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Informist, Monday, Aug. 10, 2026

 

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--Bharat Forge Apr-Jun net profit INR 3.21 bln 
--Bharat Forge Apr-Jun revenue INR 23.47 bln 
--Bharat Forge Apr-Jun net profit INR 3.21 bln vs INR 3.39 bln year ago 
--Bharat Forge Apr-Jun revenue INR 23.47 bln vs INR 21.05 bln year ago 
--Bharat Forge Apr-Jun consol net loss INR 897.27 mln 
--Analyst saw Bharat Forge Apr-Jun consol net profit at INR 3.65 bln 
--Bharat Forge Apr-Jun consol revenue INR 46.40 bln 
--Analyst saw Bharat Forge Apr-Jun consol revenue at INR 40.40 bln 
--Bharat Forge Q1 consol net loss INR 897.27 mln vs PAT INR 2.84 bln yr ago 
--Bharat Forge Apr-Jun consol revenue INR 46.40 bln vs INR 39.09 bln yr ago 
--Bharat Forge Q1 consol net loss includes one-time cost of INR 3.58 bln 
--Bharat Forge Q1 one-time cost largely due to German arm restructuring 
--Bharat Forge to raise up to INR 25 bln via equity, debt securities 

--Bharat Forge Apr-Jun EBITDA INR 6.14 bln vs INR 5.88 bln year ago 

--Bharat Forge Apr-Jun EBITDA margin 26.2% vs 27.9% year ago 

--Bharat Forge Q1 domestic sales INR 11.43 bln vs INR 10.29 bln yr ago 

--Bharat Forge Q1 export revenue INR 12.05 bln vs INR 10.75 bln yr ago 

--Bharat Forge Q1 export CV sales INR 4.79 bln vs INR 4.50 bln year ago 

--Bharat Forge Q1 export PV sales INR 3.35 bln vs INR 2.88 bln year ago 

--Bharat Forge Apr-Jun export industrial sales INR 3.90 bln vs INR 3.37 bln 

--Bharat Forge: Retain FY27 India mfg business growth outlook at 20-25% 

--Bharat Forge Apr-Jun India CV revenue INR 2.50 bln vs INR 2.45 bln yr ago 

--Bharat Forge Apr-Jun India PV revenue INR 1.04 bln vs INR 973 mln yr ago 

--Bharat Forge Q1 India industrial revenue INR 6.6 bln vs INR 5.7 bln yr ago 

--Bharat Forge: Apr-Jun India ops secured new orders worth INR 13.52 bln 

--Bharat Forge: Defence order book INR 111.96 bln as of Jun 30 

 

 

By Gopika Balasubramanium and Shruti Nair

 

MUMBAI – Bharat Forge Ltd.'s standalone bottom line for the June quarter declined on year as total expenses grew faster than revenues. The rise in overall costs was the highest in 11 quarters. The company had reported a standalone loss for the March quarter. On a consolidated basis, the company posted a net loss for the quarter under review due to a one-time cost incurred on the back of restructuring a subsidiary in Germany.

 

Bharat Forge's standalone net profit for the June quarter fell over 5% on year to INR 3.21 billion. This was lower than the INR 3.85 billion-INR 3.92 billion expected by three brokerages. Revenue from operations rose 11.5% on year to INR 23.47 billion. The standalone revenues were seen between INR 23.29 billion-INR 23.73 billion. Sequentially, sales grew around 4%.

 

Bharat Forge's overall costs rose over 13% on year to INR 19.20 billion. This surge was on the back of a 20% rise in other expenses to INR 6.57 billion. The company spent INR 9.57 billion to buy raw materials, up 5% on year.

 

On a standalone basis, the cost incurred towards restructuring the German arm was INR 236 million. The company's other income for the quarter fell 19% on year to INR 343 million. Including this and revenue from operations, its total income came in at INR 23.82 billion, up around 11%. The company's revenue growth was on the back of improvement in exports. "Industrial exports saw sharp growth as HHP Engines and Aerospace saw strong execution momentum," the defence equipment manufacturer said in an investor presentation.

 

Bharat Forge's earnings before interest, tax, depreciation, and amortisation rose over 4% on year to INR 6.14 billion for the June quarter. Its EBITDA margin contracted to 26.2% from 27.9% reported a year ago. The contraction was due to high energy and input costs.

 

The company's board approved raising up to INR 25 billion through equity or debt. The company also plans to incorporate a direct or indirect subsidiary in Malaysia to explore semiconductor and allied areas.

 

CONSOLIDATED

Bharat Forge reported a consolidated net loss of INR 897.27 million due to a one-time cost of INR 3.58 billion to make provision for the restructuring of German arm Bharat Forge CDP GmbH. This subsidiary is currently facing market challenges and associated cost disadvantages, the company said. The profit before the one-time cost and tax was INR 4.02 billion.

 

The company's tax outgo for the quarter was INR 1.34 billion. The company's total income for the quarter was INR 46.97 billion. Of this, core revenue from operations was INR 46.4 billion and other income INR 572.5 million. Bharat Forge's consolidated earnings before interest, tax, depreciation, and amortisation were INR 7.52 billion for the June quarter. The year-on-year figures are not comparable as they do not include the operations of K-Drive Mobility Solutions Pvt. Ltd., which was acquired by the company after the June quarter last year.

 

After the results were announced, shares of the company tanked 9.2% to a low of INR 2056.10 apiece on the National Stock Exchange. The shares ended at INR 2,093.10, down 7.6% from Friday. Prior to the earnings, the stock was largely unchanged.

 

 

SEGMENT PERFORMANCE, EXPORTS

Bharat Forge's commercial vehicle sales in India came in at INR 2.5 billion, up 2% on year. Sales of passenger vehicles rose nearly 7% to INR 1.04 billion. The industrial segment's revenues jumped 16% to INR 6.6 billion. In the June quarter, the defence company's domestic business secured new orders worth INR 13.52 billion.

 

In Apr-Jun, the company's exports grew 12% on year to over INR 12 billion. Of this, commercial vehicle exports rose 6% to INR 4.79 billion and passenger vehicle exports rose 16% to INR 3.35 billion. The growth was on the back of broad-based traction across North America and Europe, according to the investor presentation. The company's industrial exports rose 16% to INR 3.90 billion, aided by strong execution momentum in high horsepower engines and aerospace verticals, the company said.

 

The defence player expects the high horsepower engine segment to pick up in the second half of the current financial year. The aerospace segment will also see material improvement in its on-year performance as recent order wins gradually enter production, the company said.

 

As of Jun. 30, the company's defence order book was INR 111.96 billion. For the current year, the company maintained its growth outlook of 20–25% for its manufacturing business, which it expects to be more pronounced in the second half. "With the recent restructuring action on our EV (electric vehicle) business and the German Forging business, we continue to re-evaluate our current global manufacturing footprint for the other parts of the business where the medium-term focus of achieving profitability may continue to be challenging," the company said.  End

 

Edited by Shubhayan Bhattacharya

 

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