Bharat Forge Limited

NSE
BHARATFORG
Stock
Yield per half year: +9.84%
Dividend yield: 0.7333%
Sector: Consumer Cyclical

Reporting Bharat Forge Limited

Capitalization

IFRS
Reporting Annual Quarterly
2008 2017 2018 2019 2020 2021 2022 2023 2024 2025 LTM Average for 5 years CAGR 5
Capitalization, bln ₹
52.62 305.01 213.82 196.14 326.12 342.64 433.04 574.08 574.08 374.40 23.96
Revenue, bln ₹
60.97 79.72 96.15 76.7 60.82 99.04 129.1 151.23 151.23 151.23 118.28 19.98
Net profit, bln ₹
7.05 7.62 10.32 3.5 -1.26 10.82 5.28 9.51 9.41 9.41 6.75 -249.50
EV, bln ₹
335.11 251.14 236.77 372.11 380.98 426.76 591.95 609.57 609.57 476.27 10.37
EBIT, bln ₹
8.99 13.62 15.95 5.72 2.95 15.74 10.93 18.97 18.73 18.73 13.46 44.72
EBITDA, bln ₹
13.51 18.23 21.08 11.15 8.99 22.96 18.28 27.45 27.47 27.47 21.03 25.03
OIBDA, bln ₹
14.18 10.86 25.1 23.74 35.56 36.26 36.26 26.30 27.27
Book value, bln ₹
41.16 46.52 53.76 52.2 54.15 65.71 67.06 71.7 92.53 92.53 70.23 11.31
FCF, bln ₹
3.96 3.82 -2.66 5.6 1.06 -5.62 2.98 1.4 3.46 3.46 0.6560 26.69
Operating Cash Flow, bln ₹
10.52 9.67 9.11 15.22 10.2 5.06 12.94 16.64 17.96 17.96 12.56 11.98
Operating profit, bln ₹
8.43 12.49 15.62 6.02 2.38 13.21 10.74 17.62 18.2 18.2 12.43 50.21
Operating expenses, bln ₹
18.69 21.52 23.97 23.42 21.97 29.15 42.69 47.78 67.08 67.08 41.73 25.01
CAPEX, bln ₹
6.55 5.85 11.77 9.62 9.14 10.68 9.96 15.24 14.5 14.5 11.90 9.67


Balance sheet

IFRS
Reporting Annual Quarterly
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 LTM Average for 5 years CAGR 5
Cash, bln ₹
2.88 2.35 2.86 3.13 4.47 5.58 5.09 13.15 6.21 6.21 6.90 6.80
Short-Term Investments ₹
8.67 4.5 7.26 13.07 20.96 19.46 15.76 13.86 21.27 21.27 18.26 0.29
Long-Term Investments ₹
0.2185 0.3168 1.62 3.72 11.17 9.83 5.33 98.77
Accounts Receivable ₹
19.3 24.81 26.2 18.73 18.28 21.62 31.05 31.67 29.16 29.16 26.36 9.79
Total Current Assets ₹
42.2 45.81 55.39 52.71 62.14 79.31 90.02 100.16 102.32 102.32 86.79 10.49
Net assets, bln ₹
36.21 37.83 43.92 50.82 56 58.75 64.8 69.19 80.2 80.2 65.79 7.45
Assets, bln ₹
88.41 100.16 116.42 115.63 131.78 156.09 183.84 193.49 200.88 200.88 173.22 8.80
Short-Term Debt ₹
20.65 21.31 23.51 25.01 28.29 39.01 51.46 57.1 50.16 50.16 45.20 12.14
Long-Term Debt ₹
10.43 11.13 16.68 18.75 22.17 20.71 21.67 22.38 16.82 16.82 20.75 -5.37
Liabilities, bln ₹
47.14 53.35 62.36 63.11 77.31 89.82 116.43 121.84 108.68 108.68 102.82 7.05
Net debt, bln ₹
28.36 30.22 37.43 41.57 48.23 54.13 68.05 66.32 60.77 60.77 59.50 4.73
Debt, bln ₹
31.08 32.44 40.19 43.75 50.46 59.72 73.13 79.48 66.98 66.98 65.95 5.83
Interest Income ₹
0.7645 0.4713 0.5884 0.1187 0.6803 1.08 1.6 2.89 1.27 89.36
Interest Expense, bln ₹
0.9996 1.07 1.05 1.19 0.9884 1.28 2.74 4.17 4.17 4.17 2.67 33.36
Net interest income, bln ₹
-0.7984 -0.8973 -0.8299 -1.01 -1.08 -1.6 -2.99 0.7596 2.89 -1.1841 -194.46
Goodwill ₹
0.0568 0.5372 0.5537 0.4242 0.4291 0.3489 0.3697 0.3233 0.5064 2.95 0.8997 53.26
Amortization, bln ₹
4.52 4.61 5.13 5.43 6.04 7.22 7.36 8.48 8.74 8.74 7.57 7.67
Cost of production, bln ₹
33.85 44.9 56.57 46.95 36.15 56.93 69.46 85.03 65.94 65.94 62.70 12.77
Inventory ₹
10.75 13.6 18.45 17.35 17.94 27.1 31.26 32.16 35.78 35.78 28.85 14.81


Share

IFRS
Reporting Annual Quarterly
2008 2017 2018 2019 2020 2021 2022 2023 2024 2025 LTM Average for 5 years CAGR 5
EPS 9.25 18.1 23.19 11.99 6.95 23.23 11.35 20.43 20.05 20.05 16.40 23.60
Share price 731.5 508.7 483.15 525.3 697.85 879.85 1238.35 1299.5 1223 1223 1067.71 11.87
Number of shares, mln 444.67 465.35 464.36 465.94 465.4 465.59 465.59 465.59 469.4 469.4 466.31 0.17
FCF/share -7.46 8.22 -5.72 12.02 2.27 -12.08 6.41 3.01 7.37 7.37 1.40 26.56


