Bharat Forge Ltd
Bharat Forge is engaged in the manufacturing and selling of forged and machined Compoundant for auto and industry sector.(Source : 201903 Annual Report Page No: 123)
- Market Cap ₹ 59,330 Cr.
- Current Price ₹ 1,274
- High / Low ₹ 1,330 / 748
- Stock P/E 71.5
- Book Value ₹ 151
- Dividend Yield 0.55 %
- ROCE 7.70 %
- ROE 6.88 %
- Face Value ₹ 2.00
Pros
Cons
- Stock is trading at 8.46 times its book value
- Company has a low return on equity of 8.93% over last 3 years.
- Company might be capitalizing the interest cost
- Dividend payout has been low at 6.04% of profits over last 3 years
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Castings, Forgings & Fastners Industry: Castings & Forgings
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
6,279 | 5,167 | 6,704 | 7,622 | 6,809 | 6,396 | 8,358 | 10,146 | 8,056 | 6,336 | 10,461 | 12,910 | 15,147 | |
5,282 | 4,419 | 5,783 | 6,232 | 5,397 | 5,276 | 6,635 | 8,098 | 6,984 | 5,504 | 8,478 | 11,174 | 12,794 | |
Operating Profit | 997 | 748 | 921 | 1,390 | 1,413 | 1,121 | 1,723 | 2,048 | 1,072 | 832 | 1,983 | 1,737 | 2,353 |
OPM % | 16% | 14% | 14% | 18% | 21% | 18% | 21% | 20% | 13% | 13% | 19% | 13% | 16% |
91 | 94 | 298 | 226 | 148 | 391 | 46 | 199 | 109 | -138 | 288 | 124 | 192 | |
Interest | 186 | 167 | 169 | 136 | 116 | 100 | 107 | 127 | 171 | 108 | 160 | 299 | 473 |
Depreciation | 302 | 320 | 357 | 362 | 453 | 452 | 467 | 521 | 548 | 612 | 730 | 736 | 822 |
Profit before tax | 600 | 355 | 693 | 1,118 | 992 | 960 | 1,196 | 1,599 | 462 | -25 | 1,381 | 827 | 1,250 |
Tax % | 30% | 43% | 30% | 32% | 32% | 26% | 37% | 35% | 24% | -399% | 22% | 39% | |
420 | 202 | 482 | 760 | 675 | 711 | 754 | 1,033 | 349 | -127 | 1,077 | 508 | 811 | |
EPS in Rs | 8.87 | 5.32 | 10.71 | 16.38 | 14.57 | 15.13 | 16.38 | 22.17 | 7.51 | -2.71 | 23.23 | 11.35 | 18.27 |
Dividend Payout % | 23% | 32% | 21% | 23% | 26% | 25% | 27% | 23% | 47% | -74% | 30% | 62% |
Compounded Sales Growth | |
---|---|
10 Years: | 10% |
5 Years: | 9% |
3 Years: | 17% |
TTM: | 18% |
Compounded Profit Growth | |
---|---|
10 Years: | 6% |
5 Years: | -11% |
3 Years: | 7% |
TTM: | 33% |
Stock Price CAGR | |
---|---|
10 Years: | 20% |
5 Years: | 21% |
3 Years: | 27% |
1 Year: | 62% |
Return on Equity | |
---|---|
10 Years: | 14% |
5 Years: | 11% |
3 Years: | 9% |
Last Year: | 7% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 47 | 47 | 47 | 47 | 47 | 47 | 93 | 93 | 93 | 93 | 93 | 93 | 93 |
Reserves | 2,137 | 2,210 | 2,637 | 3,398 | 3,367 | 4,070 | 4,557 | 5,282 | 5,125 | 5,321 | 6,476 | 6,611 | 6,919 |
2,761 | 2,784 | 2,561 | 2,546 | 3,375 | 3,124 | 3,257 | 4,029 | 4,469 | 5,271 | 5,972 | 7,313 | 7,504 | |
2,390 | 2,554 | 2,290 | 2,245 | 1,504 | 1,600 | 2,069 | 2,174 | 1,795 | 2,403 | 2,951 | 4,217 | 4,463 | |
Total Liabilities | 7,334 | 7,595 | 7,534 | 8,236 | 8,292 | 8,841 | 9,977 | 11,578 | 11,482 | 13,088 | 15,492 | 18,235 | 18,979 |
2,653 | 2,910 | 2,534 | 2,629 | 3,134 | 3,277 | 3,500 | 3,625 | 4,002 | 4,750 | 4,870 | 6,161 | 6,239 | |
CWIP | 517 | 632 | 583 | 870 | 409 | 453 | 344 | 831 | 1,143 | 900 | 1,125 | 701 | 716 |
Investments | 445 | 416 | 801 | 496 | 886 | 1,192 | 1,501 | 1,524 | 1,618 | 2,607 | 2,604 | 2,569 | 2,368 |
3,720 | 3,636 | 3,617 | 4,242 | 3,863 | 3,919 | 4,632 | 5,599 | 4,720 | 4,831 | 6,893 | 8,804 | 9,657 | |
Total Assets | 7,334 | 7,595 | 7,534 | 8,236 | 8,292 | 8,841 | 9,977 | 11,578 | 11,482 | 13,088 | 15,492 | 18,235 | 18,979 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
