Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹127, the stock trades at a trailing P/E ratio of 19.6x. Average trailing P/E is 22x in the Metals and Mining industry in India. Total returns to shareholders of 224% over the past three years. Reported Earnings • Feb 11
Third quarter 2026 earnings released: EPS: ₹1.61 (vs ₹1.11 in 3Q 2025) Third quarter 2026 results: EPS: ₹1.61 (up from ₹1.11 in 3Q 2025). Revenue: ₹206.0m (up 12% from 3Q 2025). Net income: ₹17.6m (up 45% from 3Q 2025). Profit margin: 8.5% (up from 6.6% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 14
Second quarter 2026 earnings released: EPS: ₹1.64 (vs ₹1.12 in 2Q 2025) Second quarter 2026 results: EPS: ₹1.64 (up from ₹1.12 in 2Q 2025). Revenue: ₹212.1m (up 4.7% from 2Q 2025). Net income: ₹17.9m (up 46% from 2Q 2025). Profit margin: 8.5% (up from 6.1% in 2Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 39% per year whereas the company’s share price has increased by 44% per year. Upcoming Dividend • Sep 05
Upcoming dividend of ₹2.50 per share Eligible shareholders must have bought the stock before 12 September 2025. Payment date: 19 October 2025. Payout ratio is a comfortable 49% and this is well supported by cash flows. Trailing yield: 1.8%. Within top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (2.7%). New Risk • Sep 03
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 7.9% 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 Risk Share price has been highly volatile over the past 3 months (7.9% average weekly change). Minor Risk Market cap is less than US$100m (₹1.42b market cap, or US$16.2m). Declared Dividend • Aug 16
Dividend increased to ₹2.50 Dividend of ₹2.50 is 25% higher than last year. Ex-date: 12th September 2025 Payment date: 19th October 2025 Dividend yield will be 1.9%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is covered by both earnings (49% earnings payout ratio) and cash flows (62% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. Earnings per share has grown by 9.0% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 15
First quarter 2026 earnings released: EPS: ₹1.89 (vs ₹1.60 in 1Q 2025) First quarter 2026 results: EPS: ₹1.89 (up from ₹1.60 in 1Q 2025). Revenue: ₹239.7m (down 3.6% from 1Q 2025). Net income: ₹20.7m (up 18% from 1Q 2025). Profit margin: 8.6% (up from 7.0% in 1Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 45% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Aug 14
Krishanveer Forge Limited, Annual General Meeting, Sep 19, 2025 Krishanveer Forge Limited, Annual General Meeting, Sep 19, 2025, at 11:30 Indian Standard Time. Valuation Update With 7 Day Price Move • Jul 09
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹118, the stock trades at a trailing P/E ratio of 23x. Average trailing P/E is 24x in the Metals and Mining industry in India. Total returns to shareholders of 176% over the past three years. Reported Earnings • May 19
Full year 2025 earnings released: EPS: ₹5.15 (vs ₹3.65 in FY 2024) Full year 2025 results: EPS: ₹5.15 (up from ₹3.65 in FY 2024). Revenue: ₹837.6m (flat on FY 2024). Net income: ₹56.4m (up 41% from FY 2024). Profit margin: 6.7% (up from 4.7% in FY 2024). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Duyuru • May 13
Krishanveer Forge Limited to Report Q4, 2025 Results on May 17, 2025 Krishanveer Forge Limited announced that they will report Q4, 2025 results at 12:15 PM, Indian Standard Time on May 17, 2025 Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹69.74, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 19x in the Metals and Mining industry in India. Total returns to shareholders of 43% over the past three years. New Risk • Feb 14
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹830.3m (US$9.57m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹830.3m market cap, or US$9.57m). Minor Risk Share price has been volatile over the past 3 months (7.7% average weekly change). Valuation Update With 7 Day Price Move • Feb 14
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹75.90, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 21x in the Metals and Mining industry in India. Total returns to shareholders of 50% over the past three years. Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: ₹1.11 (vs ₹1.35 in 3Q 2024) Third quarter 2025 results: EPS: ₹1.11 (down from ₹1.35 in 3Q 2024). Revenue: ₹184.3m (down 20% from 3Q 2024). Net income: ₹12.1m (down 18% from 3Q 2024). Profit margin: 6.6% (up from 6.4% in 3Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Duyuru • Jan 31
