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Bharat Forge Ltd
(BHARATFORG)
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Rating:63Neutral
Price Target:
₹2,013.00
▼(-6.45% Downside)
Action:Reiterated
Date:08/10/26
The score is driven primarily by constructive fundamentals (growth and improving leverage) but capped by weak/volatile cash conversion. Technicals add support with a clear uptrend, while the very high P/E and low dividend yield weigh materially on the overall score.
Positive Factors
Strong Revenue Expansion
Strong multi-year revenue expansion indicates growing business scale and customer demand across automotive and industrial applications. A return to solid growth in 2026 supports continued operating leverage, broader market participation, and a durable base for future earnings development.
Negative Factors
Weak and Volatile Cash Conversion
Thin and volatile free cash flow means reported earnings are not consistently converting into funds available for debt reduction, reinvestment, or shareholder returns. This increases sensitivity to working-capital movements and capital-spending cycles, potentially limiting financial flexibility during weaker demand.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong Revenue Expansion
Strong multi-year revenue expansion indicates growing business scale and customer demand across automotive and industrial applications. A return to solid growth in 2026 supports continued operating leverage, broader market participation, and a durable base for future earnings development.
Read all positive factors
Bharat Forge Ltd (BHARATFORG) vs. iShares MSCI India ETF (INDA)
Market Cap
₹937.05B
Dividend Yield0.42%
Average Volume (3M)79.57K
Price to Earnings (P/E)136.0
Beta (1Y)1.51
Revenue Growth17.54%
EPS Growth-31.63%
CountryIN
Employees3,778
SectorGeneral
Sector StrengthN/A
IndustryManufacturing - Metal Fabrication
Share Statistics
EPS (TTM)14.77
Shares Outstanding478,088,620
10 Day Avg. Volume37,573
30 Day Avg. Volume79,572
Financial Highlights & Ratios
PEG Ratio6.07
Price to Book (P/B)8.36
Price to Sales (P/S)4.76
P/FCF Ratio231.28
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹1,870.00Price Target Upside-13.10% Downside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)34.22
Revenue Forecast (FY)₹198.69B
Bharat Forge Ltd Business Overview & Revenue Model
Company Description
Bharat Forge Limited is a global engineering and manufacturing company that provides high-performance, safety-critical components and advanced solutions for the automotive, aerospace, defense, energy, rail, marine, oil and gas, construction, and m...
How the Company Makes Money
Bharat Forge makes money primarily by manufacturing and selling forged and machined components to customers, with revenue recognized from supplying parts under customer purchase orders and longer-term supply arrangements. Its core revenue stream i...
Bharat Forge Ltd Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
67
Positive
Cash Flow
54
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 175.43B | 168.12B | 151.23B | 156.82B | 129.10B | 104.61B |
| Gross Profit | 87.24B | 92.22B | 83.08B | 80.36B | 67.48B | 60.63B |
| EBITDA | 29.52B | 29.61B | 26.46B | 25.00B | 17.29B | 19.01B |
| Net Income | 7.06B | 10.80B | 9.41B | 9.51B | 5.28B | 10.82B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 222.60B | 200.88B | 193.49B | 183.84B | 156.09B |
| Cash, Cash Equivalents and Short-Term Investments | 23.85B | 21.64B | 26.56B | 27.02B | 20.84B | 25.04B |
| Total Debt | 0.00 | 73.09B | 66.98B | 79.48B | 73.13B | 59.72B |
| Total Liabilities | -95.57B | 127.03B | 108.68B | 121.84B | 116.43B | 89.82B |
| Stockholders Equity | 95.57B | 95.80B | 92.53B | 71.70B | 67.06B | 65.71B |
Cash Flow | ||||||
| Free Cash Flow | 4.34B | 3.46B | 3.46B | 1.40B | 2.98B | -5.62B |
| Operating Cash Flow | 9.99B | 14.87B | 17.96B | 16.64B | 12.94B | 5.06B |
| Investing Cash Flow | -716.75M | -10.33B | -19.64B | -6.67B | -16.71B | -6.90B |
| Financing Cash Flow | -8.62B | -4.42B | -5.70B | -2.03B | 2.80B | 3.10B |
Bharat Forge Ltd Technical Analysis
Positive
2151.85
Price Trends
2077.84
Negative
2033.49
Negative
1826.42
Positive
Market Momentum
-34.06
Negative
50.94
Neutral
77.75
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:BHARATFORG, the sentiment is Positive. The current price of 2151.85 is above the 20-day moving average (MA) of 1984.73, above the 50-day MA of 2077.84, and above the 200-day MA of 1826.42, indicating a neutral trend. The MACD of -34.06 indicates Negative momentum. The RSI at 50.94 is Neutral, neither overbought nor oversold. The STOCH value of 77.75 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:BHARATFORG.
Bharat Forge Ltd Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
83 Outperform | ₹496.81B | 72.23 | ― | 0.42% | 39.56% | 17.82% | |
70 Outperform | ₹387.81B | 39.13 | ― | 0.43% | 29.35% | 12.93% | |
70 Outperform | ₹253.72B | 40.95 | ― | 0.67% | 10.19% | 12.02% | |
68 Neutral | ₹644.46B | 50.57 | ― | 0.86% | 19.66% | 23.81% | |
63 Neutral | ₹937.05B | 136.02 | ― | 0.42% | 17.54% | -31.63% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹3.45B | 27.29 | ― | 0.44% | -2.76% | 32.15% |
* General Sector Average
IN:BHARATFORG
Bharat Forge Ltd
2,009.95
765.25
61.48%
IN:ENDURANCE
Endurance Technologies Ltd.
2,694.00
-147.95
-5.21%
IN:KALYANIFRG
Kalyani Forge Limited
918.70
241.54
35.67%
IN:SCHAEFFLER
Schaeffler India Ltd
4,057.00
-21.50
-0.53%
IN:SONACOMS
Sona BLW Precision Forgings Ltd.
807.00
388.28
92.73%
IN:SUNDRMFAST
Sundram Fasteners Limited
1,189.45
169.24
16.59%
Bharat Forge Ltd Corporate Events
Bharat Forge Secures Shareholder Nod for ₹25,000 Million Securities Issue
Sep 11, 2026
Bharat Forge Ltd has reported that its shareholders have approved, via a postal ballot conducted through remote e-voting, a special resolution authorizing the issuance of securities up to ₹25,000 million.The approval provides the company wit...
Bharat Forge Plans Investor Meetings in Singapore Under SEBI-Compliant Framework
Sep 3, 2026
Bharat Forge Limited, headquartered in Pune, operates in the engineering and manufacturing sector with a core focus on forging technologies and supplies critical components to automotive and industrial customers. It is publicly listed on Indian st...
Bharat Forge Shares Q1 FY27 Investor Presentation with Exchanges
Aug 10, 2026
Bharat Forge Limited has submitted an investor presentation detailing its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, corresponding to Q1 FY27. The disclosure to both the BSE and NSE underscores the...
Bharat Forge Releases Q1 FY27 Investor Presentation on Unaudited Results
Aug 10, 2026
Bharat Forge Limited has submitted an investor presentation detailing its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, corresponding to Q1 FY27. The presentation, shared with the BSE and NSE, is inte...
Bharat Forge Confirms Timely Demat Compliance for June Quarter
Jul 6, 2026
Bharat Forge has notified the stock exchanges that, in line with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, all dematerialisation requests received during the quarter ended June 30, 2026 were processed within t...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.