Net sales increased by 20.2% YoY to Rs 387.42 crore during the quarter.

Total expenditure in the fourth quarter rose by 18.9% to Rs 318.77 crore, due to higher raw material costs (up 27.5% YoY), higher power and oil & fuel charges (up 27.5%).

Profit before tax in Q4 FY23 stood at Rs 46.64 crore, up 46.64 crore in Q4 FY22.

Tax outgo for the period under review was Rs 15.09 crore (down 11.8%). Deferred tax expenditure in Q4 FY23 was Rs 0.76 crore as against Rs 12.29 crore in Q4 FY22.

The company recorded 40.6% jump in consolidated net profit to Rs 127.95 crore on a 28.9% rise in net sales to Rs 1,447.71 crore in FY23 over FY22.

M.M.Forgings manufactures steel forgings in raw, semi-machined and fully machined stages in various grades of carbon, alloy, micro-alloy and stainless steels. The company manufactures forged components for automobiles (mainly commercial vehicles), valves (oil field) and off-highway equipment, catering to both the domestic and international markets.