Bharat Forge (BFL) is India’s leading auto component exporter with strong engineering, technological competencies in forging and metallurgy. With total capacity of 6.83 lakh MT per annum, its products find application in domestic, exports markets across PV, CV, oil & gas, construction & mining, power, defence, etc.
BFL reported healthy performance in Q3FY23 on standalone basis
Consolidated Q3FY24:
Standalone Q3FY24:
B.N. Kalyani, Chairman & Managing Director, said, "During the quarter, the company delivered a strong performance with sales growing by 15.9% to Rs 2,263 crore and EBITDA growing by 30.9% to Rs 645 crore. EBITDA margins at 28.5% expanded by 330 bps driven by favorable product mix and focus on cost optimization. The balance sheet continues to remain very healthy with Cash on books of ~Rs 1,000 crore (Net of Long-Term Loans). At a consolidated level, Revenues have grown by 15% to Rs 3,867 crore and EBITDA grew by 56% to Rs 673 crore. Exports from Indian manufacturing operations across components, defense & Industrial in Q3FY24 stand at US$ 200 million, a growth of 36% over Q3FY23. Over time, We expect this number to grow as the new verticals scale up and we enhance our presence in the industrial space.
For 9MFY24, standalone sales have grown by 19% to Rs 6,640 crore and EBITDA grew by 29% to Rs 1,815 crore. A key driver of this growth is the successful ramp-up of the defense business, in addition to the growth in the core forging business.
During the quarter, the company has secured new business worth Rs 550 crore across Automotive, Industrial, Defense, Aerospace, and Castings (Ferrous & Aluminum).
In the overseas operations, we have been able to achieve improvement in operational parameters at the Aluminum business in Europe and the same is expected in the US plant soon. We continue to work on creating a sustained path to profitability for the overseas business driven by a combination of achieving profitability in the aluminum business and product/manufacturing optimization in the steel business, all expected to materialize in the next 12 – 18 months.
Looking ahead in the Q4 & further into FY25, we expect the growth momentum to moderate in both the Domestic & Export markets across industries. Our endeavor will be to outperform the market driven by our diversified business mix."
| CLIENT NAME | DEAL TYPE | ACTION | DATE | AVG. PRICE | QUANTITY | EXCHANGE |
|---|---|---|---|---|---|---|
| ISHARES CORE MSCI EMERGING MARKETS ETF | Block | Purchase | 2022-11-14 | 886.95 | 371305 | NSE |
| ISHARES CORE EMERGING MARKETS MAURITIUS CO | Block | Sell | 2022-11-14 | 886.95 | 371305 | NSE |
| ISHARES CORE MSCI EMERGING MARKETS ETF | Block | Purchase | 2022-11-03 | 846.3 | 371305 | BSE |
| Financials( ₹ in Cr) | Bharat Forge Ltd | AIA Engineering Ltd | CIE Automotive India Ltd | TVS Holdings Ltd | Ramkrishna Forgings Ltd |
|---|---|---|---|---|---|
| Price | 1,206.55 | 3,843.20 | 497.80 | 8,297.45 | 757.35 |
| % Change | 0.17 | -0.06 | 4.36 | 0.47 | 1.32 |
| Mcap ₹ Cr | 56,175.64 | 36,249.06 | 18,884.64 | 16,787.40 | 13,691.07 |
| Revenue TTM ₹ Cr | 12,910.26 | 4,908.77 | 8,753.00 | 33,564.21 | 3,192.90 |
| Net Profit TTM ₹ Cr | 508.39 | 1,056.50 | -136.20 | 1,333.17 | 248.11 |
| PE TTM | 64.37 | 31.77 | 22.68 | 21.13 | 42.74 |
| 1 Year Return | 52.59 | 40.88 | 36.76 | 152.86 | 135.75 |
| ROCE | 7.32 | 25.25 | 13.95 | 13.41 | 18.33 |
| ROE | 6.88 | 20.23 | -1.65 | 32.05 | 20.67 |
Equity Capital: 6,704.23 Cr FV: 2.00
| Period | MF Net Purchase / (sold) | FII Net |
|---|---|---|
| LAST 1M | 19,463.02 | -3,609.06 |
| LAST 3M | 83,632.14 | 32,580.07 |
| LAST 6M | 140,794.69 | 70,960.51 |
| LAST 12M | 216,582.31 | 196,780.81 |
| Date | Action Type | Ratio |
|---|---|---|
| Feb 23, 2024 | Dividend | 125 |
| Jul 07, 2023 | Dividend | 275 |
| Nov 24, 2022 | Dividend | 75 |
Bharat Forge Limited is an India-based multinational company engaged in the business of metal forming. The sectors in which this company operates are forging, casting, and fastening. The company serves several industries, including automobile, oil, power, gas, rail, marine, aerospace, mining, and construction. The company was incorporated on 19 June 1961 as a part of the Kalyani Group, and its headquarters are located in Pune, Maharashtra. As of 15 October 2022, the market capitalisation of the company stood at Rs 34,838 crore.
