Kalyani Forge Limited — Investor Meet, 20-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Kalyani Forge reports Q2 & H1 FY26 financial results. Q2 total income stood at Rs 56.23 crore, affected by US tariffs on 15% of exports. PAT rose to Rs 2.15 crore (+53% QoQ). EBITDA was Rs 7.11 crore, with margins growing to 13%, the highest in four quarters, driven by cost control and efficiency. H1 revenue held steady at ~Rs 120 crore YoY, supported by strong domestic sales.

Management highlighted strengthened governance, new ERP controls, and a compliance drive. A new MNC customer in the Axel business was secured (Rs 5-10 crore/year order), and Europe transmission business production has commenced. Rs 7 crore in CapEx projects were commissioned. Fundraising plans for equity increase are progressing. The company anticipates better market pull in H2.