Automobile and Auto Components · NIFTY 500

Bharat Forge Limited

NSEBHARATFORG BSE500493 ISININE465A01025 SeriesEQ Listed on NSE · BSE

₹1,760.00 +11.40 (+0.65%) Updated 12 Nov, 8:49 pm IST

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Price, daily close+31.33% in a year

Today

Open: ₹1,754.00
Prev close: ₹1,748.60
Day high: ₹1,794.40
Day low: ₹1,738.80
Volume: 11.38 L
Value traded: ₹201.55 Cr
Upper circuit: ₹1,807.60
Lower circuit: ₹1,702.40
52W high: ₹2,295.00
52W low: ₹1,299.10
1 month: -2.83%
6 months: -12.43%

52W low52W high

Ratios

Key numbers

Worked out from the latest filings (Consolidated) and today's price. TTM = last four quarters.

Market cap₹86,014 Cr

P/E (TTM)123.25

P/B7.48

Book value / share₹235.43

EPS (TTM)₹14.28

ROE5.9%

Dividend yield0.48%

Dividend (12m)₹8.50 / share

Net margin (TTM)3.7%

Operating margin15.3%

Debt / equity0.64

Current ratio1.29

EV / EBITDA36.76

Sales growth (YoY qtr)+20.79%

Profit growth (YoY qtr)-7.80%

Sales CAGR 3Y+9.20%

Profit CAGR 3Y+33.03%

Shares48.87 Cr

Quarterly results

Results for each quarter

Last 12 quarters, consolidated, ₹ crore. Hover a bar to see the number.

Revenue and net profit

3,866265

Dec 23

4,164236

Mar 24

4,106203

Jun 24

3,689244

Sep 24

3,476213

Dec 24

3,853282

Mar 25

3,909284

Jun 25

4,032299

Sep 25

4,343264

Dec 25

4,528233

Mar 26

4,640-89.7

Jun 26

4,870276

Sep 26

Revenue · QoQ (vs last quarter)

—+7.7%-1.4%-10%-5.8%+11%+1.5%+3.2%+7.7%+4.3%+2.5%+5.0%

Revenue · YoY (vs a year ago)

————-10%-7.5%-4.8%+9.3%+25%+18%+19%+21%

Net profit · QoQ (vs last quarter)

—-11%-14%+20%-13%+33%+0.6%+5.5%-12%-12%-139%+407%

Net profit · YoY (vs a year ago)

————-20%+20%+40%+23%+24%-18%-132%-7.8%

RevenueNet profitLine = trend

5.68

Dec 23

5.07

Mar 24

4.36

Jun 24

5.23

Sep 24

4.54

Dec 24

5.92

Mar 25

5.93

Jun 25

6.26

Sep 25

5.53

Dec 25

4.86

Mar 26

-1.88

Jun 26

5.77

Sep 26

EPS (₹) · YoY (vs a year ago)

————-20%+17%+36%+20%+22%-18%-132%-7.8%

EPS (₹)Line = trend

₹ Cr	Dec 23	Mar 24	Jun 24	Sep 24	Dec 24	Mar 25	Jun 25	Sep 25	Dec 25	Mar 26	Jun 26	Sep 26
Revenue	3,866	4,164	4,106	3,689	3,476	3,853	3,909	4,032	4,343	4,528	4,640	4,870
Other income	56.0	54.8	51.6	61.6	38.4	62.1	49.7	53.5	42.5	53.0	57.2	47.5
Total income	3,922	4,219	4,158	3,750	3,514	3,915	3,958	4,085	4,385	4,581	4,697	4,917
Raw material	1,522	2,012	1,681	1,685	1,439	1,635	1,717	1,947	1,842	2,272	2,103	2,511
Purchases	270	-112	84.8	71.5	7.6	67.9	14.5	22.0	19.3	23.0	11.3	79.8
Employee cost	450	475	499	467	436	468	514	521	535	535	594	573
Other expenses	938	1,089	1,030	1,010	945	980	1,026	1,018	1,084	1,063	1,268	1,295
Total expenses	3,529	3,844	3,707	3,364	3,165	3,483	3,544	3,627	3,919	4,089	4,283	4,469
Operating profit	698	633	589	647	624	676	673	726	694	679	351	743
OPM %	18.0%	15.2%	14.3%	17.5%	18.0%	17.5%	17.2%	18.0%	16.0%	15.0%	7.6%	15.3%
Finance cost	137	116	124	110	96.0	88.0	82.2	80.1	76.6	84.4	89.7	96.9
Depreciation	224	207	218	213	218	224	226	241	249	255	263	270
Exceptional items	—	-10.2	-152	—	—	-5.3	—	—	-55.7	-98.7	-358	-24.6
Profit before tax	393	365	299	386	349	426	414	458	411	393	55.7	424
Tax	141	139	125	142	134	141	127	158	134	159	134	139
Net profit	254	227	175	243	213	283	284	299	273	233	-89.9	279
Profit to shareholders	265	236	203	244	213	282	284	299	264	233	-89.7	276
EPS (₹)	5.68	5.07	4.36	5.23	4.54	5.92	5.93	6.26	5.53	4.86	-1.88	5.77

Profit & loss

Results for each year

8 financial years (April to March), consolidated, ₹ crore.

