Synopsis: Maiden Forgings achieves FY26 record 35,546 MT production (+11.5% YoY), revenue Rs 233 Cr (+9.5%). New plant ready Q1 FY27.
Company has reported a strong operational performance for FY 2025–26, marking a milestone year for the company. The firm achieved its highest-ever production, reflecting steady growth and improved execution across segments. Moreover, the company strengthened its presence in the government-linked B2G segment, indicating a strategic shift towards high-value institutional orders.
Maiden Forgings’s Limited’s stock, with a market capitalisation of Rs. 115 crores, rose Rs. 81, up 2.7 percent from its previous closing price of Rs. 78.87. Furthermore, the stock over the past year has given a negative return of 20 percent.
The company recorded a production volume of 35,546 metric tonnes in FY26, its highest to date. This reflects a growth of over 11.5% compared to 31,879 metric tonnes last year.
Furthermore, revenue crossed Rs. 233 crore, registering a year-on-year growth of more than 9.5%. This performance highlights steady demand and improved operational efficiency during the year. Notably, the company maintained consistent output growth, which supported its revenue expansion and strengthened its market position.
On the other hand, Maiden Forgings made significant progress in the B2G segment during the financial year. The company secured registrations with several key government and defence institutions. These include Ordnance Factory Murad Nagar, TBRL under DRDO, and CEMILAC. Additionally, it had earlier registered with the Ordnance Factory Board in Kolkata.
Moreover, the company successfully executed orders for reputed organisations such as HAL, BHEL, and NTPC. This, therefore, reflects its growing credibility in handling institutional and defence-related projects.
Importantly, the company completed construction of its new manufacturing facility during FY26. This marks a key step in its long-term expansion strategy. The new plant is expected to become operational by the end of Q1 FY27. Consequently, Unit II operations will be fully shifted to this new facility.
This expansion is likely to enhance production capacity and improve operational efficiency in the coming years. Overall, FY26 has emerged as a landmark year for Maiden Forgings, driven by record production and infrastructure development.
Going forward, the commissioning of the new plant and stronger B2G presence may support further growth. Hence, the company appears well-positioned to build on its current momentum.
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