Balu Forge Industries Board Approves Up To USD 60 Million FCCB Issue

Growth Slows, Margins Compress PAT at Rs 66.1 Cr in Q1 FY27, +15.9% YoY. Revenue at Rs 301 Cr in Q1 FY27, +28.9% YoY. EBITDA at Rs 88.6 Cr, +19.8% YoY. EBITDA margin at 29.5% vs 31.7%; cost of materials consumed declined 12.1% vs revenue growth of 28.9%. Board proposed FCCBs of up to $60m, borrowing limits and secured borrowing up to Rs 1,000 Cr, subject to shareholder approval. EGM scheduled for September 4, 2026. Auditors highlighted a Rs 9.6 Cr related-party property advance and ongoing Income Tax block assessment proceedings.