Key Metrics of Sunstar Precision Forge Limited
About Sunstar Precision Forge Limited
Sectors
Company details
Operational Areas of Sunstar Precision Forge Limited
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
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Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 06 Oct 2026 | ICRA | Reaffirmed | BBB+ | — | Stable | — | View |
Credit strengths (ICRA, Oct 2026)
+ Established operational track record
Incorporated in 2005, Sunstar has built a strong track record in manufacturing forged and machined components for diverse applications across both automotive and non-automotive sectors.
+ Long relationships with a large client base
Sunstar’s client base consists of large organised automotive component suppliers such as Meritor (now part of Cummins) and Dana Incorporated.
+ Adequate financial risk profile
Sunstar’s financial profile continues to be adequate, characterised by revenue growth, consistent earnings and adequate debt protection metrics.
Credit challenges
− High working capital intensity of operations
Sunstar’s operations remained working capital intensive with NWC/OI of about 40% in FY2026, similar to the previous year.
− Sizeable level of loans extended to promoter group entities
The company has extended sizeable unsecured loans to promoter group entities, which increased to around Rs. 60 crore as on March 31, 2026, from around Rs. 55 crore as on March 31, 2025.
− Exposed to cyclicality in automotive industry amid intense competition from peers
Sunstar is exposed to industry cyclicality due to significant revenue dependence on the CV segment.
− Exposure to foreign exchange fluctuations and input price volatility
More than 30% of the company’s revenues are derived from export sales.
Could lead to an upgrade
The rating could be upgraded in case of a significant scale-up in revenues and profitability of the company, along with diversification in its geographical and customer profile on a sustained basis.
Could lead to a downgrade
The rating could be downgraded in case of considerable pressure on revenue and profitability or any larger- than-expected debt-funded capex, resulting in a deterioration in debt protection metrics. Further, a material delay in the recovery of unsecured loans from promoter group entities or any sizeable extension of incremental loans could elevate Sunstar’s funding requirements, constrain its
Agency-reported financials (ICRA, 06 Oct 2026)
| Metric | FY2025 | FY2026 |
|---|---|---|
| Operating income | ₹359 Cr | ₹335 Cr |
| PAT | ₹33.50 Cr | ₹21.10 Cr |
| OPBDIT/OI | 12.6% | 9.9% |
| PAT/OI | 9.3% | 6.3% |
| Total outside liabilities/Tangible net worth (times) | 1.00× | 0.90× |
| Total debt/OPBDIT (times) | 2.40× | 3.50× |
| Interest coverage (times) | 9.90× | 5.00× |
| Revenue growth (YoY) | — | −6.7% |
| EBITDA (margin × income) | ₹45.22 Cr | ₹33.17 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹109 Cr | ₹116 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹4.57 Cr | ₹6.63 Cr |
Borrowings & rated debt
Credit assessment · Auto components
Rating Methodology – Auto Components and Equipment (Oct 2026) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 55% |
| Information on file | 44% · missing: Annual results history (3+ years), Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 55% chance the next rating action is stable or better
- Current rating BBB+ (investment grade)
- Interest coverage 5×
Rated limits by facility
Timeline
From the report
However, it can pass on most of the cost variations, albeit with a lag, which re sults in some margin volatility. www.icra.in Sensitivity Label : Public Page |2 Liquidity position: Adequate Sunstar’s liquidity position remains adequate, supported by steady cash flow generation, cash and liquid investment of around Rs. 4 crore and unutilised working capital of Rs. 25 crore as of August 2026.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Sunstar Precision Forge Limited
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 Bharat Forge |
Part of Bharat Forge. | bharatforge.com | 1961 | Pune, India |
| SONA BLW PRECISION FORGINGS LIMITED | · Manufacturing (Metals and Chemicals, and products thereof) | — | — | Gurgaon, Haryana, India |
 MM Forgings |
Forging · Auto Components, Forging & Casting | mmforgings.com | — | Guindy, India |
 Happy Forgings |
Manufacturing · Forging and Machining | happyforgingsltd.com | — | Ludhiana, India |
| BALU FORGE INDUSTRIES LIMITED | · Manufacturing (Machinery and Equipments) | — | — | Mumbai, Maharashtra, India |
| Kalyani Forge Limited | Forging · Auto Components, Forging & Casting | — | — | Pune, Maharashtra, India |
| Unique Forgings (India) Private Limited | Forging · Auto Components, Forging & Casting | — | — | Gujarat, India |
| TIRUPATI FORGE LIMITED | · Manufacturing (Metals and Chemicals, and products thereof) | — | — | Rajkot, Gujarat, India |
| Echjay Forgings Private Limited | Forging · Auto Components, Forging & Casting | — | — | Maharashtra, India |
| Hindusthan Malleables & Forgings Limited | Forging · Auto Components, Forging & Casting | — | — | Dhanbad, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.