MM Forgings Ltd. (MMFL) reported a decline in consolidated net profit for the quarter ended December 2025, with earnings falling to ₹18 crore from ₹27 crore in the corresponding period last year, impacted by tariff-related uncertainties and a shifting global economic climate.
Despite the drop in profit, revenue from operations rose 11% year-on-year to ₹412 crore. Domestic business contributed 62% of the topline, while exports accounted for 38%.
Geographically, India remained the largest market, contributing about 61% of revenue. Europe followed with 22%, the United States 11%, and South America 4%.
In terms of segment mix, commercial vehicles continued to dominate with a 76% share of revenue, while agri and off-highway vehicles contributed 15%, and passenger vehicles accounted for 8%.
Chairman and Managing Director Vidyashankar Krishnan said the global economic environment remains volatile amid evolving geopolitical developments, with tariff-related uncertainties affecting global trade. “However, companies are adapting by strengthening supply chains and enhancing operational resilience,” he noted.
He added that in FY26, the Indian automotive industry — particularly exports — operated under global moderation and macroeconomic headwinds. During the third quarter, export momentum remained measured due to tariff uncertainties, especially involving the United States. Despite these pressures, the industry demonstrated resilience, supported by underlying demand and structural improvements.
For the nine months ended December 2025, MMFL delivered stable performance in line with industry trends. The company said its continued focus on operational efficiency, innovation, and disciplined cost management helped support margins and ensure business continuity.
Backed by a strong balance sheet and a clear long-term strategy, MMFL remains well positioned to capitalise on emerging opportunities and deliver sustainable value to stakeholders, Krishnan added.