MM Forgings Limited
M M Forgings Limited, together with its subsidiaries, manufactures and sells steel forgings in India. The company offers sprocket, flange housing, connecting rod, rail forging, hub, knuckle, front axle beam, universal joint cross, steering and pivot arm, planetary wheel carrier, upper arm shaft, shifter fork, and rear axle spindle. It also provides yoke shaft, double yoke, crankshaft, link, yoke,… Read more
MM Forgings Limited (MMFL) - Net Assets
Latest net assets as of September 2025: ₹9.27 Billion INR
Based on the latest financial reports, MM Forgings Limited (MMFL) has net assets worth ₹9.27 Billion INR as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₹24.83 Billion) and total liabilities (₹15.56 Billion). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₹9.27 Billion |
| % of Total Assets | 37.35% |
| Annual Growth Rate | 14.81% |
| 5-Year Change | 83.19% |
| 10-Year Change | 219.19% |
| Growth Volatility | 4.7 |
MM Forgings Limited - Net Assets Trend (2006–2025)
This chart illustrates how MM Forgings Limited's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for MM Forgings Limited (2006–2025)
The table below shows the annual net assets of MM Forgings Limited from 2006 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | ₹8.92 Billion | +13.10% |
| 2024-03-31 | ₹7.89 Billion | +17.18% |
| 2023-03-31 | ₹6.73 Billion | +20.34% |
| 2022-03-31 | ₹5.60 Billion | +14.86% |
| 2021-03-31 | ₹4.87 Billion | +7.07% |
| 2020-03-31 | ₹4.55 Billion | +6.49% |
| 2019-03-31 | ₹4.27 Billion | +17.83% |
| 2018-03-31 | ₹3.63 Billion | +15.26% |
| 2017-03-31 | ₹3.15 Billion | +12.52% |
| 2016-03-31 | ₹2.80 Billion | +17.51% |
| 2015-03-31 | ₹2.38 Billion | +21.52% |
| 2014-03-31 | ₹1.96 Billion | +13.78% |
| 2013-03-31 | ₹1.72 Billion | +13.33% |
| 2012-03-31 | ₹1.52 Billion | +17.44% |
| 2011-03-31 | ₹1.29 Billion | +24.51% |
| 2010-03-31 | ₹1.04 Billion | +8.82% |
| 2009-03-31 | ₹954.23 Million | +9.15% |
| 2008-03-31 | ₹874.24 Million | +14.24% |
| 2007-03-31 | ₹765.29 Million | +18.22% |
| 2006-03-31 | ₹647.33 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to MM Forgings 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 52645000000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | ₹482.82 Million | 5.41% |
| Other Comprehensive Income | ₹8.92 Billion | 100.04% |
| Other Components | ₹40.44 Million | 0.45% |
| Total Equity | ₹8.92 Billion | 100.00% |
MM Forgings Limited Competitors by Market Cap
The table below lists competitors of MM Forgings Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
DOFRB
IS:DOFRB
|
$97.79 Million |
|
AurosTechnology Inc.
KQ:322310
|
$97.81 Million |
|
Sotkamo Silver AB
HE:SOSI1
|
$97.83 Million |
|
Freightcar America Inc
NASDAQ:RAIL
|
$97.96 Million |
|
PT Harum Energy Tbk
F:44H
|
$97.76 Million |
|
VitaSpring Biomedical Co. Ltd
PINK:VSBC
|
$97.73 Million |
|
NISSHIN GROUP HOLDINGS Company Limited
MU:NFU
|
$97.68 Million |
|
China Rare Earth Holdings Limited
PINK:CREQF
|
$97.65 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in MM Forgings Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 7,887,329,000 to 8,920,824,000, a change of 1,033,495,000 (13.1%).
- Net income of 1,218,060,000 contributed positively to equity growth.
- Dividend payments of 193,126,000 reduced retained earnings.
- Share repurchases of 241,408,000 reduced equity.
- New share issuances of 241,408,000 increased equity.
- Other comprehensive income increased equity by 1,024,568,000.
