Balu Forge Industries Ltd

The Emerging Companies 2025
OVERVIEW
FINANCIALS

About

From its inception in 1990 in Belgaum, India, Balu Forge has established itself as a global leader in crankshaft manufacturing, known for quality, precision, and engineering excellence. Specialising in fully finished and semi-finished forged crankshafts and components, Balu Forge serves diverse sectors including automotive, agricultural, marine, and industrial. The company has a strong OEM presence and aftermarket reach in over 80 countries. Balu Forge was the first in India to mass-produce crankshafts for tractors, trucks, and passenger vehicles. With ISO/TS16949:2009 certification from TUV Nord, the company operates with cutting-edge CNC lines, adhering to Six Sigma and 8D practices. Its advanced facilities, including machining lines from Poland and France, enable production of crankshafts up to 2.5 metres, with an installed capacity of 30,000 units per month. Balu Forge’s commitment to innovation, including components for New Emission Regulations and New Energy Vehicles, makes it the preferred supplier to major OEMs globally. The brand continues to embody durability and technical superiority.

Incorporation Year: 1989
Headquarters: Maharashtra
Top Management: Jaspalsingh Prehladsingh Chandock - Chairman & Managing Director
Industry: Industrial Materials
Website: www.baluindustries.com

Featured In Fortune India Ranking

The Emerging Companies
#78(2025)
#78(2025)

Financial Data 2024

Revenue
622
(INR Cr)
Net Operating Income
560
(INR Cr)
Assets
603
(INR Cr)
Profit
94
(INR Cr)
Net Worth
553
(INR Cr)

Financial Data

RevenueNet Operating IncomeProfitAssetsNet Worth
PARAMETERS2024202320222021202020192018201720162015201420132012201120102009
Revenue
(INR Cr)
622
81.28%
343
12.50%
305
95.22%
156
74,266.67%
0
16.67%
0
-10.00%
0
0.00%
0
53.85%
0
44.44%
0
12.50%
0
-46.67%
0
-25.00%
0
0.00%
0
-33.33%
0
-
0
-
Net Operating Income
(INR Cr)
560
71.40%
327
14.18%
286
101.34%
142
70,945.00%
0
11.11%
0
-10.00%
0
66.67%
0
140.00%
0
-
0
-
0
-
0
-
0
-100.00%
0
66.67%
0
-
0
-
Profit
(INR Cr)
94
140.74%
39
30.40%
30
291.60%
8
18,950.00%
0
-78.95%
0
171.43%
0
133.33%
0
250.00%
0
-
0
-
0
-
0
-
0
0.00%
0
50.00%
0
-
0
-
Assets
(INR Cr)
603
140.76%
250
21.06%
207
98.51%
104
29,660.00%
0
16.67%
0
76.47%
0
70.00%
0
66.67%
0
-14.29%
0
40.00%
0
-37.50%
0
-38.46%
0
-13.33%
0
-90.20%
2
-
0
-
Net Worth
(INR Cr)
553
179.80%
198
24.59%
159
104.62%
78
0.00%
0
16.67%
0
172.73%
0
120.00%
0
150.00%
0
-33.33%
0
0.00%
0
50.00%
0
-71.43%
0
40.00%
0
-96.71%
2
0.00%
0
0.00%
Employee Cost
(INR Cr)
12
80.23%
7
53.48%
4
38.63%
3
7,925.00%
0
100.00%
0
100.00%
0
-50.00%
0
0.00%
0
0.00%
0
0.00%
0
-50.00%
0
-33.33%
0
0.00%
0
50.00%
0
-
0
-
Interest Cost
(INR Cr)
131056000000000000
Cash & Bank Balance
(INR Cr)
90773000000000000
Total Debt
(INR Cr)
48514726000000000000

Key Financial Ratios

Profit As % Of RevenuesRONW %Interest Cost to EBITDA %ROCE %Debt to Equity Ratio
PARAMETERS2024202320222021202020192018201720162015201420132012201120102009
Profit As % Of Revenues 15.07%11.34%9.79%4.88%19.05%105.56%35.00%15.00%-15.38%11.11%0.00%-86.67%15.00%15.00%6.67%-
Profit As % Of Assets 15.54%15.54%14.43%7.32%11.43%63.33%41.18%30.00%-33.33%14.29%0.00%-162.50%23.08%20.00%1.31%-
Profit As % Of Networth 16.94%19.69%18.81%9.83%11.43%63.33%63.64%60.00%-100.00%33.33%0.00%-650.00%42.86%60.00%1.32%-
Interest Cost to EBITDA % 11.45%21.16%14.20%54.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%20.00%0.00%-
Debt to Equity Ratio 0.130.280.310.340.000.120.631.430.98-0.04-0.040.661.330.070.010.00
RONW 24.96%21.84%25.27%9.83%11.43%57.14%20.00%16.22%0.00%5.26%0.00%0.00%0.88%0.87%1.16%0.00%
ROCE 29.89%26.73%28.50%15.70%20.00%18.67%22.50%12.77%0.00%4.55%0.00%0.00%0.86%1.15%1.16%0.00%