MM Forgings income falls 6% amid volatile market

MM Forgings Limited reported total income of INR358 crores for Q1 FY '26, down 6% from INR375 crores previously. EBITDA fell to INR72 crores from INR78 crores, while PAT dropped to INR22 crores from INR32 crores.

The company slashed its annual capex projection to INR150-200 crores from an earlier INR300 crores to avoid increasing borrowings. Domestic sales comprised 60% of revenue, with exports at 40%. Capacity utilization stands at approximately 60%.