Balu Forge Industries Ltd. (BFIL), a leading precision engineering and manufacturing company, has announced its consolidated financial results for the quarter ended 30st June 2024.

BFIL registered a robust revenue growth of 55.99% and revenue from operations stood at Rs. 175.39 crore in Q1 FY25 compared to Rs. 112.38 in Q1 FY24 because of the constant focus on client addition and continued demand for the specialized engineering products.

EBITDA grew by 97.31% and margins expanded by 516 bps from 19.48% in Q1FY24 to 24.64% in Q1FY25 owing to increase in scale of operations and increased demand for heavier products which tend to yield better margins.

Commenting on the performance of Q1FY25, Trimaan Chandock, Executive Director of BFIL said: “We are happy to share our financial and business performance for Q1FY25, we registered robust revenue growth of 55.99% with revenue from operations standing at Rs. 175.39 crore in Q1FY25 compared to Rs. 112.38 crore in Q1FY24 owing to our constant focus on client addition and continued demand for our specialized engineering products. EBITDA grew by 97.31% and margins expanded by 516 bps from 19.48% in Q1FY24 to 24.64% in Q1FY25 owing to increase in scale of operations and increased demand for heavier products which tend to yield better margins. PAT grew by 104.96% and PAT margins improved by 466 bps from 14.83% in Q1FY24 to 19.49% in Q1FY25. The board of directors have recommended a final dividend of 1.50% of the face value per equity share of Rs.10/- each for the financial year 2023-24.

Our robust financial performance was an outcome of our dedicated strategy implementation focused on addition of new products into our portfolio by understanding our customer needs, diversification of customer base and offering cutting edge solutions across industries like power generation, construction, hydraulics, and wind energy. Further, the Indian forging industry is undergoing rapid transition and transformation, with superior implementation of the China+1 strategy to de-risk supply chains.

This diversification and macro change in the industry landscape offers us a plethora of opportunities and provides a long runway for growth. In order to appropriately capitalize on the opportunity, we are investing heavily in our capabilities which are poised to yield positive results in the near future.”