MM Forgings reports strong revenue growth, increased operating profit, and plans for future expansion, with a Buy rating. Target: ₹500.

Broker’s call: MM Forgings (Accumulate)

MM Forgings net profit jumps 18% in Q4. The company slips as it misses FY24 revenue guidance. 

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MM Forgings Q4 Results: Net Profit Jumps 18%

Corporate View: Key Growth Factors For MM Forgings. EV Run a boost to growth projects. Watch Vidyashankar Krishnan, Vice Chairman & Managing Director, MM Forgings.

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MM Forgings: EV Run a boost to growth projects | Key Growth Drivers With Vidyashankar Krishnan

Sets aside capex of ₹500 crore for machining and forging and debottlenecking of forging operations

MM Forgings aims to become a major EV player

MM Forgings share price today: MM Forgings shares have gained 2.5% to Rs 865 against the previous close of Rs 843.90 on BSE. The stock opened higher at Rs 849.65 on BSE today.

Multibagger stock with 445% returns in three years turns ex-dividend today; check details

MM Forgings Q4 standalone net rises threefold to ₹30 cr.

MM Forgings Standalone March 2023 Net Sales at Rs 372.89 crore, up 18.92% Y-o-Y

MM Forgings Consolidated March 2023 Net Sales at Rs 388.30 crore, up 20.45% Y-o-Y

Stocks to Watch today, Thursday, May 18, 2023: JK Tyre’s net profit surged to Rs 111.56 crore in Q4FY23 from Rs 38.22 crore reported last year

Stocks to Watch today, May 18, 2023: HDFC Bk, Vedant Fashions, MM Forgings, NDTV

CD Equisearch is bullish on MM Forgings has recommended buy rating on the stock with a target price of Rs 1162 in its research report dated April 19, 2023.

Buy MM Forgings; target of Rs 1162: CD Equisearch

MM Forgings subsidiary starts making prototype motors for EVs

Hasn't fared well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Financials growth has been moderate for a few years

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is underpriced and is not in the overbought zone

Current price is less than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

MM Forgings Limited is engaged in manufacturing steel forging. The Company is a manufacturer of automotive components.

MM Forgings Ltd