ICICI Direct: Bharat Forge Q2 - Longer Wait For Meaningful Recovery On The Cards
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ICICI Direct Report
Bharat Forge Ltd. reported a subdued Q2 FY21 performance.
Standalone revenues came in at Rs 882 crore (down 30% YoY), tracking 23.8% YoY decline in volumes to 40,775 metric tonne.
Total India revenues were at Rs 419.2 crore (down 13.9% YoY; commercial vehicle down 2%, passenger vehicle up 6.9%, industrial down 5.8%).
On the international side, passenger vehicle revenues de-grew 25.8% while commercial vehicle revenues declined 52.2% and industrial revenues fell 33.1%.
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