686 | 735 | 716 | 1,035 | 1,356 | 1,052 | 967 | 911 | 1,522 | 1,020 | 506 | 1,294 | |
-1,034 | -232 | -244 | -467 | -888 | -737 | -722 | -1,196 | -1,114 | -1,511 | -690 | -1,666 | |
462 | -330 | -640 | -360 | -448 | -401 | -314 | 368 | -381 | 578 | 310 | 280 | |
Net Cash Flow | 115 | 173 | -168 | 208 | 19 | -86 | -69 | 83 | 26 | 87 | 126 | -91 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 47 | 56 | 47 | 41 | 75 | 77 | 85 | 77 | 68 | 81 | 75 | 87 |
Inventory Days | 137 | 188 | 154 | 131 | 142 | 161 | 151 | 160 | 177 | 249 | 235 | 191 |
Days Payable | 148 | 153 | 157 | 144 | 119 | 127 | 148 | 118 | 105 | 167 | 141 | 132 |
Cash Conversion Cycle | 37 | 91 | 45 | 28 | 98 | 111 | 88 | 119 | 140 | 163 | 169 | 147 |
Working Capital Days | 18 | 18 | 22 | 58 | 81 | 64 | 75 | 90 | 77 | 114 | 112 | 107 |
ROCE % | 17% | 11% | 15% | 21% | 17% | 13% | 18% | 20% | 7% | 3% | 11% | 8% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
6h - An Analyst / Investor Conference Call has been organized on Wednesday, May 08, 2024 from 2:00 PM to 3:00 PM (IST) by the Company to …
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 29 Apr
- Board Meeting Intimation for Consideration And Approval Of Audited Standalone And Consolidated Financial Results Of The Company For The Quarter And Year Ended March 31, 2024 And To Recommend Final Dividend, If Any 26 Apr
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 22 Apr
- Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 22 Apr
Annual reports
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
-
Financial Year 2019
from bse
-
Financial Year 2018
from bse
-
Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from bse
-
Financial Year 2012
from bse
-
Financial Year 2012
from nse
-
Financial Year 2011
from bse
-
Financial Year 2010
from bse
Concalls
-
Feb 2024TranscriptPPT
-
Nov 2023Transcript PPT
-
Sep 2023Transcript PPT
-
Jun 2023TranscriptNotesPPT
-
May 2023TranscriptNotesPPT
-
May 2023Transcript PPT
-
Feb 2023TranscriptPPT
-
Nov 2022TranscriptPPT
-
Aug 2022TranscriptPPT
-
May 2022TranscriptPPT
-
Mar 2022TranscriptPPT
-
Feb 2022TranscriptPPT
-
Nov 2021TranscriptPPT
-
Aug 2021TranscriptPPT
-
Jun 2021TranscriptPPT
-
Feb 2021TranscriptPPT
-
Feb 2021TranscriptPPT
-
Dec 2020TranscriptPPT
-
Nov 2020TranscriptPPT
-
Sep 2020TranscriptPPT
-
Aug 2020TranscriptPPT
-
Jul 2020TranscriptPPT
-
Apr 2020TranscriptPPT
-
Feb 2020TranscriptPPT
-
Nov 2019Transcript PPT
-
Nov 2019TranscriptPPT
-
Oct 2019TranscriptNotesPPT
-
Aug 2019TranscriptPPT
-
Aug 2019Transcript PPT
-
May 2019TranscriptPPT
-
Mar 2019TranscriptPPT
-
Feb 2019Transcript PPT
-
Nov 2018TranscriptPPT
-
Nov 2018TranscriptPPT
-
Aug 2018Transcript PPT
-
Jun 2018TranscriptPPT
-
May 2018TranscriptPPT
-
Mar 2018TranscriptPPT
-
Feb 2018Transcript PPT
-
Feb 2018TranscriptPPT
-
Nov 2017TranscriptNotesPPT
-
Aug 2017Transcript PPT
-
Aug 2017TranscriptPPT
-
May 2017TranscriptPPT
-
Feb 2017TranscriptPPT
-
Aug 2016TranscriptPPT
-
May 2016TranscriptPPT
-
Dec 2015TranscriptNotesPPT
-
Oct 2015TranscriptPPT
-
Jul 2015TranscriptPPT
Part of Kalyani Group
Bharat Forge Ltd (BFL) belongs to the Kalyani Group which has an annual turnover of more than USD 3 Billion. Apart from the forging Industry, the group has their presence in Engineering Steel, Automotive, Industrial, Renewable Energy, Urban Infrastructure and Specialty Chemicals and the group maintains several leading positions in various business segments. [1]