Bharat Forge Ltd

Bharat Forge Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Bharat Forge Ltd

₹ 1,227 -2.38%
20 May - close price
bharatforge.com BSE: 500493 NSE: BHARATFORG
About

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)

Key Points

Part of Kalyani Group
The company belongs to the Kalyani Group which has an annual turnover of more than USD 3 Billion. Apart from the forging Industry, the group has a presence in engineering steel, automotive, industrial, renewable energy, urban infrastructure, and specialty chemicals and maintains a leading position in various business segments. [1]

Website BSE NSE
  • Market Cap ₹ 58,681 Cr.
  • Current Price ₹ 1,227
  • High / Low ₹ 1,826 / 919
  • Stock P/E 58.3
  • Book Value ₹ 194
  • Dividend Yield 0.73 %
  • ROCE 13.1 %
  • ROE 12.3 %
  • Face Value ₹ 2.00
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Pros

  • Company has been maintaining a healthy dividend payout of 49.6%

Cons

  • Stock is trading at 6.34 times its book value
  • Company has a low return on equity of 10.8% over last 3 years.
  • Company might be capitalizing the interest cost

* 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

Part of BSE 500 BSE 100 BSE 200 Nifty 500 BSE Auto

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
3,573 2,851 3,076 3,353 3,629 3,877 3,774 3,866 4,164 4,106 3,689 3,476 3,853
3,030 2,426 2,645 2,914 3,191 3,282 3,153 3,169 3,521 3,365 3,042 2,853 3,174
Operating Profit 543 425 432 439 438 595 621 698 643 741 647 623 679
OPM % 15% 15% 14% 13% 12% 15% 16% 18% 15% 18% 18% 18% 18%
70 30 44 37 17 67 51 58 45 -99 62 38 57
Interest 63 40 53 109 97 114 124 137 116 124 110 96 88
Depreciation 214 181 188 186 181 206 211 224 207 218 213 218 224
Profit before tax 337 235 235 181 177 341 337 395 366 300 385 347 424
Tax % 31% 32% 40% 56% 28% 37% 36% 36% 38% 42% 37% 39% 33%
232 160 142 79 128 214 215 254 227 175 243 213 283
EPS in Rs 5.06 3.53 3.13 1.77 2.91 4.80 4.88 5.68 5.07 4.36 5.23 4.45 5.90
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
6,704 7,622 6,809 6,396 8,358 10,146 8,056 6,336 10,461 12,910 15,682 15,123
5,783 6,232 5,397 5,276 6,635 8,098 6,984 5,504 8,478 11,174 13,121 12,433
Operating Profit 921 1,390 1,413 1,121 1,723 2,048 1,072 832 1,983 1,737 2,562 2,690
OPM % 14% 18% 21% 18% 21% 20% 13% 13% 19% 13% 16% 18%
298 226 148 391 46 199 109 -138 288 124 217 57
Interest 169 136 116 100 107 127 171 108 160 299 491 417
Depreciation 357 362 453 452 467 521 548 612 730 736 848 874
Profit before tax 693 1,118 992 960 1,196 1,599 462 -25 1,381 827 1,439 1,456
Tax % 30% 32% 32% 26% 37% 35% 24% 399% 22% 39% 37% 37%
482 760 675 711 754 1,033 349 -127 1,077 508 910 913
EPS in Rs 10.71 16.38 14.57 15.13 16.38 22.17 7.51 -2.71 23.23 11.35 20.43 19.69
Dividend Payout % 21% 23% 26% 25% 27% 23% 47% -74% 30% 62% 44% 43%
Compounded Sales Growth
10 Years: 7%
5 Years: 13%
3 Years: 13%
TTM: -4%
Compounded Profit Growth
10 Years: 3%
5 Years: 22%
3 Years: 3%
TTM: 14%
Stock Price CAGR
10 Years: 7%
5 Years: 34%
3 Years: 22%
1 Year: -18%
Return on Equity
10 Years: 13%
5 Years: 11%
3 Years: 11%
Last Year: 12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 47 47 47 47 93 93 93 93 93 93 93 96
Reserves 2,637 3,398 3,367 4,070 4,559 5,283 5,127 5,322 6,478 6,612 7,077 9,158
2,561 2,546 3,375 3,124 3,257 4,029 4,469 5,271 5,972 7,313 7,948 6,698
2,290 2,245 1,504 1,600 2,068 2,173 1,793 2,402 2,950 4,216 4,066 4,137
Total Liabilities 7,534 8,236 8,292 8,841 9,977 11,578 11,482 13,088 15,492 18,235 19,184 20,088
2,534 2,629 3,134 3,277 3,500 3,625 4,002 4,750 4,870 6,161 6,309 6,633
CWIP 583 870 409 453 344 831 1,143 900 1,125 701 991 1,725
Investments 801 496 886 1,192 1,501 1,524 1,618 2,607 2,604 2,569 1,849 2,063
3,617 4,242 3,863 3,919 4,632 5,599 4,720 4,831 6,893 8,804 10,034 9,667
Total Assets 7,534 8,236 8,292 8,841 9,977 11,578 11,482 13,088 15,492 18,235 19,184 20,088

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
716 1,035 1,356 1,052 967 911 1,522 1,020 506 1,294 1,664 1,796
-244 -467 -888 -737 -722 -1,196 -1,114 -1,511 -690 -1,666 -665 -1,964
-640 -360 -448 -401 -314 368 -381 578 310 280 -203 -570
Net Cash Flow -168 208 19 -86 -69 83 26 87 126 -91 796 -738

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 47 41 75 77 85 77 68 81 75 87 74 70
Inventory Days 154 131 142 161 151 160 177 249 235 191 159 198
Days Payable 157 144 119 127 148 118 105 167 141 132 112 130
Cash Conversion Cycle 45 28 98 111 88 119 140 163 169 147 121 138
Working Capital Days 22 58 81 64 75 90 77 114 112 107 87 127
ROCE % 15% 21% 17% 13% 18% 20% 7% 3% 11% 8% 13% 13%

Shareholding Pattern

Numbers in percentages

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
45.25% 45.26% 45.26% 45.26% 45.26% 45.26% 45.26% 45.26% 45.26% 45.26% 44.07% 44.07%
18.82% 19.30% 17.88% 16.17% 15.79% 16.28% 16.60% 16.48% 17.04% 18.72% 17.87% 16.08%
24.33% 24.55% 26.09% 27.70% 28.61% 27.95% 27.74% 28.06% 27.96% 26.32% 28.35% 30.20%
0.16% 0.16% 0.18% 0.18% 0.18% 0.18% 0.18% 0.18% 0.18% 0.16% 0.15% 0.15%
11.44% 10.72% 10.60% 10.70% 10.17% 10.35% 10.22% 10.04% 9.58% 9.55% 9.55% 9.49%
No. of Shareholders 1,56,4451,58,8451,55,7341,62,1051,56,6861,69,9541,79,6831,89,1041,82,9881,99,7212,07,8102,14,725

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Announcements

Annual reports

DRHP

Credit ratings

Concalls