Bharat Forge Ltd

Bharat Forge Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Bharat Forge Ltd

₹ 1,296 -2.05%
21 Nov - close price
bharatforge.com BSE: 500493 NSE: BHARATFORG
About

Bharat Forge is engaged in the manufacturing and selling of forged and machined Compoundant for auto and industry sector.(Source : 201903 Annual Report Page No: 123)

Key Points

Part of Kalyani Group
The company belongs to the Kalyani Group which has an annual turnover of more than USD 3 Billion. Apart from the forging Industry, the group has a presence in engineering steel, automotive, industrial, renewable energy, urban infrastructure, and specialty chemicals and maintains a leading position in various business segments. [1]

Website BSE NSE
  • Market Cap ₹ 60,377 Cr.
  • Current Price ₹ 1,296
  • High / Low ₹ 1,826 / 1,063
  • Stock P/E 60.8
  • Book Value ₹ 156
  • Dividend Yield 0.69 %
  • ROCE 12.9 %
  • ROE 12.7 %
  • Face Value ₹ 2.00
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Pros

  • Company has been maintaining a healthy dividend payout of 34.7%

Cons

  • Stock is trading at 8.29 times its book value
  • Company has a low return on equity of 11.6% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Castings, Forgings & Fastners Industry: Castings & Forgings

Part of BSE Capital Goods Nifty 500 Nifty LargeMidcap 250 Nifty200 Momentum 30 Nifty 500 Multicap 50:25:25

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
2,386 2,395 3,573 2,851 3,076 3,353 3,629 3,877 3,774 3,866 4,164 4,106 3,689
1,886 1,895 3,030 2,426 2,645 2,914 3,191 3,282 3,153 3,169 3,521 3,365 3,042
Operating Profit 499 499 543 425 432 439 438 595 621 698 643 741 647
OPM % 21% 21% 15% 15% 14% 13% 12% 15% 16% 18% 15% 18% 18%
38 201 70 30 44 37 17 67 51 58 45 -99 62
Interest 23 24 63 40 53 109 97 114 124 137 116 124 110
Depreciation 174 176 214 181 188 186 181 206 211 224 207 218 213
Profit before tax 341 500 337 235 235 181 177 341 337 395 366 300 385
Tax % 21% 16% 31% 32% 40% 56% 28% 37% 36% 36% 38% 42% 37%
270 422 232 160 142 79 128 214 215 254 227 175 243
EPS in Rs 5.82 9.05 5.06 3.53 3.13 1.77 2.91 4.80 4.88 5.68 5.07 4.36 5.23
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
5,167 6,704 7,622 6,809 6,396 8,358 10,146 8,056 6,336 10,461 12,910 15,682 15,825
4,419 5,783 6,232 5,397 5,276 6,635 8,098 6,984 5,504 8,478 11,174 13,121 13,096
Operating Profit 748 921 1,390 1,413 1,121 1,723 2,048 1,072 832 1,983 1,737 2,562 2,729
OPM % 14% 14% 18% 21% 18% 21% 20% 13% 13% 19% 13% 16% 17%
94 298 226 148 391 46 199 109 -138 288 124 217 65
Interest 167 169 136 116 100 107 127 171 108 160 299 491 486
Depreciation 320 357 362 453 452 467 521 548 612 730 736 848 862
Profit before tax 355 693 1,118 992 960 1,196 1,599 462 -25 1,381 827 1,439 1,446
Tax % 43% 30% 32% 32% 26% 37% 35% 24% 399% 22% 39% 37%
202 482 760 675 711 754 1,033 349 -127 1,077 508 910 899
EPS in Rs 5.32 10.71 16.38 14.57 15.13 16.38 22.17 7.51 -2.71 23.23 11.35 20.43 20.34
Dividend Payout % 32% 21% 23% 26% 25% 27% 23% 47% -74% 30% 62% 12%
Compounded Sales Growth
10 Years: 9%
5 Years: 9%
3 Years: 35%
TTM: 8%
Compounded Profit Growth
10 Years: 7%
5 Years: -3%
3 Years: 59%
TTM: 52%
Stock Price CAGR
10 Years: 11%
5 Years: 24%
3 Years: 20%
1 Year: 18%
Return on Equity
10 Years: 13%
5 Years: 9%
3 Years: 12%
Last Year: 13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 47 47 47 47 47 93 93 93 93 93 93 93 93
Reserves 2,210 2,637 3,398 3,367 4,070 4,557 5,282 5,125 5,321 6,476 6,611 7,076 7,184
2,784 2,561 2,546 3,375 3,124 3,257 4,029 4,469 5,271 5,972 7,313 7,948 7,740
2,554 2,290 2,245 1,504 1,600 2,069 2,174 1,795 2,403 2,951 4,217 4,068 3,976
Total Liabilities 7,595 7,534 8,236 8,292 8,841 9,977 11,578 11,482 13,088 15,492 18,235 19,184 18,993
2,910 2,534 2,629 3,134 3,277 3,500 3,625 4,002 4,750 4,870 6,161 6,309 6,100
CWIP 632 583 870 409 453 344 831 1,143 900 1,125 701 991 1,806
Investments 416 801 496 886 1,192 1,501 1,524 1,618 2,607 2,604 2,569 1,849 1,699
3,636 3,617 4,242 3,863 3,919 4,632 5,599 4,720 4,831 6,893 8,804 10,034 9,388
Total Assets 7,595 7,534 8,236 8,292 8,841 9,977 11,578 11,482 13,088 15,492 18,235 19,184 18,993

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
735 716 1,035 1,356 1,052 967 911 1,522 1,020 506 1,294 1,664
-232 -244 -467 -888 -737 -722 -1,196 -1,114 -1,511 -690 -1,666 -665
-330 -640 -360 -448 -401 -314 368 -381 578 310 280 -203
Net Cash Flow 173 -168 208 19 -86 -69 83 26 87 126 -91 796

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 56 47 41 75 77 85 77 68 81 75 87 74
Inventory Days 188 154 131 142 161 151 160 177 249 235 191 159
Days Payable 153 157 144 119 127 148 118 105 167 141 132 112
Cash Conversion Cycle 91 45 28 98 111 88 119 140 163 169 147 121
Working Capital Days 18 22 58 81 64 75 90 77 114 112 107 87
ROCE % 11% 15% 21% 17% 13% 18% 20% 7% 3% 11% 8% 13%

Shareholding Pattern

Numbers in percentages

Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
45.25% 45.25% 45.25% 45.26% 45.26% 45.26% 45.26% 45.26% 45.26% 45.26% 45.26% 45.26%
23.36% 19.80% 18.82% 19.30% 17.88% 16.17% 15.79% 16.28% 16.60% 16.48% 17.04% 18.72%
20.02% 23.55% 24.33% 24.55% 26.09% 27.70% 28.61% 27.95% 27.74% 28.06% 27.96% 26.32%
0.16% 0.16% 0.16% 0.16% 0.18% 0.18% 0.18% 0.18% 0.18% 0.18% 0.18% 0.16%
11.20% 11.23% 11.44% 10.72% 10.60% 10.70% 10.17% 10.35% 10.22% 10.04% 9.58% 9.55%
No. of Shareholders 1,51,0591,53,7181,56,4451,58,8451,55,7341,62,1051,56,6861,69,9541,79,6831,89,1041,82,9881,99,721

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Announcements

Annual reports

DRHP

Credit ratings

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