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Bharat Forge Ltd share Price Today

Company details

1,533.10
1,591.00
766.30
1,591.00
6M Return 40.92%
1Y Return 106.26%
Mkt Cap.(Cr) 73,190.59
Volume 2,895,264
Div Yield 0.57%
OI
-
OI Chg %
-
Volume 2,895,264

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About The Stock

    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.

    • FY22 standalone segment mix – ~30% CV, ~47% Industrial, ~12% PV
    • FY22 standalone export mix - ~68% America, ~29% Europe, ~3% other
Q3FY23

    BFL reported healthy performance in Q3FY23 on standalone basis

    • Standalone sales were up 5.9% QoQ to ₹1,952 crore, tonnage up 2.6% QoQ
    • EBITDA was at ₹535 crore, with margins up 310 bps QoQ to 27.4%.
    • PAT was up 7.8% QoQ to ₹289.1 crore
    • Domestic operations secured new business amounting to ~₹ 265 Crores across automotive & industrial application. The defence vertical of the company also secured an export order worth ~₹600 crores with total orderbook in this domain pegged at ~₹1,950 crores (primarily exports).

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Research view on more stocks

Industrial Products company Bharat Forge announced Q3FY24 results:

Consolidated Q3FY24:

  • Revenues have increased by 15% on a YoY to Rs 38,664 million, driven by contributions from all businesses.
  • EBITDA margins have improved by 450 bps to Rs 6,727 million, driven by initial signs of turnaround in the international businesses. Absolute EBITDA grew by 56%.
  • PBT has increased by 85% on a YoY to Rs 3,933 million, driven by an improvement in performance at KSSL and a reduction in losses in the international business.

Standalone Q3FY24:

  • Revenues at Rs 22,634 million in Q3FY24 grew by 16% YoY driven by 36% growth in domestic revenue.
  • The Defence business was a major contributor to the growth in revenues while Oil & Gas sector and Agri sector saw a decline in Q3FY24 as compared to Q3FY23.
  • EBITDA margin at 28.5% in Q3FY24 was up 330 bps YoY. Improved product mix and higher capacity utilization contributed to superior operational performance
  • PBT before Exchange gain/ (loss) was Rs 4,865 million in Q3FY24 as against Rs 3,379 million in Q3FY23.

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."

Result PDF

View Other Company Results

Bharat Forge Ltd shares SWOT Analysis

Strengths (11)

  • Strong Momentum: Price above short, medium and long term moving averages
  • Company with high TTM EPS Growth
  • Strong Annual EPS Growth

Weakness (2)

  • MFs decreased their shareholding last quarter
  • High volume, top losers

Opportunity (1)

  • Highest Recovery from 52 Week Low

Threats (1)

  • High PE (PE > 40)

Resistance and support

R1 1,597.6
R2 1,623.3
R3 1,655.5
Pivot

1,565.37

S1 1,539.7
S2 1,507.5
S3 1,481.8
EMA SMA
1,426.3
1,317.5
1,245.6
1,156.2
1,408.7
1,260.2
1,233.0
1,159.3
Delivery and volume
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
Name Category Shares
KALYANI INVESTMENT COMPANY LIMITED PROMOTER 13.6%
SUNDARAM TRADING AND INVESTMENT PVT LTD PROMOTER 11.86%
KSL HOLDINGS PRIVATE LIMITED PROMOTER 9.94%
BF INVESTMENT LIMITED PROMOTER 3.35%
AJINKYA INVESTMENT AND TRADING COMPANY PROMOTER 3.22%
JANNHAVI INVESTMENT PVT. LTD. PROMOTER 1.01%

OUR RESEARCH VIEW

Investment recommendation
Call Date
22 Feb 2023
Entry Price 825.00
Target Price 1,050.00
Duration
12-18 Month

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

Bharat Forge Ltd Stocks COMPARISON

Financials( in Cr) Bharat Forge Ltd AIA Engineering Ltd CIE Automotive India Ltd Ramkrishna Forgings Ltd PTC Industries Ltd
Price 1,572.00 3,720.25 539.40 698.15 7,892.80
% Change -0.10 -0.43 -2.72 -0.43 -2.98
Mcap Cr 73,190.59 35,089.40 20,462.79 12,620.88 11,397.99
Revenue TTM Cr 12,910.26 4,908.77 9,280.35 3,192.90 219.26
Net Profit TTM Cr 508.39 1,056.50 1,125.15 248.11 25.82
PE TTM 76.36 30.92 25.31 37.00 310.72
1 Year Return 106.26 26.58 13.73 94.69 157.08
ROCE 7.32 25.25 17.73 18.33 11.33
ROE 6.88 20.23 20.31 20.67 10.87
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 6,704.23 Cr FV: 2.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 35,090.66 -22,978.04
LAST 3M 106,793.94 -34,010.07
LAST 6M 169,541.16 45,373.47
LAST 12M 268,709.66 125,819.23
Bharat Forge Limited - Analysts/Institutional Investor Meet/Con. Call Updates

May 24, 2024 l NSE Announcement

Bharat Forge Limited - Analysts/Institutional Investor Meet/Con. Call Updates

May 23, 2024 l NSE Announcement

Bharat Forge Limited - Other General Purpose

May 21, 2024 l NSE Announcement

Date Action Type Ratio
Feb 23, 2024 Dividend 125
Jul 07, 2023 Dividend 275
Nov 24, 2022 Dividend 75

Bharat Forge Ltd Information

Stock PE (TTM)
76.36
Promoter Holding
45.25%
Book Value
154.0024
ROCE
7.32%
ROE
6.88%
Description
  • 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.

    Disclaimer: ICICI Securities Ltd. (I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, Tel No : 022 - 6807 7100. I-Sec is a Member of National Stock Exchange of India Ltd (Member Code: 07730), BSE Ltd (Member Code: 103) and Member of Multi Commodity Exchange of India Ltd.(Member Code: 56250) and having SEBI registration no. INZ000183631. Name of the Compliance officer (broking): Ms. Mamta Shetty, Contact number: 022-40701022, E-mail address: complianceofficer@icicisecurities.com. Investments in securities market are subject to market risks, read all the related documents carefully before investing. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. Such representations are not indicative of future results. The securities quoted are exemplary and are not recommendatory. Investors should consult their financial advisers if in doubt about whether the product is suitable for them. The contents herein above are solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments or any other product. Investors should consult their financial advisers whether the product is suitable for them before taking any decision. The contents herein mentioned are solely for informational and educational purpose.

Registered Address

Mundhwa, Pune Cantonment, Pune, Maharashtra, 411036

Tel : 91-020-6704 2777/2476
Email : secretarial:bharatforge.com
Website : http://www.bharatforge.com
Registrar

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 Shares

You 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 May 27, 2024 03:59 PM the closing price of Bharat Forge Ltd was Rs.1,572.00.

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 May 27, 2024 03:59 PM, the market cap of Bharat Forge Ltd stood at Rs. 73,190.59.

The latest PE ratio of Bharat Forge Ltd as of May 27, 2024 03:59 PM is 76.36

The latest PB ratio of Bharat Forge Ltd as of May 27, 2024 03:59 PM is 0.10

The 52-week high of Bharat Forge Ltd share price is Rs. 1,591.00 while the 52-week low is Rs. 766.30

According to analyst recommendations, Bharat Forge Ltd Share has a "Buy" rating for the long term.

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