Balu Forge zooms 12% as IT search concludes with no incriminating findings

Balu Forge Industries shares jumped 11.7 per cent on BSE, registering an intra-day high at ₹493.25 per share. The buying on the counter came after the company informed that the income tax department did not find any incriminating documents during its search.

 

At 10:02 AM, Balu Forge Industries’ share price was trading 7.87 per cent higher at ₹476.05 on the BSE. In comparison, the Sensex was down 0.34 per cent at 83,596.86. The stock commands a market capitalisation of ₹5,422.02 crore, with its 52-week high at ₹784 per share and a 52-week low at ₹429 per share.

 

According to the filing, the Income Tax Department (the Department) conducted a search under the Income Tax Act, 1961, at some of the company’s offices and manufacturing units on January 7, 2026, and the same was concluded on January 13, 2026.

 

 

The company, its promoters and key managerial personnel (KMP) fully cooperated with the officials and provided all documents/clarifications/details sought by them. No incriminating documents were found or seized by the Department during their operation. 

 

Further, the business operations and production of the company continued as usual and were not impacted due to the search. There is no material adverse impact on the financial position of the company. 

 

That apart, in December 2025, Balu Forge commenced operations of its empty shell production line - one of the first 100 per cent indigenously built production lines in India - at its greenfield manufacturing campus in Belgaum, Karnataka. The line with an annual production capacity of 360,000 shells has an advanced forging and machining line for large calibre ammunition projectiles.

 

The empty shell production line enhances Balu Forge’s capability to deliver advanced machining

solutions for critical applications in the defence industry. The company has plans to further expand the production line to meet the global and domestic demand.

 

Balu Forge Industries Limited is an Indian precision engineering company delivering forged and machined components across multiple global industries. The company offers a comprehensive

product portfolio ranging from 1 kg to 1,500 kg and up to 3 meters in length, supporting diverse applications in automotive, industrial vehicles, earthmoving equipment, wind energy, aerospace, defence, oil and gas, railways, marine, and agriculture.