Balu Forge's Net Profit Soars Over Two-Fold in Q1

Precision engineering firm Balu Forge reported a significant increase in net profit, growing over two-fold to Rs 34.16 crore in the April-June quarter 2023. Revenue rose by 56% to Rs 175.3 crore due to client additions and higher demand. EBITDA also surged by 97.31%, reflecting the company's successful strategy implementation.

Balu Forge, a precision engineering and manufacturing firm, reported an over two-fold rise in net profit to Rs 34.16 crore for the April-June quarter of 2023, driven by higher income.

In the same period of FY24, the firm's net profit was Rs 16.67 crore. The company's revenue from operations surged by 56% to Rs 175.3 crore, boosted by client additions and sustained demand for specialized engineering products.

EBITDA soared by 97.31%, with margins increasing by 516 basis points to 24.64% in Q1FY25, attributed to a larger scale of operations and demand for more profitable heavier products. Executive Director Trimaan Chandock attributed the robust financial performance to the company's strategic initiatives, including portfolio expansion, customer diversification, and cross-industry solutions.

(With inputs from agencies.)