Bharat Forge: Post a strong show inQ2, brokerages maintain mixed views
In Q2FY24, PV exports surged by 39 percent YoY, and domestic revenue grew 1.5X due to the defence business. Bharat Forge's EBITDA margin reached 27.4 percent, a 330 bps YoY increase
Bharat Forge Share Price Live blog for 07 Nov 2023
Bharat Forge stock price went up today, 07 Nov 2023, by 4.4 %. The stock closed at 1030.6 per share. The stock is currently trading at 1075.95 per share. Investors should monitor Bharat Forge stock price closely in the coming days and weeks to see how it reacts to the news.
BHARAT FORGE LTD. - 500493 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
Audio recording of Analyst/ Investor Conference Call Q2FY24 Quarterly Result Announced for Bharat Forge Ltd.
Industrial Products company Bharat Forge announced Q2FY24 results: 1. Financial Performance: - Bharat Forge reported a robust YoY growth of 20.7% to Rs 22,494 million in revenues and 29.3% in profitability for the Q2FY24. - EBITDA margins expanded by 310 bps to 27.4% due to operating leverage and cost control. - The company reduced its debt by Rs 307 crore, resulting in a net ROCE (net of cash) close to the 20% mark. - PBT before Exchange gain/ (loss) was Rs 4,730 million in Q2FY24 as against Rs 3,577 million in Q2FY23 driven by higher volumes in core business and defence business. 2. Segment-wise Performance: - Passenger Vehicles (PV) continued to drive growth with market share gains, increasing value addition, and order wins. PV exports grew 39% YoY. - Bharat Forge's defense vertical, KSSL, secured a new business worth Rs 1,100 crore, taking the executable order book to Rs 3,000 crore over the next 24 months. - Commercial Vehicles (CV) showed marginal growth in North America and stable performance in Europe. - The Industrial segment's performance remained strong, driven by the supply of components to KSSL and revival in infrastructure and capital goods sectors. 3. Domestic Business: - Commercial Vehicles (CV) segment witnessed a 12% YoY growth and outperformed the overall market due to the government's focus on infrastructure spending and positive economic activity. - Passenger Vehicles (PV) segment showed promising growth driven by premiumization and the shift toward Utility Vehicles. - The Industrial segment benefited from new products and expanded engagements with existing clients, especially in the mining and construction vertical. 4. Export Business: - CV exports grew steadily in North America and Europe, supported by market share gains and the addition of new geographies. - PV exports registered strong growth due to improved market share and increased geographical reach. - Industrial segment focused on building relationships in diverse sectors like construction and mining, railways, agri equipment, and aerospace. 5. Geographic Performance: - In export revenue, the Americas, Europe, and Asia contributed significantly in Q2FY24. - European CV sales remained stable, while the market in North America continued steady growth. - Performance in overseas operations improved with increased capacity utilization in the aluminum business and product optimization in the steel business. “During the quarter, the company registered a strong performance across segments & geographies, with robust YoY growth of 20.7% in revenues and 29.3% in profitability. EBITDA margins at 27.4% expanded by 310 bps driven by operating leverage and a sharp focus on cost control. The strong financial performance and debt reduction of Rs 307 crore resulted in ROCE (net of cash) inching closer to the 20% mark. Passenger Vehicles have been a standout sector for the company over the past few quarters and it continues to rise driven by market share gains, increasing value addition and order wins from newer geographies & customers. Today this sector accounts for almost 25% of our exports and will continue to be a key contributor to the growth of the group. In H1FY24, the standalone business secured new orders worth Rs 740 crore across various segments including Rs 300 crore for E-Mobility programs. The defense business continues to move from strength to strength in terms of execution and order wins. During the quarter, the company’s defence vertical, KSSL secured new business worth Rs 1,100 crore taking the executable order book to Rs 3,000 Cores, over the coming 24 months. Excluding the impact of the seasonally weak quarter in the European market, the overseas operations performance has shown improvement consistent with the increase in capacity utilization of the Aluminum business. A sustained path to profitability for the overseas business is going to be driven by a combination of achieving profitability in the aluminum business and product/manufacturing optimization in the steel business, all expected to materialize in the next 12 – 18 months. Barring any untoward global disturbances which may impact demand sentiment, we expect the momentum in our businesses to continue in H2 FY24 performance along with strong cash flow generation.” said, B.N. Kalyani, Chairman & Managing Director. Result PDF BHARAT FORGE LTD. - 500493 - Announcement under Regulation 30 (LODR)-Updates on Acquisition
Acquisition of 26% stake in Ratnakar Energy Private Limited by J S Auto Cast Foundry India Private Limited BHARAT FORGE LTD. - 500493 - Termination Of The GDR Program And Subsequent Delisting From The Luxembourg Stock Exchange
Termination of the GDR Program and subsequent delisting from the Luxembourg Stock Exchange BHARAT FORGE LTD. - 500493 - Earning Updates For Q2 Of FY 2023-24
Earning Updates for Q2 of FY 2023-24 BHARAT FORGE LTD. - 500493 - Financial Results For The Quarter And Half Year Ended September 30, 2023
Unaudited Standalone and Consolidated Financial results for the quarter and half year ended September 30, 2023 BHARAT FORGE LTD. - 500493 - Board Meeting Outcome for Board Meeting Held On November 06, 2023
Outcome Of Board Meeting Held On November 06, 2023 Bharat Forge Share Price Live blog for 03 Nov 2023
Bharat Forge stock price went up today, 03 Nov 2023, by 0.7 %. The stock closed at 1032.25 per share. The stock is currently trading at 1039.45 per share. Investors should monitor Bharat Forge stock price closely in the coming days and weeks to see how it reacts to the news.