Shares of Bharat Forge declined by 2.07 percent to trade at Rs 1,137.60 on Friday. The stock featured among the top losers on the Nifty Midcap 150 index. As of 1:31 pm, the stock was trading lower compared to its previous close.
Bharat Forge is included as one of the stocks in the benchmark Nifty Midcap 150 index.
Here's a look at the key financial performance indicators for Bharat Forge:
The following table summarizes the consolidated quarterly financial results:
| Heading | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 |
|---|---|---|---|---|---|
| Revenue | Rs 4,106.15 Crore | Rs 3,688.51 Crore | Rs 3,475.55 Crore | Rs 3,852.60 Crore | Rs 3,908.75 Crore |
| Net Profit | Rs 173.89 Crore | Rs 243.88 Crore | Rs 214.32 Crore | Rs 284.90 Crore | Rs 287.14 Crore |
| EPS | 4.36 | 5.23 | 4.54 | 5.92 | 5.93 |
The revenue for the quarter ending June 2025 was Rs 3,908.75 Crore, slightly down compared to Rs 4,106.15 Crore in June 2024. The net profit for the same period increased to Rs 287.14 Crore from Rs 173.89 Crore in the previous year. Earnings per share (EPS) also increased to Rs 5.93 from Rs 4.36.
The following table summarizes the consolidated yearly financial results:
| Heading | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | Rs 6,336.26 Crore | Rs 10,461.08 Crore | Rs 12,910.26 Crore | Rs 15,682.07 Crore | Rs 15,122.80 Crore |
| Net Profit | Rs -96.99 Crore | Rs 1,110.08 Crore | Rs 541.83 Crore | Rs 904.84 Crore | Rs 916.98 Crore |
| EPS | -2.71 | 23.23 | 11.35 | 20.43 | 20.05 |
| BVPS | 116.98 | 142.32 | 144.78 | 153.88 | 193.53 |
| ROE | -2.33 | 16.46 | 7.87 | 13.26 | 10.17 |
| Debt to Equity | 0.85 | 0.86 | 1.02 | 1.05 | 0.68 |
The revenue for the year ending March 2025 was Rs 15,122.80 Crore, a decrease compared to Rs 15,682.07 Crore in March 2024. The net profit for the same period increased to Rs 916.98 Crore from Rs 904.84 Crore in the previous year. Earnings per share (EPS) decreased to Rs 20.05 from Rs 20.43. The company’s debt-to-equity ratio decreased to 0.68 in March 2025 from 1.05 in March 2024.
The following table presents a summary of the consolidated income statement:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Sales | Rs 15,122 Crore | Rs 15,682 Crore | Rs 12,910 Crore | Rs 10,461 Crore | Rs 6,336 Crore |
| Other Income | Rs 213 Crore | Rs 227 Crore | Rs 172 Crore | Rs 195 Crore | Rs 168 Crore |
| Total Income | Rs 15,336 Crore | Rs 15,909 Crore | Rs 13,083 Crore | Rs 10,656 Crore | Rs 6,505 Crore |
| Total Expenditure | Rs 13,459 Crore | Rs 13,984 Crore | Rs 11,924 Crore | Rs 9,083 Crore | Rs 6,392 Crore |
| EBIT | Rs 1,877 Crore | Rs 1,924 Crore | Rs 1,159 Crore | Rs 1,573 Crore | Rs 112 Crore |
| Interest | Rs 417 Crore | Rs 491 Crore | Rs 298 Crore | Rs 160 Crore | Rs 107 Crore |
| Tax | Rs 542 Crore | Rs 528 Crore | Rs 318 Crore | Rs 303 Crore | Rs 101 Crore |
| Net Profit | Rs 916 Crore | Rs 904 Crore | Rs 541 Crore | Rs 1,110 Crore | Rs -96 Crore |
The following table presents a summary of the cash flow statement:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Operating Activities | Rs 1,796 Crore | Rs 1,664 Crore | Rs 1,294 Crore | Rs 505 Crore | Rs 1,020 Crore |
| Investing Activities | Rs -1,964 Crore | Rs -666 Crore | Rs -1,671 Crore | Rs -690 Crore | Rs -1,511 Crore |
| Financing Activities | Rs -569 Crore | Rs -202 Crore | Rs 280 Crore | Rs 310 Crore | Rs 578 Crore |
| Others | Rs 0 Crore | Rs 1 Crore | Rs 46 Crore | Rs -14 Crore | Rs 47 Crore |
