Buy M M Forgings, target price Rs 1200: Anand Rathi

Anand Rathi has buy call on M M Forgings with a target price of Rs 1200. The current market price of M M Forgings Ltd. is Rs 957.45.

M M Forgings Ltd., incorporated in the year 1946, is a Small Cap company (having a market cap of Rs 2308.58 Crore) operating in Auto Ancillaries sector.

M M Forgings Ltd. key Products/Revenue Segments include Steel Forgings and Power Generation for the year ending 31-Mar-2023.



Financials
For the quarter ended 31-12-2023, the company reported a Consolidated Total Income of Rs 404.15 Crore, up .85 % from last quarter Total Income of Rs 400.73 Crore and up 7.41 % from last year same quarter Total Income of Rs 376.27 Crore. Company reported net profit after tax of Rs 33.54 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 56.34 per cent stake in the company as of 31-Dec-2023, while FIIs owned 1.93 per cent, DIIs 14.47 per cent.