Maiden Forgings Ltd

Analyst/Investor meeting

• Meeting held virtually on 20 August 2026; attendees listed.
• No UPSI shared; no company presentation during interactions.

Sale of vacant land and use of proceeds

• Ghaziabad vacant land parcel at C-10 sold for ₹12.90 crore.
• Proceeds will be utilised for expansion of the Murad Nagar unit.
• Sale follows earlier announcement of a new facility at Bhojpur, Ghaziabad.

Analyst / investor meeting update

• Meeting held virtually at 04:00 PM on 28 July 2026; attendees listed.
• Note: Interactions conducted as Q&A; no presentation by company officials.
• No Unpublished Price Sensitive Information (UPSI) was shared during interactions.

Q1 FY2026-27 update

• Revenue rose 24.78% YoY to ₹64.96 crore in Q1 FY2026-27.
• Total quantity grew about 22.23% to 9,750 MT.
• Growth driven by marketing initiatives and new product additions.
• Regulatory disclosure under SEBI LODR Regulation 30.

Dematerialisation compliance status

• RTA confirmed compliance under Reg 74(5) for dematerialisation requests in the quarter.
• Confirmation certificate submitted to the exchange for recording.

Business overview

• Manufactures bright steel bars, wires, and pneumatic nails across three Ghaziabad facilities.
• Expanding into higher-value stainless steel and induction wire products.

Operational highlights

• Highest annual production reached 35,546 MT in FY26.
• Added CEMILAC registration and OFB Muradnagar registration for defence supplies.
• Won first B2G order from HAL and added over 40 new clients in FY26.
• Acquired 4-acre land for plant consolidation and future expansion.

Financial performance

• FY26 total income rose 8.5% to ₹233.96 crore.
• FY26 EBITDA was ₹17.22 crore, with 7.36% margin.
• FY26 PAT was ₹5.02 crore, with 2.15% margin.
• H2 FY26 revenue grew 17.5% YoY to ₹122.60 crore.
• H2 FY26 PAT rose 46.4% YoY to ₹2.93 crore.

Capital structure

• Net worth increased to ₹81.13 crore in FY26.
• Total debt rose to ₹69.32 crore, including ₹52.22 crore short-term borrowings.
• Debt-to-equity stood at 0.85x in FY26.
• Cash and bank balance was ₹2.16 crore at FY26 end.

Strategy and outlook

• Targets higher-margin products, export growth, and more in-house manufacturing.
• Plans forward integration, digital sales expansion, and B2G defence opportunities.
• New consolidated facility is expected to support growth over the next 5-7 years.
• Solar plant installation is planned to reduce energy costs.

Risks

• Management highlighted competition, economic conditions, and execution risks.
• Raw material availability and price volatility remain important operating risks.

Governance

• Promoter holding was 71.97%, with public holding at 28.03%.
• No board or senior management changes were disclosed in this chunk.