ICICI Direct: Bharat Forge Q2 - Longer Wait For Meaningful Recovery On The Cards
Trucks parked at Mahindra & Mahindra’s facility in Chakan, Maharashtra. Demand for commercial vehicles was the weakest in the April-June period, says Bharat Forge. (Photographer: Udit Kulshrestha/Bloomberg)

ICICI Direct: Bharat Forge Q2 - Longer Wait For Meaningful Recovery On The Cards

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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 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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ICICI Direct Bharat Forge Q2FY21 Result Update.pdf

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