Maiden Forgings Limited, a manufacturer of bright steel bars and wires, has initiated a consolidation of its manufacturing operations as part of a broader plan to enhance operational efficiency and expand production capacity. The company has acquired a 4-acre plot in Modinagar, Ghaziabad, located approximately 25 kilometers from its existing facilities. The new site will merge two existing units and support the company’s projected growth over the next five to seven years.
This move is expected to reduce monthly costs by a minimum of INR 2.5 million, leading to estimated annual savings of INR 25 million. These savings are anticipated to directly improve profitability through streamlined operations, reduced administrative overhead, and better resource allocation. A solar plant is also planned for the new facility, which is expected to meet 50 percent of its electricity requirements.
Maiden Forgings operates three manufacturing units in Ghaziabad with a combined capacity of 53,000 metric tonnes per annum and a current capacity utilization rate of 70 percent. In FY25, the company reported total sales volumes of 29,576 metric tonnes, including 2,303 metric tonnes of stainless steel bright bars and nails. Revenue for the year stood at INR 2.14 billion, with EBITDA of INR 199.1 million and a net profit of INR 60.5 million.
As part of its forward integration strategy, the company is increasing its focus on high-margin and value-added products. This includes a project to manufacture plastic, paper, and wire-collated nails, primarily for export. The project, with a capacity of 250 tonnes per month, received an INR 80 million investment from internal accruals. The company had previously exported these products through job work since FY 2021–22 and is now shifting to in-house production to improve profitability and reduce external dependency.
Maiden Forgings is also planning forward integration into specialty steel manufacturing aimed at import substitution and the development of strong export markets. Additional product categories under evaluation include stainless steel screws, wire meshes, and CNC-made bolts, which are expected to contribute to topline growth and profit margins.
The company has also expanded its footprint in the defence sector. It was registered as a supplier with the Ordnance Factory Board in April 2024 and received its first order in September 2024. The registration is valid for five years with automatic renewal and covers specific gun and shell factory items.
Officially established in 2005, Maiden Forgings Limited manufactures bright steel bars and wires in various grades and sizes. The company has over 450 customers, including Tier 1 and Tier 2 suppliers to automotive, engineering, consumer goods, and defence sectors. It reported exports to the US and Europe accounting for 6–8 percent of its total output, all on an advance payment basis.