Krishanveer Forge Limited to Report Q3, 2025 Results on Feb 07, 2025 Krishanveer Forge Limited announced that they will report Q3, 2025 results on Feb 07, 2025 Valuation Update With 7 Day Price Move • Nov 27
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹106, the stock trades at a trailing P/E ratio of 21.2x. Average trailing P/E is 25x in the Metals and Mining industry in India. Total returns to shareholders of 156% over the past three years. Reported Earnings • Nov 10
Second quarter 2025 earnings released: EPS: ₹1.12 (vs ₹0.30 in 2Q 2024) Second quarter 2025 results: EPS: ₹1.12 (up from ₹0.30 in 2Q 2024). Revenue: ₹202.5m (up 9.6% from 2Q 2024). Net income: ₹12.3m (up 277% from 2Q 2024). Profit margin: 6.1% (up from 1.8% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 42% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Nov 09
Krishanveer Forge Limited Announces the Appointment of Mahendra Ravso Samdole as Company Secretary and Compliance Officer The Board of Directors of Krishanveer Forge Limited at its meeting held on November 9, 2024 approved the appointment of CS Mahendra Ravso Samdole as a Company Secretary and Compliance Officer of the Company with effect from November 09, 2024. Mr. Mahendra Samdole, an Associate Member of the Institute of Company Secretaries of India (ICSI) with Membership Number A58630, brings Significant expertise in corporate governance and compliance. He holds a Bachelor's degree from Shivaji University, Kolhapur. With five years of experience as a Group Company Secretary for Rohan Builders Group, Mr. Samdole has attained deep understanding of the legal and regulatory requirements of the Companies Act, 2013, SEBI (LODR) Regulations, 2015, and allied laws. Additionally, his role as Company Secretary and Legal Compliance Officer at Western India Forgings Pvt. Ltd. further enhanced his proficiency in ensuring corporate compliance, handling legal matters, and managing governance processes within the Group. Mr. Samdole is well-versed in the intricate law and legalities of corporate governance, making him a valuable asset in ensuring compliance with applicable laws and regulations. Duyuru • Nov 05
Krishanveer Forge Limited to Report Q2, 2025 Results on Nov 09, 2024 Krishanveer Forge Limited announced that they will report Q2, 2025 results at 3:30 PM, Indian Standard Time on Nov 09, 2024 Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹145, the stock trades at a trailing P/E ratio of 34.5x. Average trailing P/E is 27x in the Metals and Mining industry in India. Total returns to shareholders of 221% over the past three years. Duyuru • Oct 11
Krishanveer Forge Limited Announces Resignation of Shilpa Soni as Company Secretary and Compliance Officer Krishanveer Forge Limited announced that Ms. Shilpa Soni, Company Secretary & Compliance Officer of the Company has resigned and ceased from the position of Company Secretary & Compliance Officer with effect from the closing hours of October 09, 2024. Duyuru • Sep 16
Krishanveer Forge Limited Declares Dividend for the Financial Year Ended March 31, 2024 Krishanveer Forge Limited declared at its AGM held on September 13, 2024, dividend of INR 2 per equity share as recommended by the board of directors for the financial year ended March 31, 2024. Upcoming Dividend • Aug 30
Upcoming dividend of ₹2.00 per share Eligible shareholders must have bought the stock before 06 September 2024. Payment date: 13 October 2024. Trailing yield: 1.4%. Within top quartile of Indian dividend payers (1.1%). In line with average of industry peers (1.5%). Duyuru • Aug 21
Krishanveer Forge Limited Proposes Dividend for the Financial Year Ended March 31, 2024 Krishanveer Forge Limited announced that at its AGM to be held on September 13, 2024, to propose dividend of INR 2 per equity share as recommended by the board of directors for the financial year ended March 31, 2024. Valuation Update With 7 Day Price Move • Aug 16
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to ₹133, the stock trades at a trailing P/E ratio of 31.8x. Average trailing P/E is 25x in the Metals and Mining industry in India. Total returns to shareholders of 138% over the past three years. New Risk • Aug 12
