Ganga Forging Limited (GANGAFORGE) - Net Assets

Latest as of September 2025: Rs289.59 Million INR ≈ $3.13 Million USD

Based on the latest financial reports, Ganga Forging Limited (GANGAFORGE) has net assets worth Rs289.59 Million INR (≈ $3.13 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs592.02 Million ≈ $6.40 Million USD) and total liabilities (Rs302.43 Million ≈ $3.27 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Ganga Forging Limited liquidity resilience to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Rs289.59 Million
% of Total Assets	48.92%
Annual Growth Rate	25.45%
5-Year Change	165.91%
10-Year Change	834.49%
Growth Volatility	46.58

Ganga Forging Limited - Net Assets Trend (2013–2025)

This chart illustrates how Ganga Forging Limited's net assets have evolved over time, based on quarterly financial data. Also explore total assets of Ganga Forging Limited for the complete picture of this company's asset base.

Annual Net Assets for Ganga Forging Limited (2013–2025)

The table below shows the annual net assets of Ganga Forging Limited from 2013 to 2025. For live valuation and market cap data, see Ganga Forging Limited stock valuation.

Year	Net Assets	Change
2025-03-31	Rs321.89 Million ≈ $3.48 Million	+2.47%
2024-03-31	Rs314.13 Million ≈ $3.40 Million	+135.58%
2023-03-31	Rs133.34 Million ≈ $1.44 Million	+14.46%
2022-03-31	Rs116.50 Million ≈ $1.26 Million	-3.76%
2021-03-31	Rs121.05 Million ≈ $1.31 Million	+0.89%
2020-03-31	Rs119.98 Million ≈ $1.30 Million	-14.99%
2019-03-31	Rs141.13 Million ≈ $1.53 Million	+64.30%
2018-03-31	Rs85.90 Million ≈ $928.97K	+118.60%
2017-03-31	Rs39.30 Million ≈ $424.96K	+14.08%
2016-03-31	Rs34.45 Million ≈ $372.52K	+7.91%
2015-03-31	Rs31.92 Million ≈ $345.20K	+17.08%
2014-03-31	Rs27.26 Million ≈ $294.84K	+28.67%
2013-03-31	Rs21.19 Million ≈ $229.15K	--

Equity Component Analysis

This analysis shows how different components contribute to Ganga Forging Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have decreased by 18.1% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (March 2025)

Component	Amount	Percentage
Retained Earnings	Rs12.95 Million	4.02%
Common Stock	Rs134.80 Million	41.88%
Other Comprehensive Income	Rs30.59 Million	9.50%
Other Components	Rs143.55 Million	44.60%
Total Equity	Rs321.89 Million	100.00%

Ganga Forging Limited Competitors by Market Cap

The table below lists competitors of Ganga Forging Limited ranked by their market capitalization.

Company	Market Cap
Enterprise Metals Ltd AU:ENT	$4.23 Million
GoldOn Resources Ltd V:GLD	$4.23 Million
ADDvise Group AB A ST:ADDV-A	$4.23 Million
ABM International Limited NSE:ABMINTLLTD	$4.23 Million
Pensionbee Group PLC LSE:PBEE	$4.23 Million
Madhucon Projects Limited NSE:MADHUCON	$4.22 Million
Autonomix Medical, Inc. Common Stock NASDAQ:AMIX	$4.22 Million
Hopening SA PA:MLHPE	$4.22 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Ganga Forging Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 314,129,080 to 321,893,000, a change of 7,763,920 (2.5%).
Net income of 6,131,000 contributed positively to equity growth.
Share repurchases of 1,633,000 reduced equity.
New share issuances of 1,633,000 increased equity.
Other comprehensive income decreased equity by 1,616,670.
Other factors increased equity by 3,249,590.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	Rs6.13 Million	+1.9%
Share Repurchases	Rs1.63 Million	-0.51%
Share Issuances	Rs1.63 Million	+0.51%
Other Comprehensive Income	Rs-1.62 Million	-0.5%
Other Changes	Rs3.25 Million	+1.01%
Total Change	Rs-	2.47%

