Integrated Filing — IndAS

General information about company

Scrip Code	513509
NSE Symbol	KALYANIFRG
MSEI Symbol	NOTLISTED
ISIN	INE314G01014
Name of company	KALYANI FORGE LIMITED
Type of company	Main Board
Class of security	Equity
Date of start of financial year	01-04-2025
Date of end of financial year	31-03-2026
Date of board meeting when results were approved	25-05-2026
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	20-05-2026
Description of presentation currency	INR
Level of rounding used in financial results	Lakhs
Reporting Type	Quarterly
Reporting Quarter	Fourth quarter
Nature of report standalone or consolidated	Standalone
Whether results are audited or unaudited for the quarter ended	Audited
Whether results are audited or unaudited for the Year to date for current period ended/year ended	Audited
Segment Reporting	Single segment
Description of single segment	Forging
Start date and time of board meeting	25-05-2026 14:00:00
End date and time of board meeting	25-05-2026 15:40:00
Whether cash flow statement is applicable on company	Yes
Type of cash flow statement	Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification	Statement on impact of audit qualification
Whether the company has any related party?	Yes
Whether the company has entered into any Related Party transaction during the selected half year for which it wants to submit disclosure?	Yes
(I) We declare that the acceptance of fixed deposits by the bans/Non-Banking Finance Company are at the terms uniformly applicable/offered to all shareholders/public	NA
(II) We declare that the scheduled commercial bank, as per RBI circular RBI/DBR/2015-16/19 dated March 03, 2016, has allowed additional interest of one per cent per annum, over and above the rate of interest mentioned in the schedule of interest rates on savings or a term deposits of banks staff and their exclusive associations as well as on deposits of Chairman, Chairman & Managing Director, Executive Director or such other Executives appointed for a fixed tenure.	NA
Whether the company is a high value debt listed entity according to regulation 15 (1A)?	No
(a) If answer to above question is Yes, whether complying with proviso to regulation 23 (9), i.e., submitting RPT disclosures on the day of results publication?
(b) If answer to above question is No, please explain the reason for not complying.
Whether the updated Related Party Transactions (RPT) Policy (in compliance with Reg. 23 of SEBI LODR) has been uploaded on the website of the Company?	Yes
Latest Date on which RPT policy is updated	12-02-2022
Indicate Company website link for updated RPT policy of the Company	https://kalyaniforge.com/
Whether statement on deviation or variation for proceeds of public issue, rights issue, preferential issue, qualified institutions placement etc. is applicable to the company for the current quarter?	No
No. of times funds raised during the quarter
Whether the disclosure for the Default on Loans and Debt Securities is applicable to the entity?	No
There is no such default on Loans and Debt Securities.

Financial Results Ind-AS

Amount in (Lakhs)

Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-01-2026	01-04-2025
B	Date of end of reporting period	31-03-2026	31-03-2026
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
1	Income
	Revenue from operations	5,697.56	23,464.47
	Other income	226.68	357.82
	Total income	5,924.24	23,822.29
2	Expenses
(a)	Cost of materials consumed	1,096.87	9,509.82
(b)	Purchases of stock-in-trade	0.00	0.00
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	1,247.66	498.08
(d)	Employee benefit expense	1,063.76	4,655.76
(e)	Finance costs	24.42	766.10
(f)	Depreciation, depletion and amortisation expense	263.22	954.65
(f)	Other Expenses
1	Other Expenses	1,615.37	6,000.74
	Total other expenses	1,615.37	6,000.74
	Total expenses	5,311.30	22,385.15
3	Total profit before exceptional items and tax	612.94	1,437.14
4	Exceptional items	0.00	0.00
5	Total profit before tax	612.94	1,437.14
6	Tax expense
7	Current tax	58.89	283.20
8	Deferred tax	(33.93)	222.21
9	Total tax expenses	24.96	505.41
10	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0.00	0.00
11	Net Profit Loss for the period from continuing operations	587.98	931.73
12	Profit (loss) from discontinued operations before tax	0.00	0.00
13	Tax expense of discontinued operations	0.00	0.00
14	Net profit (loss) from discontinued operation after tax	0.00	0.00
15	Share of profit (loss) of associates and joint ventures accounted for using equity method	0.00	0.00
16	Total profit (loss) for period	587.98	931.73
17	Other comprehensive income net of taxes	0.00	0.00
18	Total Comprehensive Income for the period	587.98	931.73
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent
	Total profit or loss, attributable to non-controlling interests
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent
	Total comprehensive income for the period attributable to owners of parent non-controlling interests
21	Details of equity share capital
	Paid-up equity share capital	363.90	363.90
	Face value of equity share capital	10	10
27	Details of debt securities
22	Reserves excluding revaluation reserve		8,803.20
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	16.17	25.6
	Diluted earnings (loss) per share from continuing operations	16.17	25.6
ii	Earnings per equity share for discontinued operations
	Basic earnings (loss) per share from discontinued operations	0	0
	Diluted earnings (loss) per share from discontinued operations	0	0
ii	Earnings per equity share
	Basic earnings (loss) per share from continuing and discontinued operations	16.17	25.6
	Diluted earnings (loss) per share from continuing and discontinued operations	16.17	25.6
24	Debt equity ratio
25	Debt service coverage ratio
26	Interest service coverage ratio
27	Disclosure of notes on financial results