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 8.2% 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 Earnings have declined by 2.8% per year over the past 5 years. Minor Risks Short dividend paying track record (less than a year of continuous dividend payments). Share price has been volatile over the past 3 months (8.2% average weekly change). Market cap is less than US$100m (₹1.28b market cap, or US$15.3m). Duyuru • Aug 12
Krishanveer Forge Limited, Annual General Meeting, Sep 13, 2024 Krishanveer Forge Limited, Annual General Meeting, Sep 13, 2024, at 11:30 Indian Standard Time. Reported Earnings • Aug 10
First quarter 2025 earnings released: EPS: ₹1.60 (vs ₹1.05 in 1Q 2024) First quarter 2025 results: EPS: ₹1.60 (up from ₹1.05 in 1Q 2024). Revenue: ₹248.5m (up 29% from 1Q 2024). Net income: ₹17.5m (up 52% from 1Q 2024). Profit margin: 7.0% (up from 6.0% in 1Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Aug 06
Krishanveer Forge Limited to Report Q1, 2025 Results on Aug 09, 2024 Krishanveer Forge Limited announced that they will report Q1, 2025 results on Aug 09, 2024 Reported Earnings • May 19
Full year 2024 earnings released: EPS: ₹3.65 (vs ₹1.50 in FY 2023) Full year 2024 results: EPS: ₹3.65 (up from ₹1.50 in FY 2023). Revenue: ₹842.5m (up 3.7% from FY 2023). Net income: ₹39.9m (up 143% from FY 2023). Profit margin: 4.7% (up from 2.0% in FY 2023). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • May 12
Krishanveer Forge Limited to Report Q4, 2024 Results on May 17, 2024 Krishanveer Forge Limited announced that they will report Q4, 2024 results on May 17, 2024 Valuation Update With 7 Day Price Move • May 02
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹116, the stock trades at a trailing P/E ratio of 27.9x. Average trailing P/E is 25x in the Metals and Mining industry in India. Total returns to shareholders of 174% over the past three years. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹81.00, the stock trades at a trailing P/E ratio of 19.5x. Average trailing P/E is 22x in the Metals and Mining industry in India. Total returns to shareholders of 110% over the past three years. New Risk • Feb 28
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹806.0m (US$9.72m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 2.4% per year over the past 5 years. Market cap is less than US$10m (₹806.0m market cap, or US$9.72m). Minor Risk Share price has been volatile over the past 3 months (9.4% average weekly change). Reported Earnings • Feb 10
Third quarter 2024 earnings released: EPS: ₹1.35 (vs ₹0.16 loss in 3Q 2023) Third quarter 2024 results: EPS: ₹1.35 (up from ₹0.16 loss in 3Q 2023). Revenue: ₹230.1m (up 21% from 3Q 2023). Net income: ₹14.7m (up ₹16.4m from 3Q 2023). Profit margin: 6.4% (up from net loss in 3Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 32% per year, which means it is well ahead of earnings. Duyuru • Feb 02
Krishanveer Forge Limited to Report Q3, 2024 Results on Feb 09, 2024 Krishanveer Forge Limited announced that they will report Q3, 2024 results on Feb 09, 2024 Valuation Update With 7 Day Price Move • Jan 18
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₹85.55, the stock trades at a trailing P/E ratio of 32.2x. Average trailing P/E is 24x in the Metals and Mining industry in India. Total returns to shareholders of 152% over the past three years. Buying Opportunity • Jan 01
Now 22% undervalued Over the last 90 days, the stock is up 5.2%. The fair value is estimated to be ₹81.03, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has declined by 16%. Valuation Update With 7 Day Price Move • Dec 27
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₹66.42, the stock trades at a trailing P/E ratio of 25x. Average trailing P/E is 22x in the Metals and Mining industry in India. Total returns to shareholders of 127% over the past three years. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹50.10, the stock trades at a trailing P/E ratio of 18.8x. Average trailing P/E is 21x in the Metals and Mining industry in India. Total returns to shareholders of 68% over the past three years. New Risk • Nov 20
New major risk - Revenue and earnings growth Earnings have declined by 2.7% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 2.7% per year over the past 5 years. Market cap is less than US$10m (₹587.3m market cap, or US$7.06m). Duyuru • Aug 12
