 0.6 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | 40% | 7% | 16.9% | ||||
| Adj EPS ⓘ | NA | 93.9% | 31% | 32.8% | ||||
| BVPSⓘ | NA | 70.5% | 82.3% | 63.1% | ||||
| Share Price | - | - | - | 41.9% | ||||
Key Financial Parameters ⓘ
| Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 9.5 | 13.4 | 69.8 | 29.3 | 23.6 | 18 | 12.6 |
| Op. Profit Mgn % ⓘ | 5.8 | 3.2 | 11.7 | 13.1 | 23.1 | 32.4 | NAN |
| Net Profit Mgn % ⓘ | 2.5 | 1.4 | 8.4 | 9.8 | 18.4 | 21.4 | 20 |
| Debt to Equity ⓘ | 0.6 | 1.4 | 0.3 | 0.1 | 0 | 0 | - |
| Working Cap Days ⓘ | 0 | 88 | 109 | 137 | 179 | 264 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 17 | -8 | 7 | 51 | 100 | 0 |
Valuation of Amic Forging - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|
| Sales | 26 | 71 | 116 | 126 | 121 | 142 |
| Operating Expenses ⓘ + | 25 | 69 | 102 | 110 | 93 | 99 |
| Operating Profit ⓘ | 2 | 2 | 14 | 16 | 28 | 43 |
| Operating Profit Margin (%) | 5.8% | 3.1% | 11.7% | 13.1% | 23.1% | 30.2% |
| Other Income ⓘ + | 0 | 0 | 1 | 3 | 21 | 1 |
| Interest ⓘ | 0 | 1 | 1 | 1 | 0 | 0 |
| Depreciation ⓘ | 0 | 1 | 1 | 1 | 3 | 4 |
| Profit Before Tax ⓘ | 1 | 1 | 13 | 19 | 45 | 40 |
| Tax ⓘ | 0 | 0 | 3 | 5 | 10 | 11 |
| Profit After Tax | 1 | 1 | 10 | 14 | 36 | 28 |
| PAT Margin (%) | 2.1% | 1.2% | 8.3% | 11.0% | 29.3% | 19.9% |
| Adjusted EPS (₹) | 0.9 | 1.4 | 12.5 | 13.2 | 33.9 | 26.3 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 7 | 8 | 20 | 65 | 100 | 168 | |||||
| Debt + | 4 | 10 | 4 | 3 | 0 | 2 | |||||
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | |||||
| Trade Payables | 5 | 13 | 29 | 17 | 15 | 18 | |||||
| Others Liabilities ⓘ | 0 | 2 | 9 | 8 | 37 | 66 | |||||
| Total Liabilities ⓘ | 16 | 32 | 62 | 92 | 153 | 255 | |||||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 4 | 5 | 8 | 12 | 35 | 38 | |||||
| CWIP ⓘ | 0 | 0 | 0 | 0 | 6 | 62 | |||||
| Investments ⓘ | 2 | 3 | 8 | 19 | 22 | 11 | |||||
| Inventories | 1 | 0 | 6 | 0 | 16 | 28 | |||||
| Trade Receivables | 9 | 14 | 22 | 29 | 27 | 53 | |||||
| Cash Equivalents | 0 | 0 | 1 | 12 | 20 | 7 | |||||
| Others Assets ⓘ | 0 | 10 | 17 | 20 | 26 | 56 | |||||
| Total Assets ⓘ | 16 | 32 | 62 | 92 | 153 | 255 | |||||
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | -2 | 6 | 18 | -8 | 6 | 9 |
| Cash Flow From Investing Activity ⓘ + | -2 | -12 | -13 | -10 | -19 | -87 |
| Cash Flow From Financing Activity ⓘ + | 4 | 6 | -4 | 29 | 20 | 65 |
| Net Cash Flow ⓘ | -0 | 0 | 1 | 11 | 7 | -13 |
| PARTICULARS | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 8.27 | 11.96 | 70.19 | 32.81 | 43.2 | 21.15 | ||||
| ROCE (%) | 9.75 | 12.67 | 63.93 | 40.97 | 47.57 | 23.57 | ||||
| Asset Turnover Ratio | 1.63 | 2.97 | 2.46 | 1.63 | 0.99 | 0.7 | ||||
| PAT to CFO Conversion(x) | -2 | 6 | 1.8 | -0.57 | 0.17 | 0.32 | ||||
| Working Capital Days | ||||||||||
| Receivable Days | 124.50 | 58.70 | 56.10 | 73.70 | 85.10 | 103.50 | ||||
| Inventory Days | 14.30 | 3.20 | 10.50 | 9.80 | 24.70 | 56.50 | ||||
| Payable Days | 73.50 | 51 | 85.90 | 87.10 | 75.50 | 84 | ||||
Top 5 Mutual Funds Holding
Last Visited Stocks
Announcements
Annual reports
No annual reports available.