The company is listed on the National Stock Exchange and the Bombay Stock Exchange under the codes BHARATFORG and 500493, respectively. The company is a part of indices Nifty 200, Nifty 500, Nifty Auto, and S&P BSE 100, among others.
Bharat Forge is India’s largest manufacturer and exporter of automotive components. Along with India, the company serves several international markets. The company is also one of the leading suppliers of aviation components. As of 15 October 2022, it has 10 manufacturing units spread across India, Sweden, Germany, France, and North America. For the quarter that ended June 2022, the company reported consolidated sales of Rs 2,851.46 crore with a net profit of Rs 164.45 crore.
The shareholding pattern of the company revealed that a 45.25% stake in the company is owned by promoters, 18.90% of the stake is invested in mutual funds, an 18.82% stake is owned by foreign institutional investors, an 11.69% stake is owned by retail investors, and the remaining 5.34% stake belonged to other domestic institutions. The company’s management team comprises Mr B N Kalyani (Chairman and MD), Mr G K Agarwal (Deputy Managing Director), Mr Amit B Kalyani (Deputy Managing Director), Mr P G Pawar (Independent Director), and Mr B P Kalyani among others.
On 14 October 2022, after closing, Bharat Forge Limited’s share price was Rs 747.80 at the NSE and Rs 748.45 at the BSE. The 52-week low and 52-week high prices of this share are Rs 595.85 and Rs 848.00, respectively. The shares have provided a six-month return of 2.12% and a one-year return of -6.94%. The top peers of the company include Sundaram Fasteners, Sona BLW Precision, AIA Engineering, and Mahindra CIE.
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Mundhwa, Pune Cantonment, Pune, Maharashtra, 411036
| Tel | : | 91-020-6704 2777/2476 |
| : | secretarial:bharatforge.com | |
| Website | : | http://www.bharatforge.com |
Bharat Forge Ltd
| AGM Date (Month) | : | Aug |
| Face Value Equity Shares | : | 2 |
| Market Lot Equity Shares | : | 1 |
| BSE Code | : | 500493 |
| NSE Code | : | BHARATFORG |
| Book Closure Date (Month) | : | |
| BSE Group | : | A |
| ISIN | : | INE465A01025 |
FAQ’s on Bharat Forge Ltd SharesYou can buy Bharat Forge Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Bharat Forge Ltd Share.
Company share prices and volatile and keep changing according to the market conditions. As of Apr 23, 2024 04:02 PM the closing price of Bharat Forge Ltd was ₹ 1,206.55.
Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Apr 23, 2024 04:02 PM, the market cap of Bharat Forge Ltd stood at ₹ 56,175.64.
The latest PE ratio of Bharat Forge Ltd as of Apr 23, 2024 04:02 PM is 64.37
The latest PB ratio of Bharat Forge Ltd as of Apr 23, 2024 04:02 PM is 0.13
The 52-week high of Bharat Forge Ltd share price is ₹ 1,330.00 while the 52-week low is ₹ 748.40
According to analyst recommendations, Bharat Forge Ltd Share has a “Buy” rating for the long term.
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