Krishanveer Forge Limited, Annual General Meeting, Sep 15, 2023 Krishanveer Forge Limited, Annual General Meeting, Sep 15, 2023, at 11:30 Indian Standard Time. Duyuru • Aug 05
Krishanveer Forge Limited to Report Q1, 2024 Results on Aug 11, 2023 Krishanveer Forge Limited announced that they will report Q1, 2024 results on Aug 11, 2023 Valuation Update With 7 Day Price Move • Aug 03
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹59.83, the stock trades at a trailing P/E ratio of 39.8x. Average trailing P/E is 16x in the Metals and Mining industry in India. Total returns to shareholders of 160% over the past three years. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹53.91, the stock trades at a trailing P/E ratio of 35.9x. Average trailing P/E is 15x in the Metals and Mining industry in India. Total returns to shareholders of 134% over the past three years. Buying Opportunity • May 31
Now 21% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be ₹57.01, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 26% over the last 3 years. Earnings per share has declined by 25%. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹46.35, the stock trades at a trailing P/E ratio of 30.8x. Average trailing P/E is 15x in the Metals and Mining industry in India. Total returns to shareholders of 154% over the past three years. Reported Earnings • May 21
Full year 2023 earnings released: EPS: ₹1.50 (vs ₹3.43 in FY 2022) Full year 2023 results: EPS: ₹1.50 (down from ₹3.43 in FY 2022). Revenue: ₹815.2m (up 20% from FY 2022). Net income: ₹16.4m (down 56% from FY 2022). Profit margin: 2.0% (down from 5.5% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 30% per year, which means it is well ahead of earnings. Duyuru • May 13
Krishanveer Forge Limited to Report Q4, 2023 Results on May 19, 2023 Krishanveer Forge Limited announced that they will report Q4, 2023 results on May 19, 2023 Board Change • Mar 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. 4 experienced directors. No highly experienced directors. Additional Non-Executive Director Arun Jindal was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 12
Third quarter 2023 earnings released: ₹0.16 loss per share (vs ₹0.98 profit in 3Q 2022) Third quarter 2023 results: ₹0.16 loss per share (down from ₹0.98 profit in 3Q 2022). Revenue: ₹190.6m (up 3.4% from 3Q 2022). Net loss: ₹1.72m (down 116% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Duyuru • Feb 03
Krishanveer Forge Limited to Report Q3, 2023 Results on Feb 11, 2023 Krishanveer Forge Limited announced that they will report Q3, 2023 results at 3:30 PM, Indian Standard Time on Feb 11, 2023 Valuation Update With 7 Day Price Move • Dec 15
Investor sentiment improved over the past week After last week's 26% share price gain to ₹55.85, the stock trades at a trailing P/E ratio of 22.7x. Average trailing P/E is 14x in the Metals and Mining industry in India. Total returns to shareholders of 110% over the past three years. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: ₹0.59 (vs ₹0.32 in 2Q 2022) Second quarter 2023 results: EPS: ₹0.59 (up from ₹0.32 in 2Q 2022). Revenue: ₹239.0m (up 94% from 2Q 2022). Net income: ₹6.47m (up 85% from 2Q 2022). Profit margin: 2.7% (down from 2.8% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Reported Earnings • Nov 13
Second quarter 2023 earnings released: EPS: ₹0.59 (vs ₹0.32 in 2Q 2022) Second quarter 2023 results: EPS: ₹0.59 (up from ₹0.32 in 2Q 2022). Revenue: ₹239.0m (up 94% from 2Q 2022). Net income: ₹6.47m (up 85% from 2Q 2022). Profit margin: 2.7% (down from 2.8% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Duyuru • Nov 12
Krishanveer Forge Limited Announces CFO Changes Krishanveer Forge Limited informed that Mr. Shubham Arun Jindal who was holding the position of Chief Financial Officer of the Company has tendered his resignation on November 11, 2022 and shall hold his office up to the closing hours of November 30, 2022. With reference to the occurrence of the casual vacancy in the office of Chief Financial Officer,informed that the Nomination & Remuneration Committee of the Company in their meeting held on November 11, 2022 has recommended the candidature of Mr. Viralkumar S Shah as the Chief Financial Officer in place of Mr. Shubham A Jindal. The Audit Committee and the Board of Directors of the Company in their respective meetings held on November 11, 2022 have approved the candidature of Mr. Viralkumar S Shah as the Chief Financial Officer (Whole Time Key Managerial Personnel) of the Company under Section 203 of the Companies Act, 2013. It is further informed that Mr. Viralkumar S Shah shall resume the office of Chief Financial Officer from December 01, 2022 and specific intimation to that effect shall be given upon him, resuming his office. Duyuru • Nov 05
