M.M.Forgings

What M.M.Forgings does

M M Forgings Limited (NSE:MMFL) is an Indian closed die hot forging manufacturer founded in 1974 and headquartered in Chennai, with eight manufacturing plants spread across Tamil Nadu, Uttar Pradesh, Uttarakhand, and captive renewable energy assets. It produces forged and machined components spanning passenger cars, commercial vehicles, agricultural equipment, off-highway machinery, and high-pressure valves, with part weights ranging from 100 grams to 300 kg. Capability is anchored by mechanical presses from 1,600T to 8,000T, CNC forging machines, and a ₹230 crore investment in the world's largest 16,500-tonne hot forging press scheduled for commissioning by end of 2026.

The company operates a vertically integrated model covering engineering, tool manufacturing, forging, heat treatment, machining, and quality assurance, supplemented by an Industrial Automation Division that builds special purpose machines, material handling equipment, and heavy fabrications. Adjacent moves include the CAFOMA Autoparts acquisition (2021, ₹33 crore), the Abhinava Rizel subsidiary for hybrid EV motors (2022), and Suvarchas Vidyut for renewable energy. Wind and solar capacity at Panakudi, Theni, Tenkasi, Kallapalayam, Aruppukottai, and Viralimalai supply captive power to the forging footprint.

Commercially, MM Forgings runs a B2B enterprise field sales model selling directly to automotive OEMs and commercial vehicle manufacturers under long-term supply contracts. Domestic India accounted for 71% of FY26 revenue (₹1,573.30 crore, +4.1% YoY), with the balance exported to the US and Europe. FY26 consolidated net profit was ₹99 crore (down 18%), while Q4 FY26 profit of ₹44.74 crore was up 34.4% YoY. Management has guided to ₹2,000 crore in FY27 revenue, contingent on the new press ramping.

Name

M.M.Forgings

Legal name

M M Forgings Limited

Website

https://mmforgings.com

Company type

Public

Founded year

1974

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

M M Forgings Limited is a Chennai-based, publicly listed Indian manufacturer of closed die hot forged components for passenger cars, commercial vehicles, agricultural equipment, off-highway machinery, and high-pressure valves, selling directly to global automotive OEMs through long-term supply contracts.

Ownership category

akta.pro rank

Product category

Automotive Forged Components

NAICS

Forging and Stamping (3321), Forging and Stamping (33211)

SIC

Metal Forgings & Stampings (3460)

akta.pro primary industry

Metal Forming & Fabrication Machines (Presses, Bending, Shearing, Stamping) (IMAHADAC)

akta.pro secondary industry

Metal Cutting Tools, Tooling & Workholding (Cutters, Inserts, Chucks, Fixtures) (IMAHADAB)

Keywords

• Closed die forgings
• Automotive components manufacturing
• Commercial vehicle forgings
• Precision machined components
• Industrial automation equipment

Headquarters

HQ city

Chennai

HQ country

India

HQ region

Asia

Offices9 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Forged Components Manufacturing: Design, manufacture and supply of closed die hot forged components for automotive OEMs. Products include connecting rods, front axle beams, crankshafts, knuckles, flanges, and specialized components for passenger cars, commercial vehicles, agricultural equipment, off-highway vehicles, and high pressure valves.
2. Machining Services: Precision machining services for forged components including front axle beams, crankshafts, and knuckles. Vertically integrated operations across multiple plants.
3. Industrial Automation Products: Manufacturing and sale of special purpose machines, material handling equipment, and heavy fabrications through Industrial Automation Division.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

M.M.Forgings designs, manufactures, and supplies closed die hot forged components for automotive and industrial OEMs, including connecting rods, front axle beams, crankshafts, knuckles, flanges, sprockets, and high-pressure valve bodies in weights from 100 grams to 300 kg. The company operates eight manufacturing plants in India with integrated forging, heat treatment, machining, and tool-making capabilities, supplying passenger car, commercial vehicle, agricultural equipment, off-highway, and industrial valve manufacturers globally under long-term direct OEM contracts.

Product overview

M M Forgings is one of India's largest exporters of closed die hot forgings, operating as a one-stop shop for both domestic and international automotive and industrial customers. The company operates 11 manufacturing plants across India with capacity of 1.2 lakh tonnes, with plans to expand to 1.5 lakh tonnes through a new 16,500 tonne press. The product portfolio includes Passenger Car Forgings (sprockets, flange housings, connecting rods), Commercial Vehicle Forgings (front axle beams, crankshafts, knuckles), Agricultural Equipment Forgings (yoke shafts, crankshafts), Off Highway Forgings (links, yokes), and High Pressure Valves. Subsidiaries include DVS Industries, Cafoma Autoparts, Suvarchas Vidyut, and Abhinava Rizel (focused on EV motors). The Industrial Automation Division manufactures special purpose machines and automation equipment. The company is also expanding into electric vehicle components through its EV motors manufacturing at Plant 11.

