Bharat Forge

    BHARATFORG
    Auto
    ₹1944.90
    price as of 11/9/2026, 5:28:13 pm

    Market cap ₹92,983 Cr

    P/E
    130.88
    Day range
    ₹1,908.60 – ₹1,947.90
    52-week range
    ₹1,179.00 – ₹2,295.00
    Volume
    2.84 L
    Open
    ₹1,947.80
    Prev close
    ₹1,954.90
    Promoters pledged 1.7% of their shares
    52-week range, adjusted for splits and bonuses
    ₹1,179₹2,295
    26 Sept 202510 Aug 2026
    Index membership & F&O
    NIFTY 200NIFTY 500NIFTY MIDCAP 150NIFTY AUTOF&O lot 500

    Price history

    6M change +8.22%RSI (14) 37.3 NeutralSMA 20 · 50 overlaid

    Price & delivery on the exchange

    NSE bhavcopy to 11 Sept 2026 · delivery 40.1% today vs 48.8% average · BSE close ₹1,940

    1 Apr23 Apr15 May5 Jun24 Jun15 Jul3 Aug21 Aug11 Sept₹1,600₹1,800₹2,000₹2,200₹2,4000%25%50%75%100%
    • Delivery
    • NSE close
    • BSE close

    High delivery with a rising price suggests buyers holding rather than trading the move.

    Futures & options

    NSE F&O close, 11 Sept 2026 · options expiring 29 Sept 2026

    Short build-up
    Near-month future
    ₹1,947.6
    Change
    -0.42%
    Basis over spot
    +₹2.71
    Futures OI (shares)
    83.2 L
    OI change
    +0.51%
    Put-call ratio
    0.72
    Max pain
    ₹2,000
    Resistance (call OI)
    ₹2,100
    Support (put OI)
    ₹1,900
    Lot size
    500

    Open interest by strike

    Calls open above (resistance) and puts below (support), in shares

    1720180018601920198020402100216022202280234001.5 L3.0 L4.5 L6.0 Lspot
    • Call OI
    • Put OI

    Futures open interest and price

    Near-month future, day by day since collection began

    The daily history builds from each close.

    Key metrics

    P/E (TTM)
    145.1
    EPS (TTM)
    ₹14.77
    Price / Book
    9.88
    ROE (FY26)
    11.6%
    ROCE (latest year)
    13%
    Dividend yield
    0.43%
    Net margin (TTM)
    4.2%
    Current ratio
    1.17
    Debt / Equity
    0.23
    Revenue growth (5y)
    21.6%

    Moving averages (NSE)

    Simple moving averages of the NSE price, and where the last price sits against each
    5-day10-day20-day50-day100-day300-day
    ₹2,004.94Price below₹2,027.48Price below₹2,049.36Price below₹2,115.19Price below₹2,030.2Price below₹1,798.51Price above

    Charts & trends

    From company filings. Amounts in ₹ crore.

    Revenue 3Y CAGR
    +9.2%
    Profit 3Y CAGR
    +28.9%
    Revenue YoY (Jun 2026)
    +18.7%
    Profit YoY (Jun 2026)
    -131.7%
    Operating margin
    15.0%
    Net margin
    -1.9%

    Revenue, profit & margin - quarterly

    Bars in ₹ crore (a loss shows red); line is operating margin

    Sep 2023Mar 2024Sep 2024Mar 2025Sep 2025Jun 2026-2.0K Cr0 Cr2.0K Cr4.0K Cr6.0K Cr0%5%10%15%20%
    • Revenue
    • Net profit
    • Operating margin

    Who owns the company

    Shareholding as of Jun 2026

    • Promoter
    • DII
    • FII
    • Public
    • Government

    Cash flows

    Where cash came from and went, by fiscal year (₹ crore)

    Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026-2.0K Cr-1.0K Cr0 Cr1.0K Cr2.0K Cr
    • Operating
    • Investing
    • Financing
    • Free cash flow