Remarks

Debt equity ratio
Debt service coverage ratio
Interest service coverage ratio

Statement of Asset and Liabilities

Amount in (Lakhs)

Particulars		Year ended (dd-mm-yyyy)
Date of start of reporting period		01-04-2025
Date of end of reporting period		31-03-2026
Whether results are audited or unaudited		Audited
Nature of report standalone or consolidated		Standalone
	Assets
1	Non-current assets
	Property, plant and equipment	8,645.34
	Capital work-in-progress	1,027.82
	Investment property	0.50
	Goodwill	0.00
	Other intangible assets	316.40
	Intangible assets under development	0.00
	Biological assets other than bearer plants	0.00
	Investments accounted for using equity method	0.00
	Non-current financial assets
	Non-current investments	0.00
	Trade receivables, non-current	0.00
	Loans, non-current	0.00
	Other non-current financial assets
	Total of other non-current financial assets
	Total non-current financial assets	0.00
	Deferred tax assets (net)	0.00
	Other non-current assets
1	Income Tax Assets (Net)	95.08
2	Other non-current assets	282.21
	Total of other non-current assets	377.29
	Total non-current assets	10,367.35
2	Current assets
	Inventories	3,549.36
	Current financial asset
	Current investments	0.00
	Trade receivables, current	10,265.24
	Cash and cash equivalents	23.25
	Bank balance other than cash and cash equivalents	202.87
	Loans, current	0.00
	Other current financial assets
	Total of other current financial assets
	Total current financial assets	10,491.36
	Current tax assets (net)
	Other current assets
1	Other current assets	740.18
	Total of other current assets	740.18
	Total current assets	14,780.90
3	Non-current assets classified as held for sale
4	Regulatory deferral account debit balances and related deferred tax Assets
	Total assets	25,148.25
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	363.90
	Other equity	9,190.48
	Total equity attributable to owners of parent	9,554.38
	Non controlling interest
	Total equity	9,554.38
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	3,489.77
	Trade payables, non-current
	(A) Total outstanding dues of micro enterprises and small enterprises
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises
	Total Trade payable
	Other non-current financial liabilities
	Total of other non-current financial liabilities
	Total non-current financial liabilities	3,489.77
	Provisions, non-current	860.38
	Deferred tax liabilities (net)	31.39
	Deferred government grants, Non-current	0.00
	Other non-current liabilities
	Total of other non-current liabilities
	Total non-current liabilities	4,381.54
	Current liabilities
	Current financial liabilities
	Borrowings, current	7,072.31
	Trade payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	294.74
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	2,561.49
	Total Trade payable	2,856.23
	Other current financial liabilities
1	Other current financial liabilities	576.79
	Total of other current financial liabilities	576.79
	Total current financial liabilities	10,505.33
	Other current liabilities	672.48
1	Other current liabilities	672.48
	Total of other current liabilities	672.48
	Provisions, current	34.52
	Current tax liabilities (Net)
	Deferred government grants, Current
	Total current liabilities	11,212.33
3	Liabilities directly associated with assets in disposal group classified as held for sale
4	Regulatory deferral account credit balances and related deferred tax liability
	Total liabilities	15,593.87
	Total equity and liabilites	25,148.25
	Disclosure of notes on assets and liabilities

Format for Reporting Segment wise Revenue, Results and Capital Employed along with the company results

Amount in (Lakhs)

