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Bharat Forge Ltd

BHARATFORG

Bharat Forge Ltd

BHARATFORG
MaterialsIron & Steel
MidcapWith a market cap of ₹73,362 cr, stock is ranked 134
Moderate RiskStock is 2.64x as volatile as Nifty
1,575.701.28% (-20.40)
1,575.701.28% (-20.40)

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MaterialsIron & Steel
MidcapWith a market cap of ₹73,362 cr, stock is ranked 134
Moderate RiskStock is 2.64x as volatile as Nifty
Scorecard

Performance

Low

Hasn't fared well - amongst the low performers

Valuation

High

Seems to be overvalued vs the market average

Growth

Low

Lagging behind the market in financials growth

Profitability

High

Showing good signs of profitability & efficiency

Entry point

Avg

The stock is overpriced but is not in the overbought zone

Red flags

Low

No red flag found

How to use scorecard? Learn more

MaterialsIron & Steel
MidcapWith a market cap of ₹73,362 cr, stock is ranked 134
Moderate RiskStock is 2.64x as volatile as Nifty

Key Metrics

No LabelNo LabelPB RatioPB RatioDividend YieldDiv. Yield
78.8410.240.16%
Sector PESector PESector PBSector PBSector Div YldSctr Div Yld
32.203.671.16%

Forecast & Ratings

Detailed Forecast 
57%
Analysts have suggested that investors can buy this stock

from 23 analysts

Price

Price Upside

Earnings

Earnings Growth

Revenue

Rev. Growth

See Detailed Forecast

Company Profile

Bharat Forge Limited is engaged in the business of steel forgings, finished machined crankshafts, and front axles assembly and components. The Company's segments include Forgings and Projects (Capital goods).

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Forecasts

Price

Revenue

Earnings

Income

Balance Sheet

Cash Flow

Income Statement

Industry refers to the sub-sector this company belongs to.

Lower than Industry Revenue Growth

A higher-than-industry revenue growth represents increased potential for the company to increase their market share

Over the last 5 years, revenue has grown at a yearly rate of 8.99%, vs industry avg of 9.83%

Increasing Market Share

Market share is the percentage of an industry's total sales going to a particular company. It gives a general idea of the size of a company v/s its competitors

Over the last 5 years, market share increased from 1.95% to 2.03%

Lower than Industry Net Income

Net income is equal to net earnings (profit) less expenses. This number is an important measure of how profitable the company is

Over the last 5 years, net income has grown at a yearly rate of -1.62%, vs industry avg of 4.75%

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Financial YearFY 2016FY 2017FY 2018FY 2019FY 2020FY 2021FY 2022FY 2023FY 2024TTM
Total Revenue6,967.316,657.718,499.7010,348.528,243.706,505.1610,833.9913,083.1215,914.8116,129.33
Raw Materialssubtract2,711.632,484.363,407.574,589.713,524.192,653.814,805.896,231.407,383.4013,371.51
Power & Fuel Costsubtract422.95405.00491.55591.89481.43396.10576.84827.88766.50
Employee Costsubtract915.26930.921,089.201,246.301,195.461,071.061,464.681,607.311,862.09
Selling & Administrative Expensessubtract303.99271.53334.50459.97381.25327.43608.07835.49733.40
Operating & Other expensessubtract1,052.721,054.011,407.711,213.671,480.621,362.331,107.291,719.892,391.06
Depreciation/Amortizationsubtract452.98452.05466.88520.79547.72612.16730.30735.59848.20860.38
Interest & Other Itemssubtract115.9699.96106.53127.22171.33107.73160.41298.62491.17500.38
Taxes & Other Itemssubtract313.38255.27433.31566.81111.87100.93298.75298.58487.86466.50
EPS14.5715.1316.3722.167.51-2.7123.2311.3420.4219.98
DPS3.753.754.505.003.502.007.007.002.508.00
Payout ratio0.260.250.270.230.470.300.620.120.40

Company Updates

Annual Report and Investor Presentation updates mentioned here are as reported by the company to the exchange
FY 2018

