Maiden Forgings Ltd. · BSE:MAIDEN
Maiden Forgings — H2 FY26 Earnings Presentation
32 slides from Maiden Forgings's earnings presentation, Jun 2, 2026
Slide 1: Cover letter to BSE on investor presentation
June 02, 2026 To, Department of Corporate Services/ Listing BSE LIMITED 25th Floor, P J Towers Dalal Street Mumbai-400001 Subject: Investor Presentation on the Financial Results for the Half Year and Year Ended March 31, 2026. Ref: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requir
Slide 2: Maiden Forgings Limited Investor Presentation
Maiden Forgings Limited Investor Presentation
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by Maiden Forgings Limited (MFL, The Company) solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities and shall no
Slide 4: Company Overview
Company Overview • Originating in 1988, Maiden Key Facts Forgings Limited embarked on its journey long before its 3 53,000 MTPA ISO | PED 450+ official establishment in 2005. Manufacturing Manufacturing Unit Certifications Global Relationships • With a wealth of over 35 years Units Capacity & Size c
Slide 5: Key Milestones
Key Milestones Secured registrations with Ordnance Factory Murad Received the “Most IPO Launched Nagar and Centre for Started Unit 3 & Versatile Company The company got Military Airworthiness & production of SS wires for steel Bright bar Listed in BSE SME Certification (CEMILAC) Awarded with the in
Slide 6: Management Team
Management Team Mrs. Nivedita Garg Ms. Urvi Agarwal Mr. Abhilash Rastogi (Chairman & Director) (Independent Director) Mr. Nishant Garg Mr. Raj Kumar Mittal (Independent Director) • Mrs. Nivedita Garg, a • Ms. Urvi Agarwal is a (Managing Director) (Independent Director) Delhi University Software Engi
Slide 7: Management Team
Management Team Mrs. Prachla Garg Mr. Neeraj Naman Mr. Mayank Govil (CFO) (Business Strategy & (Marketing Head) Development Head) • Mrs. Prachla Garg is a Mr. Manish Mittal Post-Graduate in Mr. Sanjay Bhattacharya • Mr. Mayank Govil, a (Liaison Officer) • Mr. Neeraj Naman, is an Marketing graduate f
Slide 8: Product Mix
Product Mix MFL offers a diverse range of products, from 0.19mm to 100mm, in various steel grades and shapes, making it one of India's few manufacturing facilities with such variety. Also, company is expanding its portfolio to include induction wire manufacturing. S.S. ROUND Carbon & Alloy Plastic S
Slide 9: State-of-the-art Manufacturing Facilities
State-of-the-art Manufacturing Facilities The facility is equipped with modern machinery and an Three Strategically Located State-of-the-art Manufacturing Facilities in-house quality testing lab Ghaziabad Location 12,500 square yards Area 53,000 MT Annual Capacity 70% Capacity Utilisation The curren
Slide 10: Manufacturing Process
Manufacturing Process Pickling Lime coating/ Annealing Quality Phosphating Water To get the hardness Cutting Pointing Inspection Dispatch Raw Material Washing Straightening Drawing Finish Cutting Packaging Wire Rods, Rolled Polishing After Stretching Rounds, Rolled Hex, cut to required size Rolled S
Slide 11: Operational Updates
Operational Updates In October 2024, company successfully acquired the 4 acres of In April 2024, the company received its official land in Modinagar, Ghaziabad registration with the Ordnance Factory Board (OFB), Kolkata. • Land located ~25 KM from existing facilities on the city outskirts • Specific
Slide 12: Efficiency Gains From Plant Consolidation
