Bharat Forge
Market cap ₹83,621 Cr
- P/E
- 115.86
- Day range
- ₹1,680.40 – ₹1,740.90
- 52-week range
- ₹1,284.00 – ₹2,295.00
- Volume
- 9.16 L
- Open
- ₹1,738.00
- Prev close
- ₹1,741.00
Latest results · Q1 FY27(consolidated)Revenue ₹4,640 Cr+18.7%Profit ₹-90 Cr-131.7%Margin -1.9%YoY vs the same quarter last year
No red flags in exchange filings: no rising pledge, promoter selling, surveillance or critical filing on record.
BHARATFORG in NSE indices and F&O
F&O margin for one lot of BHARATFORG (500 shares)Research profile
Composite 43 / 100Factor percentiles
Derived metrics
- Earn. yield
- 0.9%
- Graham no.
- ₹302.41
- vs Graham
- -82.3%
- ROE ÷ P/B
- 1.3%
- 12-1 mom.
- +64.3%
- Return / vol
- 1.36
- Magic Formula
- #554
- Piotroski
- 3/6
- FCF yield
- 0.4%
Appears in 10 scans
Percentiles rank this stock against the other tracked stocks and change as they do. Scans describe where figures sit today. Hover a label for its definition. Not investment advice.
Peer comparison
All 50 in Auto| Company | M-cap | P/E | P/B | ROE | ROCE | OPM | D/E | Sales YoY |
|---|---|---|---|---|---|---|---|---|
| Maruti SuzukiMARUTI | ₹3.53 L Cr | 24.63 | 3.30 | 14.4% | 19.0% | 8.0% | 0.00 | +35.9% |
| Mahindra & MahindraM&M | ₹3.44 L Cr | 17.42 | 3.82 | 21.9% | 15.0% | 19.0% | 1.47 | +27.8% |
| Bajaj AutoBAJAJ-AUTO | ₹2.77 L Cr | 23.95 | 7.31 | 28.6% | 28.0% | 21.0% | 0.58 | +65.1% |
| Eicher MotorsEICHERMOT | ₹1.94 L Cr | 33.62 | 7.74 | 23.8% | 31.0% | 24.0% | 0.02 | +31.5% |
| TVS MotorTVSMOTOR | ₹1.89 L Cr | 55.17 | 19.80 | 35.3% | 17.0% | 14.0% | 3.43 | +33.5% |
| Motherson SumiMOTHERSON | ₹1.61 L Cr | 37.17 | 3.92 | 10.8% | 13.0% | 9.0% | 0.47 | +16.7% |
| Hyundai Motor IndiaHYUNDAI | ₹1.50 L Cr | 30.36 | 7.71 | 29.9% | 38.0% | 9.0% | 0.05 | -0.5% |
| Bharat ForgeBHARATFORG | ₹83,621 Cr | 115.86 | 8.71 | 11.6% | 13.0% | 15.0% | 0.76 | +18.7% |
| Sector median | ₹24,286 Cr | 30.36 | 5.70 | 16.7% | 18.0% | 13.0% | 0.24 | +22.0% |
Sector as classified in the tracked universe; medians use every tracked Auto company, and P/E only profitable ones. Tinted figures beat the median.
Latest news
Updated 7d agoHeadlines about Bharat Forge from the last two weeks in the financial press. Stories belong to their publishers; Parasram India does not endorse them.
Key metrics
- P/E (TTM)
- 82.8
- EPS (TTM)
- ₹14.77
- Price / Book
- 8.56
- ROE (FY26)
- 11.6%
- ROCE (latest year)
- 13%
- Dividend yield
- 0.50%
Moving averages (NSE)
- 20-day
- ₹1,853.88
- Price below
- 50-day
- ₹1,949.46
- Price below
- 200-day
- ₹1,877.2
- Price below
Charts & trends
From company filings. Amounts in ₹ crore.
Revenue, profit & margin - quarterly
₹ crore; a loss shows red. Operating margin below, same periods.