Concalls
No concalls available.
Amic Forging Ltd FAQs
The current trading price of Amic Forging on 11-Nov-2026 15:11 is ₹2,199.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Nov-2026 the market cap of Amic Forging stood at ₹2,512.1 Cr
The latest P/E ratio of Amic Forging as of 10-Nov-2026 is 88.84.
The latest P/B ratio of Amic Forging as of 10-Nov-2026 is 9.37.
The 52-week high of Amic Forging is ₹2,605 and the 52-week low is ₹1,065.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Amic Forging is ₹142 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Amic Forging Ltd is a average quality company.
The key valuation ratios of Amic Forging Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Amic Forging Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Amic Forging Ltd
The company was originally incorporated on June 19, 2007 as a private limited company in the name of ‘Kali Mata Forging Private Limited’ under the provisions of the Companies Act, 1956 with the Registrar of Companies, West Bengal. Further, it changed its name from ‘Kali Mata Forging Private Limited’ to ‘Amic Forging Private Limited’ through a special resolution passed by its shareholders in an Extra Ordinary General Meeting held on January 02, 2017. The registrar of companies, Kolkata, issued a fresh certificate of incorporation dated January 09, 2017. Subsequently, pursuant to a special resolution of its Shareholders passed in the Extra Ordinary General Meeting held on January 04, 2023 the company was converted from a private limited company to public limited company and the name of the company was changed to ‘Amic Forging Limited’ and a fresh certificate of incorporation consequent to conversion was issued on August 09, 2023 by the Registrar of Companies, Kolkata.
The company is a manufacturer in forging industry and is engaged in manufacturing of forged Components catering to various industries. It manufacture precision machined components as per customer specifications and International Standard catering to the requirements of various industry such as Heavy Engineering, Steel Industry, Oil & Gas, Petrochemicals, Chemicals, Refineries, Thermal Power, Nuclear Power, Hydro Power, Cement Industry, Sugar and other related industries. The company has expertise in manufacturing different forging components as per international standards like AISI, BS, IS, DIN etc. Some of its common running components are Rounds, Shafts, Blanks and complete finished engineering, spare parts e.g. Gear coupling, Hub, Round, Flange, other all kinds of engineering spares as per customer specifications. These products are mainly manufactured in carbon steel, alloy steel, stainless steel, Nickel and Tools Alloys.
The company has a state-of-the-art forging facilities and machining capabilities to cater to the requirements of its domestic & international customers. By integrating several processes under one facility, the company is in position to minimise cost and lead time. The company has its well established design center with latest 3D software and highly trained technicians. It has earned its name in a short span of time because of committed delivery and premium quality product. The company’s product diversity helps the company to maintain an edge over competition, since the company can provide customized and specialized solutions to its customers. Further, the company is planning to expand via backward integration with starting the manufacturing of Steel Melting & Ingot Casting this backward integration would increase its product base and also increase its output due to easily availability of raw material. With a large infrastructure, zero tolerance quality policies and an energetic team of experts, the company makes sure that it can fulfil any special customer requirements for various critical product applications.
Business area of the company
The company is a leading manufacturer of Open Forgings from India. It manufactures precision machined components duly heat treaded as per customer specifications and International Standard catering to the requirements of Heavy Engineering, Steel Industry, Oil & Gas, Petrochemicals, Chemicals, Refineries, Thermal Power, Nuclear Power, Hydro Power, Cement Industry, Sugar and other related industries. It expertise in manufacturing different forging components as per international standards like AISI, BS, IS, DIN etc. Some of common running components are Rounds, Shafts, Blanks and complete finished engineering, spare parts e.g. Gear coupling, Hub, Round, Flange, other all kinds of engineering spares as per customer specifications. These products are mainly manufactured in carbon steel, alloy steel, stainless steel, Nickel and Tools Alloys.
Key events
- 2007: Incorporation of the company in the name and style of ‘Kali Mata Forging Private Limited’.
- 2017: The company’s name was changed from ‘Kali Mata Forging Private Limited’ to ‘Amic Forging Private Limited’.
- 2021: Awarded as Technology Friendly Firm Award by Confederation of West Bengal Trade Associations.
- 2022: Among Top-3 Open-Die Forging Manufacturers in India in Terms of Capacity with Fully Integrated Infrastructure in Tata Growth Shop- Vendor Conclave.
- 2023: The company converted from Private Limited to a Public Limited Company.
- 2023: The company achieved a Turnover of Rs 100 crore for the First time since incorporation.
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