NSE: MMFL | BSE: 522241

Mid-range Performer

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318.15 8.10 (2.61%)

47.84% Fall from 52W High

24,749 NSE+BSE Volume

NSE 03 Sep, 2025 3:31 PM (IST)

1,536.1

Market Cap

Above industry Median

1.0

Beta 1Year

Average volatility

M M Forgings Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for MMFL, BSE:522241 M M Forgings Ltd.

M M Forgings Ltd.

18 Jul 2018

318.15

2.61%

MM Forgings

Buy: M M Forgings Ltd.

ICICI Securities Limited

ICICI Securities Ltd | Retail Equity Research MM Forgings (MMF) made an announcement of bonus shares on May 28, 2018. The ratio was one bonus share for every one existing equity share i.e. 1:1. The record date for the same is July 19, 2018 while the ex-date for the same is today i.e. July 18, 2018. Consequently, MMF's share price, as per yesterday's closing price, has dropped to | 682/share from | 1364/share. Hence, now our target price also stands revised to | 825/share (against earlier target of | 1650/share) post bonus issue of equity shares....

M M Forgings Ltd. is trading below all available SMAs

M M Forgings Ltd.

13 Jun 2018

318.15

2.61%

MM Forgings

Buy: M M Forgings Ltd.

ICICI Securities Limited

ICICI Securities Ltd | Retail Equity Research MM Forgings' (MMF) Q4FY18 revenue grew 65.6% YoY to | 199.5 crore, driven by both domestic (strong growth from CV segment) and export market (robust US Class 8 truck volumes) EBITDA margins declined 26 bps YoY, 140 bps QoQ to 19.4%, impacted by higher input cost (gross margin contracted 451 bps YoY, 756 bps QoQ). However, it was partly offset by lower other operational expenditure. Reported PAT grew 114.9% YoY to | 27.4 crore...

M M Forgings Ltd. has an average target of 430.00 from 1 broker.

M M Forgings Ltd.

18 Jan 2018

318.15

2.61%

M M Forgings Ltd.

Buy: M M Forgings Ltd.

CD Equisearch

To meet the growing customer demand, M M Forgings has recently allocated Rs 250 crs (Rs 50 crs for capacity expansion and Rs 200 crs for machining shop, export components, nts, new products and markets) to be completed by December 2018. The expansion cost will be 80% financed through debt and the rest through internal accruals and is expected to...

M M Forgings Ltd. has lost -46.67% in the last 1 Year

M M Forgings Ltd.

29 Nov 2017

318.15

2.61%

MM Forgings

Buy: M M Forgings Ltd.

ICICI Securities Limited

M M Forgings Ltd. is trading below all available SMAs

M M Forgings Ltd.

30 Sep 2016

318.15

2.61%

MM Forgings

M M Forgings Ltd.

ICICI Securities Limited

We recently met the management of MM Forgings (MMF) (earlier Madras Motors) and visited their plant to understand their business model. The company started its forging operations in 1974 and largely caters to the forging requirements of OEMs. MMF has three plants in India with a current capacity of 53,000 MT, which is expected to touch 65,000 MT in FY17E. The company is phasing out its Hammers (forging process) & moving towards more productive & margin accretive press forgings. MMF has diversified revenue mix geography-wise, with India, Europe & US...

M M Forgings Ltd. has lost -46.67% in the last 1 Year

M M Forgings Ltd.

13 May 2016

318.15

2.61%

M M Forgings Ltd

Buy: M M Forgings Ltd.

Target

Angel Broking

MM Forgings (MMFL)' numbers for 4QFY2016 have come in marginally below our estimates. Its top-line for the quarter de-grew by 1.7% yoy to Rs124cr, which is below our estimate of Rs129cr. The EBITDA declined by 4.5% yoy to Rs26cr while the EBITDA margin declined marginally by 60bp yoy to 20.5% (against our estimate of 21.0%). Further, the ..

M M Forgings Ltd. has an average target of 430.00 from 1 broker.

M M Forgings Ltd.

10 Nov 2015

318.15

2.61%

M M Forgings Ltd- Research Report

Buy: M M Forgings Ltd.

Angel Broking

For 2QFY2016, MM Forgings (MMFL) reported disappointing numbers on the topline and bottom-line fronts. The top-line during the quarter grew marginally by 1.8% yoy to Rs128cr. The raw material cost declined by 111bp yoy to 38.2% of sales, but the benefits were offset by an increase in employee and power costs. Employee and power costs rose by 162bp yoy and 17bp yoy to 11.1% and 10.4% of sales, respectively. As a result, the EBITDA margin witnessed a slight decline of 37bp yoy to 21.9%. The other income came in at Rs1.3cr vs Rs0.4cr in 2QFY2015. The net profit remained flat at Rs13cr. Sufficient capacity to cater to improving demand across the globe: MMFL is in the midst of increasing its capacity to 65,000MT, which should be in place by 4QFY2016. The company mainly caters to global markets (Europe and USA) with a focus on the commercial vehicle (CV) industry. The company is witnessing healthy demand from USA and we expect demand from the region to remain intact over the next 12-15 month period. We expect demand from Europe to be subdued in the near term and recover thereafter. Additionally, appreciation of the USD against the INR will provide a boost...

M M Forgings Ltd. is trading below all available SMAs

Is M M Forgings Ltd. worth buying?

57 Votes:

Buy 78.95%

Sell 7.02%

Hold 14.04%

RESEARCH REPORTS

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