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Munish Forge Ltd Stock performance
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KEY OBSERVATIONS

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positive
negative
neutral
noteAnnual Revenue,rose 2.88%, in the last year to ₹183.78 Cr. Its sector's average revenue growth for the last fiscal year was 14.67%.
notePrice to Earning Ratio,is 18.58, lower than its sector PE ratio of 58.97.
noteInterest Coverage Ratio,is 3.88, higher than 1.5. This means that it is able to meet its interest payments comfortably with its earnings (EBIT).
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Munish Forge was originally incorporated on July 25, 1986, as a Private Limited Company in the name of ‘Gaisu Forge Private Limited’ under the provisions of the Companies Act, 1956 issued by the Registrar of Companies, Punjab, Himachal Pradesh Chandigarh.The company manufactures components like Flange, Scaffolding, Auto parts, Tank tracks chains, Bomb shells, Fence post and steel accessories as per customer specifications and International Standard catering to the requirements of Indian Army and various industries such as Defence, Oil and Gas, Automobile, Construction and Infrastructure. With over 40 years of legacy in precision engineering, the company has established itself as a trusted supplier in the Defence sector. Starting with a single machine shop, it has grown into a powerhouse, manufacturing critical components for the Indian Army, such as Battle Tank Track Chains and Bomb Shells.

Detailed testing both in-house and at NABL-certified labs ensures that its products meet the Defence-level standards. With ongoing projects and approvals from Defence authorities, it contributes significantly to India's Defense capabilities while also serving clients across developed markets like the USA, UK, Canada, and Europe.As part of the company’s growth strategy, the company is actively expanding into new sector like Railways, where it has recently begun registering for tenders to supply critical forged components. The Indian Railways, being one of the largest and fastest-growing rail networks, offers immense potential for growth through large-scale modernization, electrification, and expansion projects.

The railway industry demands precision-engineered parts with exceptional durability, making it a natural extension of its capabilities. By participating in tenders, it aims to secure large-scale contracts that will not only enhance its business portfolio but also establish it as a reliable supplier in this sector too.Business area of the companyThe company is engaged in manufacturing of components like Flange, Scaffolding, Auto parts, tank tracks chains, bomb shells, fence post as per customer specifications and International Standard catering to the requirements of Indian Army and various industries such as Defence, Oil and Gas, Tractor, Automobile, Railways, Construction and Infrastructure.Products of the companyFlangesLap joint flangeReducing flangeSocket weld flangeThreaded flangeBlind neck flangeWeld flangeScaffolding - Scaffolding systems and fittingsSwivel coupler (Pressed)Swivel coupler (Right angle coupler)Steel planksProps and jacksScafoding systemAutomotiveGround Engaging Tools (GET)Under chassis suspension partsHydraulic jackUnder chassis suspension componentsTractor and agri productsDefenceBattle Tank Track ChainsBomb ShellsFence post and formwork accessoriesSteel accessoriesRailway buffers and discsHistory and milestones1986: The Company was established by its promoter Mr. Davinder Bhasin, under the name of ‘Gaisu Forge Private Limited’.

The primary focus was on manufacturing forged components like cycle parts, electrical insulator parts and metalwork.1995: The Company changed its name from Gaisu Forge Private Limited to Munish Forge Limited, transitioning from a private to a public entity. This shift marked a significant milestone in its growth, accompanied by the addition of new products like Flange, further expanding its business operations.1996: The Company expanded its manufacturing infrastructure by acquiring additional land alongside the current factory area, at the Focal Point, Village Gobindgarh, a major industrial area, to accommodate future growth and increased production capacity. The expansion supported the installation of more equipment and enhanced production efficiency.2002: Munish Forge Limited restructured again and change its status from limited company to a private limited company, renaming itself Munish Forge Private Limited.2004: The Company expanded its factory land by 2.77 acres to support increased production.

