Bharat Forge Q4 Review - Valuations Overshadow Positive Demand Outlook: Prabhudas Lilladher
Bharat Forge Ltd. Machining Facility (Image: Company website)

Bharat Forge Q4 Review - Valuations Overshadow Positive Demand Outlook: 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 Q4 FY21 results beat estimates on all fronts as revenue/Ebitda/adjusted PAT came higher by 10%/23%/43% over primary loss expectancy.

This was led by:

  1. 39% year-on-year growth in tonnage (due to strong traction in auto demand for both domestic/exports).

  2. 7% year-on-year growth in realisations (better mix and RM inflation price through).

  3. Cost control.

Outlook for auto segment remained strong, benefitted by visible growth in Class 8 truck demand in FY22 along with ramp-up in domestic CVs/PVs.

This coupled with healthy outlook for industrial (with improvement in global Oil & Gas), has placed Bharat Forge better than previous cycles.

Click on the attachment to read the full report:

Prabhudas Lilladher Bharat Forge Q4FY21 Result Update.pdf

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