Particulars		3 months/ 6 month ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period		01-01-2026	01-04-2025
Date of end of reporting period		31-03-2026	31-03-2026
Whether results are audited or unaudited		Audited	Audited
Nature of report standalone or consolidated		Standalone	Standalone
1	Segment Revenue (Income)
	(net sale/income from each segment should be disclosed)
	Total Segment Revenue
	Less: Inter segment revenue
	Revenue from operations
2	Segment Result
	Profit (+) / Loss (-) before tax and interest from each segment
	Total Profit before tax
	i. Finance cost
	ii. Other Unallocable Expenditure net off Unallocable income
	Profit before tax
3	(Segment Asset - Segment Liabilities)
	Segment Asset
	Total Segment Asset
	Un-allocable Assets	null	null
	Net Segment Asset	null	null
4	Segment Liabilities
	Segment Liabilities
	Total Segment Liabilities
	Un-allocable Liabilities	null	null
	Net Segment Liabilities	null	null
	Disclosure of notes on segments

Other Comprehensive Income

Amount in (Lakhs)

Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-01-2026	01-04-2025
B	Date of end of reporting period	31-03-2026	31-03-2026
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
	Total Amount of items that will not be reclassified to profit and loss
2	Income tax relating to items that will not be reclassified to profit or loss	0.00	0.00
3	Amount of items that will be reclassified to profit and loss
	Total Amount of items that will be reclassified to profit and loss
4	Income tax relating to items that will be reclassified to profit or loss	0.00	0.00
5	Total Other comprehensive income	0.00	0.00

Cash flow statement, indirect

Amount in (Lakhs)

Particulars			Year ended (dd-mm-yyyy)
A	Date of start of reporting period		01-04-2025
B	Date of end of reporting period		31-03-2026
C	Whether results are audited or unaudited		Audited
D	Nature of report standalone or consolidated		Standalone
	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax		1,437.14
	Adjustments for reconcile profit (loss)
	Adjustments for finance costs		766.10
	Adjustments for decrease (increase) in inventories		2,167.20
	Adjustments for decrease (increase) in trade receivables, current		0.00
	Adjustments for decrease (increase) in trade receivables, non-current		(2,092.30)
	Adjustments for decrease (increase) in other current assets		(10.92)
	Adjustments for decrease (increase) in other non-current assets		0.00
	Adjustments for other financial assets, non-current		0.00
	Adjustments for other financial assets, current		0.00
	Adjustments for other bank balances		0.00
	Adjustments for increase (decrease) in trade payables, current		0.00
	Adjustments for increase (decrease) in trade payables, non-current		(2,249.89)
	Adjustments for increase (decrease) in other current liabilities		348.91
	Adjustments for increase (decrease) in other non-current liabilities		0.00
	Adjustments for depreciation and amortisation expense		954.65
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss		0.00
	Adjustments for provisions, current		0.00
	Adjustments for provisions, non-current		0.00
	Adjustments for other financial liabilities, current		0.00
	Adjustments for other financial liabilities, non-current		0.00
	Adjustments for unrealised foreign exchange losses gains		(145.97)
	Adjustments for dividend income		0.00
	Adjustments for interest income		0.00
	Adjustments for share-based payments		0.00
	Adjustments for fair value losses (gains)		0.00
	Adjustments for undistributed profits of associates		0.00
	Other adjustments for which cash effects are investing or financing cash flow		0.00
	Other adjustments to reconcile profit (loss)		0.00
	Other adjustments for non-cash items		(201.50)
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships		0.00
	Total adjustments for reconcile profit (loss)		(463.72)
	Net cash flows from (used in) operations		973.42
	Dividends received		0.00
	Interest paid		0.00
	Interest received		(6.94)
	Income taxes paid (refund)		280.01
	Other inflows (outflows) of cash		59.20
	Net cash flows from (used in) operating activities		745.67
	Cash flows from used in investing activities
	Cash flows from losing control of subsidiaries or other businesses		0.00
	Cash flows used in obtaining control of subsidiaries or other businesses		0.00
	Other cash receipts from sales of equity or debt instruments of other entities		0.00
	Other cash payments to acquire equity or debt instruments of other entities		0.00
	Other cash receipts from sales of interests in joint ventures		0.00
	Other cash payments to acquire interests in joint ventures		0.00
	Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships		0.00
	Cash payment for investment in partnership firm or association of persons or limited liability partnerships		0.00
	Proceeds from sales of property, plant and equipment		0.00
	Purchase of property, plant and equipment		3,311.52
	Proceeds from sales of investment property		0.00
	Purchase of investment property		0.00
	Proceeds from sales of intangible assets		0.00
	Purchase of intangible assets		0.00
	Proceeds from sales of intangible assets under development		0.00
	Purchase of intangible assets under development		0.00
	Proceeds from sales of goodwill		0.00
	Purchase of goodwill		0.00
	Proceeds from biological assets other than bearer plants		0.00
	Purchase of biological assets other than bearer plants		0.00
	Proceeds from government grants		0.00
	Proceeds from sales of other long-term assets		0.00
	Purchase of other long-term assets		0.00
	Cash advances and loans made to other parties		0.00
	Cash receipts from repayment of advances and loans made to other parties		0.00
	Cash payments for future contracts, forward contracts, option contracts and swap contracts		0.00
	Cash receipts from future contracts, forward contracts, option contracts and swap contracts		0.00
	Dividends received		0.00
	Interest received		6.94
	Income taxes paid (refund)		0.00
	Other inflows (outflows) of cash		(11.35)
	Net cash flows from (used in) investing activities	(3,315.93)
	Cash flows from used in financing activities
	Proceeds from changes in ownership interests in subsidiaries		0.00
	Payments from changes in ownership interests in subsidiaries		0.00
	Proceeds from issuing shares		0.00
	Proceeds from issuing other equity instruments		0.00
	Payments to acquire or redeem entity's shares		0.00
	Payments of other equity instruments		0.00
	Proceeds from exercise of stock options		0.00
	Proceeds from issuing debentures notes bonds etc		0.00
	Proceeds from borrowings		3,405.28
	Repayments of borrowings		0.00
	Payments of lease liabilities		0.00
	Dividends paid		145.00
	Interest paid		766.15
	Income taxes paid (refund)		0.00
	Other inflows (outflows) of cash		0.00
	Net cash flows from (used in) financing activities		2,494.13
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes		(76.13)
	Effect of exchange rate changes on cash and cash equivalents
	Effect of exchange rate changes on cash and cash equivalents		0.00
	Net increase (decrease) in cash and cash equivalents		(76.13)
	Cash and cash equivalents cash flow statement at beginning of period		99.38
	Cash and cash equivalents cash flow statement at end of period		23.25

