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Economic Times
13-05-2025
- Business
- Economic Times
I-Sec maintains Add on Bharat Forge, reduces target price to Rs 1,225
ICICI Securities maintains Add call on Bharat Forge with a revised target price of Rs 1,225 (Rs 1,250 earlier). The current market price of Bharat Forge is Rs 1191.2. Bharat Forge, incorporated in 1961, is a Large Cap company with a market cap of Rs 57346.73 crore, operating in the Auto Ancillaries sector. ADVERTISEMENT Bharat Forge's key products/revenue segments include Steel Forgings, Scrap, Export Incentives, Dies & Tools, Job Work, Wind Mills and Other Services for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 3914.71 crore, up 11.41% from last quarter Total Income of Rs 3513.91 crore and down -7.21% from last year same quarter Total Income of Rs 4219.04 crore. The company has reported net profit after tax of Rs 284.90 crore in the latest quarter. The company?s top management includes Mr.B N Kalyani, Mr.K B S Anand, R Bhandari, Mr.P H Ravikumar, D Gupte, G Pawar, Singh, B Mane, G Sivaraman, Mr.S E Tandale, Mr.B P Kalyani, B Kalyani, Mr.G K Agarwal, Bharat Ram. The company has BSR & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 48 crore shares outstanding. ADVERTISEMENT Investment RationaleBharat Forge's consolidated performance was broadly in line with I-Sec estimates led by ramp-up in overseas subs. Standalone performance was below our estimate amid weak CV exports and lumpiness in defence business. Notwithstanding near-term concerns around slowdown in US CV volumes, the brokerage believes BHFC's medium-to-longer-term growth prospects remain healthy led by further expansion in newer verticals (defence, aerospace and casting). The company is looking to increase the addressable market size by expanding into newer segment (e.g. electronics). US-tariff can potentially present new business opportunities (given its US mfg. presence). We lower FY26E/27E revenue estimates by 1?3% but raise margins by 10?30bps on better profitability for overseas subs. ICICI Securities Retains ADD; target price is revised to Rs 1,225 (vs. Rs 1,250) based on 30x FY27E EPS. Promoter/FII Holdings Promoters held 44.07 per cent stake in the company as of 31-Mar-2025, while FIIs owned 16.08 per cent, DIIs 30.19 per cent. (You can now subscribe to our ETMarkets WhatsApp channel) Disclaimer: Views and recommendations given in this section are the analysts' own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.
Time of India
13-05-2025
- Business
- Time of India
I-Sec maintains Add on Bharat Forge, reduces target price to Rs 1,225
ICICI Securities maintains Add call on Bharat Forge with a revised target price of Rs 1,225 (Rs 1,250 earlier). The current market price of Bharat Forge is Rs 1191.2. Bharat Forge, incorporated in 1961, is a Large Cap company with a market cap of Rs 57346.73 crore, operating in the Auto Ancillaries sector. Bharat Forge's key products/revenue segments include Steel Forgings, Scrap, Export Incentives, Dies & Tools, Job Work, Wind Mills and Other Services for the year ending 31-Mar-2024. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The promising future of CCUS Siemens Energy Learn More Undo Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 3914.71 crore, up 11.41% from last quarter Total Income of Rs 3513.91 crore and down -7.21% from last year same quarter Total Income of Rs 4219.04 crore. The company has reported net profit after tax of Rs 284.90 crore in the latest quarter. The company?s top management includes Mr.B N Kalyani, Mr.K B S Anand, R Bhandari, Mr.P H Ravikumar, D Gupte, G Pawar, Singh, B Mane, G Sivaraman, Mr.S E Tandale, Mr.B P Kalyani, B Kalyani, Mr.G K Agarwal, Bharat Ram. The company has BSR & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 48 crore shares outstanding. Live Events Investment Rationale Bharat Forge's consolidated performance was broadly in line with I-Sec estimates led by ramp-up in overseas subs. Standalone performance was below our estimate amid weak CV exports and lumpiness in defence business. Notwithstanding near-term concerns around slowdown in US CV volumes, the brokerage believes BHFC's medium-to-longer-term growth prospects remain healthy led by further expansion in newer verticals (defence, aerospace and casting). The company is looking to increase the addressable market size by expanding into newer segment (e.g. electronics). US-tariff can potentially present new business opportunities (given its US mfg. presence). We lower FY26E/27E revenue estimates by 1?3% but raise margins by 10?30bps on better profitability for overseas subs. ICICI Securities Retains ADD; target price is revised to Rs 1,225 (vs. Rs 1,250) based on 30x FY27E EPS. Promoter/FII Holdings Promoters held 44.07 per cent stake in the company as of 31-Mar-2025, while FIIs owned 16.08 per cent, DIIs 30.19 per cent.