Differentiator

Problem solved

Functional benefit

Products and services

• Passenger Car Forgings Closed die hot forgings for passenger vehicles including sprockets, flange housings, connecting rods (integral and standard), rail forgings, and hubs. Designed for passenger car OEM assembly lines requiring precision-engineered powertrain and chassis components.
• Commercial Vehicle Forgings Heavy closed die forgings for commercial vehicles including front axle beams, knuckles, universal joint crosses, steering arms, planetary wheel carriers, pivot arms, upper arm shafts, shifter forks, and rear axle spindles. Component weights up to 300 kg for heavy-duty commercial truck and bus applications.
• Agricultural Equipment Forgings Forgings for agricultural machinery including yoke shafts, double yokes, and crankshafts in 1, 2, 3, and 6 cylinder configurations. Designed for tractor and farm equipment manufacturers requiring durable high-wear components.
• Off Highway Forgings Forgings for off-highway and construction equipment including links, yokes, fit yokes, and levers. Built for construction, mining, and off-road machinery requiring heavy-duty performance in demanding operating conditions.
• High Pressure Valves Industrial forged components including valve bodies and bonnets for high-pressure applications. Precision-engineered for industrial valve manufacturers requiring reliability and safety in high-pressure environments.
• Industrial Automation Equipment Special purpose machines, heavy fabrications, and material handling equipment manufactured by the Industrial Automation Division. Produced using frugal engineering and state-of-the-art technology from 40+ years of manufacturing experience for both captive needs and external customers.
• Traction Motors, Alternators and Small Motors Electric motors and generators manufactured at Plant 11 in Chennai, including traction motors, alternators, small motors, and hybrid EV motors produced by subsidiary Abhinava Rizel Private Limited. Targeted at electric vehicle and industrial equipment manufacturers.

Quantifiable outcome

• Revenue growth of 4.1% to ₹1,573.30 crore in FY26 despite global economic headwinds.
• +2 more outcomes

Named customers1 record

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered supporting and core.

• Russian Hot Forging Press ManufacturersupportingTechnology or Integration · 15 June 2026Supplier of world's largest 16,500 tonne hot forging press. Equipment manufactured in Russia and scheduled for commissioning by year-end 2026.
• Abhinava Rizel Private LimitedcoreOthers · 1 September 2022Wholly-owned subsidiary focused on EV motor manufacturing. Launched hybrid EV motors initiative in July 2024.
• Suvarchas Vidyut Private LimitedsupportingOthers · 31 March 2022Wholly-owned subsidiary incorporated for renewable energy operations.
• CAFOMA Autoparts Private LimitedcoreOthers · 16 October 2021MM Forgings acquired CAFOMA Autoparts for Rs 33 crore (Rs 28 crore in cash + Rs 5 crore debt assumption). The acquisition expanded manufacturing capabilities and was subsequently merged with MMF in 2024.
• DVS Industries Private LimitedcoreOthersWholly-owned subsidiary located in Pant Nagar, Uttarakhand, operating as part of the manufacturing network.

Scale indicators13 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Happy Forgings: Indian closed die forging company with comparable exposure to commercial vehicles and industrial applications. Closely comparable in size, customer profile, and product mix to M.M. Forgings.
• Bharat Forge: India's largest forging company and the most direct peer to M.M. Forgings. Both serve global automotive OEMs with closed die forged components across passenger cars, commercial vehicles, and industrial applications, and compete head-to-head for CV component supply.
• Ramkrishna Forgings: Listed Indian closed die forging company serving passenger car, commercial vehicle, and industrial OEM customers. Overlapping product portfolio in axle beams, crankshafts, and steering components makes it a close mid-cap peer.
• Sanghvi Forgings: India-based closed die forging manufacturer serving automotive, oil & gas, and industrial markets. Comparable in product mix and OEM customer focus, though smaller in scale than M.M. Forgings.
• Mahindra CIE Automotive: Indian-listed subsidiary of Spain's CIE Automotive with significant forging operations supplying automotive OEMs globally. Competes directly with M.M. Forgings in passenger car and commercial vehicle forgings.

Broad incumbents

• Endurance Technologies: Large Indian auto components manufacturer focused on suspension, braking, and transmission. Adjacent rather than directly competitive with M.M. Forgings, but serves the same OEM customers with related metal-formed components.
• Sundram Fasteners: TVS Group's listed Indian auto components company producing fasteners, powertrain components, and cold-extruded parts. Broader product portfolio than M.M. Forgings but serves the same OEM customer base.
• American Axle & Manufacturing: US-headquartered global driveline and forged component supplier serving automotive OEMs. Comparable in forged component manufacturing capabilities and global OEM customer base, with much larger scale.
• Magna International: One of the world's largest diversified automotive suppliers with metal forming capabilities and global OEM relationships. Competes broadly for outsourced component contracts that M.M. Forgings also targets.

Emerging players

• Wheels India: India-listed wheel and auto component manufacturer serving commercial vehicles and passenger cars. Adjacent in the automotive metal forming space and serves overlapping OEM customers, but does not directly compete in forgings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/mmforgings

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries4 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments

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

Frequently asked questions about M.M.Forgings