Bharat Forge Ltd.

NSE: BHARATFORG · Auto Components & Equipments

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52W Range₹1,299 – ₹2,295

Snapshot

Unlock Bharat Forge Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Bharat Forge Limited is a global manufacturer of forged and machined components serving diverse sectors including automotive, power generation, oil and gas, rail, marine, and aviation. The company provides comprehensive engineering and product development solutions alongside its core manufacturing capabilities.

Business Model

The company generates revenue through the design, manufacture, and sale of high-precision metal components and sub-systems. It operates primarily through two segments, Forgings and Others, leveraging long-term contracts with global original equipment manufacturers.

Growth Outlook

Growth is driven by the expansion into electric powertrain solutions and the diversification of its product portfolio into high-growth sectors like aviation and defence. Continued investment in engineering and product development supports long-term market penetration.

Key Risks

  • Cyclical Automotive Demand. The company's heavy reliance on the automotive sector makes it vulnerable to cyclical downturns in global vehicle production.
  • Raw Material Price Volatility. Fluctuations in the prices of steel and other raw materials can significantly impact manufacturing margins.
  • Geopolitical and Trade Risks. As an international exporter, the company faces risks related to trade barriers, tariffs, and geopolitical instability in its key markets.
  • Technological Disruption. The transition toward electric vehicles poses a risk to traditional internal combustion engine component demand, requiring successful adaptation to new powertrain technologies.

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Key Metrics

REVENUE

₹17,543 Cr

TTM · consolidated

+17.5%YoY

NET PROFIT

₹716 Cr

TTM · consolidated

-30.0%YoY

EPS

₹14.77

TTM · consolidated

-31.7%YoY

RETURN ON EQUITY

7.6%

TTM · consolidated

-3.5 ppYoY

RETURN ON CAPITAL EMPLOYED

13.7%

TTM · consolidated

-3.4 ppYoY

P/E

126.9×

Q1 FY27 · consolidated

126.9 vs 90.2x5Y avg

EV/EBITDA

32.1x

Q1 FY27 · consolidated

32.1 vs 42.6x5Y avg

EBITDA MARGIN

18.1%

TTM · consolidated

-0.9 ppYoY

NET PROFIT MARGIN

-1.9%

Q1 FY27 · consolidated

-9.2 ppYoY

DEBT TO EQUITY

0.7%

Q1 FY27 · consolidated

+0.1 ppYoY

Peers · Auto Components & Equipments

CompanyMkt CapP/E (TTM)EV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Bharat Forge Ltd.BHARATFORG
₹95,809 Cr126.9×32.1317.5%18.1%7.6%13.7%+53.7%
Bosch Ltd.BOSCHLTD
₹1.41L Cr56.7×38.9213.6%17.2%16.5%21.7%+18.7%
UNO Minda Ltd.UNOMINDA
₹70,641 Cr53.3×31.5818.8%11.1%20.6%19.0%-16.1%
Schaeffler India Ltd.SCHAEFFLER
₹63,861 Cr———19.1%19.1%25.9%-7.1%
Sona BLW Precision Forgings Ltd.SONACOMS
₹51,815 Cr71.9×40.3840.5%26.0%12.0%15.1%+94.6%
Tube Investments of India Ltd.TIINDIA
₹49,912 Cr74.6×18.5217.6%11.3%16.7%15.0%-24.1%

As of Q1 FY27

Financials