iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Bharat Forge gains after Q1 PAT rises 46% YoY

11 Aug 2022 , 02:59 PM

EBITDA improved by 17.6% to Rs 460 crore in Q1 FY23 from Rs 391 crore in Q1 FY22. EBITDA in Q1 FY23 was 26.1% in Q1 FY23 as against 28.5% in Q1 FY22. Profit before tax in Q1 FY23 stood at Rs 353.2 crore, up by 25.3% from Rs 281.8 crore in Q1 FY22. B.N. Kalyani, chairman & MD of the company said, The companys performance in Q1 FY23 was steady with revenue and EBITDA witnessing growth on a sequential basis. Topline grew by 5.1% QoQ to Rs 17,594 million while EBITDA grew by 6.8% QoQto Rs 4,600 million. Export revenues at Rs 10,475 million and PV export revenues at Rs 1,942 million are at an all time high. We have completed the acquisition of JS Autocast Pvt Limited, at an Enterprise Value of Rs 489.63 Crores. This acquisition significantly enhances our capabilities to address segments in Industrial and energy sector in both domestic and exports markets and also opens up new products, we hitherto were not making. During the quarter, the Indian operations secured new business worth approximately Rs 350 Crores across automotive & industrial application. At a consolidated level, the European operations have delivered a stable performance as per plan, in-spite of high input prices and weak market conditions. The new Greenfield Aluminium Forging facility in North America is still in a ramp-up phase and operating at low utilization levels which has adversely impacted the overall quarterly profitability. We expect this business to turnaround in second half of the fiscal. Looking ahead in to Q2 FY23, we expect stable performance across both the domestic and export markets despite uncertainty arising from the macro economic headwinds caused by monetary tightening. Bharat Forge manufactures an extensive array of critical and safety components for several sectors including automobiles (across commercial & passenger vehicle), oil & gas, aerospace, locomotives, marine, energy (across renewable and non-renewable sources), construction, mining and general engineering. Powered by Capital Market – Live News

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.