MM Forgings Limited — Investor Meet, 28-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

MM Forgings reported FY25 turnover of ₹1,547 Cr with EBITDA margin near 20%, supported by a rise in machined components to 58% of revenue. Domestic sales are 62%, exports 38%, with export decline expected in FY26 due to US/Europe weakness. CAPEX was ₹340 Cr, focused on machining capacity, with ₹300 Cr planned for FY26. Order book covers ~5 months, and diversification into non-auto aims to reach 20%-25% in 3-5 years. Realization per ton dropped ~8% on softer steel prices but is expected to stabilize. Management remains confident on recovery amid challenges.