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Ganga Forging

GANGAFORGE NSE
₹1.39 up 0.02 (1.46%)
Market Cap
₹46.84 Cr

Ganga Forging (GANGAFORGE) share price was ₹1.37 at the 28 Oct 2026 close; market capitalisation ₹46.17 Cr; sector Castings, Forgings & Fastners. The share price fell 62.6% over the year to 28 Oct 2026 (adjusted for splits and bonuses). In the Jun 2026 quarter, revenue fell 7.2% year on year to ₹7.19 Cr and net profit was ₹1.06 Cr, against −₹0.29 Cr a year earlier (compared with Jun 2025). Promoters held 35.51% of Ganga Forging in Sep 2026, unchanged from Jun 2026. Its Tapetide Score is 33/100 (Poor) as of 28 Oct 2026.

Close 28 Oct 2026 ₹1.37 −2.11 −60.63% 1Y

Key Fundamentals

MicrocapIndustrial ProductsCapital Goods
Market Cap
₹46.84 Cr
EBITDA
−₹1.90 Cr
Return on Equity
-12.82%
Debt to Equity
0.71
Book Value
₹1.82
EPS (TTM)
−₹0.07
52W High
₹4.10
52W Low
₹1.34

Price-based figures as of 29 Oct 2026, 10:47 IST · EPS basis: Standalone · TTM

Peer Comparison

Industrials › Castings, Forgings & Fastners › Castings & Forgings

PTC Industries
₹24,200.00288.8536,282 Cr11.600.00%6.74%8.00%733 Cr125 Cr
AIA Engineering
₹3,598.4026.5233,580 Cr4.180.45%15.79%19.94%4,974 Cr1,264 Cr
Happy Forgings
₹1,786.9051.4816,869 Cr7.930.22%14.17%18.95%1,674 Cr327 Cr
Balu Forge Industries
₹445.0519.565,403 Cr3.390.03%16.24%19.83%1,210 Cr268 Cr
Steelcast
₹345.9038.653,501 Cr8.860.13%21.99%28.56%457 Cr91 Cr
Amic Forging
—33.002,466 Cr9.290.00%13.29%18.66%104 Cr26 Cr
Ganga Forging (this company)
₹1.39—47 Cr0.760.00%-12.82%-7.10%36 Cr-2 Cr
Median 7 companies₹1,115.9835.835,403 Cr7.930.03%14.17%18.95%733 Cr125 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the live price; other metrics are as reported in filings. A dash means the figure is not published for that company. 1 company is not shown because they are not listed on an exchange we cover.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

33 Poor
Overall score

Data confidence 91/100

surveillance:ASM1

Category scores

Quality Poor 28
Returns, margins, earnings quality 22% weight
Valuation Average 54
Cheap vs sector & own history 24% weight
Growth Poor 15
Sales & profit trajectory 9% weight
Financial Health Poor 20
Solvency, leverage, coverage 9% weight
Momentum Poor 3
Trend strength, vol-adjusted 12% weight
Ownership Weak 39
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company's working capital requirements have reduced from 113 days to 82.3 days

Weaknesses

6
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 9.16% over past five years.
  • Promoter holding is low: 35.5%
  • Company has a low return on equity of -4.16% over last 3 years.
  • Company might be capitalizing the interest cost
  • Promoter holding has decreased over last 3 years: -23.8%