- Revenue
- Net profit
Operating margin
Who owns the company
% of equity by quarter, latest Sept 2026
- Promoter
- DII
- FII
- Public
- Government
Cash flows
Where cash came from and went, by fiscal year (₹ crore)
- Operating
- Investing
- Financing
- Free cash flow
Return on equity
Net profit over shareholders' equity, by fiscal year
Equity vs debt
Shareholders' equity against borrowings (₹ crore); the ratio below, same years.
- Equity
- Debt
Debt to equity
Dividends per share
₹ by fiscal year of the ex-date; the latest year runs to date. Not adjusted for the bonus of 28 Sept 2017: earlier bars are per pre-bonus share.
Financial statements
| Line item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,774 | 3,866 | 4,164 | 4,106 | 3,689 | 3,476 | 3,853 | 3,909 | 4,032 | 4,343 | 4,528 | 4,640 |
| Expenses | 3,153 | 3,169 | 3,521 | 3,365 | 3,042 | 2,853 | 3,174 | 3,239 | 3,308 | 3,597 | 3,751 | 3,942 |
| Operating Profit | 621 | 698 | 643 | 741 | 647 | 623 | 679 | 670 | 724 | 746 | 777 | 698 |
| OPM % | 16% | 18% | 15% | 18% | 18% | 18% | 18% | 17% | 18% | 17% | 17% | 15% |
| Other Income | 51 | 58 | 45 | -99 | 62 | 38 | 57 | 50 | 54 | -13 | -46 | -301 |
| Interest | 124 | 137 | 116 | 124 | 110 | 96 | 88 | 82 | 80 | 77 | 84 | 90 |
| Depreciation | 211 | 224 | 207 | 218 | 213 | 218 | 224 | 226 | 241 | 249 | 255 | 263 |
| Profit before tax | 337 | 395 | 366 | 300 | 385 | 347 | 424 | 411 | 457 | 407 | 392 | 44 |
| Tax % | 36% | 36% | 38% | 42% | 37% | 39% | 33% | 31% | 34% | 33% | 40% | 302% |
| Net Profit | 215 | 254 | 227 | 175 | 243 | 213 | 283 | 284 | 299 | 273 | 233 | -90 |
| EPS in Rs | ₹4.88 | ₹5.68 | ₹5.07 | ₹4.36 | ₹5.23 | ₹4.45 | ₹5.90 | ₹5.93 | ₹6.26 | ₹5.53 | ₹4.86 | ₹-1.88 |
From company filings, updated 26 Oct 2026. Consolidated figures where the company reports them. Information only, not investment advice.
Working-capital cycle
+4 days since Mar 2021
-54 days since Mar 2021
-23 days since Mar 2021
-27 days since Mar 2021
+37 days since Mar 2021
Strengths, risks & growth
Bharat Forge is engaged in the manufacturing and selling of forged and machined components for the auto and industrial sectors. [1]
Strengths
- Company has delivered good profit growth of 38.6% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 41.6%
Risks
- Stock is trading at 8.54 times its book value
- Promoter holding has decreased over last quarter: -0.95%
- Company has a low return on equity of 12.2% over last 3 years.
- Company might be capitalizing the interest cost
Compounded Sales Growth
- 10 Years
- +9%
- 5 Years
- +22%
- 3 Years
- +9%
- TTM
- +18%
Compounded Profit Growth
- 10 Years
- +5%
- 5 Years
- +39%
- 3 Years
- +33%
- TTM
- -2%
Stock Price CAGR
- 10 Years
- +14%
- 5 Years
- +17%
- 3 Years
- +19%
- 1 Year
- +33%
Return on Equity
- 10 Years
- +12%
- 5 Years
- +12%
- 3 Years
- +12%
- Last Year
- +12%
Strengths and risks are a machine-generated checklist, not advice; growth is compounded annually over each period.