Book Value vs Market Value Analysis

This analysis compares Ganga Forging Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 1.21x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
The price-to-book ratio has decreased from 14.50x to 1.21x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2013-03-31	Rs0.20	Rs2.90	x
2014-03-31	Rs0.26	Rs2.90	x
2015-03-31	Rs0.30	Rs2.90	x
2016-03-31	Rs0.33	Rs2.90	x
2017-03-31	Rs0.37	Rs2.90	x
2018-03-31	Rs0.81	Rs2.90	x
2019-03-31	Rs1.45	Rs2.90	x
2020-03-31	Rs1.13	Rs2.90	x
2021-03-31	Rs1.14	Rs2.90	x
2022-03-31	Rs1.10	Rs2.90	x
2023-03-31	Rs1.26	Rs2.90	x
2024-03-31	Rs2.35	Rs2.90	x
2025-03-31	Rs2.39	Rs2.90	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Ganga Forging Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 1.90%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 1.42%
• Asset Turnover: 0.74x
• Equity Multiplier: 1.82x
Recent ROE (1.90%) is below the historical average (6.82%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2013	15.16%	2.17%	1.72x	4.05x	Rs1.09 Million
2014	22.28%	3.84%	1.47x	3.96x	Rs3.35 Million
2015	14.59%	3.19%	1.22x	3.77x	Rs1.47 Million
2016	7.33%	1.45%	1.30x	3.91x	Rs-918.60K
2017	12.34%	2.75%	1.16x	3.85x	Rs919.50K
2018	5.39%	1.87%	0.98x	2.93x	Rs-3.96 Million
2019	3.69%	1.89%	0.78x	2.49x	Rs-8.90 Million
2020	-17.63%	-9.21%	0.69x	2.75x	Rs-33.15 Million
2021	0.89%	0.47%	0.72x	2.58x	Rs-11.03 Million
2022	8.88%	3.59%	0.93x	2.66x	Rs-1.31 Million
2023	12.43%	4.96%	0.96x	2.60x	Rs3.24 Million
2024	1.41%	1.19%	0.80x	1.47x	Rs-26.98 Million
2025	1.90%	1.42%	0.74x	1.82x	Rs-26.06 Million

Industry Comparison

This section compares Ganga Forging Limited's net assets metrics with peer companies in the Metal Fabrication industry.

Industry Context

Industry: Metal Fabrication
Average net assets among peers: $2,660,076,059
Average return on equity (ROE) among peers: 17.38%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Ganga Forging Limited (GANGAFORGE)	Rs289.59 Million	15.16%	1.04x	$4.23 Million
Aeroflex Industries Limited (AEROFLEX)	$3.42 Billion	15.33%	0.25x	$436.02 Million
Alicon Castalloy Limited (ALICON)	$231.86 Million	32.52%	4.67x	$123.28 Million
BELL AGROMACHINA ORD T (BSE) (BALUFORGE)	$1.98 Billion	19.69%	0.88x	$710.75 Million
DCM Limited (DCM)	$869.40 Million	-1.79%	4.76x	$16.57 Million
DEE Development Eng Ltd (DEEDEV)	$4.54 Billion	0.00%	0.84x	$312.36 Million
D P Wires Limited (DPWIRES)	$278.89 Million	18.01%	1.92x	$29.98 Million
Gandhi Special Tubes Limited (GANDHITUBE)	$1.02 Billion	24.96%	0.10x	$109.45 Million
Gravita India Limited (GRAVITA)	$6.02 Billion	33.42%	1.00x	$1.28 Billion
Happy Forgings Limited (HAPPYFORGE)	$5.58 Billion	14.31%	0.37x	$1.38 Billion

About Ganga Forging Limited

NSE:GANGAFORGE India Metal Fabrication

Market Cap

$4.23 Million

Rs390.93 Million INR

Market Cap Rank

#28670 Global

#1615 in India

Share Price

Rs2.90

Change (1 day)

-1.02%

52-Week Range

Rs2.38 - Rs5.10

All Time High

Rs22.70