Shares of Bharat Forge declined by 2.09% to Rs 1,130.00 in Friday's session, with the stock facing selling pressure. The stock is part of the Nifty Midcap 150 index. At 12:34 pm, the stock was trading lower compared to its previous close.
Financial Performance:
The following table presents the consolidated quarterly financial performance of Bharat Forge:
| 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 following table presents the consolidated yearly financial performance of Bharat Forge:
| 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 following table shows the consolidated yearly income statement:
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Sales | 15,122 | 15,682 | 12,910 | 10,461 | 6,336 |
| Other Income | 213 | 227 | 172 | 195 | 168 |
| Total Income | 15,336 | 15,909 | 13,083 | 10,656 | 6,505 |
| Total Expenditure | 13,459 | 13,984 | 11,924 | 9,083 | 6,392 |
| EBIT | 1,877 | 1,924 | 1,159 | 1,573 | 112 |
| Interest | 417 | 491 | 298 | 160 | 107 |
| Tax | 542 | 528 | 318 | 303 | 101 |
| Net Profit | 916 | 904 | 541 | 1,110 | -96 |
| Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | |
|---|---|---|---|---|---|
| Sales | 3,908 | 3,852 | 3,475 | 3,688 | 4,106 |
| Other Income | 49 | 62 | 38 | 61 | 51 |
| Total Income | 3,958 | 3,914 | 3,513 | 3,750 | 4,157 |
| Total Expenditure | 3,461 | 3,400 | 3,069 | 3,254 | 3,735 |
| EBIT | 496 | 514 | 444 | 495 | 422 |
| Interest | 82 | 88 | 95 | 109 | 123 |
| Tax | 127 | 141 | 134 | 141 | 124 |
| Net Profit | 287 | 284 | 214 | 243 | 173 |
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Operating Activities | 1,796 | 1,664 | 1,294 | 505 | 1,020 |
| Investing Activities | -1,964 | -666 | -1,671 | -690 | -1,511 |
| Financing Activities | -569 | -202 | 280 | 310 | 578 |
| Others | 0 | 1 | 46 | -14 | 47 |
| Net Cash Flow | -737 | 796 | -49 | 111 | 134 |
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Share Capital | 95 | 93 | 93 | 93 | 93 |
| Reserves & Surplus | 9,157 | 7,064 | 6,612 | 6,477 | 5,321 |
| Current Liabilities | 8,703 | 9,280 | 8,276 | 6,114 | 4,517 |
| Other Liabilities | 2,131 | 2,911 | 3,401 | 2,924 | 3,244 |
| Total Liabilities | 20,088 | 19,349 | 18,384 | 15,608 | 13,177 |
| Fixed Assets | 8,095 | 7,004 | 6,566 | 5,944 | 5,617 |
| Current Assets | 10,232 | 10,015 | 9,002 | 7,930 | 6,214 |
| Other Assets | 1,760 | 2,328 | 2,815 | 1,733 | 1,345 |
| Total Assets | 20,088 | 19,349 | 18,384 | 15,608 | 13,177 |
| Contingent Liabilities | 1,819 | 1,953 | 1,085 | 1,201 | 1,323 |
| Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | |
|---|---|---|---|---|---|
| Basic EPS (Rs.) | 20.05 | 20.43 | 11.35 | 23.23 | -2.71 |
| Diluted Eps (Rs.) | 20.05 | 20.43 | 11.35 | 23.23 | -2.71 |
| Book Value [Excl. Reval Reserve]/Share (Rs.) | 193.53 | 153.88 | 144.78 | 142.32 | 116.98 |
| Dividend/Share (Rs.) | 8.50 | 9.00 | 7.00 | 7.00 | 2.00 |
| Face Value | 2 | 2 | 2 | 2 | 2 |
| Gross Profit Margin (%) | 19.22 | 17.76 | 15.02 | 21.14 | 16.26 |
| Operating Margin (%) | 13.45 | 12.35 | 9.33 | 14.16 | 6.60 |
| Net Profit Margin (%) | 6.06 | 5.76 | 4.19 | 10.61 | -1.53 |
| Return on Networth / Equity (%) | 10.17 | 13.26 | 7.87 | 16.46 | -2.33 |
| ROCE (%) | 17.86 | 19.23 | 11.92 | 15.60 | 4.83 |
| Return On Assets (%) | 4.68 | 4.91 | 2.87 | 6.93 | -0.95 |
| Current Ratio (X) | 1.18 | 1.08 | 1.09 | 1.30 | 1.38 |
| Quick Ratio (X) | 0.76 | 0.73 | 0.71 | 0.85 | 0.98 |
| Debt to Equity (x) | 0.68 | 1.05 | 1.02 | 0.86 | 0.85 |
| Interest Coverage Ratios (X) | 6.96 | 5.67 | 6.50 | 13.79 | 3.88 |
| Asset Turnover Ratio (%) | 0.77 | 0.83 | 0.51 | 0.48 | 48.08 |
| Inventory Turnover Ratio (X) | 4.45 | 2.25 | 1.69 | 1.82 | 3.53 |
| 3 Yr CAGR Sales (%) | 20.23 | 57.32 | 26.59 | 1.54 | -12.93 |
| 3 Yr CAGR Net Profit (%) | -9.11 | 205.44 | 17.55 | 3.12 | -64.14 |
| P/E (x) | 58.31 | 55.29 | 67.88 | 30.16 | -219.91 |
| P/B (x) | 6.03 | 7.33 | 5.35 | 4.97 | 5.13 |
| EV/EBITDA (x) | 20.89 | 20.97 | 21.49 | 17.09 | 30.95 |
| P/S (x) | 3.69 | 3.35 | 2.78 | 3.12 | 4.38 |
Bharat Forge announced a final dividend of Rs 6 per share (300%) with an effective date of July 4, 2025. Additionally, an interim dividend of Rs 2.50 per share (125%) was announced, effective from February 18, 2025.
The company has also announced investor meets, with intimations made on August 11 and August 18, 2025. Furthermore, the earnings call transcript was announced on August 11, 2025.
The stock has a history of bonus issues, including a 1:1 bonus in August 2017. The company also had a stock split on July 20, 2005, where the face value changed from Rs 10 to Rs 2.
According to Moneycontrol analysis on August 20, 2025, the sentiment for Bharat Forge is very bearish.
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