Bharat Forge - Demand Picture Improving, Most Positives Priced In: ICICI Direct 
Bharat Forge Ltd. (image Company website)

Bharat Forge - Demand Picture Improving, Most Positives Priced In: ICICI Direct 


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.

ICICI Direct Report

Bharat Forge Ltd. reported a steady Q3 FY21 performance.

Standalone revenues came in at Rs 1,036 crore (down 3.8% YoY) despite 8.4% YoY tonnage growth to 50,943 metric tonne.

Total India revenues were at Rs 516 crore (up 26.5% YoY; commercial vehicle up 49.4%, passenger vehicle up 27.5%, industrial up 16%).

Export revenues, on the other hand, were down 19.5% YoY to Rs 512 crore (commercial vehicle up 7.1%, passenger vehicle down 8.4%, industrials down 60.1%).

Standalone Ebitda for the quarter was at Rs 215 crore, with consequent margins at 20.7%.

Click on the attachment to read the full report:

ICICI Direct Bharat Forge Q3FY21 Result Update.pdf


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