Sales, operating profit and net profit

8,4151,627762

FY18

8,0561,036350

FY20

6,336556196

FY21

10,4612,1081,082

FY22

12,9101,722459

FY23

15,6822,546951

FY24

15,1232,537941

FY25

16,8122,7721,080

FY26

Revenue · YoY (vs a year ago)

——-21%+65%+23%+21%-3.6%+11%

Net profit · YoY (vs a year ago)

——-44%+453%-58%+107%-1.0%+15%

RevenueOperating profitNet profitLine = trend

₹ Cr	FY18	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	8,415	8,056	6,336	10,461	12,910	15,682	15,123	16,812
Other income	142	188	169	196	173	227	214	199
Total expenses	7,265	7,660	6,194	9,336	12,177	14,463	13,720	15,179
Employee cost	1,089	1,195	1,071	1,465	1,563	1,860	1,870	2,103
Operating profit	1,627	1,036	556	2,108	1,722	2,546	2,537	2,772
OPM %	19.3%	12.9%	8.8%	20.2%	13.3%	16.2%	16.8%	16.5%
Finance cost	107	171	108	160	299	491	417	323
Depreciation	467	548	612	730	736	848	874	971
Profit before tax	1,196	505	4.5	1,414	860	1,434	1,460	1,677
Tax	442	112	102	303	319	529	543	578
Tax rate %	36.9%	22.3%	2,245.8%	21.5%	37.0%	36.9%	37.2%	34.5%
Net profit	754	349	-127	1,077	508	910	913	1,089
Profit to shareholders	762	350	196	1,082	459	951	941	1,080
Net margin %	9.1%	4.3%	3.1%	10.3%	3.6%	6.1%	6.2%	6.4%
EPS (₹)	32.76	7.51	-2.71	23.23	11.35	20.43	20.05	22.58

Balance sheet

Assets and debt

At each year end (and the latest half year), ₹ crore.

Equity, debt and assets

6,7066,852509

Mar 23

7,1707,5221,315

Mar 24

9,2216,288621

Mar 25

9,5576,875848

Mar 26

11,5067,3912,679

Sep 26

Shareholders' equity · YoY (vs a year ago)

—+6.9%+29%+3.6%—

Shareholders' equityBorrowingsCashLine = trend

₹ Cr	Mar 23	Mar 24	Mar 25	Mar 26	Sep 26
Shareholders' equity	6,706	7,170	9,221	9,557	11,506
Long-term borrowings	1,751	1,859	1,319	1,812	1,704
Short-term borrowings	5,101	5,663	4,969	5,062	5,687
Total borrowings	6,852	7,522	6,288	6,875	7,391
Current liabilities	8,277	9,280	8,703	9,581	10,582
Fixed assets (PPE)	5,272	5,468	5,847	7,258	7,401
Inventories	3,126	3,216	3,578	4,053	4,693
Trade receivables	3,087	3,167	2,900	3,910	4,075
Cash & equivalents	509	1,315	621	848	2,679
Current assets	8,522	10,016	10,232	11,203	13,651
Total assets	18,384	19,349	20,088	22,260	25,259
Debt / equity	1.02	1.05	0.68	0.72	0.64

Cash flow

Cash coming in and going out

For each financial year, ₹ crore. Free cash flow = cash from operations minus spending on fixed assets.

Operating, investing and financing cash

506-690310

FY22

1,294-1,671280

FY23

1,664-667-203

FY24

1,796-1,964-570

FY25

1,487-1,033-442

FY26

Operations · YoY (vs a year ago)

—+156%+29%+7.9%-17%

OperationsInvestingFinancingLine = trend

₹ Cr	FY22	FY23	FY24	FY25	FY26
Cash from operations	506	1,294	1,664	1,796	1,487
Cash from investing	-690	-1,671	-667	-1,964	-1,033
Cash from financing	310	280	-203	-570	-442
Spent on fixed assets	-1,068	-996	-1,524	-1,450	-1,140
Free cash flow	-562	298	140	346	346
Net cash flow	126	-96.6	795	-738	11.6

Shareholding

Who holds the shares

Promoter and public holding at each quarter end, as filed with NSE.

