Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹14.44, the stock trades at a trailing P/E ratio of 16.8x. Average trailing P/E is 20x in the Metals and Mining industry in India. Total returns to shareholders of 100% over the past three years. Annonce • Feb 02
El Forge Limited to Report Q3, 2026 Results on Feb 09, 2026 El Forge Limited announced that they will report Q3, 2026 results on Feb 09, 2026 Valuation Update With 7 Day Price Move • Jan 01
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to ₹17.36, the stock trades at a trailing P/E ratio of 19.6x. Average trailing P/E is 24x in the Metals and Mining industry in India. Total returns to shareholders of 122% over the past three years. Buy Or Sell Opportunity • Dec 29
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 31% to ₹13.11. The fair value is estimated to be ₹16.40, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹15.08, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 23x in the Metals and Mining industry in India. Total loss to shareholders of 53% over the past year. Annonce • Nov 05
El Forge Limited to Report Q2, 2026 Results on Nov 13, 2025 El Forge Limited announced that they will report Q2, 2026 results on Nov 13, 2025 Valuation Update With 7 Day Price Move • Sep 17
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹22.47, the stock trades at a trailing P/E ratio of 20.5x. Average trailing P/E is 24x in the Metals and Mining industry in India. Total loss to shareholders of 25% over the past year. Reported Earnings • Aug 15
First quarter 2026 earnings released: EPS: ₹0.19 (vs ₹0.23 in 1Q 2025) First quarter 2026 results: EPS: ₹0.19 (down from ₹0.23 in 1Q 2025). Revenue: ₹206.1m (up 21% from 1Q 2025). Net income: ₹3.93m (down 14% from 1Q 2025). Profit margin: 1.9% (down from 2.7% in 1Q 2025). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Aug 12
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹19.12, the stock trades at a trailing P/E ratio of 16.9x. Average trailing P/E is 23x in the Metals and Mining industry in India. Total loss to shareholders of 16% over the past year. Annonce • Aug 04
El Forge Limited to Report Q1, 2026 Results on Aug 11, 2025 El Forge Limited announced that they will report Q1, 2026 results on Aug 11, 2025 New Risk • Jul 15
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 8.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.4% average weekly change). Market cap is less than US$10m (₹485.1m market cap, or US$5.65m). Minor Risk Profit margins are more than 30% lower than last year (3.0% net profit margin). Valuation Update With 7 Day Price Move • Jul 04
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹24.04, the stock trades at a trailing P/E ratio of 21.3x. Average trailing P/E is 23x in the Metals and Mining industry in India. Total returns to shareholders of 12% over the past year. Reported Earnings • May 22
Full year 2025 earnings released: EPS: ₹1.13 (vs ₹34.99 in FY 2024) Full year 2025 results: EPS: ₹1.13 (down from ₹34.99 in FY 2024). Revenue: ₹767.2m (up 12% from FY 2024). Net income: ₹23.0m (down 97% from FY 2024). Profit margin: 3.0% (down from 104% in FY 2024). Annonce • May 21
El Forge Limited, Annual General Meeting, Jun 20, 2025 El Forge Limited, Annual General Meeting, Jun 20, 2025, at 12:00 Indian Standard Time. Location: 1a, sriperumbur high road, via singaperumal koil, appur village - 603204, kancheepuram, India New Risk • May 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹502.6m market cap, or US$5.88m). Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Large one-off items impacting financial results. Annonce • May 15
El Forge Limited to Report Q4, 2025 Results on May 21, 2025 El Forge Limited announced that they will report Q4, 2025 results on May 21, 2025 Reported Earnings • Feb 12
Third quarter 2025 earnings released: EPS: ₹0.27 (vs ₹0.14 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.27 (up from ₹0.14 in 3Q 2024). Revenue: ₹190.6m (up 25% from 3Q 2024). Net income: ₹5.57m (up 97% from 3Q 2024). Profit margin: 2.9% (up from 1.9% in 3Q 2024). Annonce • Jan 28
El Forge Limited to Report Q3, 2025 Results on Feb 07, 2025 El Forge Limited announced that they will report Q3, 2025 results on Feb 07, 2025 New Risk • Jan 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.0% average weekly change). Market cap is less than US$10m (₹633.7m market cap, or US$7.38m). Minor Risk Large one-off items impacting financial results. New Risk • Nov 18
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹640.8m market cap, or US$7.59m). Minor Risks Share price has been volatile over the past 3 months (7.7% average weekly change). Large one-off items impacting financial results. Board Change • Nov 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Non Executive & Independent Director S. Balakrishnan was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Annonce • Oct 23
El Forge Limited to Report Q2, 2025 Results on Oct 30, 2024 El Forge Limited announced that they will report Q2, 2025 results on Oct 30, 2024 Reported Earnings • Aug 03
First quarter 2025 earnings released: EPS: ₹0.23 (vs ₹0.24 in 1Q 2024) First quarter 2025 results: EPS: ₹0.23 (down from ₹0.24 in 1Q 2024). Net income: ₹4.59m (down 4.5% from 1Q 2024). Annonce • Aug 02
