Ace investor Ashish Kacholia-portfolio stock, Balu Forge Industries, has witnessed a notable rally recently, driven by heightened investor interest. Balu Forge stock has also garnered increased attention from Foreign Institutional Investors (FIIs) during the September 2024 quarter.
According to the latest shareholding pattern, Foreign Portfolio Investors (FPIs) raised their stake in the small-cap company, Balu Forge Industries, by 1.92%, increasing their holding to 10.43% in the second quarter of FY25 from 8.51% in the first quarter.
As per BSE data, domestic institutional investors hold a 0.93% stake in Balu Forge Industries, while retail investors own 33.93%. The company’s promoters maintain a majority stake of 54.71% as of September 2024.
In contrast, Ashish Kacholia reduced his stake in Balu Forge Industries during the September 2024 quarter, lowering his holding to 1.82% from 2.14% in the June quarter. As of the end of September 2024, Kacholia held 19,90,500 Balu Forge shares, down from 21,90,500 shares at the end of July 2024.
Balu Forge Industries is a manufacturer of crankshafts and other forged components, with a market capitalisation of a little over ₹8,204 crore.
Balu Forge Q2 Results
Balu Forge Industries posted 107% year-on-year (YoY) jump in its consolidated net profit for the second quarter of FY25 at ₹48 crore from ₹23 crore in the year ago period.
The company’s revenue grew 60% YoY to ₹223 crore in Q2FY25 from ₹139 crore in the year-ago period led by continued demand for the specialized engineering products.
The company’s EBITDA during the quarter ended September 2024 increased 116.5% and margins expanded by 763 bps to 29.3% owing to increase in scale of operations and increased demand for heavier products which tend to yield better margins.
On Thursday, Balu Forge shares ended 4.72% higher at ₹749.65 apiece on the BSE.
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