Balu Forge Industries Q1 Results Total Revenue ₹175.31 crores & Operating Income ₹42.41 crores

Balu Forge Industries Q1 Results: In the first quarter of the fiscal year, BALU Forge Industries reported several financial metrics. Their total revenue was ₹175.31 crores, which is an increase of 55.99% compared to the same quarter last year (June 2023), showing strong year-over-year (YoY) growth. The revenue also grew by 8.77% from the previous quarter (March 2023), reflecting positive quarter-on-quarter (QoQ) performance.

Balu Forge Industries’ selling, general, and administrative expenses amounted to ₹5.07 crores. This represents a significant YoY increase of 194.78% from ₹1.72 crores in June 2023. Compared to the previous quarter’s ₹3.18 crores, these expenses rose by 26.07%.

Balu Forge Industries’ Depreciation and amortization costs for the quarter were ₹0.80 crores, up 74.03% YoY from ₹0.46 crores last year. This is also a 28.22% increase from the previous quarter's ₹0.44 crores. Other operating expenses were ₹11.09 crores, which is 18.27% higher YoY from ₹9.38 crores. However, these expenses decreased by 31.41% QoQ from ₹6.09 crores.

Balu Forge Industries’ total operating expenses stood at ₹132.90 crores, showing a 46.13% YoY rise. Operating income was ₹42.41 crores, marking a 97.81% YoY increase and a 25.60% QoQ rise. Net income before taxes reached ₹41.91 crores, up 119.84% YoY and 21.09% QoQ. Net income was ₹34.17 crores, which is 104.96% higher YoY and 20.82% up QoQ. The diluted normalized earnings per share (EPS) was ₹3.26, reflecting a 63.00% YoY increase and an 18.98% QoQ rise.

Here's a simplified summary of BALU Forge Industries' Q1 financial results:

Source: Here 

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Balu Forge Industries Q1 Results

For the quarter ended on June 30, 2024, Balu Forge Industries reported a revenue from operations of ₹17,530.90 lakhs, which is higher compared to ₹16,117.11 lakhs in the same quarter of the previous year. The total income, which includes both revenue and other income, amounted to ₹17,636.73 lakhs this quarter, up from ₹16,555.38 lakhs a year ago. Expenses for this quarter were ₹13,445.28 lakhs, a slight increase from ₹13,093.99 lakhs in the previous year. This increase in expenses was due to higher costs in materials consumed, although some of these costs were offset by changes in inventory and lower finance costs.

The profit before tax for this quarter was ₹4,191.45 lakhs, compared to ₹3,461.39 lakhs last year. After accounting for taxes, which included current and deferred taxes, the net profit was ₹3,416.71 lakhs, up from ₹2,827.88 lakhs in the same period last year. The company’s total comprehensive income, which includes both profit and other comprehensive income items, was ₹3,412.20 lakhs for the quarter. The earnings per share were ₹3.33 basic and ₹3.26 diluted, showing an increase from the previous year’s figures. The paid-up equity share capital remains the same at ₹10,259.19 lakhs, with the company’s financial performance showing improvement in both revenue and net profit.

Here’s a summary of the financial results in lakhs, except for the earnings per share which are shown in Rupees per share:

Balu Forge Industries Stock Performance

Balu Forge Industries is a company with a market value of ₹7,775 crores, meaning it's worth that much in total on the stock market. Each share of the company is priced at ₹741. Over time, the stock's highest price was ₹867, and the lowest was ₹155. The company's Price-to-Earnings (P/E) ratio is 69.9, indicating how much investors are willing to pay for each rupee of earnings. The book value per share is ₹51.7, showing the company's net worth per share.

Here is the information in table format:

Quarterly Results 

For Balu Forge Industries, the financial data shows solid growth from December 2023 to June 2024. In December 2023, the company earned Rs. 147 crores in sales and had a net profit of Rs. 25 crores. By March 2024, sales increased to Rs. 161 crores, with a net profit of Rs. 28 crores. In June 2024, sales further rose to Rs. 175 crores, and net profit reached Rs. 34 crores. 

Here’s the quarterly financial data for December 2023, March 2024, and June 2024:

About Balu Forge Industries 

Balu Forge Industries has been a leading name in crankshaft manufacturing since 1990. Known for quality and excellence, Balu offers a broad range of crankshafts for various applications, including automotive, agricultural, marine, and industrial. They have a strong presence in over 80 countries and were ISO/TS16949:2009 accredited by TUV Nord Cert GmbH in 2012, highlighting their competitive edge in crankshaft manufacturing.

Balu Forge Industries specializes in both fully finished and semi-finished forged crankshafts and components. They are known for their innovation, particularly in meeting new emission regulations and supporting new energy vehicles. The company uses the latest equipment, technologies, and skilled workforce, adhering to Six Sigma and 8D disciplines to ensure high-quality manufacturing.

Balu Forge Industries’ advanced manufacturing capabilities include CNC lines for precision and recently acquired machining lines from Poland (2006) and France (2011). This expansion has increased their production capacity to 30,000 crankshafts per month, with the ability to produce crankshafts up to 2.5 meters in length.