Technical Indicators

Oscillators

Bullish

Bearish
2
Neutral
3
Bullish
4

Overall

Bearish

Bearish
12
Neutral
3
Bullish
4

Moving Averages

Bearish

Bearish
10
Neutral
0
Bullish
0

Growth Rate

Revenue Growth
-17.51% lower than 3Y

change over 1 year

Net Income Growth
-717%

change over 1 year

Cash Flow Change
109%

change over 1 year

EBITDA Margin Change
-194%

change over 1 year Operating margin 9.32% · Jun 2026

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
9.86
8.57
8.55
10.24
8.51
11.51
11.67
11.53
7.75
8.27
8.88
10.73
7.19
Expenses
9.34
8.03
7.91
9.44
7.92
10.92
11.18
10.95
7.81
10.61
8.48
10.83
6.52
Operating Profit
0.52
0.54
0.64
0.8
0.59
0.59
0.49
0.58
-0.06
-2.34
0.4
-0.1
0.67
OPM %
5.27%
6.3%
7.49%
7.81%
6.93%
5.13%
4.2%
5.03%
-0.77%
-28.3%
4.5%
-0.93%
9.32%
Other Income
0
0.03
0.01
0.07
0.19
0.15
0.31
-0.01
0.37
0.01
0.12
0.04
0.79
Interest
0.16
0.18
0.22
0.29
0.29
0.23
0.22
0.22
0.23
0.23
0.19
0.28
0.21
Depreciation
0.22
0.22
0.22
0.34
0.25
0.27
0.27
0.29
0.27
0.28
0.28
0.35
0.29
PBT
0.14
0.17
0.21
0.24
0.24
0.24
0.31
0.06
-0.19
-2.84
0.05
-0.69
0.96
Tax %
14.29%
-29.41%
-9.52%
108.33%
-20.83%
-12.5%
12.9%
366.67%
47.37%
3.52%
20%
-33.33%
-10.42%
Net Profit
0.12
0.22
0.23
-0.02
0.29
0.28
0.27
-0.15
-0.29
-2.94
0.04
-0.46
1.06
EPS (₹)
0
0.01
0.01
0
0.01
0.01
0.01
0
-0.01
-0.09
0
-0.01
0.03
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2011Mar 2012Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
8.98
17.36
24.87
27.88
23.64
22.98
28.83
33.41
37.21
43.22
35.62
35.07
Expenses
8.15
16.22
22.9
25.53
24.39
21.28
26.28
31.41
34.71
40.94
37.73
36.44
Operating Profit
0.83
1.14
1.97
2.35
-0.75
1.7
2.55
2
2.5
2.28
-2.11
-1.37
OPM %
9.24%
6.57%
7.92%
8.43%
-3.17%
7.4%
8.84%
5.99%
6.72%
5.28%
-5.92%
-3.91%
Other Income
0.01
0.02
0.03
0.17
0.1
0.1
1.26
0.57
0.1
0.64
0.54
0.96
Interest
0.33
0.46
0.79
1.12
1.27
0.79
0.95
0.81
0.85
0.98
0.93
0.91
Depreciation
0.3
0.41
0.5
0.74
0.88
0.87
0.88
0.88
1
1.07
1.19
1.2
PBT
0.21
0.29
0.71
0.66
-2.8
0.14
1.98
0.88
0.75
0.87
-3.69
-2.52
Tax %
42.86%
72.41%
35.21%
21.21%
-24.64%
-85.71%
47.47%
-88.64%
41.33%
28.74%
-0.81%
—
Net Profit
0.11
0.09
0.46
0.52
-2.12
0.25
1.03
1.66
0.44
0.61
-3.65
-2.3
EPS (₹)
0.85
0.69
0.02
0.02
-0.08
0.01
0.04
0.06
0.01
0.02
-0.11
-0.07
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2011Mar 2012Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
0.35
0.35
5.57
7.95
7.95
10.6
10.6
10.6
13.42
13.48
13.48
Reserves
0.87
0.96
3.02
6.17
4.05
0.12
1.05
2.74
17.99
18.71
15.02
Borrowings
4.37
2.84
7.83
12.67
11.57
10.54
11.67
14.3
9.98
16.58
20.11
Other Liabilities
2.7
5.42
8.75
8.47
9.48
9.69
7.73
7.08
4.92
9.91
11.88
Total Liabilities
8.29
9.57
25.17
35.26
33.05
30.95
31.05
34.72
46.31
58.68
60.49
Fixed Assets
1.95
1.89
9.34
15.68
15.05
14.55
13.9
15.55
16.48
17.79
17.55
CWIP
0
0
0
0
0.36
0
2.21
0.75
0
0.39
2.87
Investments
0
0
0
0
0
0
0
0
0
0
0
Other Assets
6.34
7.68
15.83
19.58
17.64
16.4
14.94
18.42
29.83
40.5
40.07
Total Assets
8.29
9.57
25.17
35.26
33.05
30.95
31.05
34.72
46.31
58.68
60.49
Figures in ₹ Crores

