MM Forgings Surges Most In Nine Months MM Forgings jumped as much as 20%, the most since Sept. 18, after it reported net income for the latest quarter more than quadrupled

Q4 net income rose to Rs 30.10 crore vs Rs 6.5 crore YoY; 4Q revenue Rs 285 crore vs Rs 156 crore YoY

The company will likely benefit from demand for medium and heavy commercial vehicles as domestic fleet operators push ahead with vehicle replacement in anticipation of and end to lockdowns. The company is also confident about export growth, given the strong momentum in Class-5 and -8 trucks in the U.S.

Expect Ebitda margins to expand to 17.6% in FY22 and 18.1% in FY23 from 16.7% in FY21, driven by new products, higher machining content and strong volume growth; sees revenue growing at 25% compound annual rate over FY21-23 to Rs 1,130 crore