Krishanveer Forge Limited to Report Q2, 2023 Results on Nov 11, 2022 Krishanveer Forge Limited announced that they will report Q2, 2023 results on Nov 11, 2022 Duyuru • Sep 02
Krishanveer Forge Limited Appoints CS Harshal Jagdish Kher, as Company Secretary and Compliance Officer Krishanveer Forge Limited informed that considering the recommendation of the Nomination & Remuneration committee, the Board of Directors of the Company in its meeting held on September 01, 2022 has appointed CS Harshal Jagdish Kher, as Company Secretary and Compliance Officer of the Company with effect from September 01, 2022. CS Harshal Kher is an Associate Member of the Institute of Company Secretaries of India (ICSI) and is a B.Com as well as LL.B Graduate. He is associated with the Company since January 2021 and possesses sufficient knowledge of Corporate Laws, SEBI-related compliances and Corporate Governance. Reported Earnings • Jul 26
Full year 2022 earnings released: EPS: ₹3.43 (vs ₹3.27 in FY 2021) Full year 2022 results: EPS: ₹3.43 (up from ₹3.27 in FY 2021). Revenue: ₹677.2m (up 67% from FY 2021). Net income: ₹37.6m (up 4.9% from FY 2021). Profit margin: 5.5% (down from 8.9% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jul 14
Rajkumar Forge Limited, Annual General Meeting, Aug 19, 2022 Rajkumar Forge Limited, Annual General Meeting, Aug 19, 2022, at 12:00 Indian Standard Time. Reported Earnings • May 13
Full year 2022 earnings released: EPS: ₹3.43 (vs ₹3.27 in FY 2021) Full year 2022 results: EPS: ₹3.43 (up from ₹3.27 in FY 2021). Revenue: ₹681.3m (up 69% from FY 2021). Net income: ₹37.6m (up 4.9% from FY 2021). Profit margin: 5.5% (down from 8.9% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jan 30
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹0.98 (up from ₹0.73 in 3Q 2021). Revenue: ₹185.9m (up 80% from 3Q 2021). Net income: ₹10.7m (up 34% from 3Q 2021). Profit margin: 5.8% (down from 7.7% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 6% per year. Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improved over the past week After last week's 18% share price gain to ₹68.15, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 15x in the Metals and Mining industry in India. Total returns to shareholders of 110% over the past three years. Reported Earnings • Jun 28
Full year 2021 earnings released: EPS ₹3.27 (vs ₹4.18 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹406.2m (down 20% from FY 2020). Net income: ₹35.8m (down 22% from FY 2020). Profit margin: 8.8% (down from 9.0% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment improved over the past week After last week's 21% share price gain to ₹64.50, the stock trades at a trailing P/E ratio of 21.4x. Average trailing P/E is 16x in the Metals and Mining industry in India. Total returns to shareholders of 79% over the past three years. Valuation Update With 7 Day Price Move • May 21
Investor sentiment improved over the past week After last week's 22% share price gain to ₹54.50, the stock trades at a trailing P/E ratio of 18.1x. Average trailing P/E is 18x in the Metals and Mining industry in India. Total returns to shareholders of 39% over the past three years. Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improved over the past week After last week's 16% share price gain to ₹47.55, the stock trades at a trailing P/E ratio of 15.8x. Average trailing P/E is 15x in the Metals and Mining industry in India. Total returns to shareholders of 16% over the past three years. Is New 90 Day High Low • Feb 25
New 90-day high: ₹43.15 The company is up 32% from its price of ₹32.80 on 27 November 2020. The Indian market is up 17% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 36% over the same period. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment improved over the past week After last week's 23% share price gain to ₹43.15, the stock is trading at a trailing P/E ratio of 14.3x, up from the previous P/E ratio of 11.6x. This compares to an average P/E of 15x in the Metals and Mining industry in India. Total returns to shareholders over the past three years are 9.2%. Reported Earnings • Feb 07