- Other factors decreased equity by 1,016,007,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₹1.22 Billion | +13.65% |
| Dividends Paid | ₹193.13 Million | -2.16% |
| Share Repurchases | ₹241.41 Million | -2.71% |
| Share Issuances | ₹241.41 Million | +2.71% |
| Other Comprehensive Income | ₹1.02 Billion | +11.49% |
| Other Changes | ₹-1.02 Billion | -11.39% |
| Total Change | ₹- | 13.10% |
Book Value vs Market Value Analysis
This analysis compares MM Forgings 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: 2.35x
- 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 32.46x to 2.35x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2006-03-31 | ₹13.41 | ₹435.15 | x |
| 2007-03-31 | ₹15.85 | ₹435.15 | x |
| 2008-03-31 | ₹18.11 | ₹435.15 | x |
| 2009-03-31 | ₹19.76 | ₹435.15 | x |
| 2010-03-31 | ₹21.51 | ₹435.15 | x |
| 2011-03-31 | ₹26.78 | ₹435.15 | x |
| 2012-03-31 | ₹31.46 | ₹435.15 | x |
| 2013-03-31 | ₹35.65 | ₹435.15 | x |
| 2014-03-31 | ₹40.55 | ₹435.15 | x |
| 2015-03-31 | ₹49.28 | ₹435.15 | x |
| 2016-03-31 | ₹57.91 | ₹435.15 | x |
| 2017-03-31 | ₹65.15 | ₹435.15 | x |
| 2018-03-31 | ₹75.10 | ₹435.15 | x |
| 2019-03-31 | ₹88.49 | ₹435.15 | x |
| 2020-03-31 | ₹188.48 | ₹435.15 | x |
| 2021-03-31 | ₹100.90 | ₹435.15 | x |
| 2022-03-31 | ₹115.89 | ₹435.15 | x |
| 2023-03-31 | ₹139.39 | ₹435.15 | x |
| 2024-03-31 | ₹163.37 | ₹435.15 | x |
| 2025-03-31 | ₹185.06 | ₹435.15 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently MM Forgings 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): 13.65%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 7.99%
- • Asset Turnover: 0.64x
- • Equity Multiplier: 2.66x
- Recent ROE (13.65%) is below the historical average (15.81%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2006 | 18.27% | 7.13% | 1.11x | 2.31x | ₹53.55 Million |
| 2007 | 18.18% | 7.87% | 1.11x | 2.09x | ₹62.63 Million |
| 2008 | 16.50% | 7.55% | 0.87x | 2.52x | ₹56.83 Million |
| 2009 | 10.60% | 4.89% | 0.92x | 2.35x | ₹5.75 Million |
| 2010 | 10.03% | 6.57% | 0.65x | 2.33x | ₹324.50K |
| 2011 | 22.99% | 11.18% | 0.91x | 2.25x | ₹167.98 Million |
| 2012 | 17.62% | 7.64% | 1.03x | 2.24x | ₹115.70 Million |
| 2013 | 14.21% | 6.77% | 0.99x | 2.11x | ₹72.41 Million |
| 2014 | 14.97% | 7.13% | 1.09x | 1.93x | ₹97.40 Million |
| 2015 | 21.25% | 10.06% | 1.06x | 1.99x | ₹267.56 Million |
| 2016 | 17.91% | 9.97% | 0.93x | 1.92x | ₹221.29 Million |
| 2017 | 13.80% | 9.08% | 0.81x | 1.87x | ₹119.62 Million |
| 2018 | 16.71% | 9.49% | 0.76x | 2.31x | ₹243.36 Million |
| 2019 | 18.45% | 8.44% | 0.77x | 2.86x | ₹361.14 Million |
| 2020 | 9.21% | 5.45% | 0.68x | 2.49x | ₹-35.78 Million |
| 2021 | 9.45% | 6.12% | 0.59x | 2.60x | ₹-26.57 Million |
| 2022 | 16.26% | 7.98% | 0.81x | 2.53x | ₹350.40 Million |
| 2023 | 19.01% | 8.75% | 0.88x | 2.47x | ₹606.48 Million |
| 2024 | 17.12% | 8.64% | 0.79x | 2.50x | ₹561.66 Million |
| 2025 | 13.65% | 7.99% | 0.64x | 2.66x | ₹325.98 Million |
Industry Comparison
This section compares MM Forgings Limited's net assets metrics with peer companies in the Metal Fabrication industry.
Industry Context
- Industry: Metal Fabrication
- Average net assets among peers: $11,532,845,548
- Average return on equity (ROE) among peers: 12.68%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| MM Forgings Limited (MMFL) | ₹9.27 Billion | 18.27% | 1.68x | $97.76 Million |
| Aeroflex Industries Limited (AEROFLEX) | $2.93 Billion | 14.24% | 0.28x | $116.03 Million |
| Alicon Castalloy Limited (ALICON) | $600.14 Million | -19.18% | 4.77x | $36.21 Million |
| BELL AGROMACHINA ORD T (BSE) (BALUFORGE) | $3.05 Million | 62.35% | 0.09x | $161.93 Million |
| DCM Limited (DCM) | $-19.50 Million | 0.00% | 0.00x | $4.19 Million |
| DEE Development Eng Ltd (DEEDEV) | $80.06 Billion | 5.45% | 0.99x | $66.43 Million |
| D P Wires Limited (DPWIRES) | $2.48 Billion | 8.94% | 0.20x | $5.66 Million |
| Gandhi Special Tubes Limited (GANDHITUBE) | $2.01 Billion | 19.21% | 0.10x | $43.04 Million |
| Ganga Forging Limited (GANGAFORGE) | $34.45 Million | 7.33% | 2.91x | $2.79 Million |
| Gravita India Limited (GRAVITA) | $20.78 Billion | 15.04% | 0.21x | $509.26 Million |
| Happy Forgings Limited (HAPPYFORGE) | $6.45 Billion | 13.40% | 0.36x | $302.09 Million |