Paramount Speciality Forgings Limited (PSFL)
Latest quarterly results (H2 FY26)
In its latest reported quarter, H2 FY26, Paramount Speciality's revenue was ₹62.0 Cr (-1.6% year on year, +6.9% on the previous half-year), and net profit ₹2.0 Cr (-33.3% year on year); the operating margin was 6.5%.
| H2 FY26 (₹ Cr) | Value | YoY vs H2 FY25 | vs prev. half |
|---|---|---|---|
| Revenue | ₹62.0 | -1.6% | +6.9% |
| Operating profit | ₹4.0 | -20.0% | +0.0% |
| Net profit | ₹2.0 | -33.3% | +0.0% |
| EPS (₹) | 1.05 | -28.1% | -5.4% |
| Operating margin | 6.5% | — | — |
📢 Recent Corporate Announcements
Paramount Speciality Forgings Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter and half-year ended September 30, 2026. The report issued by Registrar and Transfer Agent Purva Sharegistry (India) Private Limited confirms that zero shares were dematerialised during the period from July 1, 2026 to September 30, 2026. This filing represents a standard regulatory submission with no impact on the company's business operations or financial position.
- Compliance certificate submitted under Regulation 74(5) of SEBI Regulations, 2018 for the period ended September 30, 2026
- Issued by RTA Purva Sharegistry (India) Private Limited on October 1, 2026
- Total shares dematerialised between July 1, 2026 and September 30, 2026 stands at NIL
Shareholders of Paramount Speciality Forgings Limited approved the regularization of Mr. Satish Madhav Shenoy as Non-Executive Independent Director at the AGM held on September 26, 2026. His appointment is effective for a 5-year term commencing from July 11, 2026. Mr. Shenoy brings over 40 years of experience across internal audit, risk management, and governance roles, having worked with organizations like HPCL, L&T, and Reliance Retail. This administrative regularization ensures board compliance and governance continuity for the company, which reported TTM revenue of ₹230 crore.
- Shareholders approved regularization of Mr. Satish Madhav Shenoy as Non-Executive Independent Director at the AGM on September 26, 2026
- Appointed for a term of 5 years effective from July 11, 2026
- Profile includes over 40+ years of professional experience across risk management, internal audit, and finance
Paramount Speciality Forgings Limited (PSFL) has scheduled the cut-off date as September 19, 2026, to determine shareholder eligibility for remote e-voting at its 3rd Annual General Meeting. The company's Register of Members and Share Transfer Books will remain closed from September 21, 2026, to September 26, 2026. Remote e-voting will run from 9:00 AM on September 23, 2026, until 5:00 PM on September 25, 2026. This is a standard corporate compliance filing with no operational or financial impact.
- Cut-off date for remote e-voting set for September 19, 2026
- Share transfer books and member registers closed from September 21, 2026, to September 26, 2026
- Remote e-voting window opens at 9:00 AM on September 23, 2026, and closes at 5:00 PM on September 25, 2026
- Filing pertains to the company's 3rd Annual General Meeting
Paramount Speciality Forgings Limited has issued notice for its 3rd Annual General Meeting (AGM) scheduled for Saturday, September 26, 2026, at 01:00 PM IST. The meeting will be conducted virtually via Video Conferencing (VC) or Other Audio-Visual Means (OAVM) in compliance with MCA and SEBI circulars. This is a standard statutory notification with no immediate impact on business operations or financial performance.
- 3rd Annual General Meeting convened for Saturday, September 26, 2026
- Meeting set to commence at 01:00 P.M. (IST) through VC / OAVM mode
- Notice submitted to the exchange and uploaded to the company website on September 3, 2026
Paramount Speciality Forgings Limited (PSFL) has issued a corrigendum revising its earlier book closure and record date intimation. The record date for determining shareholder eligibility for the upcoming corporate action/AGM has been revised from September 18, 2026, to Saturday, September 19, 2026. The book closure window has also been updated to September 21, 2026 – September 26, 2026 (previously starting September 19, 2026). This is a standard administrative correction with no operational or financial impact on the company.
