Bharat Forge net profit surges 59.3%, revenue gains 16% in Q4

In a Q3 earnings report, analysts at Geojit said that they expect the margin to remain resilient due to growth in the defence and auto sectors and stable performance across domestic and export markets.

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

live

• bselive
• nselive

Volume

Todays L/H

More

×

Auto and defence component manufacturer Bharat Forge reported a 59.3 percent on-year rise in net profit for Q4FY24 to Rs 389.6 crore as against Rs 244.5 crore a year back.

Total revenue of Bharat Forge for the reporting period jumped 16.6 percent to Rs 2,328.5 crore from Rs 1,997.3 crore last year.

Also read:  Bharat Forge stock slips ahead of Q4 results; Baba Kalyani rejects nephew, niece's claim seeking HUF partition

EBITDA (earnings before interest, taxes, depreciation and amortisation) for Q4FY24 is Rs 659 crore against Rs 522.8 crore  in the previous fiscal. Margin for the reporting period also grew to 28.3 percent against 24.4 percent in Q4FY23.

The company has also reported a one-time loss of Rs 13.3 crore against a loss of Rs 41 crore in the previous fiscal.

In a post earnings release, the company noted that deliveries of export orders in defence and ramp-up of overseas Aluminium business drove top-line growth. EBITDA improvement driven by reduction of losses in Europe.

On the automative business they noted that they will continue to
aim for growth which is in-line with the market. The market is
likely to see more activity as the election process concludes and
Capex spend accelerates.

Over the last one year, stocks of Bharat Forge gained over 57 percent. As of 1: 30 pm on May 8, the stock was trading at Rs 1,319.45 , around 6 percent higher than its opening price.

"Amid the global disturbance and moderation in truck demand, revenue visibility appears strong for Bharat Forge due to the diversified business mix," a recent Geojit report said.

Pune-based Bharat Forge  provides components and solutions to various sectors, including automotive, railways, defence, construction and mining, aerospace, marine and oil and gas.

(This is a developing story)
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.