Kalyani Forge Limited · NSE:KALYANIFRG
Kalyani Forge — Q2 FY27 Earnings Presentation
20 slides from Kalyani Forge's earnings presentation, Nov 6, 2026
Slide 1: Exchange filing cover letter
November 06, 2026 To, Bombay Stock Exchange Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Tower, Dalal Street, Exchange Plaza, Bandra Kurla Complex, Fort, Mumbai-400001 Bandra (E), Mumbai-400051 Scrip Code: 513509 Symbol: KALYANIFRG Dear Sir/Madam, Sub: Investor Presentation
Slide 2: Investor Presentation Q2 FY27
REFINING THE EDGE STRENGTHENING THE CORE Investor Presentation Q2 FY27
Slide 3: Safe Harbour Statement
Safe Harbour Statement • This presentation contains forward-looking statements regarding Kalyani Forge Ltd.’s outlook, strategies, business plans, expectations, and potential growth in the Indian and global markets. These statements are based on assumptions and information currently available to man
Slide 4: Q2 FY27 Highlights
Q2 FY27 Highlights • Board approves ₹45 Cr Funding Plan: indicative mix of equity (~₹10 Cr), debt (~₹20 Cr) and non-core asset and inventory monetisation (up to ₹20 Cr), to strengthen liquidity and fund the order ramp-up • H1 FY27 PBT ₹9.39 Cr, up 118.8% YoY: PAT ₹6.64 Cr (+86.7%), EPS ₹18.25; EBITD
Slide 5: Our Product Offerings
Our Product Offerings Critical, high performance components, leveraging decades of expertise Engine Driveline Connecting rod Crankshaft Outer Race Tulip Inner Race Tripod Double Yoke Yoke Shaft Gear Blanks Axle Stub Axle Steering Knuckle Wheel Hub 11/5/2026 Confidential, Investor Presentation, Kalya
Slide 6: KFL Growth Formula
KFL Growth Formula 1. Strong 2. Business 3. Capex Growth Execution Development 11/6/2026 Confidential, Investor Presentation, Kalyani Forge Ltd. 5
Slide 7: Strong Execution - Financial Performance
Strong Execution - Financial Performance Total Income PAT Rs. Cr. 80.00 7.00 67.08 5.88 70.00 6.00 58.22 59.24 60.00 56.23 54.69 5.00 4.48 50.00 4.00 40.00 3.00 2.16 2.17 30.00 2.00 20.00 1.00 10.00 - - Q2 26 Q3 26 (0.11) Q4 26 Q1 27 Q2 FY27 Q2 26 Q3 26 Q4 26 Q1 27 Q2 FY27 (1.00) EBITDA Rs. Cr. EBIT
Slide 8: Financial Performance: Q2 Impact of Planned Transformation Initiatives
Financial Performance: Q2 Impact of Planned Transformation Initiatives • ROCE: 13% on annualised Q2 earnings. ROCE Profit Margin % H1 annualised ROCE is 17%. 25% 22% 12.0% 9.9% • Profit margin: H1 FY27 PAT margin is 20% 10.0% 20% 18% 5.5%, up from 3.0% in H1 FY26. 8.0% 6.7% 15% 15% 13% 6.0% • CCC an
Slide 9: Strong Execution – EBITDA margin expansion
Strong Execution – EBITDA margin expansion • Q2 FY27 EBITDA margin of 14.2%, up 158 bps EBITDA Margin YoY from 12.7% in Q2 FY26 18.0% • H1 FY27 EBITDA margin of 15.3% vs 11.1% in H1 FY26, an expansion of 420 bps; H1 EBITDA 16.2% 16.0% 15.7% up 38.8% to ₹18.7 Cr 15.2% 14.2% • Fourth consecutive quart
Slide 10: Strong Execution – Sales by Product Group
Strong Execution – Sales by Product Group Engine Driveline Axle 50.0 14.0 8.0 12.0 7.0 40.0 10.0 6.0 30.0 5.0 8.0 4.0 20.0 6.0 3.0 4.0 2.0 10.0 2.0 1.0 - - - Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Q2 FY27 • Engine remains stron
Slide 11: Strong Execution – Sales by Segment and Geography
Strong Execution – Sales by Segment and Geography Segment Sales • Trucks was the standout: ₹23.3 Cr in Q2 FY27, 80.0 up 75% YoY and 16% on Q1, now 43% of sales 70.0 against 25% a year ago. H1 Trucks sales are up 60.0 6.1 4.7 62%. 50.0 7.5 7.6 8.2 6.4 11.4 13.9 0.3 1.3 13.5 2.3 • Cars and Industrial
Slide 12: Business Development
Business Development OEM Sales • Trucks segment demand rising, capacity 45.0 expansion planned for OEM machining 40.0 business 35.0 30.0 • Conrod Machining Capacity increased by 25.0 10%, further machining expansion planned 20.0 35.0 37.3 40.7 41.0 15.0 28.9 • New Wheel Hub Line installed upto 30% 1
Slide 13: Business Mix Optimization – Progress Update
Business Mix Optimization – Progress Update 80.0 • OEM revenues increased to 41.0 cr in Q2 FY27, 41% YoY 70.0 growth 60.0 5.52 11.11 • 5th consecutive quarter of OEM Revenue growth 7.82 2.42 50.0 4.43 14.61 15.41 10.31 • During planned recon and machine shifting, OEM 13.72 40.0 15.93 Revenue was not
Slide 14: Capex – Fuelling Growth
Capex – Fuelling Growth 18.00 Capex 16.22 16.00 FY27 capex plan of ₹30 Cr, directed at growth: Ramp-up 14.00 • 12.00 programmes ₹10 Cr, new business ₹10 Cr, future business ₹5 Cr 10.00 and existing business ₹5 Cr. 8.00 5.50 6.00 6.92 6.00 • H2 priority: CV OEM ramp-up programmes, with Trucks sales u
Slide 15: About Kalyani Forge
About Kalyani Forge 11/5/2026 Confidential, Investor Presentation, Kalyani Forge Ltd. 14
Slide 16: Company Stats
Company Stats • Established in 1978, around 50 years in the industry • Publicly Listed on National Stock Exchange and Bombay Stock Exchange India • NSE: KALYANIFRG • BOM: 513509 • Workforce Headcount: 1,000+ • Location: Pune, Maharashtra, India • Nearest Sea Port: Mumbai (190km) • No. of Plants 5: •
Slide 17: Trucks, Cars, Industrial end markets
Well diversified, leveraging common strengths High volume and high value forgings in every truck Trucks Large and mature market High volume and high value forgings in every car Cars Large and mature market Steady and growing market for large engines Industrial Hedge against cyclicality of automotive
Slide 18: Company Milestones
Company Milestones 1980 and 90s 2000s: 2010s: 2020s: • Founded in 1979 by Dr. • 1st Fracture Split Conrod • Established lines for • Scaling up Machining Neelkanth Kalyani (Founder developed in India marquee global OEMs Business of Kalyani Group) • Forayed into Passenger Car • 1st Euro-6/BS VI compli
Slide 19: Leadership - Board of Directors
Leadership - Board of Directors • Deep Experience at scale • Automotive and manufacturing domain knowledge • Global exposure • Strong strategic and Rohini Kalyani Viraj Kalyani Gaurishankar N. Kalyani leadership skills Executive Chairperson Managing Director Director Ajay Tandon Jeevan Mahaldar V. S
Slide 20: Thank You
Thank You FROM BOLD Investor Presentation www.kalyaniforge.com DECISIONS TO TANGIBLE 11/5/2026 GAINS Confidential, Investor Presentation, Kalyani Forge Ltd. 19