Holding over time

45.3%Mar 24

45.3%Jun 24

45.3%Sep 24

44.1%Dec 24

44.1%Mar 25

44.1%Jun 25

44.1%Sep 25

44.1%Dec 25

44.1%Mar 26

44.1%Jun 26

43.1%Sep 26

Promoter & groupPublic

Latest (30 Sep 2026)

43.1%promoter

Promoter & group: 43.12%
Public (FIIs, mutual funds, retail…): 56.88%
Promoter change, last quarter: 0.00 pts

Dividends & news

Latest dividends and announcements

Dividends & corporate actions

Dividend - Rs 6.50 Per ShareEx 03-Jul-2026
Interim Dividend - Rs 2 Per ShareEx 18-Feb-2026
Dividend - Rs 6 Per ShareEx 04-Jul-2025
Interim Dividend - Rs 2.5 Per ShareEx 18-Feb-2025
Dividend - Rs 6.50 Per ShareEx 05-Jul-2024
Interim Dividend - Rs 2.50 Per ShareEx 23-Feb-2024
Dividend - Rs 5.50 Per ShareEx 07-Jul-2023
Interim Dividend - Rs 1.50 Per ShareEx 24-Nov-2022

Board meetings

BHARAT FORGE LTD has informed the Exchange about Board Meeting to be held on 05-Nov-2026 to inter-alia consider and approve the Unaudited Financial r…05-Nov-2026
the financial results for the period ended September 30, 202605-Nov-2026
the Quarterly Unaudited Financial results of the Company for the period ended June 2026 and Fund raising.10-Aug-2026
the Quarterly Unaudited Financial results of the Company for the period ended June 2026 and Fund raising.10-Aug-2026
Fund Raising10-Aug-2026

Filings with NSE

Updates12 Nov
Press Release (Revised)12 Nov
Press Release12 Nov
Analysts/Institutional Investor Meet/Con. Call Updates11 Nov
Analysts/Institutional Investor Meet/Con. Call Updates11 Nov
Analysts/Institutional Investor Meet/Con. Call Updates6 Nov
Copy of Newspaper Publication6 Nov

Latest news

BHARATFORG Outlook for the WeekEquitypandit · 8 Nov, 1:30 pm Bharat Forge revises KSSL 120mm mortar system announcementscanx.trade · 12 Nov, 6:03 pm Bharat Forge shares crash 9% after ₹90 crore Q1 loss; here's what mgmt said | Markets NewsBusiness Standard · 10 Aug, 12:30 pm Bharat Forge stock falls again after yesterday’s 8% Q1 sell-off; brokerages cautious, see limited upsideMoneycontrol.com · 11 Aug, 12:30 pm Bharat Forge Q1 Loss at ₹90 Cr After German Unit HitHDFC Sky · 10 Aug, 12:30 pm Bharat Forge shares swing after Q1 loss, brokerages cautiousBusinessLine · 11 Aug, 12:30 pm Bharat Forge shares plunge 9% as Q1 earnings disappoint; margin pressure, overseas woes in focusFortune India · 10 Aug, 12:30 pm Bharat Forge Share Price Near Record High: Why the Defence Stock Is Gaining Momentum in 2026Samco · 15 Jun, 12:30 pm

About

About Bharat Forge Limited

Bharat Forge Limited is an Indian multinational company involved in forging, automotives, energy, construction, mining, railways, marine, aerospace and defence industries.

From Wikipedia (CC BY-SA 4.0).

Company details

Company name: Bharat Forge Limited
NSE symbol: BHARATFORG
BSE scrip code: 500493
ISIN: INE465A01025
Listed on: NSE, BSE
Series: EQ (normal equity)
Listed on NSE since: 4 Apr 2003
Face value: ₹2 per share
Market lot: 1 share
Shares issued: 48.87 crore
Index: NIFTY 500
Sector (NSE): Automobile and Auto Components
Industry: Metal Fabrication
Managing director / CEO: Baba Kalyani
Chair: Baba Kalyani
Headquarters: Pune, Maharashtra, India
Registered address: Mundhwa, Pune Cantonment, Pune - 411 036, Maharashtra, India
Founded: 1961
Employees: 10,623
Financial year: April to March
Results basis: Consolidated
Website: bharatforge.com

Peers

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Prices from NSE via Upstox. Financials from the company's results filed with NSE (XBRL); ratios are our own working. Profile from global-stock-logos (MIT). For information only, not a recommendation to buy or sell.

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Bharat Forge Limited

Today

Ratios

Quarterly results

Revenue and net profit

Profit & loss

Sales, operating profit and net profit

Balance sheet

Equity, debt and assets

Cash flow

Operating, investing and financing cash

Shareholding

Holding over time

Latest (30 Sep 2026)

Dividends & news

Dividends & corporate actions

Board meetings

Filings with NSE

Latest news

About

Company details

Peers