- Record Date revised to Saturday, September 19, 2026 (earlier Friday, September 18, 2026)
- Book Closure Date revised to Monday, September 21, 2026 to Saturday, September 26, 2026 (both days inclusive)
- Earlier Book Closure period was intimated as Saturday, September 19, 2026 to Saturday, September 26, 2026
- All other terms and disclosures from the August 25, 2026 intimation remain unchanged
Paramount Speciality Forgings Limited (PSFL) approved standard administrative resolutions at its Board meeting on August 25, 2026. The 3rd Annual General Meeting (AGM) will be held via video conferencing on September 26, 2026. The record date to determine member voting eligibility is fixed as September 18, 2026, with the book closure period from September 19 to September 26, 2026. The board also recommended the re-appointment of Executive Director Mohammed Salim Hararwala, who is retiring by rotation.
- 3rd Annual General Meeting scheduled for Saturday, September 26, 2026 at 01:00 PM IST via VC/OAVM
- Record date for AGM e-voting eligibility fixed as Friday, September 18, 2026
- Register of Members and Share Transfer Books to remain closed from September 19 to September 26, 2026
- Recommended re-appointment of Executive Director Mohammed Salim Hararwala (retiring by rotation)
Paramount Speciality Forgings Limited (PSFL) has informed the exchange of a change in its registered office address within Mumbai. The office is shifting from Mazgaon to a commercial unit in Wadala (East) effective August 15, 2026. This is a procedural administrative update and does not impact the company's manufacturing operations, which currently maintain a capacity of 12,000 MTPA. The company reported a TTM revenue of Rs 230 Cr and a PAT of Rs 9 Cr.
- Registered office shifting from Mazgaon, Mumbai to Lodha Supremus, Wadala (East), Mumbai
- Change approved by the Board of Directors via circular resolution on August 11, 2026
- New address becomes effective starting Saturday, August 15, 2026
- Company maintains its existing forging capacity of 12,000 MTPA across two Maharashtra plants
Paramount Speciality Forgings Limited (PSFL) has submitted its integrated governance report for the quarter ended June 30, 2026. The company reported zero investor complaints received, resolved, or pending during the period. As an SME Emerge listed entity, it remains exempt from certain corporate governance reporting requirements under SEBI Regulation 15(2)(b). The filing also confirms no new acquisitions of unlisted shares and no loans or guarantees provided to third parties in the last six months.
- Zero investor complaints were received or pending for the quarter ended June 30, 2026
- No loans, guarantees, or securities were provided to third parties during the last 6 months
- No fines or penalties were imposed on the company during the reporting quarter
- Company maintains its 12,000 MTPA forging capacity across two plants in Maharashtra
Financial Performance
Revenue Growth by Segment
FY 2024-25 sales totaled INR 10,925.75 Lakhs, split as: Exports (25.90%, INR 2,829.71 Lakhs), Petrochemicals/Chemicals (21.06%, INR 2,301.31 Lakhs), Oil & Gas (16.84%, INR 1,840.41 Lakhs), Heavy Engineering (11.05%, INR 1,207.02 Lakhs), Nuclear Power (1.08%, INR 117.72 Lakhs), Other Infrastructure (5.12%, INR 559.37 Lakhs), and Others (18.95%, INR 2,070.21 Lakhs). H1 FY 2025-26 revenue grew 23.25% YoY to INR 5,835.06 Lakhs.
Geographic Revenue Split
Exports contribute 25.90% of total sales (INR 2,829.71 Lakhs) to regions including Oman, Canada, Italy, and the United Kingdom, while domestic Indian operations account for 74.10% of revenue.
Profitability Margins
Operating Profit Margin declined to 8.50% in FY 2024-25 from 13.24% in FY 2023-24 (a 35.8% decline). Net Profit Margin fell to 4.06% from 5.31% (a 24% decline). H1 FY 2025-26 PAT grew 36.86% YoY to INR 219.02 Lakhs.
