Bharat Forge

₹1397.2 -15 | 1.1%

WEBSITE BSE:500493 NSE : BHARAT FORGE 10 May, 16:01

Market Cap ₹65050 Cr.

Stock P/E 68.4

P/B 9.1

Current Price ₹1397.2

Book Value ₹ 154

Face Value 2

52W High ₹1463.3

Dividend Yield 0.64%

52W Low ₹ 753.1

Edit Ratio

Bharat Forge Research see more...

Overview Inc. Year: 1961Industry: Forgings

Bharat Forge Ltd is an India-primarily based enterprise, that's engaged in production and selling of forged and machined additives which includes aluminium castings for automobile and business sectors. Its segments consist of Forgings and Others. It is likewise in the production and assembly of electric vehicle associated components. It offers complete-service supply functionality, which incorporates from concept to product layout, engineering, manufacturing, testing, and validation. It manufactures essential components for thermal, wind, hydro, and nuclear packages. It offers automotive products, which includes engines, chassis and transmission and drive line. It also manufactures a lot of railway additives, along with engine components, turbochargers, bogie additives, and power electronics. It elements additives to the aviation sector, together with fan blades, compressors and turbines, aero systems, and tools components. It caters to domestic and international markets.

Bharat Forge Share Price

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Peer Comparison

Bharat Forge Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Net Sales	2395	3573	2851	3076	3353	3629	3877	3774	3866	4164
Other Income	34	83	33	46	37	58	64	52	56	55
Total Income	2429	3656	2884	3122	3390	3687	3941	3827	3922	4219
Total Expenditure	1893	3019	2424	2644	2884	3191	3282	3153	3169	3521
Operating Profit	536	637	460	478	506	496	660	674	754	698
Interest	24	63	40	53	109	97	114	124	137	116
Depreciation	176	214	181	188	186	181	206	211	224	207
Exceptional Income / Expenses	167	-13	-3	-2	-0	-41	0	-2	0	-10
Profit Before Tax	502	347	237	235	211	177	339	336	393	365
Provision for Tax	78	105	74	93	102	49	128	122	141	139
Profit After Tax	424	243	163	142	109	128	211	214	253	227
Adjustments	-3	-7	2	4	-26	7	12	13	12	9
Profit After Adjustments	421	236	164	146	83	135	223	227	265	236
Adjusted Earnings Per Share	9	5.1	3.5	3.1	1.8	2.9	4.8	4.9	5.7	5.1

Bharat Forge Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	5167	6716	7622	6809	6396	8358	10146	8056	6336	10461	12910	15681
Other Income	112	125	137	132	119	142	230	188	169	244	238	227
Total Income	5279	6841	7759	6941	6515	8500	10376	8244	6505	10705	13149	15909
Total Expenditure	4375	5686	6181	5401	5145	6641	8125	6946	5475	8493	11208	13125
Operating Profit	904	1155	1577	1540	1370	1859	2251	1298	1031	2212	1940	2786
Interest	167	169	136	116	100	107	127	171	108	160	299	491
Depreciation	320	357	362	453	452	461	513	543	612	730	736	848
Exceptional Income / Expenses	37	104	43	-5	128	-95	0	-79	-306	92	-46	-12
Profit Before Tax	453	732	1122	966	947	1196	1599	462	-25	1381	827	1433
Provision for Tax	153	210	359	316	249	442	566	112	102	303	319	530
Profit After Tax	301	522	764	649	698	754	1033	349	-127	1077	508	905
Adjustments	-53	-24	-1	29	7	8	-0	1	1	5	20	46
Profit After Adjustments	248	499	763	678	705	762	1032	350	-126	1082	528	951
Adjusted Earnings Per Share	5.3	10.7	16.4	14.6	15.1	16.4	22.2	7.5	-2.7	23.2	11.3	20.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	23%	17%	9%	10%
Operating Profit CAGR	-12%	14%	1%	8%
PAT CAGR	-53%	13%	-8%	5%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	80%	29%	25%	20%
ROE Average	8%	8%	10%	15%
ROCE Average	9%	8%	10%	14%

Bharat Forge Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	2256	2683	3444	3413	4116	4652	5376	5220	5415	6571	6706
Minority's Interest	164	17	-2	-4	10	29	30	32	32	56	36
Borrowings	1827	1521	1982	1638	1059	1126	1679	1875	2217	1787	1751
Other Non-Current Liabilities	280	298	343	376	449	416	385	389	906	964	1465
Total Current Liabilities	3067	3015	2467	2869	3206	3754	4109	3967	4518	6114	8277
Total Liabilities	7595	7535	8234	8292	8841	9977	11578	11482	13088	15492	18235
Fixed Assets	2910	2534	2629	3134	3277	3499	3624	4002	4750	4870	6161
Other Non-Current Assets	922	874	1172	904	1344	1896	2415	2210	2124	2691	3072
Total Current Assets	3709	4126	4433	4254	4218	4581	5539	5271	6214	7931	9002
Total Assets	7595	7535	8234	8292	8841	9977	11578	11482	13088	15492	18235

Bharat Forge Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	234	407	240	339	358	272	203	286	313	447	558
Cash Flow from Operating Activities	735	716	1035	1356	1052	967	911	1522	1020	506	1294
Cash Flow from Investing Activities	-211	-187	-467	-927	-684	-814	-1175	-1132	-1511	-690	-1671
Cash Flow from Financing Activities	-330	-640	-360	-448	-401	-314	368	-381	578	310	280
Net Cash Inflow / Outflow	194	-111	208	-19	-33	-161	104	8	87	126	-97
Closing Cash & Cash Equivalent	429	296	447	358	325	203	286	313	447	558	509

