The shares of MM Forgings soared 19.5 per cent to touch a new life high to Rs 720 per share on the BSE intraday trade on Tuesday, amid the strong quarter four results of the financial year 2020-2021. 

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MM Forgings on Monday reported over a seven-fold jump in the profit to Rs 34.12 crore in Q4 FY21 as compared to Rs 3.05 crore the same period a year ago, while it reported a jump of 76 per cent in revenue to Rs 239 crore in Q4 FY21 as compared to Rs 166 crore year-on-year. 

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At around 01:15 pm, the stock is trading around 15 per cent higher to Rs 690.5 per share as against 0.52 per cent of BSE Sensex today. Trading almost flat for the last five days between Rs 550-600 per share levels, the stock has jumped by over 22 per cent mostly in the last two days. 

In the last month, the shares of MM Forgings jumped almost 50 per cent from Rs 486.5 per share to the new 52-week high of 720 per share. While it has surged over 71 per cent from year-to-date from Rs 420 per share to today’s day high level. 

The company board has approved an interim dividend of 50 per cent to Rs 5 per equity share along with quarter four results on Tuesday. 

The company reported 2.5 times to jump in the EBITDA to Rs 59.5 crore in Q4 FY21 as compared to Rs 24 crore in the same period a year ago, while margins grew by 20 per cent from 14.4 per cent YoY. 

Incorporated in 1946 Madras Motors Pvt Ltd the company went public in 1975. Originally dealing in imported motorcycles it later diversified to establish steel forging plants. The company changed to its present name MM Forgings on April 1, 1993.