{"id":17932,"date":"2023-06-08T05:47:22","date_gmt":"2023-06-08T05:47:22","guid":{"rendered":"https:\/\/livemumbai.in\/index.php\/2023\/06\/08\/maiden-forgings-ltd-reports-splendid-net-profit-growth-of-338-23-for-fy23\/"},"modified":"2023-06-08T05:47:22","modified_gmt":"2023-06-08T05:47:22","slug":"maiden-forgings-ltd-reports-splendid-net-profit-growth-of-338-23-for-fy23","status":"publish","type":"post","link":"https:\/\/livemumbai.in\/index.php\/2023\/06\/08\/maiden-forgings-ltd-reports-splendid-net-profit-growth-of-338-23-for-fy23\/","title":{"rendered":"Maiden Forgings Ltd. Reports Splendid Net Profit Growth of 338.23% for FY23"},"content":{"rendered":"<div class=\"dsprime\"><img decoding=\"async\" width=\"640\" height=\"480\" src=\"https:\/\/pnn.digital\/wp-content\/uploads\/2023\/06\/ANI-Image-1024x768.jpg\" class=\"attachment-large size-large wp-post-image\" alt=\"\" loading=\"lazy\" style=\"margin-bottom: 10px\" \/><\/div>\n<p><strong>Mumbai (Maharashtra) [India], June 8<\/strong><strong>:<\/strong>&nbsp;<strong>Maiden Forgings Limited (BSE \u2013 543874)<\/strong>,&nbsp;manufactures wide range of Bright Steel bars and wires from past 35 years&nbsp;has&nbsp;<a>announced<strong>&nbsp;<\/strong>its audited Financial Results for the&nbsp;<\/a>FY23.<\/p>\n<p><strong><u>Key Financials at a Glance:<\/u><\/strong>&nbsp;<\/p>\n<p><strong><u>FY23:<\/u><\/strong><\/p>\n<p>\u00b7<strong>Total Revenues at<\/strong>&nbsp;\u20b9<strong>&nbsp;221.15 crore<\/strong><\/p>\n<p>\u00b7<strong>EBITDA at<\/strong>&nbsp;\u20b9<strong>&nbsp;22.31 crore; up 80.16%<\/strong><\/p>\n<p>\u00b7<strong>EBITDA Margin at 10.09 % Vs 5.87 %<\/strong><\/p>\n<p>\u00b7<strong>PAT at<\/strong>&nbsp;\u20b9<strong>&nbsp;9.61 crore; up 338.23%<\/strong><\/p>\n<p>\u00b7<strong>PAT Margin at 4.34 % Vs 1.04 %<\/strong><\/p>\n<p>Commenting on the performance,&nbsp;<strong>Mr. Nishant Garg, Managing Director&nbsp;of Maiden Forgings Limited<\/strong>&nbsp;<strong>said<\/strong>, \u201cSales from newer product lines, value added products and effective cost management enabled us to report substantial improvement in EBITDA as well as net profit. &nbsp;Our net profit grew over 4-fold and we expect the trend to continue in FY24.&nbsp;<\/p>\n<p>We are optimistic on demand and our strategies to control cost will enable us to report strong profit growth going forward.\u201d<\/p>\n<p><strong><u>About&nbsp;Maiden Forgings Limited:<\/u><\/strong><\/p>\n<p>Maiden Forgings Limited (MFL) has been manufacturing wide range of Bright Steel bars and wires from past 35 years, along with increasing focus on value add &amp; specialized products. The company is a manufacturing Industry having multiple production locations spread around Ghaziabad (National Capital Region), with total production area beyond 1,00,000 square feet.\u00a0<\/p>\n<p>If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mumbai (Maharashtra) [India], June 8:&nbsp;Maiden Forgings Limited (BSE \u2013 543874),&nbsp;manufactures wide range of Bright Steel bars and wires from past 35 years&nbsp;has&nbsp;announced&nbsp;its audited Financial Results [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":17933,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[623],"class_list":["post-17932","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/posts\/17932","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/comments?post=17932"}],"version-history":[{"count":0,"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/posts\/17932\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/media\/17933"}],"wp:attachment":[{"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/media?parent=17932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/categories?post=17932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/tags?post=17932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}