Bharat Forge Ltd

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

Bharat Forge Ltd

₹ 1,990 -0.16%
08 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 ₹ 95,125 Cr.
  • Current Price ₹ 1,990
  • High / Low ₹ 2,044 / 1,100
  • Stock P/E 80.6
  • Book Value ₹ 200
  • Dividend Yield 0.43 %
  • ROCE 13.1 %
  • ROE 12.5 %
  • Face Value ₹ 2.00
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Pros

  • Company has delivered good profit growth of 39.8% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 41.6%

Cons

  • Stock is trading at 9.93 times its book value
  • Company has a low return on equity of 12.4% 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

Consumer Discretionary Automobile and Auto Components Auto Components Auto Components & Equipments

Part of BSE 500 BSE 200 BSE Dollex 200 Nifty 500 BSE Auto

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
3,629 3,877 3,774 3,866 4,164 4,106 3,689 3,476 3,853 3,909 4,032 4,343 4,528
3,191 3,282 3,153 3,169 3,521 3,365 3,042 2,853 3,174 3,239 3,308 3,597 3,751
Operating Profit 438 595 621 698 643 741 647 623 679 670 724 746 777
OPM % 12% 15% 16% 18% 15% 18% 18% 18% 18% 17% 18% 17% 17%
17 67 51 58 45 -99 62 38 57 50 54 -13 -46
Interest 97 114 124 137 116 124 110 96 88 82 80 77 84
Depreciation 181 206 211 224 207 218 213 218 224 226 241 249 255
Profit before tax 177 341 337 395 366 300 385 347 424 411 457 407 392
Tax % 28% 37% 36% 36% 38% 42% 37% 39% 33% 31% 34% 33% 40%
128 214 215 254 227 175 243 213 283 284 299 273 233
EPS in Rs 2.91 4.80 4.88 5.68 5.07 4.36 5.23 4.45 5.90 5.93 6.26 5.53 4.86
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
7,622 6,809 6,396 8,358 10,146 8,056 6,336 10,461 12,910 15,682 15,123 16,812
6,232 5,397 5,276 6,635 8,098 6,984 5,504 8,478 11,174 13,121 12,431 13,894
Operating Profit 1,390 1,413 1,121 1,723 2,048 1,072 832 1,983 1,737 2,562 2,692 2,917
OPM % 18% 21% 18% 21% 20% 13% 13% 19% 13% 16% 18% 17%
226 148 391 46 199 109 -138 288 124 217 55 44
Interest 136 116 100 107 127 171 108 160 299 491 417 323
Depreciation 362 453 452 467 521 548 612 730 736 848 874 971
Profit before tax 1,118 992 960 1,196 1,599 462 -25 1,381 827 1,439 1,456 1,667
Tax % 32% 32% 26% 37% 35% 24% 399% 22% 39% 37% 37% 35%
760 675 711 754 1,033 349 -127 1,077 508 910 913 1,089
EPS in Rs 16.38 14.57 15.13 16.38 22.17 7.51 -2.71 23.23 11.35 20.43 19.69 22.58
Dividend Payout % 23% 26% 25% 27% 23% 47% -74% 30% 62% 44% 43% 38%
Compounded Sales Growth
10 Years: 9%
5 Years: 22%
3 Years: 9%
TTM: 11%
Compounded Profit Growth
10 Years: 6%
5 Years: 40%
3 Years: 35%
TTM: 24%
Stock Price CAGR
10 Years: 18%
5 Years: 25%
3 Years: 37%
1 Year: 71%
Return on Equity
10 Years: 12%
5 Years: 12%
3 Years: 12%
Last Year: 13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 47 47 47 93 93 93 93 93 93 93 96 96
Reserves 3,398 3,367 4,070 4,559 5,283 5,127 5,322 6,478 6,612 7,077 9,158 9,484
2,546 3,375 3,124 3,257 4,029 4,469 5,271 5,972 7,313 7,948 6,698 7,309
2,245 1,504 1,600 2,068 2,173 1,793 2,402 2,950 4,216 4,066 4,017 5,372
Total Liabilities 8,236 8,292 8,841 9,977 11,578 11,482 13,088 15,492 18,235 19,184 19,968 22,260
2,629 3,134 3,277 3,500 3,625 4,002 4,750 4,870 6,161 6,309 6,627 8,262
CWIP 870 409 453 344 831 1,143 900 1,125 701 991 1,732 1,251
Investments 496 886 1,192 1,501 1,524 1,618 2,607 2,604 2,569 1,849 2,063 1,738
4,242 3,863 3,919 4,632 5,599 4,720 4,831 6,893 8,804 10,034 9,547 11,008
Total Assets 8,236 8,292 8,841 9,977 11,578 11,482 13,088 15,492 18,235 19,184 19,968 22,260

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1,035 1,356 1,052 967 911 1,522 1,020 506 1,294 1,664 1,796 1,487
-467 -888 -737 -722 -1,196 -1,114 -1,511 -690 -1,666 -665 -1,964 -1,033
-360 -448 -401 -314 368 -381 578 310 280 -203 -570 -442
Net Cash Flow 208 19 -86 -69 83 26 87 126 -91 796 -738 12
Free Cash Flow 326 465 408 399 -220 565 129 -459 325 164 352 374
CFO/OP 104% 118% 118% 79% 71% 164% 134% 43% 99% 85% 89% 70%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 41 75 77 85 77 68 81 75 87 74 70 85
Inventory Days 131 142 161 151 160 177 249 235 191 159 198 195
Days Payable 144 119 127 148 118 105 167 141 132 112 130 144
Cash Conversion Cycle 28 98 111 88 119 140 163 169 147 121 138 136
Working Capital Days 40 11 -8 6 15 -15 -49 -24 -39 -46 -27 14
ROCE % 21% 17% 13% 18% 20% 7% 3% 11% 8% 13% 12% 13%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Sale Tonnage (Shipment Tonnage) - Standalone
MT ・Standalone data

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Installed Capacity - Iron Casting (JS Auto Cast)
TPA
Installed Capacity - Steel Forging BFL Standalone
TPA ・Standalone data
Capacity Utilization - European Aluminum Forging
%
Capacity Utilization - US Aluminum Forging
%
R&D Expenditure (Percentage of Turnover)
% ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
45.26% 45.26% 45.26% 45.26% 45.26% 45.26% 44.07% 44.07% 44.07% 44.07% 44.07% 44.07%
15.79% 16.28% 16.60% 16.48% 17.04% 18.72% 17.87% 16.08% 14.37% 13.62% 12.40% 14.15%
28.61% 27.95% 27.74% 28.06% 27.96% 26.32% 28.35% 30.20% 31.26% 32.11% 34.08% 32.62%
0.18% 0.18% 0.18% 0.18% 0.18% 0.16% 0.15% 0.15% 0.15% 0.15% 0.15% 0.15%
10.17% 10.35% 10.22% 10.04% 9.58% 9.55% 9.55% 9.49% 10.15% 10.05% 9.29% 9.00%
No. of Shareholders 1,56,6861,69,9541,79,6831,89,1041,82,9881,99,7212,07,8102,14,7252,42,7322,49,5202,27,1602,28,156

* 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

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