Bharat Forge - Adverse Mix, Operating Deleverage Hurts Q3 Margin: Motilal Oswal
Bharat forge Machining Facility (Image: Company Website)

Bharat Forge - Adverse Mix, Operating Deleverage Hurts Q3 Margin: Motilal Oswal

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

Bharat Forge Ltd.’s Q3 FY21 performance was severely impacted by a further drop in the oil and gas business despite a good recovery in commercial vehicles and passenger vehicles.

With enhanced capabilities, improved efficiency, low gearing, and a strengthened position in the global supply chain, the company is well prepared for an impending cyclical recovery.

We lower our consolidated earning per share estimate for FY21E/FY22E by 15%/4% as we factor in a weaker mix.

Click on the attachment to read the full report:

Motilal Oswal Bharat Forge Q3FY21 Result Update.pdf

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