Shareholding pattern
| Holder | Dec 2025 | Mar 2026 | Jun 2026 | Sept 2026 | Change |
|---|---|---|---|---|---|
| Promoter | 44.07% | 44.07% | 44.07% | 43.12% | -0.95 pp |
| FII | 12.40% | 14.15% | 15.04% | 15.20% | +0.16 pp |
| DII | 34.08% | 32.62% | 32.18% | 33.04% | +0.86 pp |
| Government | 0.15% | 0.15% | 0.15% | 0.00% | -0.15 pp |
| Public | 9.29% | 9.00% | 8.54% | 8.63% | +0.09 pp |
Filed with NSE for Sept 2026: promoters 43.12%, public 56.88% · XBRL filing
Analysts & fund holdings
Who holds the shares, quarter by quarter
Mutual funds 21.71% (+0.97 pp)- Promoters43.1%
- Foreign institutions15.2%
- Mutual funds21.7%
- Insurance7.2%
- Other domestic institutions4.0%
- Retail6.6%
- Others2.2%
| Fund | % of company | % of fund | 3-month change |
|---|---|---|---|
| HDFC Defence Fund | 1.65% | 12.91% | -1.65 pp |
| Kotak Flexi Cap Fund | 1.42% | 2.39% | -0.14 pp |
| HDFC Mid Cap Fund | 1.38% | 1.22% | -0.15 pp |
| Nippon India Growth Mid Cap Fund | 1.09% | 1.96% | -0.42 pp |
| SBI Large & Midcap Fund | 0.95% | 2.02% | -0.45 pp |
Scorecard
- Performance
- Avg
- Valuation
- High
- Growth
- Low
- Profitability
- High
- Entry point
- Good
- Red flags
- Low
Analyst coverage, holdings and scorecard from market data; not a recommendation by Parasram India.
Risk & trend
From 275 daily sessions to 23 Oct 2026.
Risk
- Volatility (1Y)
- 29.3%
- Downside volatility
- 28.1%
- Worst 5% of days
- 2.6%
- Average of that tail
- 3.9%
- Max drawdown (1Y)
- 24.5%
- Below its peak
- 24.5%
Against the market
- Beta vs Nifty 50
- 1.20
- Correlation
- 0.55
- Relative strength (3M)
- -16.0%
- ATR (14)
- 3.0%
Return
- Return 1M
- -14.8%
- Return 3M
- -21.3%
- Return 6M
- -10.1%
- Return 1Y
- +39.9%
- vs 200-day average
- -8.8%
Momentum
- RSI (14) · oversold
- 27.9
- MACD histogram
- -8.23
- Stochastic %K
- 15.4
- ADX (14)
- 34.2
- +DI / −DI
- 9.4 / 37.1
- Money flow index
- 34.0
Participation
- Delivery (20d avg)
- 55.1%
- vs its 60-day baseline
- +1.1 pts
- Volume vs 20-day
- +0.3σ
- Close vs day's VWAP
- +0.7%
- 52-week position
- 49 / 100
These describe what this stock's price has already done. They are not forecasts, signals or recommendations, and a dash means the figure was withheld for want of enough history rather than being zero.
Financial quality
From consolidated statements to 31 Mar 2026.
Piotroski F-Score
3 of 6 tested
- Return on assets positive — passed
- Operating cash flow positive — not testableno cash flow statement for this period
- Return on assets improving — failed
- Cash flow exceeds profit — not testableneeds cash flow and profit against assets
- Debt to assets falling — passed
- Current ratio improving — failed
- No new equity issued — not testableno share count is collected, and financing cash flow mixes equity with debt
- Operating margin improving — failed
- Asset turnover improving — passed
- Free cash flow
- ₹346 Cr
- FCF yield
- 0.4%
- Cash conversion
- 1.36
- Accruals ratio
- -0.018
- Net debt
- ₹6,461 Cr
- Net debt / equity
- 0.67
- EV / sales
- 5.13
- Capex intensity
- 6.8%
- Revenue CAGR
- 17.5%
- Profit CAGR
- -17.4%
Computed from filed statements, not filed themselves. A dash means an input was absent, and the score counts only the criteria that could actually be tested.