| Net Cash Flow | Rs -737 Crore | Rs 796 Crore | Rs -49 Crore | Rs 111 Crore | Rs 134 Crore |
The following table presents a summary of the balance sheet:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Share Capital | Rs 95 Crore | Rs 93 Crore | Rs 93 Crore | Rs 93 Crore | Rs 93 Crore |
| Reserves & Surplus | Rs 9,157 Crore | Rs 7,064 Crore | Rs 6,612 Crore | Rs 6,477 Crore | Rs 5,321 Crore |
| Current Liabilities | Rs 8,703 Crore | Rs 9,280 Crore | Rs 8,276 Crore | Rs 6,114 Crore | Rs 4,517 Crore |
| Other Liabilities | Rs 2,131 Crore | Rs 2,911 Crore | Rs 3,401 Crore | Rs 2,924 Crore | Rs 3,244 Crore |
| Total Liabilities | Rs 20,088 Crore | Rs 19,349 Crore | Rs 18,384 Crore | Rs 15,608 Crore | Rs 13,177 Crore |
| Fixed Assets | Rs 8,095 Crore | Rs 7,004 Crore | Rs 6,566 Crore | Rs 5,944 Crore | Rs 5,617 Crore |
| Current Assets | Rs 10,232 Crore | Rs 10,015 Crore | Rs 9,002 Crore | Rs 7,930 Crore | Rs 6,214 Crore |
| Other Assets | Rs 1,760 Crore | Rs 2,328 Crore | Rs 2,815 Crore | Rs 1,733 Crore | Rs 1,345 Crore |
| Total Assets | Rs 20,088 Crore | Rs 19,349 Crore | Rs 18,384 Crore | Rs 15,608 Crore | Rs 13,177 Crore |
| Contingent Liabilities | Rs 1,819 Crore | Rs 1,953 Crore | Rs 1,085 Crore | Rs 1,201 Crore | Rs 1,323 Crore |
The following table presents key financial ratios:
| Ratio | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Basic EPS (Rs.) | -2.71 | 23.23 | 11.35 | 20.43 | 20.05 |
| Diluted EPS (Rs.) | -2.71 | 23.23 | 11.35 | 20.43 | 20.05 |
| Book Value/Share (Rs.) | 116.98 | 142.32 | 144.78 | 153.88 | 193.53 |
| Dividend/Share (Rs.) | 2.00 | 7.00 | 7.00 | 9.00 | 8.50 |
| Face Value | 2 | 2 | 2 | 2 | 2 |
| Gross Profit Margin (%) | 16.26 | 21.14 | 15.02 | 17.76 | 19.22 |
| Operating Margin (%) | 6.60 | 14.16 | 9.33 | 12.35 | 13.45 |
| Net Profit Margin (%) | -1.53 | 10.61 | 4.19 | 5.76 | 6.06 |
| Return on Equity (%) | -2.33 | 16.46 | 7.87 | 13.26 | 10.17 |
| ROCE (%) | 4.83 | 15.60 | 11.92 | 19.23 | 17.86 |
| Return On Assets (%) | -0.95 | 6.93 | 2.87 | 4.91 | 4.68 |
| Current Ratio (X) | 1.38 | 1.30 | 1.09 | 1.08 | 1.18 |
| Quick Ratio (X) | 0.98 | 0.85 | 0.71 | 0.73 | 0.76 |
| Debt to Equity (x) | 0.85 | 0.86 | 1.02 | 1.05 | 0.68 |
| Interest Coverage (X) | 3.88 | 13.79 | 6.50 | 5.67 | 6.96 |
| Asset Turnover Ratio (%) | 48.08 | 0.48 | 0.51 | 0.83 | 0.77 |
| Inventory Turnover Ratio (X) | 3.53 | 1.82 | 1.69 | 2.25 | 4.45 |
| 3 Yr CAGR Sales (%) | -12.93 | 1.54 | 26.59 | 57.32 | 20.23 |
| 3 Yr CAGR Net Profit (%) | -64.14 | 3.12 | 17.55 | 205.44 | -9.11 |
| P/E (x) | -219.91 | 30.16 | 67.88 | 55.29 | 58.31 |
| P/B (x) | 5.13 | 4.97 | 5.35 | 7.33 | 6.03 |
| EV/EBITDA (x) | 30.95 | 17.09 | 21.49 | 20.97 | 20.89 |
| P/S (x) | 4.38 | 3.12 | 2.78 | 3.35 | 3.69 |
Bharat Forge has a history of corporate actions, including bonus issues, stock splits, and dividends. Recent announcements include:
The company has also announced dividends. The final dividend of Rs 6 per share was announced on May 8, 2025, with an effective date of July 4, 2025. Prior to that, an interim dividend of Rs 2.50 per share was announced on February 12, 2025, with an effective date of February 18, 2025.
Bharat Forge had a stock split on July 20, 2005, where the face value changed from Rs 10 to Rs 2.
With the stock currently trading at Rs 1,137.60, Bharat Forge experienced a decline of 2.07% in today's session.
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