Also trades as: BALUFORGE.NS (NSE) · $vol 7M

₹503.05 ($5.23)

+14.55 (+2.98%)

BSE · Industrials · Manufacturing - Metal Fabrication · Tech Score Sell · Power 36 · ₹56.4B mcap · 35M float · 0.190% daily turnover

Revenue

$11.1B +19.9% ▲

5Y CAGR: +51.7%

Gross Profit

$3.5B +9.9% ▲

5Y CAGR: +64.5%

Operating Income

$2.9B +16.9% ▲

5Y CAGR: +112.1%

Net Income

$2.6B +27.0% ▲

5Y CAGR: +102.4%

EPS (Diluted)

$23.90 +31.2% ▲

5Y CAGR: +66.1%

EBITDA

$3.3B +23.9% ▲

5Y CAGR: +80.3%

View Full Income Statement

Line Item	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	$2.8B	$3.3B	$5.5B	$9.2B	$11.1B
YoY Growth	+100.3%	+18.4%	+69.3%	+67.0%	+19.9%
Cost of Revenue	$2.2B	$2.3B	$3.9B	$6.0B	$7.5B
Gross Profit	$557M	$905M	$1.6B	$3.2B	$3.5B
Gross Margin	20.2%	27.7%	29.4%	34.8%	31.8%
R&D Expenses	$10M	$10M	$11M	$14M	$0
SG&A Expenses	$169M	$175M	$264M	$235M	$631M
Operating Expenses	$197M	$430M	$501M	$732M	$631M
Operating Income	$487M	$537M	$1.2B	$2.5B	$2.9B
Operating Margin	17.6%	16.4%	21.3%	26.8%	26.2%
Interest Expense	$52M	$105M	$136M	$110M	$165M
Income Before Tax	$391M	$506M	$1.1B	$2.5B	$3.1B
Tax Expense	$92M	$117M	$202M	$501M	$472M
Net Income	$298M	$389M	$937M	$2.0B	$2.6B
Net Margin	10.8%	11.9%	16.9%	22.1%	23.4%
EPS (Diluted)	$3.61	$4.67	$9.74	$18.22	$23.90
EBITDA	$454M	$624M	$1.2B	$2.7B	$3.3B
Shares Outstanding	75M	83M	96M	111M	108M

Line Item	FY2025 Q1	FY2025 Q2	FY2025 Q3	FY2025 Q4	FY2026 Q1	FY2026 Q2	FY2026 Q3	FY2026 Q4
Revenue	$1.8B	$2.2B	$2.6B	$2.7B	$2.3B	$3.0B	$3.1B	$2.6B
Cost of Revenue	$1.2B	$1.5B	$1.7B	$1.7B	$1.4B	$2.1B	$2.0B	$1.8B
Gross Profit	$594M	$731M	$863M	$954M	$891M	$916M	$1.1B	$822M
Gross Margin	33.9%	32.8%	33.7%	35.4%	38.2%	30.6%	35.8%	31.2%
R&D Expenses	$0	$0	$0	$14M	$0	$0	$0	$0
SG&A Expenses	$51M	$87M	$124M	$319M	$0	$0	$0	$254M
Operating Expenses	$170M	$87M	$194M	$213M	$185M	$110M	$296M	$254M
Operating Income	$424M	$644M	$669M	$741M	$706M	$807M	$816M	$567M
Operating Margin	24.2%	28.9%	26.1%	27.5%	30.3%	26.9%	26.2%	21.5%
Interest Expense	$15M	$29M	$23M	$42M	$22M	$40M	$54M	$48M
Income Before Tax	$419M	$639M	$742M	$741M	$700M	$799M	$807M	$754M
Tax Expense	$77M	$158M	$152M	$114M	$130M	$149M	$96M	$97M
Net Income	$342M	$481M	$590M	$627M	$570M	$650M	$711M	$657M
Net Margin	19.5%	21.6%	23.1%	23.2%	24.5%	21.7%	22.9%	24.9%
EPS (Diluted)	$3.26	$4.26	$5.19	$5.49	$4.89	$5.91	$6.26	$6.35
EBITDA	$443M	$677M	$773M	$791M	$740M	$861M	$890M	$834M
Shares Outstanding	105M	113M	114M	114M	114M	110M	114M	104M

BALUFORGE.BO BSE