    Return on equity

    Net profit over shareholders' equity, by fiscal year

    FY17FY18FY19FY20FY21FY22FY23FY24FY25FY26-7%0%7%14%21%15%

    Equity vs debt

    Shareholders' equity against borrowings (₹ crore); line is debt-to-equity

    Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 20260 Cr2.5K Cr5.0K Cr7.5K Cr10.0K Cr0.0x0.3x0.6x0.9x1.2x
    • Equity
    • Debt
    • Debt / equity

    Financial statements

    ₹ Crore
    Quarterly results, oldest period first, figures in rupees crore
    Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
    Sales3,7743,8664,1644,1063,6893,4763,8533,9094,0324,3434,5284,640
    Expenses3,1533,1693,5213,3653,0422,8533,1743,2393,3083,5973,7513,942
    Operating Profit621698643741647623679670724746777698
    OPM %16%18%15%18%18%18%18%17%18%17%17%15%
    Other Income515845-996238575054-13-46-301
    Interest12413711612411096888280778490
    Depreciation211224207218213218224226241249255263
    Profit before tax33739536630038534742441145740739244
    Tax %36%36%38%42%37%39%33%31%34%33%40%302%
    Net Profit215254227175243213283284299273233-90
    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 11 Sept 2026. Consolidated figures where the company reports them.Information only, not investment advice.

    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 9.71 times its book value
    • 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
    +16%
    5 Years
    +20%
    3 Years
    +22%
    1 Year
    +60%

    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

    Percentage of shares held by each category at each quarter end
    HolderSept 2025Dec 2025Mar 2026Jun 2026Change
    Promoter44.07%44.07%44.07%44.07%0.00 pp
    FII13.62%12.40%14.15%15.04%+0.89 pp
    DII32.11%34.08%32.62%32.18%-0.44 pp
    Government0.15%0.15%0.15%0.15%0.00 pp
    Public10.05%9.29%9.00%8.54%-0.46 pp

    Filed with NSE for Jun 2026: promoters 44.07%, public 55.93% · XBRL filing

    Analysts & fund holdings

    41%
    41% recommend buy
    22 analysts cover the stock
    Valuation vs Metals & Mining
    P/E130.9 vs 24.9
    Sector P/B3.12
    Beta1.29

    Who holds the shares, quarter by quarter

    Mutual funds 20.74% (-0.31 pp)
    Mar 25
    Jun 25
    Sept 25
    Dec 25
    Mar 26
    Jun 26
    • Promoters44.1%
    • Foreign institutions15.0%
    • Mutual funds20.7%
    • Insurance7.7%
    • Other domestic institutions3.9%
    • Retail6.5%
    • Others2.1%
    Mutual funds holding the most
    Fund% of company% of fund3-month change
    HDFC Defence Fund1.56%13.40%-1.16 pp
    Kotak Flexi Cap Fund1.47%2.59%+0.32 pp
    HDFC Mid Cap Fund1.37%1.25%-0.12 pp
    Nippon India Growth Mid Cap Fund1.09%2.05%-0.32 pp
    SBI Large & Midcap Fund1.00%2.34%-0.13 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.

