Home / Business and Economy / MM Forgings Q3 Results: Steady EBITDA, Stronger Outlook
MM Forgings Q3 Results: Steady EBITDA, Stronger Outlook
18 Feb
Summary
- Q3 FY26 EBITDA at ₹71.6 crore met expectations, slight year-on-year decrease.
- Revenue and EBITDA projected to grow at 13% and 18% CAGR respectively.
- BUY rating maintained with a revised target price of ₹600.
MM Forgings announced its Q3 FY26 financial results, posting an EBITDA of ₹71.6 crore, which was broadly in line with projections. The company foresees a robust growth trajectory, with revenue and EBITDA expected to achieve a compound annual growth rate of 13% and 18% respectively between FY26 and FY28.
This positive outlook is underpinned by anticipated improvements in the domestic M&HCV sector and a projected rebound in the overseas commercial vehicle market. MM Forgings also expects higher-than-industry revenue growth due to new product introductions and an increased focus on machining and heavy forging.
Despite a slight contraction in gross margin due to an adverse product mix, the company's financial performance remains strong. Analysts have reaffirmed their BUY rating on the stock, setting a revised target price of ₹600, reflecting confidence in the company's future earnings potential.
