Amforge Industries

What Amforge Industries does

Amforge Industries Limited (CIN L28910MH1971PLC015119) is a publicly listed company headquartered in Mumbai, India, on BSE under stock code 53117 (ISIN INE991A01020). Originally incorporated by the Makar family as Hakimrai Jaichand Forgings Private Limited on 21 April 1971 for the manufacture of steel forgings, the company renamed itself Amforge Industries Limited in December 1985 and went public in 1986 (voluntarily delisted from Delhi and Ahmedabad Stock Exchanges). Historically, Amforge operated a Chinchwad (Pune) plant producing steel forgings — including two-wheeler crankshafts, connecting rods, bevel gears, and bridge fork bottoms — serving the Indian automotive sector. In 2005, the company executed a strategic demerger of its Pune forging unit to the Mahindra Group in exchange for a 27% equity stake and preference shares in Mahindra Automotive Steels Pvt. Ltd. (now Mahindra CIE Automotive Ltd., NSE-listed), and these holdings were subsequently divested.

Following the cessation of all manufacturing operations at the Chinchwad plant in 2008, Amforge has had no active production, product portfolio, or commercial revenue stream. The company exists today as a listed shell, reporting nil sales for FY2026 (year ended March 2026) alongside a Rs 0.40 crore net loss — a reversal from a Rs 0.47 crore net profit in the prior fiscal year. Its only current activities are statutory regulatory compliance under SEBI LODR Regulations 2015, maintenance of the BSE listing, and corporate governance duties carried out by a small board led by Managing Director & CEO Jayesh V. Thakkar and CFO Balasubramanian M. Konar. The promoter Makar family retains approximately 55.23% of equity through individuals and corporate vehicles (notably Viniyog Investment and Trading Co. Pvt. Ltd. at 19.5% and Nainesh Trading and Consultancy LLP at 17.07%); the residual ~44.77% float is held by public shareholders, including retail and institutional investors. There are no active customers, distribution channels, marketing channels, partnerships, AI/ML capabilities, patents, or product roadmap in evidence, and the company has no operating subsidiaries.

Name

Amforge Industries

Legal name

Amforge Industries Limited

Website

https://amforgeindia.in

Company type

Public

Founded year

1971

Operating status

Operating

Headcount range

1–10 employees

Short description

Amforge Industries is a publicly listed BSE shell company, formerly a steel forgings manufacturer serving India's two-wheeler automotive industry. Following the 2005 demerger of its Pune plant to Mahindra Group and cessation of manufacturing in 2008, the company is dormant, reports nil sales, and exists solely to maintain its listed status.

Ownership category

akta.pro rank

Product category

Dormant Steel Forgings Manufacturer

NAICS

All Other Fabricated Metal Product Manufacturing (33299)

SIC

Miscellaneous Fabricated Metal Products (3490)

akta.pro industry

PRIMARYIMAKABAD

Steel Casting (Continuous Casting, Ingots, Semi-Finished Slabs/Billets/Blooms)

Industrials, Manufacturing & Construction/Metals & Mining/Steel Production & Processing

SECONDARYIMADACAD

Steel Plate, Sections & Welded Assemblies

Industrials, Manufacturing & Construction/Building Materials & Products/Structural Steel & Metal Building Products

Keywords

• Steel forgings manufacturing
• Automotive components
• Two-wheeler crankshafts
• Dormant listed entity
• Forged metal parts

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Others

Revenue model

1. No Active Revenue: The company reported nil sales for both Q4 March 2026 and full year FY2026. The company is effectively dormant with no active manufacturing or commercial operations following the cessation of its Pune forging unit in 2008.

Distribution channels1 record

Core offering

Amforge Industries Limited historically manufactured steel forgings for the automotive industry at its Chinchwad plant in Pune, producing components such as two-wheeler crankshafts, connecting rods, bevel gears, and bridge fork bottoms. Manufacturing operations ceased in 2008, and the company is now effectively dormant, operating as a publicly listed shell entity with no active revenue generation and nil reported sales.

Product overview

Amforge Industries is a dormant manufacturing company with no active product portfolio. The company historically operated as a steel forging manufacturer producing components for the automotive industry. Its Chinchwad plant (Pune) ceased manufacturing operations in 2008. The company currently exists as a listed entity (BSE Stock Code 513117) with no reported sales, focused on financial compliance and investor relations rather than active product operations.

Differentiator

Problem solved

Functional benefit

Products and services

• Steel Forgings (Historical Product Line) Steel forgings for automotive applications including two-wheeler crankshafts, connecting rods, bevel gears, and bridge fork bottoms. Manufacturing operations ceased in 2008; no active production or sales reported.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves10 records

Broad incumbents

• Sona Comstar: Indian auto technology company producing precision-forged differential gears and other drivetrain components. Comparable in the forged automotive component category that Amforge historically served.
• Steel Authority of India (SAIL): India's largest state-owned steel producer, supplying raw and semi-finished steel (including forging-quality steel) that downstream forgers like Amforge historically consumed. Upstream/raw material adjacency rather than a direct forging peer.
• Endurance Technologies: Large Indian auto component manufacturer with a significant aluminium die-casting and suspension/forging portfolio serving two-wheeler and four-wheeler OEMs. Overlaps with Amforge's historical two-wheeler component focus.

Direct peers

• Balu Forge Industries: Indian producer of forged and machined components for automotive, railways, and oil & gas. Direct peer in steel forgings with overlapping customer verticals to Amforge's historical auto focus.
• Sanghvi Forgings: Specialist Indian steel forging manufacturer producing automotive and industrial forged components. Closely comparable product specialization to Amforge's historical single-segment forging focus.
• Mahindra CIE Automotive: Listed automotive components/forgings company that acquired Amforge's Pune forging unit via the 2005 demerger. Operates in the same product categories (forgings, gears, crankshafts) and is the direct successor to Amforge's historical manufacturing operations.
• Bharat Forge: India's largest steel forging manufacturer, producing crankshafts, connecting rods, and chassis components for automotive and industrial customers. Direct historical peer to Amforge's two-wheeler crankshaft forging business and a benchmark for what scale in this segment looks like.
• Ramkrishna Forgings: Indian steel forging manufacturer supplying automotive, railway, and industrial OEMs with rolled and forged components. Closely comparable in product mix and customer base to Amforge's historical offering.

Regional players

• Forge Holdings (BFW Group): Indian forging and metal forming group with automotive and industrial exposure. Similar two-wheeler and four-wheeler component pedigree to Amforge's historical customer base.

Emerging players

• Laxmi Forge: Mid-sized Indian steel forging supplier serving automotive OEMs. Comparable in scale and product category to what Amforge was prior to ceasing operations in 2008.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat2 records

Key risks6 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Amforge Industries