Details of Impact of Audit Qualification

Amount in (Lakhs)

Whether results are audited or unaudited	Audited
Declaration of unmodified opinion or statement on impact of audit qualification	Statement on impact of audit qualification
Auditor's opinion	Disclaimer of opinion
Declaration pursuant to Regulation 33 (3) (d) of SEBI (LODR) Regulation, 2015: The company declares that its Statutory Auditor/s have issued an Audit Report with unmodified opinion for the period on Standalone results

Sr No.	Audit firm's name	Whether the firm holds a valid peer review certificate issued by Peer Review Board of ICAI	Certificate valid upto
1	M. P. Chitale & Co.	Yes	31-07-2028

Financial details

Amount in (Lakhs)

Sr.	Particulars	Audited Figures (as reported before adjusting for qualifications)	Adjusted Figures (audited figures after adjusting for qualifications)
1	Turnover / Total income	23,822.29	23,822.29
2	Total Expenditure	22,385.15	22,385.15
3	Net Profit/(Loss)	931.74	931.74
4	Earnings Per Share	25.61	25.61
5	Total Assets	25,148.24	25,148.24
6	Total Liabilities	15,593.86	15,593.86
7	Net Worth	9,554.38	9,554.38

Audit qualification

Amount in (Lakhs)

Sr.	Details of Audit Qualification	Type of Audit Qualification	Frequency of qualification	For Audit Qualification(s) where the impact is quantified by the auditor	For Audit Qualification(s) where the impact is not quantified by the auditor
Sr.	Details of Audit Qualification	Type of Audit Qualification	Frequency of qualification	Management's Views	(i) Management's estimation on the impact of audit qualification	(ii) If management is unable to estimate the impact, reasons for the same	Auditors' Comments on (i) or (ii) above
1	Textual Information(1)	Disclaimer of opinion	Repetitive	Textual Information(2)	Textual Information(3)	Textual Information(4)	Textual Information(5)