Annual Report Unavailable

Investor Presentation

Nov 9PDF
Aug 16PDF
FY 2019

Annual Report Unavailable

Investor Presentation

May 27PDF
Feb 14PDF
Aug 11PDF
FY 2020

Annual report

PDF

Investor Presentation

Feb 10PDF
Nov 12PDF
Oct 11PDF
Aug 17PDF
 

Peers & Comparison

Comparing 3 stocks from 
MaterialsIron & Steel

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StockPE RatioPE RatioPB RatioPB RatioDiv. YieldDividend Yield
Bharat Forge Ltd77.1310.240.16%
JSW Steel Ltd26.462.920.96%
Tata Steel Ltd-42.372.032.39%
Jindal Steel And Power Ltd17.462.320.19%

Price Comparison

Compare BHARATFORG with any stock or ETF
Compare BHARATFORG with any stock or ETF
BHARATFORG
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Shareholdings

Promoter Holdings Trend

Total Promoter Holding

Increasing promoter holding is considered good and reflects management’s positive view about the future outlook

In last 6 months, promoter holding in the company has almost stayed constant

Low Pledged Promoter Holding

Lower pledged promoter holdings is considered better

Pledged promoter holdings is insignificant

Institutional Holdings Trend

Total Retail Holding

Increasing retail holding can be considered bad as it can reflect that institutions and promoters are selling their stake which is being absorbed by retail investors.

In last 3 months, retail holding in the company has almost stayed constant

Foreign Institutional Holding

Foreign Institutional Holding is quantum of stock held by foreign large-quantities-trading entities. Increasing value indicates growing support and comfort for the stock

In last 3 months, foreign institutional holding of the company has almost stayed constant

Tickertape Separator

Shareholding Pattern

Retail and OthersForeign InstitutionsOther Domestic InstitutionsMutual FundsTotal Promoter Holding45.25%19.35%8.78%17.03%9.58%

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Shareholding History

MarJunSepDec '23MarJun16.17%15.79%16.28%16.60%16.47%17.03%

Mutual Funds Holding Trend

Mutual Fund Holding

Increasing Mutual Fund holdings are generally considered good, as it reflects that fund managers are becoming more bullish about the stock

In last 3 months, mutual fund holding of the company has almost stayed constant

Top 5 Mutual Funds holding Bharat Forge Ltd




Funds (Top 5)Market-cap heldWeight3M holding changePortfolio rank
(3M change)
Kotak Emerging Equity Fund - Growth - Direct Plan

Growth
1.7110%2.51%-0.26%10/71 (-2)
Kotak Flexicap Fund - Growth - Direct Plan

Growth
1.4315%1.98%-0.18%20/62 (-2)
Kotak Equity Opportunities Fund - Growth - Direct Plan

Growth
0.9183%2.70%-0.43%10/73 (-4)

Compare 3-month MF holding change on Screener

Insider Trades & Bulk Deals

Hmm, looks like there hasn't been any net deal activity in the last 6 months

smallcases

Looks like this stock is not in any smallcase yet.

Events

Dividend Trend

Dividend Yield

Dividend return is one of the most important things to be considered while investing for long term. It is the additional return on top of what investors earn through price appreciation

Current dividend yield is 0.15%. An investment of ₹1,000 in the stock is expected to generate dividend of ₹1.55 every year

