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: 21,187 Cr.
  • Current Price: 455.05
  • 52 weeks High / Low 533.90 / 207.50
  • Book Value: 112.08
  • Stock P/E: 229.27
  • Dividend Yield: 0.77 %
  • ROCE: 7.05 %
  • ROE: 7.05 %
  • Sales Growth (3Yrs): 7.99 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 2.00
Edit ratios
Pros:
Company has been maintaining a healthy dividend payout of 32.21%
Cons:
Stock is trading at 4.06 times its book value
Company has low interest coverage ratio.
The company has delivered a poor growth of 1.11% over past five years.
Company might be capitalizing the interest cost

Peer comparison Sector: Castings, Forgings & Fastners // Industry: Castings & Forgings

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Quarterly Results Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
2,414 2,597 2,464 2,671 2,328 2,155 1,831 1,742 1,154
1,931 2,081 2,006 2,083 1,923 1,829 1,617 1,615 1,170
Operating Profit 482 516 458 588 405 327 214 127 -16
OPM % 20% 20% 19% 22% 17% 15% 12% 7% -1%
Other Income 40 40 53 69 45 52 10 2 45
Interest 32 37 21 37 46 37 43 46 37
Depreciation 126 136 132 127 138 134 130 146 139
Profit before tax 365 383 358 493 266 209 50 -63 -146
Tax % 35% 34% 39% 34% 35% 2% 19% -9% 13%
Net Profit 240 254 218 320 173 207 42 -72 -126
EPS in Rs 5.14 5.46 4.69 6.88 3.72 4.44 0.90 -1.55 -2.70
Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
4,711 3,286 5,087 6,279 5,167 6,704 7,622 6,809 6,396 8,358 10,146 8,056 6,882
4,324 3,012 4,307 5,283 4,419 5,714 6,185 5,399 5,146 6,644 8,102 7,023 6,231
Operating Profit 387 273 780 996 748 990 1,437 1,410 1,250 1,714 2,044 1,033 651
OPM % 8% 8% 15% 16% 14% 15% 19% 21% 20% 21% 20% 13% 9%
Other Income 104 37 65 92 94 228 179 151 262 55 203 147 109
Interest 129 130 153 186 167 169 136 116 100 107 127 171 163
Depreciation 252 245 255 302 320 357 362 453 452 467 521 548 548
Profit before tax 110 -65 437 600 355 693 1,118 992 960 1,196 1,599 462 49
Tax % 63% -18% 32% 30% 43% 30% 32% 32% 26% 37% 35% 24%
Net Profit 58 -63 290 413 248 499 763 678 705 762 1,032 350 51
EPS in Rs 1.23 0.00 5.94 8.54 5.03 10.32 15.61 13.85 14.87 16.37 22.17 7.51 1.09
Dividend Payout % 38% -35% 28% 23% 32% 21% 23% 26% 25% 27% 23% 47%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:9.38%
5 Years:1.11%
3 Years:7.99%
TTM:-31.59%
Compounded Profit Growth
10 Years:23.52%
5 Years:-12.49%
3 Years:-15.42%
TTM:-90.43%
Stock Price CAGR
10 Years:9.80%
5 Years:0.16%
3 Years:-9.51%
1 Year:0.60%
Return on Equity
10 Years:16.82%
5 Years:15.98%
3 Years:14.98%
Last Year:7.05%

Balance Sheet Consolidated Figures in Rs. Crores / View Standalone

Corp Actions
Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
45 45 47 47 47 47 47 47 47 93 93 93
Reserves 1,599 1,418 1,906 2,137 2,210 2,637 3,398 3,367 4,070 4,557 5,282 5,125
Borrowings 2,191 2,253 1,901 2,761 2,784 2,561 2,546 3,375 3,124 3,257 4,029 4,469
1,488 1,582 1,820 2,390 2,554 2,290 2,245 1,504 1,600 2,069 2,174 1,795
Total Liabilities 5,322 5,297 5,675 7,334 7,595 7,534 8,236 8,292 8,841 9,977 11,578 11,482
2,468 2,408 2,463 2,653 2,910 2,534 2,629 3,134 3,277 3,500 3,625 4,002
CWIP 322 199 201 517 632 583 870 409 453 344 831 1,143
Investments 0 274 261 445 416 801 496 886 1,192 1,501 1,524 1,618
2,532 2,417 2,750 3,720 3,636 3,617 4,242 3,863 3,919 4,632 5,599 4,720
Total Assets 5,322 5,297 5,675 7,334 7,595 7,534 8,236 8,292 8,841 9,977 11,578 11,482

Cash Flows Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
261 542 341 686 735 716 1,035 1,356 1,052 967 911 1,522
-210 -416 -400 -1,034 -232 -244 -467 -888 -737 -722 -1,196 -1,114
118 -17 -142 462 -330 -640 -360 -448 -401 -314 368 -381
Net Cash Flow 170 109 -201 115 173 -168 208 19 -86 -69 83 26

Ratios Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 7% 4% 16% 18% 12% 15% 21% 17% 13% 18% 20% 7%
Debtor Days 41 56 54 47 56 47 41 75 77 85 77 68
Inventory Turnover 3.46 2.56 3.86 3.59 2.37 2.67 3.24 2.95 2.74 3.10 3.00 2.27

Shareholding pattern in percentages

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
45.75 45.75 45.75 45.75 45.76 45.76 45.76 45.76 45.76 45.76 45.76 45.76
20.58 20.83 21.36 20.17 20.19 19.36 19.36 19.00 19.18 20.49 20.71 22.13
12.51 13.23 12.70 12.93 12.19 12.38 12.84 13.39 13.90 15.23 15.71 15.08
0.10 0.10 0.09 0.11 0.14 0.14 0.14 0.14 0.14 0.15 0.18 0.18
21.06 20.09 20.10 21.05 21.72 22.37 21.90 21.71 21.02 18.36 17.64 16.85