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Munish ForgeNSE:MUNISH +1.16%13 ROE % is 6.36% as of Mar. 2026, which is 39% below its 10-year median of 10.40. GuruFocus rates NSE:MUNISH with a GF Score™ of 13/100. The stock has 4 warning signs investors should review. Among 3,001 Industrial Products companies, Munish Forge ranks worse than 62.21% on this metric.
ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. Munish Forge's annualized net income for the quarter that ended in Mar. 2026 was ₹62 Mil. Munish Forge's average Total Stockholders Equity over the quarter that ended in Mar. 2026 was ₹968 Mil. Therefore, Munish Forge's annualized ROE % for the quarter that ended in Mar. 2026 was 6.36%.
The historical rank and industry rank for Munish Forge's ROE % or its related term are showing as below:
NSE:MUNISH'
s ROE % Range Over the Past 10 Years
Min: 3.18 Med: 10.4 Max: 26.77
Current: 3.18
During the past 5 years, Munish Forge's highest ROE % was 26.77%. The lowest was 3.18%. And the median was 10.40%.
NSE:MUNISH's ROE % is ranked worse than 62.21% of 3001
companies
in the Industrial Products industry
Industry Median: 5.85
vs NSE:MUNISH: 3.18
Munish Forge (NSE:MUNISH) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is two times the semi-annual (Mar. 2026) net income data. The Revenue data used here is two times the semi-annual (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
Munish Forge ROE % Related Terms
Munish Forge ROE % Historical Data
* Premium members only.
The historical data trend for Munish Forge's ROE % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Munish Forge ROE % Chart
Munish Forge Annual Data
Trend
Mar22
Mar23
Mar24
Mar25
Mar26
ROE %
4.18
5.62
11.48
26.77
10.40
Munish Forge Semi-Annual Data
Mar22
Mar23
Mar24
Mar25
Mar26
ROE %
0.00
0.00
0.00
29.43
6.36
NSE:MUNISH vs CRS, ATI, MLI: ROE % Comparison
For the Metal Fabrication subindustry, Munish Forge's ROE %, along with its competitors' market caps and ROE % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Munish Forge ROE % vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Munish Forge's ROE % distribution charts can be found below:
* The bar in red indicates where Munish Forge's ROE % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is two times the semi-annual (Mar. 2026) net income data.
ROE % is displayed in the 30-year financial page.
Munish Forge (NSE:MUNISH) has a ROE % of 6.36% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Munish Forge and its competitors. This is 39% below median its historical median of 10.40. Over the past decade, Munish Forge's ROE % has ranged from 3.18 to 26.77. According to the industry distribution chart, Munish Forge ranks #1867 out of 3001 companies in the Industrial Products industry, placing it in the top 62.2%.
Is Munish Forge's ROE % too high?
Munish Forge's current ROE % of 6.36% is 39% below median its 10-year median of 10.40. Over the past 10 years, this metric has ranged from a low of 3.18 to a high of 26.77. The Industrial Products industry median ROE % is 5.85. Munish Forge's value of 6.36% is 8.7% above this industry median. Based on the distribution chart, Munish Forge ranks #1867 out of 3001 companies in the Industrial Products industry, which is below the industry midpoint. Overall, Munish Forge has a GF Score™ of 13/100, reflecting its overall financial health beyond just this single metric.
How does Munish Forge's ROE % compare to CRS and ATI?
According to the Industrial Products industry distribution chart, Munish Forge ranks #1867 out of 3001 companies for ROE %. This places Munish Forge in the lower half of its industry. The industry median ROE % is 5.85. Munish Forge's value of 6.36% is 8.7% above this benchmark. Historically, Munish Forge's own ROE % has ranged from 3.18 to 26.77 over the past decade. While the company's 10-year median is 10.40 vs. the industry median of 5.85, Munish Forge has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROE % for an Industrial Products company?
The median ROE % among Industrial Products companies is 5.85, based on 3,001 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Munish Forge's current ROE % of 6.36% is 8.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Munish Forge and its competitors. For the Industrial Products industry, the median ROE % is 5.85 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Munish Forge's current ROE % is 6.36%, which is 39% below median its own 10-year median of 10.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Munish Forge stock overvalued right now?
Munish Forge (NSE:MUNISH) has a current ROE % of 6.36%. The current ROE % is 6.36%, which is 39% below median its 10-year median of 10.40 and 8.7% above the Industrial Products industry median of 5.85. Munish Forge's overall GF Score™ is 13/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Munish Forge (NSE:MUNISH), the current ROE % is 6.36% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Munish Forge Ltd is a manufacturer in the forging and casting industry, specializing in manufacturing premium forged and cast components. It manufactures components like Flange, Scaffolding, Auto parts, Tank tracks chains, Bomb shells, Fence post and steel accessories as per customer specifications and International Standard catering to the requirements of Indian Army and various industries such as Defence, Oil and Gas, Automobile, Construction and Infrastructure.
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