Bharat Forge Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	5.32	10.71	16.38	14.57	15.13	16.38	22.17	7.51	-2.71	23.23	11.35
CEPS(Rs)	13.32	18.89	24.18	23.68	24.69	26.09	33.2	19.17	10.42	38.82	26.72
DPS(Rs)	3.4	4.5	7.5	7.5	7.5	4.5	5	3.5	2	7	7
Book NAV/Share(Rs)	48.46	57.63	73.97	73.31	88.41	99.91	115.47	112.11	116.31	141.09	143.94
Core EBITDA Margin(%)	14.86	15	18.5	20.11	18.96	20.4	19.92	13.78	13.6	18.67	13.15
EBIT Margin(%)	11.65	13.13	16.15	15.45	15.86	15.48	17.01	7.86	1.3	14.62	8.7
Pre Tax Margin(%)	8.51	10.66	14.41	13.79	14.35	14.21	15.76	5.73	-0.4	13.1	6.39
PAT Margin (%)	5.64	7.61	9.81	9.27	10.57	8.96	10.18	4.34	-2	10.22	3.93
Cash Profit Margin (%)	11.64	12.81	14.46	15.74	17.42	14.44	15.24	11.08	7.66	17.15	9.61
ROA(%)	4.03	6.9	9.68	7.86	8.14	8.01	9.58	3.03	-1.03	7.54	3.01
ROE(%)	13.54	21.14	24.92	18.94	18.53	17.2	20.59	6.59	-2.39	17.97	7.66
ROCE(%)	12.42	17.53	22.39	16.93	14.92	17.19	19.94	6.67	0.82	13.61	8.75
Receivable days	55.17	44.19	40.3	58.78	75.86	71.1	73.48	82.5	83.63	61.85	74.01
Inventory Days	76.34	57.69	48.57	52.93	57.31	52.81	57.64	81.09	101.63	78	82.29
Payable days	146.9	116.27	116.97	136.06	126.14	120.87	116.63	122.33	155.04	122.86	115.8
PER(x)	19.26	19.69	38.96	29.95	34.39	42.75	23.08	31.16	0	30.21	67.86
Price/Book(x)	2.11	3.66	8.63	5.95	5.89	7.01	4.43	2.09	5.13	4.97	5.35
Dividend Yield(%)	1.66	1.07	0.59	0.86	0.72	0.64	0.98	1.5	0.34	1	0.91
EV/Net Sales(x)	1.35	1.78	4.14	3.41	4.22	4.25	2.7	1.82	5.09	3.61	3.22
EV/Core EBITDA(x)	7.74	10.35	20.01	15.09	19.72	19.13	12.16	11.3	31.32	17.06	21.45
Net Sales Growth(%)	-17.72	29.99	13.5	-10.67	-6.07	30.67	21.39	-20.6	-21.35	65.1	23.41
EBIT Growth(%)	-21.02	45.24	39.54	-14	-3.24	24.42	32.51	-63.57	-87	1772.89	-26.95
PAT Growth(%)	-28.48	73.75	46.21	-14.96	7.43	8.08	36.89	-66.55	-136.35	948.31	-52.8
EPS Growth(%)	-40.06	101.36	52.96	-11.03	3.86	8.21	35.38	-66.11	-136.13	955.96	-51.16
Debt/Equity(x)	1.23	0.95	0.74	0.99	0.76	0.7	0.75	0.83	0.92	0.86	1.01
Current Ratio(x)	1.21	1.37	1.8	1.48	1.32	1.22	1.35	1.33	1.38	1.3	1.09
Quick Ratio(x)	0.84	1.02	1.38	1.14	0.98	0.86	0.9	0.89	0.98	0.85	0.71
Interest Cover(x)	3.71	5.33	9.28	9.33	10.47	12.22	13.57	3.69	0.76	9.61	3.77
Total Debt/Mcap(x)	0.58	0.26	0.09	0.17	0.13	0.1	0.17	0.4	0.18	0.17	0.19

Bharat Forge Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	44.76	45.25	45.25	45.25	45.25	45.25	45.25	45.25	45.25	45.25
FII	23.36	19.8	18.82	19.3	17.88	16.17	15.79	16.28	16.6	16.47
DII	20.19	23.72	24.48	24.72	26.28	27.89	28.8	28.12	27.94	28.24
Public	11.69	11.23	11.44	10.72	10.59	10.69	10.16	10.34	10.21	10.03
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	20.84	21.07	21.07	21.07	21.07	21.07	21.07	21.07	21.07	21.07
FII	10.88	9.22	8.76	8.99	8.32	7.53	7.35	7.58	7.73	7.67
DII	9.4	11.04	11.4	11.51	12.24	12.99	13.41	13.09	13.01	13.15
Public	5.44	5.23	5.33	4.99	4.93	4.98	4.73	4.81	4.75	4.67
Others	0	0	0	0	0	0	0	0	0	0
Total	46.56	46.56	46.56	46.56	46.56	46.56	46.56	46.56	46.56	46.56

Pros

Debtor days have improved from 122.86 to 115.8days.
Company has reduced debt.

Cons

Promoter holding is low: 45.25%.
Company has a low return on equity of 8% over the last 3 years.
Stock is trading at 9.1 times its book value.
The company has delivered a poor profit growth of -7% over past five 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.

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Bharat Forge

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Bharat Forge Research see more...

Overview Inc. Year: 1961Industry: Forgings

Bharat Forge Share Price

Alert Data

Quarterly Price

Peer Comparison

Bharat Forge Quarterly Results

Bharat Forge Profit & Loss

Growth Rates

Bharat Forge Balance Sheet

Bharat Forge Cash Flow

Bharat Forge Ratios

Bharat Forge Shareholding Pattern

Bharat Forge News

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