Munish Forge Limited IPO
Munish Forge Limited specializes in forging and casting, manufacturing high-quality forged and cast components for various industries, including defence, oil & gas, automobile, construction, infrastructure, and railways. Its product range includes:
i) Flanges
ii) Scaffolding components
iii) Automobile parts
iv) Defence components (tank track chains, bomb shells)
v) Fence posts
vi) Steel accessories
The company also manages project cargo and provides customized solutions for transporting specialized equipment across multiple modes of transport.
Global Operations and Clientele
Munish Forge has a strong export presence, with over 60% of revenue from international markets, including the USA, UK, Canada, and Middle East. Domestically, Punjab, Tamil Nadu, and Maharashtra contribute significantly to revenue. The company serves diverse sectors such as defence, infrastructure, automotive, industrial goods, and construction, offering tailored solutions to meet client specifications.
Competitive Strengths
i) Experienced Promoters and Management: Led by Mr. Davinder Bhasin, with decades of industry expertise in forging and casting.
ii) Integrated Manufacturing Facility: Advanced infrastructure enables cost-effective, high-quality production.
iii) Quality Assurance: ISO 9001:2015, ISO 14001:2015, IATF-16949-2016, and PED certified, with stringent testing at all production stages.
iv) Diversified Product Portfolio: Products meet both domestic and international standards, catering to multiple industries.
v) Strong Customer Relationships: Long-term client partnerships across sectors and geographies ensure repeat business and reliability.
vi) Global Reach: Capability to deliver components worldwide while meeting stringent quality and temperature-resistance requirements.
The company demonstrates consistent financial growth, operational efficiency, and profitability while maintaining strong capital management.
Objects of the Munish Forge Limited IPO:
Munish Forge Limited IPO Details:
Open Date: | Sep 30 2025 |
Close Date: | Oct 03 2025 |
Total Shares: | 77,00,400 |
Face Value: | ₹ 10 Per Equity Share |
Issue Type: | Book Building |
Issue Size: | 73.92 Cr. |
Lot Size: | 1200 Shares |
Issue Price: | ₹ 91-96 Per Equity Share |
Listing At: | NSE Emerge |
Listing Date: | Oct 08 2025 |
Promoters And Management:
Financials of Munish Forge Limited IPO:
Particulars (Cr) | FY 2024-25 | FY 2023-2024 | FY 2022-2023 |
Revenue from Operations | 175.44 | 158.88 | 160.12 |
EBITDA | 24.36 | 11.43 | 9.13 |
EBITDA Margins | 13.89% | 7.15% | 5.71% |
PAT | 14.3 | 4.38 | 1.96 |
PAT Margins | 8.15% | 2.75% | 1.23% |
ROCE | 21.22% | 10.83% | 5.47% |
Debt to Equity Ratio(In Times) | 0.89 | 1.16 | 1.4 |
Operating Cash Flows | 5.52 | 4.29 | 19.75 |
Comparison With Peers:
Companies | Revenue (in cr) | EBITDA Margins | PAT Margins | ROCE | D/E Ratio | MCap (in cr) | P/E |
Munish Forge Limited | 175.44 | 13.89% | 8.15% | 21.22% | 0.89 | 231.07 | 16.16 |
Ramkrishna Forgings Limited | 4034 | 14% | 10.29% | 6.84% | 0.7 | 9,693 | 28.4 |
Happy Forgings Limited | 1,409 | 29% | 19.02% | 19% | 0.12 | 8,678 | 32.2 |
Lead Manager of Munish Forge Limited IPO:
Registrar of Munish Forge Limited IPO:
Discussion on Munish Forge Limited IPO:
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