EBITDA Margin
PBILDT was INR 13.57 Cr in FY 2023-24 (13.1% margin) and INR 3.57 Cr in H1 FY 2024-25 (7.5% margin).
Capital Expenditure
Raised INR 32.34 Cr via IPO in September 2024 for expansion; planned self-financed solar capacity expansion of 300–400 kW to reinforce renewable energy adoption.
Credit Rating & Borrowing
CRISIL rating is 'Crisil B+/Stable/Crisil A4 Issuer not cooperating'. Interest coverage ratio stood at 3.43x in H1 FY 2024-25, down from 7.15x in FY 2023-24.
Operational Drivers
Raw Materials
Stainless steel (SS) bars, billets, and rounds; Mild steel (MS) plates and rounds; Carbon steel and alloy steel.
Import Sources
100% of primary raw materials are sourced from the domestic Indian market.
Capacity Expansion
Current combined forging capacity is 12,000 MTPA across two plants in Maharashtra (Kamothe and Khalapur).
Raw Material Costs
Raw material price volatility is identified as a key risk; procurement is managed through a multi-source strategy to mitigate supply chain disruptions.
Manufacturing Efficiency
Integrated in-house capabilities for die development, CNC/VMC machining, and automated heat treatment to optimize production efficiency.
Strategic Growth
Expected Growth Rate
23%
Growth Strategy
Growth is driven by a 23.25% increase in H1 FY 2025-26 revenue through increased sales volume, new customer acquisitions, and operational efficiency. Strategy includes diversifying into Nuclear Power (1.08% of sales) and expanding export markets (25.9% of sales).
Products & Services
Precision steel forged flanges (carbon steel, stainless steel, and alloy steel) used in pipe fittings for heavy industries.
Brand Portfolio
Paramount Speciality Forgings Limited (PSFL), Paramount Forge.
New Products/Services
Increasing focus on aftermarket and maintenance products to mitigate cyclicality in capital expenditure projects.
Market Expansion
Targeting expansion in export markets across Canada, Italy, and the UK to reduce domestic sector concentration.
External Factors
Industry Trends
Industry is shifting toward advanced forging technologies and renewable energy adoption; PSFL is positioning itself with solar expansion and CNC/VMC machining integration.
Competitive Landscape
Competes in a fragmented forging industry with emerging risks from alternative manufacturing processes and materials.
Competitive Moat
60-year industrial lineage, 12,000 MTPA capacity, and integrated in-house capabilities from die development to machining provide a sustainable cost and quality advantage.
Macro Economic Sensitivity
Highly sensitive to global and domestic economic conditions affecting capital expenditure in infrastructure and energy sectors.
Consumer Behavior
Not applicable as the company operates in a B2B industrial environment.
Geopolitical Risks
Geopolitical developments impact export realizations and the stability of the global supply chain for raw materials.
Regulatory & Governance
Industry Regulations
Adheres to ISO 9001:2015 and ISO 45001:2018; compliant with statutory requirements embedded into functional workflows.
Environmental Compliance
ISO 14001:2015 certified; investing in self-financed solar projects to meet environmental norms.
Taxation Policy Impact
Not disclosed as a specific %; subject to changes in government policies and tax legislation.
Legal Contingencies
The company reported no pending litigations having a material impact on its financial position as of March 31, 2025.
Risk Analysis
Key Uncertainties
Raw material price volatility and cyclical demand in the oil and gas sector (16.84% of revenue) pose significant business risks.
Geographic Concentration Risk
Manufacturing is concentrated in two plants in Maharashtra; 25.9% of revenue is exposed to international market risks.
Third Party Dependencies
Dependent on domestic suppliers for primary raw materials like SS and MS bars and billets.
Technology Obsolescence Risk
Risk of alternative manufacturing processes or materials substituting conventional forgings in specific applications.