Dividends

Corp. Actions

Announcements

Legal Orders

Upcoming Dividends

No upcoming dividends are available

Past Dividends

Cash Dividend

Ex DateEx DateJul 5, 2024

Final
Final | Div/Share: ₹6.50

Dividend/Share

6.50

Ex DateEx Date

Jul 5, 2024

Cash Dividend

Ex DateEx DateFeb 23, 2024

Interim
Interim | Div/Share: ₹2.50

Dividend/Share

2.50

Ex DateEx Date

Feb 23, 2024

Cash Dividend

Ex DateEx DateJul 7, 2023

Final
Final | Div/Share: ₹5.50

Dividend/Share

5.50

Ex DateEx Date

Jul 7, 2023

Cash Dividend

Ex DateEx DateNov 24, 2022

Interim
Interim | Div/Share: ₹1.50

Dividend/Share

1.50

Ex DateEx Date

Nov 24, 2022

Cash Dividend

Ex DateEx DateJul 14, 2022

Final
Final | Div/Share: ₹5.50

Dividend/Share

5.50

Ex DateEx Date

Jul 14, 2022

News & Opinions
Corporate
Bharat Forge announces cessation of director

Bharat Forge announced that Prataprao G Pawar (DIN: 00018985), Lalita D. Gupte (DIN: 00043559), P.H Ravikumar (DIN: 00280010) and Vimal Bhandari (DIN: 00001318) ceased to be the Independent Directors of the Company upon completion of their second term of 5 (five) consecutive years with effect from the closure of business hours on 03 September 2024. Powered by Capital Market - Live

2 weeks agoCapital Market - Live
Corporate
Board of Bharat Forge approves transfer of its stake in Refu Drive GmbH to Kalyani Powertrain

The Board of Bharat Forge at its meeting held on 08 August 2024 has approved transfer of its stake in joint venture Refu Drive GmbH, to Kalyani Powertrain, a wholly owned subsidiary of the company for consideration of '11.509 million which is the fair value as determined by independent valuer. Powered by Capital Market - Live

1 month agoCapital Market - Live
Corporate
Board of Bharat Forge approves closure of its non-operational subsidiary in Israel

The Board of Bharat Forge at its meeting held on 08 August 2024 has approved the closure of Indigenous IL, a non-operational subsidiary of the Company. IL was incorporated as a wholly-owned subsidiary of the Company in Israel in 2018 to explore investment opportunities in various technology start-up companies. IL has not commenced any business since its incorporation. Thus, no capital was contributed into IL. The closure of IL has been approved since there are no future business plans envisaged in Israel.Powered by Capital Market - Live

1 month agoCapital Market - Live
Corporate
Board of Bharat Forge approves transfer of its 39% stake in TMJ Electric Vehicles to Bharat Forge International

The Board of Bharat Forge at its meeting held on 08 August 2024 has approved the transfer of 39.43% stake held in TMJ Electric Vehicles to Bharat Forge International, a wholly-owned subsidiary. Powered by Capital Market - Live

1 month agoCapital Market - Live
Corporate
Board of Bharat Forge approves conversion of loan given to Bharat Forge America into equity

The Board of Bharat Forge at its meeting held on 08 August 2024 has approved has approved the conversion of USD 12 million loan given to Bharat Forge America Inc.(BFA) into equity. BFA is a wholly owned subsidiary of the Company based in Surgoinsville, Tennessee, USA and is the holding company for its USA entities. Powered by Capital Market - Live

1 month agoCapital Market - Live
Corporate
Board of Bharat Forge approves fund raising up to Rs 2000 cr

The Board of Bharat Forge at its meeting held on 08 August 2024 has approved raising up to Rs 2000 crore by way of issue of equity shares, debt issue, or any other securities convertible into equity shares or a combination of such securities by way of further public offer, rights issue, American Depository Receipts/Global Depository Receipts/Foreign Currency Convertible Bonds, qualified institutions placement, preferential issue or any other method. Powered by Capital Market - Live

1 month agoCapital Market - Live
Spotlight
Bharat Forge Q1 PAT slips 13% YoY, board OKs raising upto 2,000 cr