Cash Flow

Particulars Mar 2011Mar 2012Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
0
—
0
-1.83
2.35
1.98
1.33
-1.09
-10.64
-4.1
0.36
Investing
0
—
0
-6.91
-0.6
-0.03
-1.69
-0.56
-1.16
-2.21
-3.15
Financing
0
—
0
8.81
-1.76
-1.83
0.19
1.81
12.47
5.78
2.59
Net Cash Flow
0
—
0
0.07
-0.02
0.12
-0.17
0.17
0.68
-0.53
-0.2
Free Cash Flow
0
—
0
-8.74
1.75
1.67
-0.37
-1.65
-11.81
-6.33
-2.81
CFO/OP
0
—
0
-69
-313
124
52
-51
-426
-180
-25
Figures in ₹ Crores

Ratios

Particulars Mar 2011Mar 2012Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
144
97.14
119
120
136
115
61.02
62.38
83.08
67.65
58.31
Inventory Days
155
87.56
133
—
—
205
181
182
245
244
267
Days Payable
151
159
163
—
—
184
82.43
75.71
29.39
80.58
116
Cash Conversion Cycle
149
25.29
89.31
120
136
136
160
169
299
231
209
Working Capital Days
56.5
0.84
-0.59
38.23
-5.4
12.39
29.88
25.78
162
95.94
82.28
ROCE %
—
15.4%
—
7.5%
-6.08%
4.33%
9.78%
4.67%
4.61%
3.17%
-6.43%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Ganga Forging insights

55 extracted metrics + investor summaries across FY11–FY27.

Shareholding Pattern

Public61.67%Others2.81%Promot.35.51%As ofSep 2026

Documents

1
Outcome of Board Meeting 8 Sep 2026
2
Outcome of Board Meeting 21 Jul 2026
3
Outcome of Board Meeting 18 Jul 2026
4
Outcome of Board Meeting 18 Jul 2026
5
Outcome of Board Meeting 29 May 2026

Frequently Asked Questions about Ganga Forging

What does Ganga Forging Ltd do?
Incorporated in 1988, Ganga Forging Ltd is engaged in the business of production, sale, and job work of forging items.[1]
Where is Ganga Forging Ltd (GANGAFORGE) listed?
Ganga Forging Ltd trades as GANGAFORGE on the NSE.
Which sector does Ganga Forging Ltd belong to?
Ganga Forging Ltd is classified under the Castings, Forgings & Fastners sector, in the Castings & Forgings industry.
What is the market capitalisation of Ganga Forging Ltd?
Ganga Forging Ltd has a market capitalisation of ₹46.84 Cr as of 29 Oct 2026, which places it in the Small Cap band.
What is the 52-week high and low of Ganga Forging Ltd?
Over the last 52 weeks Ganga Forging Ltd has traded between ₹1.34 and ₹4.1 as of 29 Oct 2026.
What is the Return on Equity (ROE) of Ganga Forging Ltd?
Ganga Forging Ltd reported a return on equity of -12.82%. Its debt-to-equity ratio is 0.71.

Company Information

Incorporated in 1988, Ganga Forging Ltd is engaged in the business of production, sale, and job work of forging items.[1]

Website gangaforging.com
CEO Mr. Hiralal Mahidas Tilva
Employees 51
Listed 2021-07-06
Face Value ₹ 1
Shares Outstanding 33,70,05,575

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