Bharat Forge Q4 Results: Net Profit up 59.3% to ₹389.7 Crore from Q4FY23

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Synopsis:

Bharat Forge has come out with its financial results for Q4FY24. With the numbers, it can be seen that the company has had a profitable quarter. Bharat Fore has also recommended a final dividend of ₹6.50 per equity share

5 Key Financial Highlights

The fourth quarter of FY24 has seen many profitable developments for Bharat Forge. Here are some of the main highlights from the Bharat Forge Q4 Results:

  • Revenue from operations at ₹2328.58 Crore, up from ₹1997.28 Crore in Q4FY23 

  • Revenue for FY24 at ₹8968.63 Crore up from ₹7572.71 Crore YoY

  • PBT for Q4FY24 at ₹512.71 Crore up ₹315.35 Crore in Q4FY23

  • Net Profit for Q4FY24 at ₹389.65 Crore up from ₹244.52 Crore in Q4FY23

  • Net Profit for FY24 at ₹1424.95 Crore from ₹1045.47 Crore in YoY

ExploreBharat Forge Share Price

Key Business Updates:

  • EBITDA grew by 25.1% to ₹654 Crores with EBITDA margins of 28.1% in Q4 FY24 

  • In FY24, the Indian operations secured new orders worth ₹1350 Crores for automotive & industrial applications.

  • Bharat Forge’s defence business saw a jump of almost 4x compared to FY23 with revenues of ₹1561 Crores

  • Bharat Forge also set up an AI/Digital manufacturing center which will enable improvements in productivity and shorten the time used to market products

Additional Read: Quarterly Results

Profitability Analysis:

Bharat Forge has seen considerable growth in Q4FY24. At a standalone level, the company saw revenues of ₹2328.6 Crore in Q4FY24 up by 16.6% from Q4FY23 guided by defence export orders and Passenger vehicle exports. Bharat Forge also saw its EBITDA margin at 28.1% in Q4FY24, a 190 bps improvement YoY. The company’s PBT before Exchange gain/(loss) stood at ₹521.Crore in Q4FY24 up from ₹391 Crore in Q4FY23. Other than this, Bharat Forge’s industrial segment also saw its revenue rise 72% in FY24 credited to the supply of components & products for defence applications. The company’s export CV business too remained steady in FY24 with its revenue up by 8.5% YoY

Additional Read: Hero MotoCorp Q4 Results

Major Operational Metrics - Standalone Q4 (FY2023-24) Financial Results of Bharat Forge (in ₹ Crore)


Metrics

For Quarter Ended

For Year Ended

Q4FY24

Q3FY24

Q4FY23

FY24

FY23

Revenue From Operations

2328.58

2263.37

1997.28

8968.63

7572.71

PBT

512.71

504.40

315.35

1895.23

1382.74

Profit for the period

389.65

377.81

244.52

1424.95

1045.47

Total Comprehensive income for the period

162.44

364.99

280.83

1241.25

916.13

Major Operational Metrics - Consolidated Q4 (FY2023-24) Financial Results of Bharat Forge (in ₹ Crore)


Metrics

For Quarter Ended

For Year Ended

Q4FY24

Q3FY24

Q4FY23

FY24

FY23

Revenue From Operations

4164.20

3866.40

3629

15682

12910.25

PBT

365.81

395

176.77

1438.99

826.94

Profit for the period

227.11

254.44

127.74

910.15

508.38

Additional Read: Voltas Q4 Results

 

The Future of Bharat Forge

Having seen the kind of growth it has achieved in Q4FY24 and the entirety of FY24, Bharat Forge is optimistic about FY25. The company expects that FY25’s growth will be driven mainly by the defence business, Industrial casting business and continued and steady growth achieved through its overseas business. With more improvement in its overseas business with an additional improvement in its various other verticals, Bharat Forge is positive that FY25 will also prove to be equally profitable  .

Additional ReadDr. Reddy’s Laboratories Q4 Results

Conclusion

Founded by Nilkanthrao A. Kalyani on 19 June 1961 in Pune, Bharat Forge is an Indian multinational company that is involved in the construction and mining, energy, automotive, railways, aerospace and defence industries. Today the company has become an extremely profitable enterprise as the numbers of its Q4FY24 show. With revenues of ₹2328.6 Crore in Q4FY24 up by 16.6% from Q4FY23 and its EBITDA margin at 28.1% in Q4FY24, a 190 bps improvement YoY, the company,s Q4FY24 results have been quite interesting.

About the company:

Bharat Forge was set up on 19 June 1961, by Nilkanthrao A. Kalyani, in Pune, Maharashtra. It is a forging company that specializes in manufacturing components like front axle assembly and components, hydraulic and mechanical presses engineering equipment, steering knuckles, connecting rods and crankshafts etc. The company has now turned into a multinational company that works with automotive, energy, construction and mining, railways, marine and even aerospace and defence industries

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Frequently Asked Questions

What was the revenue that Bharat Forge has been able to make in Q4?

Answer Field

Bharat Forge saw a standalone revenue of ₹2328.6 Crore in Q4FY24 up by 16.6% from Q4FY23 and a consolidated revenue of ₹4164.2 Crore in Q4FY24 up from ₹3629 in Q4FY23

What are some of the main business updates for Bharat Forge?

Answer Field

Bharat Forge saw much improvement in its numbers when it came to Q4FY24 this time around. However, apart from that, the company also saw quite a few business updates as well. Here is a list of some of them:

EBITDA grew by 25.1% to ₹654 Crores with EBITDA margins of 28.1% in Q4 FY24 

In FY24, the Indian operations secured new orders worth ₹1350 Crores for automotive & industrial applications.

Bharat Forge’s defence business saw a jump of almost 4x compared to FY23 with revenues of ₹1561 Crores

Bharat Forge also set up an AI/Digital manufacturing center which will enable improvements in productivity and shorten the time used to market products

 

 

Was there a final dividend proposed by the company and of what value?

Answer Field

The Board of Directors of the company in a meeting held on May 8 2024 recommended a final dividend of ₹6.50 per equity share of ₹2/- each (325%).

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