Efficiency

IFRS
Reporting Annual Quarterly
2008 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 LTM Industry average Average for 5 years CAGR 5
ROE, % 17.12 16.39 19.2 6.7 -2.33 18.05 7.88 13.27 10.17 10.17 13.66 9.41 -234.27
ROA, % 7.97 7.61 8.87 3.03 -0.959 7.52 2.87 4.92 4.69 4.69 6.86 3.81 -237.36
ROIC, % 15.96 10.72 12.31 13.46 6.56 0.3612 11.22 6.48 9.08 9.08 15.64 6.74 6.72
ROS, % 11.56 9.56 10.73 4.56 -2.08 10.92 4.09 6.29 6.22 6.22 8.27 5.09 -224.49
ROCE, % 21.8 29.1 29.5 10.88 5.42 16.58 16.21 26.48 20.32 20.32 21.55 17.00 30.25
EBIT margin 8.12 1.77 15.89 8.46 12.54 12.39 12.39 11.88 10.21 47.58
EBITDA margin 22.17 22.87 21.92 14.54 14.78 23.18 14.16 18.15 18.16 18.16 16.99 17.69 4.20
Net margin 11.56 9.56 10.73 4.56 -2.08 10.92 4.09 6.29 6.22 6.22 8.27 5.09 -224.49
Operational efficiency, % 13.82 15.67 16.24 7.84 3.92 13.33 8.32 11.65 12.04 12.04 20.87 9.85 25.16
FCF yield, % -6.3 1.25 -1.24 2.86 0.3243 -1.64 0.6888 0.6025 0.6025 1.38 0.5671 -26.77


Coefficients

IFRS
Reporting Annual Quarterly
2008 2017 2018 2019 2020 2021 2022 2023 2024 2025 LTM Industry average Average for 5 years CAGR 5
P/E
18.09 40 20.72 56.07 -258.05 30.21 67.89 55.26 61 61 100.75 -8.7380 -174.94
P/BV
3.18 6.56 3.98 3.76 6.02 4.93 5.32 7.34 6.2 6.2 8.14 5.96 0.59
P/S
1.15 3.83 2.22 2.56 5.36 3.3 2.78 3.48 3.8 3.8 5.12 3.74 -6.65
P/FCF
-15.87 79.76 -80.49 35.01 308.37 -60.92 145.18 282.55 165.97 165.97 161.19 168.23 -11.65
E/P
0.0553 0.025 0.0483 0.0178 -0.0039 0.0316 0.0122 0.024 0.0164 0.0164 0.05 0.0161 -233.28
EV/EBIT
23.08 298.6 24.21 39.05 31.2 32.54 32.54 28.35 85.12 -35.81
EV/EBITDA
18.38 11.91 21.24 41.39 16.6 23.34 21.56 22.19 22.19 25.61 25.02 -11.72
EV/S
4.2 2.61 3.09 6.12 3.85 3.31 3.91 4.03 4.03 4.38 4.24 -8.02
EV/FCF
87.64 -94.55 42.27 351.85 -67.73 143.07 421.71 176.24 176.24 155.80 205.03 -12.91
Debt/EBITDA
2.3 1.78 1.91 3.92 5.61 2.6 4 2.89 2.44 2.44 4.08 3.51 -15.34
Netdebt/Ebitda
2.1 1.66 1.78 3.73 5.36 2.36 3.72 2.42 2.21 2.21 3.57 3.21 -16.24
Debt/Ratio
0.3516 0.3239 0.3452 0.3784 0.3829 0.3826 0.3978 0.4107 0.3334 0.3334 0.25 0.3815 -2.73
Debt/Equity
0.755 0.6974 0.7476 0.8382 0.9318 0.9088 1.09 1.11 1.18 1.18 1.09 1.04 4.84
Debt/Net Income
4.41 4.26 3.89 12.51 -39.93 5.52 13.84 8.36 7.12 7.12 12.37 -1.0180 -170.83
PEG
18.09 18.09 68.09 18.09 0.00
Beta
1.55 3.02 2.46 2.46 0.10 2.34 16.65
Altman Index
5.91 4.46 3.79 4.34 4.45 4.48 4.12 5.15 5.15 10.74 4.51 3.48


Dividends

IFRS
Reporting Annual Quarterly
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 LTM Industry average Average for 5 years CAGR 5
Dividend payout, bln
3.22 0.6984 2.1 2.33 2.79 1.64 3.25 3.8 4.22 4.22 3.14 8.63
Dividend
5.75 5 4 2 3.5 7 8 9 6 8.5 6.70 11.38
Dividend yield, %
0.9877 0.7628 0.8687 0.4751 0.4995 1 0.4473 0.7659 0.7008 0.7333 0.53 0.6827 7.01
Dividends / profit, %
9.91 27.48 22.55 79.85 -129.9 15.18 61.56 39.96 44.85 44.85 23.61 6.33 -180.84
Dividend coverage ratio
-0.7698 3.33 1.39 2.25 2.23 2.23 136.47 1.69 -223.70


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Other

IFRS
Reporting Annual Quarterly
2020 2021 2022 2023 2024 2025 LTM CAGR 5
CAPEX/Revenue, %
12.54 15.04 10.21 7.72 10.08 9.59 9.59 -8.61
Staff, people
4 265 4 265 0.00