H1 FY27 revenue from operations grows ~16% YoY to ~₹127 Cr; sales volume up ~14.20% YoY

H1 FY27 revenue from operations approx. ₹127 Cr, up approx. 16% YoY.

Thu 8 Oct 2026

H1 FY27 Revenue from Operations

approx. ₹127 Cr, up approx. 16% YoY

H1 FY27 Sales Volume

approx. 19,239.35 MT, up approx. 14.20% YoY

Ghaziabad Land Parcel Sale

₹12.90 Cr

Maiden Forgings has enclosed a press release on its H1 FY27 performance and the directions it is working on.

H1 FY27 highlights

• Revenue from operations of approx. ₹127 Cr, a growth of approx. 16% YoY.
• Total sales volumes of approx. 19,239.35 MT, a growth of approx. 14.20% YoY.
• The company describes this as continued business momentum during the half year.

New Bhojpur facility

• Operations commenced at the new Bhojpur manufacturing facility in July 2026, completing Phase I of the company's Unit II consolidation.
• The consolidation is expected to improve production workflows and delivery timelines, while generating minimum estimated savings of approximately ₹25 lakh per month once fully completed.
• The facility also provides additional space to support capacity and product expansion over the coming years.

Land monetisation

• The company successfully sold its vacant land parcel at C-10, Bulandshahr Road Industrial Area, Ghaziabad for ₹12.90 Cr.
• The proceeds are proposed to be deployed towards expansion and development of the company's new manufacturing facilities, in line with its capacity expansion plans.

Credit rating

• ₹42.50 Cr of the company's total bank loan facilities were rated by CRISIL.
• The long-term rating was reaffirmed at CRISIL BBB/Stable.

Directions the company says it will pursue

• Scale overall iron and steel products manufacturing capacity towards 62,000 tonnes.
• Progress further phases of manufacturing facility consolidation to improve utilisation, workflows and operating efficiency.
• Implement planned solar power capacity to support energy cost optimisation and sustainability initiatives.
• Increase focus on pneumatic/collated nails, stainless steel bars, alloy steel bars and GI wires, and pursue forward integration into stainless steel machine components and other value-added products.
• Strengthen presence in government and defence-linked segments through existing and additional registrations and approvals with DRDO entities and Ordnance Factories, and scale institutional business with organisations including HAL, BHEL, NTPC and defence laboratories.
• Develop a distribution and warehousing presence in Dubai to support international markets, improve delivery timelines and expand recurring export opportunities.
• Pursue migration from the BSE SME platform to the BSE Mainboard at an appropriate stage, subject to applicable eligibility and regulatory requirements.

About the company

• A Ghaziabad-based manufacturer of bright steel bars, wires and pneumatic nails, with a legacy dating back to 1988 and over 35 years of industry experience.
• Operates three manufacturing units with an aggregate capacity of 53,000 MTPA and serves 450+ customers across domestic and international markets.
• Listed on the BSE SME platform in 2023.
• In FY26, MFL recorded Total Income of ₹233.96 Cr, EBITDA of ₹17.22 Cr and Net Profit of ₹5.02 Cr.

Points to keep in mind

• Several items here look ahead rather than report what has already happened: the monthly savings and the capacity target are described as expected or to be scaled, the Dubai presence and solar capacity as planned or to be developed, and the Mainboard migration as something to be pursued at an appropriate stage, subject to eligibility and regulatory requirements.
• The press release carries a forward-looking statement disclaimer, noting that actual results could differ materially from those contemplated.

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