Bharat Forge (BFL) announced its financial results for the September quarter on November 14, revealing a consolidated net profit of ₹243 crore, reflecting a 13.5% growth compared to ₹214 crore in the same quarter last year.
The company reported a consolidated revenue of ₹3,689 crore and an EBITDA of ₹690 crore. Despite a 2.3% year-on-year decline in revenue, largely due to a slowdown in the European automotive sector, EBITDA increased by 10.8%, leading to a margin improvement of 220 basis points (bps), rising from 16.5% to 18.7%.
During the quarter, Bharat Forge secured new orders worth ₹1,207 crore across various sectors, including defence, ferrous and aluminium castings, and core forging. For the first half of FY25, total order wins amounted to ₹2,216 crore, with two-thirds from defence and the remainder from the components business.
The company’s defence division saw a significant jump in revenue, posting ₹509 crore, up 67% year-on-year. With new orders of ₹642 crore in Q2, the executable order book stood at ₹5,905 crore as of September 30, excluding any potential domestic or export orders.
JS Auto, part of Bharat Forge, continued to show strong performance, reporting a 32% revenue growth to ₹165 crore and a 60% increase in EBITDA to ₹20 crore compared to Q2 FY24. In H1 FY25, JS Auto secured orders worth ₹173 crore, benefiting from the shift in the manufacturing supply chain to India.
Overseas operations recorded ₹1,145 crore in sales and ₹16 crore in EBITDA. The economic challenges in Europe and their impact on the automotive sector have delayed recovery in international markets.
Looking ahead to the second half of FY25, Chairman and Managing Director B.N. Kalyani expects performance to remain stable, with ongoing efforts to drive revenue growth and profitability in both domestic and international subsidiaries.
Bharat Forge Limited (BFL), headquartered in Pune, is an Indian multinational and a global leader in technology-driven solutions. Renowned for its high-performance, safety-critical components, BFL serves diverse sectors such as automotive, power, oil and gas, construction and mining, rail, marine, defense, and aerospace. With 18 advanced manufacturing facilities spread across five countries, the company boasts an unparalleled repository of metallurgical expertise. BFL provides end-to-end solutions, encompassing concept development, product design, engineering, manufacturing, testing, and validation, catering to a distinguished global clientele with a commitment to innovation and excellence.