    Corporate actions

    • dividend
      ₹6.50

      Dividend - Rs 6.50 Per Share

      3 Jul 2026
      ex-date
    • dividend
      ₹2.00

      Interim Dividend - Rs 2 Per Share

      18 Feb 2026
      ex-date
    • dividend
      ₹6.00

      Dividend - Rs 6 Per Share

      4 Jul 2025
      ex-date
    • dividend
      ₹2.50

      Interim Dividend - Rs 2.5 Per Share

      18 Feb 2025
      ex-date
    • dividend
      ₹6.50

      Dividend - Rs 6.50 Per Share

      5 Jul 2024
      ex-date
    • dividend
      ₹2.50

      Interim Dividend - Rs 2.50 Per Share

      23 Feb 2024
      ex-date
    • dividend
      ₹5.50

      Dividend - Rs 5.50 Per Share

      7 Jul 2023
      ex-date
    • dividend
      ₹1.50

      Interim Dividend - Rs 1.50 Per Share

      24 Nov 2022
      ex-date
    • dividend
      ₹5.50

      Dividend - Rs 5.50 Per Share

      14 Jul 2022
      ex-date
    • dividend
      ₹1.50

      Interim Dividend - Rs 1.50 Per Share

      25 Nov 2021
      ex-date
    • dividend
      ₹2.00

      Dividend - Rs 2 Per Share

      15 Jul 2021
      ex-date
    • dividend
      ₹2.00

      Interim Dividend - Rs 2 Per Share

      3 Mar 2020
      ex-date
    • dividend
      ₹1.50

      Interim Dividend - Rs 1.50 Per Share

      20 Nov 2019
      ex-date
    • dividend
      ₹2.50

      Annual General Meeting/Dividend Rs 2.50 Per Share

      1 Aug 2019
      ex-date
    • dividend
      ₹2.50

      Interim Dividend Rs - Rs 2.50 Per Share

      15 Nov 2018
      ex-date
    • dividend
      ₹2.50

      Annual General Meeting/Dividend- Rs 2.50 Per Share

      27 Jul 2018
      ex-date
    • dividend
      ₹2.00

      Interim Dividend Rs 2/- Per Share

      16 Nov 2017
      ex-date
    • bonus
      Not available — not reported in this filing

      Bonus 1:1

      28 Sept 2017
      ex-date
    • dividend
      ₹5.00

      Dividend - Rs 5/- Per Share

      28 Jul 2017
      ex-date
    • dividend
      ₹2.50

      Interim Dividend Rs 2.50 Per Share

      16 Feb 2017
      ex-date

    Company announcements

    Company Update
    Announcement under Regulation 30 (LODR)-Restructuring

    Intimation regarding merger of step-down subsidiary with subsidiary of the Company

    Company Update
    Announcement under Regulation 30 (LODR)-Newspaper Publication

    Newspaper Advertisement

    Company Update
    Announcement under Regulation 30 (LODR)-Press Release / Media Release

    Press Release

    Company Update
    Announcement under Regulation 30 (LODR)-Press Release / Media Release

    Press Release

    Company Update
    Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

    Intimation for Investor Meet scheduled on September 8, 2026

    Company Update
    Announcement under Regulation 30 (LODR)-Restructuring

    Intimation regarding divestment of stake held in Joint Venture

    Company Update
    Announcement under Regulation 30 (LODR)-Newspaper Publication

    Newspaper Publication

    Company Update
    Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

    Intimation regarding presentation for the upcoming investor meet

    Company Update
    Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

    Intimation regarding schedule of investor meet

    Company Update
    Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome

    Analyst / Investor call - Transcripts

    Company Update
    Announcement under Regulation 30 (LODR)-Newspaper Publication

    Newspaper Advertisement- Notice of Postal Ballot

    AGM/EGM
    Shareholder Meeting / Postal Ballot-Notice of Postal Ballot

    Intimation regarding Notice of Postal Ballot

    AGM/EGMPrice-sensitive
    Shareholder Meeting / Postal Ballot-Scrutinizer's Report

    Scrutinizer report and voting results of 65th Annual General Meeting of the Company

    AGM/EGMPrice-sensitive
    Shareholder Meeting / Postal Ballot-Outcome of AGM

    Proceedings of 65th AGM of the Company held on Tuesday, August 11, 2026

    Company Update
    Announcement under Regulation 30 (LODR)-Newspaper Publication

    Newspaper Publication of Financial Results

    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 2004
      Read on SEBI
    • Rights issue - PDF

      Bharat Forge Limited - PDF

      4 Aug 2004
      Read on SEBI

    Regulatory orders

    • Settlement order

      Settlement Order in respect of Bharat Forge Limited

      24 Nov 2022
      Read 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 2020
      Read on SEBI

    Documents

    Annual reports

    Earnings calls

    Credit ratings

    Documents open at BSE or the rating agency that issued them.