El Forge Limited, Annual General Meeting, Sep 25, 2024 El Forge Limited, Annual General Meeting, Sep 25, 2024, at 11:45 Indian Standard Time. Location: 1a, sriperumbur high road, via singaperumal koil, appur village - 603204, kancheepuram, India Annonce • Jul 26
El Forge Limited to Report Q1, 2025 Results on Aug 02, 2024 El Forge Limited announced that they will report Q1, 2025 results on Aug 02, 2024 Reported Earnings • May 25
Full year 2024 earnings released: EPS: ₹34.99 (vs ₹1.14 loss in FY 2023) Full year 2024 results: EPS: ₹34.99 (up from ₹1.14 loss in FY 2023). Net income: ₹711.2m (up ₹734.3m from FY 2023). Annonce • May 18
El Forge Limited to Report Q4, 2024 Results on May 24, 2024 El Forge Limited announced that they will report Q4, 2024 results at 12:15 PM, Indian Standard Time on May 24, 2024 Valuation Update With 7 Day Price Move • May 10
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₹15.05, the stock trades at a trailing P/E ratio of 25.8x. Average trailing P/E is 24x in the Metals and Mining industry in India. Total returns to shareholders of 83% over the past year. Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹15.40, the stock trades at a trailing P/E ratio of 26.4x. Average trailing P/E is 24x in the Metals and Mining industry in India. Total returns to shareholders of 105% over the past year. New Risk • Mar 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Negative equity (-₹596m). Market cap is less than US$10m (₹288.2m market cap, or US$3.46m). Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₹12.96, the stock trades at a trailing P/E ratio of 22.2x. Average trailing P/E is 21x in the Metals and Mining industry in India. Total returns to shareholders of 69% over the past year. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹10.23, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 23x in the Metals and Mining industry in India. Total loss to shareholders of 3.9% over the past year. Reported Earnings • Feb 08
Third quarter 2024 earnings released: EPS: ₹0.14 (vs ₹0.33 loss in 3Q 2023) Third quarter 2024 results: EPS: ₹0.14 (up from ₹0.33 loss in 3Q 2023). Revenue: ₹152.1m (up 1.9% from 3Q 2023). Net income: ₹2.83m (up ₹9.56m from 3Q 2023). Profit margin: 1.9% (up from net loss in 3Q 2023). Annonce • Jan 31
El Forge Limited to Report Q3, 2024 Results on Feb 07, 2024 El Forge Limited announced that they will report Q3, 2024 results at 12:15 PM, Indian Standard Time on Feb 07, 2024 New Risk • Jan 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Negative equity (-₹599m). Market cap is less than US$10m (₹284.7m market cap, or US$3.43m). Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Large one-off items impacting financial results. Reported Earnings • Nov 12
Second quarter 2024 earnings released: EPS: ₹0.19 (vs ₹0.43 loss in 2Q 2023) Second quarter 2024 results: EPS: ₹0.19 (up from ₹0.43 loss in 2Q 2023). Revenue: ₹177.9m (up 39% from 2Q 2023). Net income: ₹3.95m (up ₹12.7m from 2Q 2023). Profit margin: 2.2% (up from net loss in 2Q 2023). Annonce • Nov 01
El Forge Limited to Report Q2, 2024 Results on Nov 10, 2023 El Forge Limited announced that they will report Q2, 2024 results on Nov 10, 2023 Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: ₹0.24 (vs ₹0.39 loss in 1Q 2023) First quarter 2024 results: EPS: ₹0.24 (up from ₹0.39 loss in 1Q 2023). Revenue: ₹182.9m (up 46% from 1Q 2023). Net income: ₹4.81m (up ₹12.7m from 1Q 2023). Profit margin: 2.6% (up from net loss in 1Q 2023). Annonce • Aug 11
El Forge Limited, Annual General Meeting, Sep 15, 2023 El Forge Limited, Annual General Meeting, Sep 15, 2023, at 12:00 Indian Standard Time. Location: Registered Office of the company at 1A, Sriperumpudur High Road, (Via) Singaperumal Koil Appur Village, Kattangulathur Onrium Kancheepuram Tamil Nadu India Reported Earnings • May 15
Full year 2023 earnings released: ₹0.90 loss per share (vs ₹1.95 loss in FY 2022) Full year 2023 results: ₹0.90 loss per share (improved from ₹1.95 loss in FY 2022). Revenue: ₹585.1m (up 45% from FY 2022). Net loss: ₹23.1m (loss narrowed 42% from FY 2022). Annonce • May 10
El Forge Limited Announces the Resignation of Nivedita Lakshmi Ratan as Non-Executive Independent Director El Forge Limited announced that Ms. Nivedita Lakshmi Ratan (DIN: 07723440), vide her letter dated 8th May, 2023 has tendered her resignation as Non-Executive Independent Director of the Company with effect from 8th May, 2023. Further, Ms. Nivedita Lakshmi Ratan in her letter has also confirmed that there are no material reasons for her resignation other than specified in the resignation letter enclosed herewith. The resignation will be placed before the Board in upcoming meeting scheduled on May 12, 2023. Annonce • May 06
El Forge Limited to Report Q4, 2023 Results on May 12, 2023 El Forge Limited announced that they will report Q4, 2023 results on May 12, 2023 Reported Earnings • Feb 10
Third quarter 2023 earnings released: ₹0.33 loss per share (vs ₹0.67 loss in 3Q 2022) Third quarter 2023 results: ₹0.33 loss per share (improved from ₹0.67 loss in 3Q 2022). Revenue: ₹149.3m (up 60% from 3Q 2022). Net loss: ₹6.73m (loss narrowed 51% from 3Q 2022). Annonce • Jan 31
El Forge Limited to Report Q3, 2023 Results on Feb 09, 2023 El Forge Limited announced that they will report Q3, 2023 results on Feb 09, 2023 