Efficiency Gains From Plant Consolidation Cost Savings Overview Operational Efficiencies Sustainability Initiative Solar Plant Installation Minimum Monthly Saving of Streamlined Operations Planned to maximize solar power ₹ 25,00,000 Improved workflows due to centralized generation based on the plant
Slide 13: Diversified Industry Focus
Diversified Industry Focus 50% 20% 10% 10% 10% Engineering Industry Auto Sector Hardware industry Furniture industry Others Huge variety of All the tier two and tier Manufacturers and exporters Unorganized sector for manufacturers ranging from three vendors to the auto Lock manufacturers, wire which
Slide 14: A Strong Hold On Top Tier Auto & Engineering Suppliers
A Strong Hold On Top Tier Auto & Engineering Suppliers Maiden Forgings Limited has strong partnerships with Tier 1 suppliers to leading automotive manufacturers, including Hero Motocorp, Bajaj, Maruti, Honda, and BMW. The company also supplies directly to major Government and PSU customers such as B
Slide 15: Strategic Entry Into B2G & Defense Sectors
Strategic Entry Into B2G & Defense Sectors January 2024 April 2024 September 2024 October 2025 The Company decided to get itself Successfully got registered with The company won its initial Successfully got registered with registered in vendor list of multiple Ordinance Factory Board, Kolkata order
Slide 16: Strategic Focus On Value Added Products
Strategic Focus On Value Added Products Diversifying Product Portfolio Plastic Coil Pneumatic Nails and Wire Welded Coil Nails The project aims to produce plastic, paper, and wire collated nails for the global construction industry, with 95% for export. These nails are used in pneumatic nail guns to
Slide 17: Key Differentiators
Key Differentiators Quality Consistency Single Window Service With the fastest delivery Customers get all system and a return rate requirements of Bright of less than 1% due to products of steel under one rigorous quality checks, roof for their machining, our management's weekly fabrication, or any
Slide 18: Strategic Focus Areas For Future Growth
Strategic Focus Areas For Future Growth Higher Margin Product Lines Brand Creation Initiatives SS product value is 4x that of carbon/alloy steel products Expanding reach across B2B, B2C, and B2G segments in domestic and international markets, supported by a strong distribution network across India.
Slide 19: Enhancing Value With Forward Integration & Digital Transformation
Enhancing Value With Forward Integration & Digital Transformation Forward Integration for Higher Margins Digital & E-Commerce Expansion High-Demand Products ➢ The company entered in Amazon India with the launch of coil nails and plans to extend reach to Amazon US, UK, and other networks. ➢ MFL is De
Slide 20: Steel Production Capacity Has Expanded Rapidly
Steel Production Capacity Has Expanded Rapidly Crude Steel Production Capacity (MT) Crude Steel Production Capacity in FY20 - By Route (in%) 300 27% 160 171 138 142 142 144 45% 122 128 28% FY16 FY17 FY18 FY19 FY20 FY21 FY23 FY24 FY31P BOF EAF IF In the past 10–12 years, India's steel sector has expa
Slide 21: Steel Production In India Has Been Growing At A Fast Pace
Steel Production In India Has Been Growing At A Fast Pace Total Crude Steel Production (MT) Total Finished Steel Production (MT) 259 134 139 120 127 121 107 101 101 107 95 120 125 118 103 111 109 102 90 98 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25* FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY2
Slide 22: H2 FY26 Key Financial Highlights