Text Block

Textual Information(1)	I. The Company has been in the process of refining its stock valuation methodology since prior financial years. This involves updating standard rates for material, labour and overheads based on the current prevailing rates and relevant data. As the said process is not completed, the quantities and valuation of inventories and the consequential impact thereof, if any on the cost of raw materials and components consumed and the changes in inventories of finished goods, work in progress and stock in trade is unascertainable. II. Balance of trade receivables, trade payables, stock with vendors and balances with banks are subject to confirmations, reconciliations, and consequential adjustments, if any. Consequently, we are unable to obtain sufficient and appropriate audit evidence. We were unable to satisfy ourselves even after applying alternative means concerning such balances. III. Balances of amount appearing under Property, plant and equipment and other assets - GST input tax credit and sales reported in GSTR 1 are subject to reconciliations, and consequential adjustments, if any. We were unable to satisfy ourselves even after applying alternative means concerning such balances. IV. We have been given to understand that the Company is in the process of updating the relevant documentation for internal financial control over financial reporting. In the absence of necessary documentation, we could not determine if the Company has established adequate internal financial control with reference to financial statements and whether such internal financial controls were operating effectively as at March 31, 2026.
Textual Information(2)	NA
Textual Information(3)	There is no impact of the qualification as per Management's best assessment
Textual Information(4)	Not Applicable
Textual Information(5)	Because of significance of the matters described in the details of audit qualifications in ll(a) above, we have not been able to obtarn sufficient and appropriate audit evident to provide basis for an audit opinion on the financial results for the year ended March 31, 2026.

Signatories detail

Name of CEO / Managing director	Viraj Kalyani
Name of CFO	NA
Name of audit committee chairman	Nil
Name of statutory auditor	Sanat Chitale
Name of other signatory, if any, with designation	NA
Place	Pune
Date	25-05-2026

Amount in (Lakhs)

Format for Disclosure of Related Party Transactions (applicable only for half-yearly filings i.e., 2nd and 4th quarter)

	Name	Name	Relationship of the counterparty with the listed entity or its subsidiary	Type of related party transaction	Details of other related party transaction		Remarks on approval by audit committee			Value of transaction during the reporting period	Opening balance	Closing balance	Nature of indebtedness (loan/ issuance of debt/ any other etc.)	Details of other indebtedness	Nature (loan/ advance/ intercorporate deposit/ investment )	Notes
Sr No.														Additional disclosure of related party transactions - applicable only in case the related party transaction relates to loans, inter-corporate deposits, advances or investments made or given by the listed entity/subsidiary. These details need to be disclosed only once, during the reporting period when such transaction was undertaken.
	Details of the party (listed entity/subsidiary) entering into the transaction	Details of the counterparty		Type of related party transaction	Details of other related party transaction	Value of the related party transaction as approved by the audit committee	Remarks on approval by audit committee	Value of the related party transaction ratified by the audit committee	Date of Audit Committee Meeting where the ratification was approved	Value of transaction during the reporting period	In case monies are due to either party as a result of the transaction		In case any financial indebtedness is incurred to make or give loans, inter-corporate deposits, advances or investments		Details of the loans, inter-corporate deposits, advances or investments	Notes
1	Kalyan Forge Limited	Kstudio Solutions Private Limited	Other Related Party	Any other transaction	Crosscharge	70.06	NA			70.06	0.00	5.06
2	Kalyan Forge Limited	Mrs. Rohini G. Kalyani	Key Managerial Personnel	Remuneration		26.89	NA			26.89	0.00	2.24
3	Kalyan Forge Limited	Mr. Viraj G. Kalyani	Key Managerial Personnel	Remuneration		57.25	NA			57.25	0.00	4.77
4	Kalyan Forge Limited	Mr. Ajay Tandon	Independent Director	Any other transaction	Commission and Director Sitting Fees	0.72	NA			0.72	0.72	0.72
5	Kalyan Forge Limited	Mr. Jeevan Mahaldar	Independent Director	Any other transaction	Commission and Director Sitting Fees	0.72	NA			0.72	0.72	0.72
6	Kalyan Forge Limited	Arjas Steel Private Limited	Other Related Party	Purchase of goods or services		557.12	NA			557.12	672.09	185.65
7	Kalyan Forge Limited	Arjas Modern Steel Private Limited	Other Related Party	Purchase of goods or services		93.74	NA			93.74	113.27	93.74
8	Kalyan Forge Limited	Yusmarg Investment & Trading Private Limited	Other Related Party	Inter-corporate deposit		114.96	NA			114.96	318.69	333.66
Total value of transaction during the reporting period										921.46