Bharat Forge Q3 Review - Auto Shines While Non-Auto Export Struggles: Prabhudas Lilladher
Bharat Forge Ltd.’s machining facility (Image: Company website)

Bharat Forge Q3 Review - Auto Shines While Non-Auto Export Struggles: Prabhudas Lilladher

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.

Prabhudas Lilladher Report

Bharat Forge Ltd.’s Q3 FY21 performance was weak as realisations declined to three- year low by approximately 11% YoY to Rs 2.03 lakh/tonne (our estimate Rs 2.33 lakh/tonne).

This was led by weak sales in oil and gas segment (sales at $3 million versus normalized rate of $25-30 million) and higher passenger vehicle share.

Tonnage growth of 8% was led by strong traction in auto demand in both India and exports.

While pickup is visible in class 8 trucks for Europe/U.S. along with ramp-up in PVs/tractors, outlook for industrial remains weak with no major improvement in global oil and gas, aerospace segments.

Click on the attachment to read the full report:

Prabhudas Lilladher Bharat Forge Q3FY21 Result Update.pdf

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