Revenue from operations grew by 9.91% year on year to Rs 2,338.10 crore in Q1 FY25, driven by 26% growth in domestic business. Domestic revenues were higher as execution of defence orders picked up. Shipment tonnage rose marginally to Rs 6750.1 crore in Q1 FY25 from Rs 6802.8 crore in Q1 FY24. Domestic revenue was higher by 23.9% YoY to Rs 1,140.7 crore and export revenue fell by 0.7% YoY to Rs 1,170.2 crore during the period under review. Profit before exceptional items and tax in Q1 FY25 was at Rs 516.45 crore, up 23.99% from Rs 416.51 crore recorded in Q1 FY24. Exceptional loss stood at Rs 145.66 crore in Q1 FY25, representing provision for impairment for investment in its wholly owned subsidiary, Kalyani Powertrain. EBITDA stood at Rs 657.6 crore in the June quarter, registering a growth of 18.9% YoY. EBITDA margin improved to 28.1 % in Q1 FY25 as compared to 26% registered in the corresponding quarter previous year. B.N. Kalyani, chairman & managing director of Bharat Forge, said, 'On a consolidated basis, revenues grew by 5.9% to Rs 4,106 crore while EBITDA grew by 22.8% to Rs 760 crore and PBT increased by 30.6% to Rs 470 crore. Our standalone revenue from operations rose by 10% YoY to Rs 2,338 crore. Steady execution of the Defence export orders and recovery in the oil & gas business sustained the operating performance. The group secured new orders worth Rs 980 crore across Defence, Ferrous & Aluminum castings and the core forging business. BFL group's defence business posted revenue of Rs 642 crore in Q1 registering a jump of 147% YoY. With order wins of Rs 775 crore, the executable order book as of 30 June stands at Rs 5,400 crore, with a mix of Artillery Guns, vehicles and consumables. JS Auto continued to witness strong momentum and during the quarter recorded revenue of Rs 159 crore and EBITDA at Rs 22 crore and PBT of Rs 10 crore, growth of 26%, 48% and 89% respectively vs Q1 FY24. As the company embarks on various productivity and cost improvement measures, we expect the operating profitability amply supported by organic sales growth to improve over the next 24 ' 36 months. The Overseas operations recorded sales of Rs 1,320 crore and EBITDA of Rs 13 crore. The weak CV demand in Europe was a spoiler in an otherwise stable quarter for the overseas operations. Looking ahead into Q2 FY25, we expect continued positive momentum in the Indian entities across Forging, castings & Defence and for the overseas operations, we reiterate our expectation that these businesses will see an improvement in operational parameters resulting in reduction of losses in FY25.' Meanwhile, the company's board has approved fund raising of upto Rs 2,000 crore by way of issue of equity shares, debt issue, or any other securities convertible into equity shares or a combination of such securities by way of further public offer, rights issue, American Depository Receipts/Global Depository Receipts/Foreign Currency Convertible Bonds, qualified institutions placement, preferential issue or any other method as may be permitted by applicable laws. Further, the board has given a green light for conversion of $12 million loan to equity in Bharat Forge America Inc. The company said that the conversion is aimed at reducing the interest burden on it and to strengthen the net worth. Lastly, the firm's board has also approved the transfer of 39.43% stake held in TMJ Electric Vehicles to Bharat Forge International, a wholly-owned subsidiary, at fair value assessed by an independent valuer. The company will intimate exchanges as and when there are any updates regarding this transfer, it added. Bharat Forge manufactures an extensive array of critical and safety components for several sectors including automobiles (across commercial & passenger vehicle), oil & gas, aerospace, locomotives, marine, energy (across renewable and non-renewable sources), construction, mining and general engineering. Shares of Bharat Forge rallied 3% to settle at Rs 1,605.15 on the BSE. Powered by Capital Market - Live

1 month agoCapital Market - Live
Earnings
Bharat Forge consolidated net profit declines 9.22% in the June 2024 quarter

Net profit of Bharat Forge declined 9.22% to Rs 202.81 crore in the quarter ended June 2024 as against Rs 223.40 crore during the previous quarter ended June 2023. Sales rose 5.90% to Rs 4106.15 crore in the quarter ended June 2024 as against Rs 3877.27 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales4106.153877.27 6 OPM %18.0515.36 - PBDT669.58547.57 22 PBT451.31341.48 32 NP202.81223.40 -9 Powered by Capital Market - Live

1 month agoCapital Market - Live

Bharat Forge shares gain over 3% ahead of board meet to raise funds

1 month agoBusiness Today

Share price of Bharat Forge jumps as Sensex gains 492.74 points

1 month agoEconomic Times