H2 FY26 Key Financial Highlights Total Income EBITDA EBITDA Margin Net Profit Net Profit Margin 135.00 125.00 122.60 115.00 104.37 10.49 105.00 10.13 95.00 9.71 2.93 8.55 85.00 75.00 2.00 2.39 65.00 1.92 55.00 45.00 35.00 H2 FY25 H2 FY26 H2 FY25 H2 FY26 H2 FY25 H2 FY26 All Amount In ₹ Cr & Margins I
Slide 23: H2 FY26 Financial Highlights
H2 FY26 Financial Highlights In ₹ Cr Particular H2 FY25 H2 FY26 Y-o-Y Revenues 103.82 122.17 Other Income 0.55 0.43 Total Income 104.37 122.60 17.46% Raw Material Costs 87.29 103.51 Employee Costs 1.51 1.72 Other Expenses 5.45 6.88 Total Expenditure 94.24 112.11 EBITDA 10.13 10.49 3.52% Finance Cost
Slide 24: Key Financial Highlights
Key Financial Highlights Total Income EBITDA EBITDA Margin PAT PAT Margin 237.31 233.96 24.07 213.57 19.91 9.72 17.22 6.05 5.02 10.14 9.32 4.10 7.36 2.83 2.15 FY24 FY25 FY26 FY24 FY25 FY26 FY24 FY25 FY26 All Amount In ₹ Cr & Margins In % Investor Presentation 23
Slide 25: Profit & Loss Statement
Profit & Loss Statement In ₹ Cr Particulars FY24 FY25 FY26 Revenues 236.10 212.91 231.61 Other Income 1.21 0.66 2.35 Total Income 237.31 213.57 233.96 Raw Material Costs 199.65 180.88 202.36 Employee Costs 2.99 2.95 3.09 Other Expenses 10.60 9.83 11.30 Total Expenditure 213.24 193.66 216.74 EBITDA 2
Slide 26: Balance Sheet
Balance Sheet In ₹ Cr Equities & Liabilities FY24 FY25 FY26 Assets FY24 FY25 FY26 Equity 14.21 14.21 14.21 Non Current Assets Reserves 56.75 62.26 66.92 Fixed Assets 29.38 37.41 37.88 Net Worth 70.97 76.47 81.13 Non Current Investments 0.00 0.00 0.00 Non Current Liabilities Other Non Current Financi
Slide 27: Key Ratios
Key Ratios ROCE ROE (In %) Current Ratio (In Times) Receivable Turnover Ratio (In Times) 20.00% 1.81 1.82 18.00% 27.00% 1.69 14.68% 10.61 16.00% 22.00% 14.00% 10.88% 9.12% 12.00% 13.70% 17.00% 7.17 5.88 10.00% 8.00% 12.00% 6.00% 7.91% 4.00% 6.19% 7.00% 2.00% 0.00% 2.00% FY24 FY25 FY26 FY24 FY25 FY26
Slide 28: Stock Data
Stock Data BSE: MAIDEN | 543874 Share Holding Pattern As on 27-05-2026 As on 31-03-2026 Share Price (₹) 81.00 Market Capitalization (₹ Cr) 115.12 28.03% Promoters Public No. of Shares Outstanding 1,42,12,000 Face Value (₹) 10.00 71.97% 52-week High-Low (₹) 96.85 – 63.52 Share Performance From 06th A
Slide 29: Key Investment Rationale
Key Investment Rational Strong Financial Operational Entry into B2G Strong Client Global Market Growth Efficiency & Sector Relationships Penetration Expansion Maiden Forgings has The company's The acquisition of new Maiden Forgings With exports to high- demonstrated seeing a successful registration
Slide 30: Thank You
Maiden Forgings Limited Kirin Advisors Private Limited B-5, Arihant Tower, Block D Market, Vivek Vihar, 713-B, Lodha Supremus II, East Delhi, New Delhi – 110092. Wagle Estate, Thane West – 400 604. Email: cs@maidenforgings.in E-mail: info@kirinadvisors.com Phone: +91 120–4221283 Phone: +91 22 4100 2
Slide 31: Maiden Forgings Registers 46% YoY Growth in H2 FY26 Net Profit to ₹2.93 Cr
Maiden Forgings Registers Stellar 46% YoY Growth in H2 FY26 Net Profit to ₹2.93 Cr Mumbai 31st May, 2026 – Maiden Forgings Limited (MFL) (BSE – 543874), one of the leading manufacturers of wide range of Bright Steel bars, wires and pneumatic nails from past 35 years has announced its audited Financi
Slide 32: About Maiden Forgings Limited (press release continued)
defining milestone, effectively setting the stage for future capacity expansion and heightened cost efficiencies. Looking ahead, we are highly confident in maintaining this growth momentum. Backed by solid business fundamentals, a resilient, diversified customer base, and a clear vision for high-val