Third quarter 2021 earnings released: EPS ₹0.73 (vs ₹1.13 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ₹103.5m (down 21% from 3Q 2020). Net income: ₹7.98m (down 36% from 3Q 2020). Profit margin: 7.7% (down from 9.4% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 01
New 90-day high: ₹36.00 The company is up 46% from its price of ₹24.60 on 03 November 2020. The Indian market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 37% over the same period. Duyuru • Jan 29
Rajkumar Forge Limited to Report Q3, 2021 Results on Feb 06, 2021 Rajkumar Forge Limited announced that they will report Q3, 2021 results on Feb 06, 2021 Valuation Update With 7 Day Price Move • Jan 07
Investor sentiment improved over the past week After last week's 15% share price gain to ₹33.65, the stock is trading at a trailing P/E ratio of 9.8x, up from the previous P/E ratio of 8.5x. This compares to an average P/E of 17x in the Metals and Mining industry in India. Total return to shareholders over the past three years is a loss of 38%. Is New 90 Day High Low • Jan 06
New 90-day high: ₹33.10 The company is up 36% from its price of ₹24.40 on 08 October 2020. The Indian market is up 21% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Metals and Mining industry, which is up 44% over the same period. Is New 90 Day High Low • Nov 25
New 90-day high: ₹31.25 The company is up 22% from its price of ₹25.65 on 27 August 2020. The Indian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 8.0% over the same period. Valuation Update With 7 Day Price Move • Nov 24
Market bids up stock over the past week After last week's 16% share price gain to ₹29.80, the stock is trading at a trailing P/E ratio of 8.7x, up from the previous P/E ratio of 7.5x. This compares to an average P/E of 13x in the Metals and Mining industry in India. Total return to shareholders over the past three years is a loss of 44%. Valuation Update With 7 Day Price Move • Nov 23
Market bids up stock over the past week After last week's 16% share price gain to ₹28.40, the stock is trading at a trailing P/E ratio of 8.3x, up from the previous P/E ratio of 7.2x. This compares to an average P/E of 13x in the Metals and Mining industry in India. Total return to shareholders over the past three years is a loss of 46%. Duyuru • Nov 08
Rajkumar Forge Limited Appoints Satish Chandrashekhar Kadrolli, as Company Secretary and Compliance Officer Rajkumar Forge Limited announced the appointment of Mr. Satish Chandrashekhar Kadrolli, as Company Secretary and Compliance Officer of the Company with effect from November 07, 2020. Reported Earnings • Nov 08
Second quarter 2021 earnings released: EPS ₹1.10 The company reported a soft second quarter result with weaker earnings and revenues, although profit margins were improved. Second quarter 2021 results: Revenue: ₹125.1m (down 20% from 2Q 2020). Net income: ₹12.0m (down 11% from 2Q 2020). Profit margin: 9.6% (up from 8.7% in 2Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Duyuru • Oct 29
Rajkumar Forge Limited Announces Resignation of Shruti Patil as Company Secretary & Compliance Officer Rajkumar Forge Limited informed that Ms. Shruti Patil, Company Secretary & Compliance Officer of the company has resigned from the position of Company Secretary & Compliance Officer, with effect from close of working hours of October 28, 2020. New Company Secretary & Compliance Officer shall be appointed shortly and the same shall be intimated to the Stock Exchange. Duyuru • Jul 17
Rajkumar Forge Limited Announces Temporary Suspension of Operations of Pune Office Due to Pandemic of Novel Coronavirus Rajkumar Forge Limited announced that considering the gravity of the threat posed by COVID-19 and in compliance with the directives issued by the Pune Municipal Corporation, registered office of the Company located at Pune City will remain closed from July 14, 2020 till further notice and the employees will be working from home. Duyuru • Jun 22
Rajkumar Forge Limited to Report Q4, 2020 Results on Jun 27, 2020 Rajkumar Forge Limited announced that they will report Q4, 2020 results on Jun 27, 2020 
