Munish Forge IPO

Incorporated in 1986, Munish Forge operates in the forging and casting industry, manufacturing products such as flanges, scaffolding systems, auto parts, tank track chains, bomb shells, fence posts, and steel accessories to serve diverse sectors, including defence, oil and gas, automobile, construction, and infrastructure. In FY25, flanges represent the largest revenue segment, contributing 32.64%, followed by Scaffolding at 22.16%. Defence revenue grew from 1.37% in FY24 to 12.93% in FY25, while flange revenue declined from 53.48% to 32.64% in the same period. The exports contributed 60.32% of total revenue in FY25, with the USA being the largest contributor at 33.45%. The company served 167 customers in FY25, with repetitive customers contributing 41.32% of total customers.