This expansion enabled the company to streamline operations and improve workflow management.2014: Munish Forge Private Limited completed the necessary requirements to become registered with Indian Defence, allowing it to supply forged components to defence projects. This registration strengthened the company's credibility as a defence supplier.2015: The first Battle Tank Track Chain manufactured by the company was accepted by Indian Defence, marking its entry as an approved supplier for military projects. This approval led to new business opportunities within the defence sector.2017: Munish Forge Private Limited received EN 1090-2:2008 certification from SLV, Germany, demonstrating compliance with European standards for structural steel and aluminium components.

The certification facilitated entry into international markets requiring strict quality standards.2019: The Company integrated Robotic Welding Arms into its production process, improving efficiency and precision. These automated systems ensure consistent welds, reduce human error, and improve production speed, leading to higher productivity and cost-effectiveness.2022: The Company added JCB-SPD as one of its OEM customers, expanding its customer base in the industrial and heavy equipment sector. This partnership reinforced the company’s position as a reliable supplier in the industry.2023: Munish Forge Private Limited secured approval for T72 tank tracks, allowing it to manufacture and supply these critical components for defence applications.

This approval contributed to the company’s growing involvement in military vehicle manufacturing.2024: The company commenced casting operations through its new division, Dev Arjuna Cast and Forge Pvt Ltd, diversifying its product range and manufacturing capabilities. This step marked the company’s expansion into casting-based production alongside forging.2024: Munish Forge Private Limited transitioned into a Public Limited Company, indicating an expansion in its corporate structure and potential plans for further growth and investment opportunities. This change allowed the company to explore funding options and strengthen its market position.

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Frequently Asked Questions

As of 28 Jul 2026, the share price of Munish Forge Ltd is ₹77.70 on the NSE and ₹N/A on the BSE. The stock opened at ₹77.00, touched a high of ₹77.70 and a low of ₹77.00 during today's session.

Over the last 6 months, Munish Forge Ltd has given a return of -8.64%. The stock was priced at ₹85.05 on 28 Jan 2026 and has Fallen to ₹77.70 as of 28 Jul 2026, a change of ₹7.35 per share.

For the most recent quarter, Munish Forge Ltd reported: Revenue (Net Sales): ₹N/A Cr - N/A N/A% year-on-year from ₹N/A Cr in N/A. Net Income (PAT): ₹N/A Cr - N/A N/A% year-on-year from ₹N/A Cr in N/A.

The all-time high (ATH) for Munish Forge Ltd was ₹137.05, recorded on 21 Oct 2025. At the current price of ₹77.70, the stock is trading 43.31% below its all-time high. The all-time low recorded was ₹53.80 on 19 Mar 2026.

No,Munish Forge Ltd has not declared any dividend over the past 5 years. The company paid a total dividend of N/A per share between FY2022 and FY2026, with the most recent dividend of ₹N/A per share. At the current market price of ₹77.70, the trailing dividend yield of Munish Forge Ltd stands at N/A%.

Munish Forge Ltd has delivered a return of 13.51% over the last 3 months. The stock was trading at ₹68.45 on 28 Apr 2026 and is currently at ₹77.70 as of 28 Jul 2026, reflecting a Gain of ₹9.25 per share over this period.

The intraday high for Munish Forge Ltd on the NSE today (28 Jul 2026) was ₹77.70. This compares to the 52-week high of ₹143.00 recorded on 23 Oct 2025. Today's high was -45.66% below the 52-week high.

The intraday low for Munish Forge Ltd on the NSE today was ₹77.00. The stock's 52-week low stands at ₹50.20, recorded on 19 Mar 2026. Today's low is 53.39% above the 52-week low, indicating the stock is trading well above its yearly lows.

Munish Forge Ltd has delivered -29.52% return over the last 52 weeks. During this period, the stock hit a 52-week high of ₹143.00 on 23 Oct 2025 and a 52-week low of ₹50.20 on 19 Mar 2026. It is currently trading at ₹77.70 as of 28 Jul 2026.

Munish Forge Ltd has delivered a N/A% absolute return over the past 5 years, equivalent to a CAGR of N/A% per annum. The stock was priced at ₹N/A in Jul 2021 and has fallen to ₹77.70 as of 28 Jul 2026. An investment of ₹1,00,000 in Munish Forge Ltd five years ago would be worth ₹N/A today.

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