Corporate actions
- dividend₹6.50
Dividend - Rs 6.50 Per Share
3 Jul 2026ex-date - dividend₹2.00
Interim Dividend - Rs 2 Per Share
18 Feb 2026ex-date - dividend₹6.00
Dividend - Rs 6 Per Share
4 Jul 2025ex-date - dividend₹2.50
Interim Dividend - Rs 2.5 Per Share
18 Feb 2025ex-date - dividend₹6.50
Dividend - Rs 6.50 Per Share
5 Jul 2024ex-date - dividend₹2.50
Interim Dividend - Rs 2.50 Per Share
23 Feb 2024ex-date - dividend₹5.50
Dividend - Rs 5.50 Per Share
7 Jul 2023ex-date - dividend₹1.50
Interim Dividend - Rs 1.50 Per Share
24 Nov 2022ex-date - dividend₹5.50
Dividend - Rs 5.50 Per Share
14 Jul 2022ex-date - dividend₹1.50
Interim Dividend - Rs 1.50 Per Share
25 Nov 2021ex-date - dividend₹2.00
Dividend - Rs 2 Per Share
15 Jul 2021ex-date - dividend₹2.00
Interim Dividend - Rs 2 Per Share
3 Mar 2020ex-date - dividend₹1.50
Interim Dividend - Rs 1.50 Per Share
20 Nov 2019ex-date - dividend₹2.50
Annual General Meeting/Dividend Rs 2.50 Per Share
1 Aug 2019ex-date - dividend₹2.50
Interim Dividend Rs - Rs 2.50 Per Share
15 Nov 2018ex-date - dividend₹2.50
Annual General Meeting/Dividend- Rs 2.50 Per Share
27 Jul 2018ex-date - dividend₹2.00
Interim Dividend Rs 2/- Per Share
16 Nov 2017ex-date - bonusNot available — not reported in this filing
Bonus 1:1
28 Sept 2017ex-date - dividend₹5.00
Dividend - Rs 5/- Per Share
28 Jul 2017ex-date - dividend₹2.50
Interim Dividend Rs 2.50 Per Share
16 Feb 2017ex-date
Company announcements
Update on investment in wholly owned subsidiary
Certificate under Reg. 74(5) of SEBI (DP) Regulations, 2018
Intimation regarding update on litigation
Intimation regarding Press Release
Proceeding of Postal Ballot
Intimation regarding Credit Rating by ICRA
Qualified Institutional Placement - Allotment
Qualified Institutional Placement - Closure of Issue
Intimation for Qualified Institutional Placement
Intimation regarding Press Release
Intimation regarding scrutinizers report on Postal Ballot
Intimation regarding merger of step-down subsidiary with subsidiary of the Company
Newspaper Advertisement
Press Release
Filed with BSE (scrip 500493); the last 45 days. Documents open at bseindia.com.
SEBI filings & orders
From SEBI's website. An order may concern the company, its officers or trading in its shares, and may be under appeal - read the order itself. Personal identifiers are withheld.
Buybacks, open offers & rights issues
- Rights issue - Public Announcement Dispatch Letter of Offer
Bharat Forge Ltd - Public Announcement Dispatch Letter of Offer
6 Aug 2004Read on SEBI - Rights issue - PDF
Bharat Forge Limited - PDF
4 Aug 2004Read on SEBI
Regulatory orders
- Settlement order
Settlement Order in respect of Bharat Forge Limited
24 Nov 2022Read on SEBI - Order
Exemption order under regulation 11 of SEBI (SAST) Regulations, 2011 in the matter of Bharat Forge Ltd and 6 other companies
2 Sept 2020Read on SEBI
Documents
Annual reports
Earnings calls
- Aug 2026TranscriptSlidesRecording
- Aug 2026Slides
- May 2026TranscriptSlides
- Feb 2026TranscriptSlidesRecording
- Nov 2025TranscriptSlidesRecording
- Aug 2025TranscriptSlidesRecording
Credit ratings
- Rating update · 22 Sep from icra
- Rating update · 10 Mar from icra
- Rating update · 19 Dec 2025 from care
- Rating update · 12 Mar 2025 from icra
- Rating update · 20 Dec 2024 from care
- Rating update · 22 Dec 2023 from care
Documents open at BSE or the rating agency that issued them.
Sourced from the company's NSE XBRL filing dated 10 Aug 2026 (unaudited). View the source filing. Figures are as filed and are not investment advice.
Bharat Forge: common questions
Answered from the figures on this page.
