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Bharat Forge (BHARATFORG) USD

At a glance: strengths & risks
✓Revenue growing (+19% y/y, Q1 2026)✗Profit falling (-132% y/y, Q1 2026)

Sector: Auto components

IN_BHARATFORG

Price chart

2 031.8 INRDay -0.99%
2 052.22 047.12 0422 036.92 031.8Two-point segment from the displayed day change; full history unavailable.min 2 031.8 · max 2 052.2

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
2 031.8 INR · -0.99%
Market cap
10.2 bn USD

Growth

Δ revenue y/y
10.3%
Δ EBITDA y/y
-38.4%

Multiples

P/E (LTM)
86.6x
P/B (FY)
10.0x
P/E (ann.)
<0
EV/EBITDA (LTM)
—
EV/EBITDA (ann.)
366.1x

Cash return

Dividend yield
—
FCF yield (LTM)
-109.9%

Value creation

fundamental value/yr, % of market cap
Value created / year
-69.9%
↓ details

Liquidity

Daily turnover
—

Shares: connector/market_inputs

Amounts: USD (converted) · As reported
Converted modes use NBK / ECB-linked rates: balance sheet date for BS items, period average for P&L and cash flow (see filing row evidence). As reported keeps each row in its filing currency.

Financial results

Monetary columns are in B USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-06-30Q2 2026 (3M)PARTIAL0.5
y/y 10.3%
0.0
y/y -7.2%
—
y/y —
0.0
y/y -38.4%
0.0
y/y -129.4%
———
y/y —
1.0
y/y -6.1%
-3.8%≈ 60.3Link
2026-03-31FY 2026 (12M)OK—
y/y 5.3%
—
y/y -0.9%
—
y/y 4.9%
—
y/y 0.9%
—
y/y 8.2%
——2.4
y/y 0.9%
1.0
y/y -5.7%
11.5%60.3—
2025-12-31Q4 2025 (3M)PARTIAL0.5
y/y 19.6%
0.1
y/y 18.0%
0.0
y/y —
0.1
y/y 76.7%
0.0
y/y 18.8%
———
y/y —
1.0
y/y 22.7%
3.8%≈ 54.3—
2025-09-30Q3 2025 (3M)OK0.5
y/y 5.5%
0.1
y/y 7.8%
0.0
y/y —
0.1
y/y 61.4%
0.0
y/y 18.5%
——2.3
y/y 3.0%
1.1
y/y 22.0%
13.0%54.3—
2025-06-30Q2 2025 (3M)PARTIAL0.5
y/y -8.0%
0.1
y/y -17.4%
0.0
y/y —
0.1
y/y 24.4%
0.0
y/y 35.2%
———
y/y —
1.1
y/y 25.0%
12.2%≈ 56.9—
2025-03-31FY 2025 (12M)OK—
y/y -6.9%
—
y/y 1.9%
—
y/y -0.8%
—
y/y 1.0%
—
y/y -4.7%
——2.4
y/y 1.3%
1.1
y/y 25.9%
11.3%56.9—
2024-12-31Q4 2024 (3M)PARTIAL0.4
y/y -11.5%
0.0
y/y -11.0%
—
y/y —
0.0
y/y -11.0%
0.0
y/y -20.8%
———
y/y —
0.8
y/y 0.2%
3.9%≈ 6.5Link
2024-09-30Q3 2024 (3M)OK0.4
y/y -3.6%
0.1
y/y 4.4%
—
y/y —
0.1
y/y 4.4%
0.0
y/y 5.8%
——2.3
y/y -0.8%
0.9
y/y 2.2%
13.5%6.5Link
2024-06-30Q2 2024 (3M)PARTIAL0.5
y/y —
0.1
y/y —
—
y/y —
0.1
y/y —
0.0
y/y —
———
y/y —
0.9
y/y —
11.3%≈ 62.1Link
2024-03-31FY 2024 (12M)OK—
y/y 21.4%
—
y/y 62.7%
—
y/y 14.4%
—
y/y 43.1%
—
y/y 78.5%
——2.3
y/y 3.8%
0.9
y/y 5.4%
13.4%62.1—
2023-12-31Q4 2023 (3M)PARTIAL0.5
y/y —
0.1
y/y —
—
y/y —
0.1
y/y —
0.0
y/y —
———
y/y —
0.8
y/y —
5.0%≈ 0.9Link
2023-09-30Q3 2023 (3M)OK0.5
y/y —
0.0
y/y —
—
y/y —
0.0
y/y —
0.0
y/y —
——2.3
y/y —
0.8
y/y —
13.3%0.9Link
2023-03-31FY 2023 (12M)OK1.5
y/y —
0.1
y/y —
0.1
y/y —
0.2
y/y —
0.1
y/y —
0.2-10.02.2
y/y —
0.8
y/y —
—63.4—

Revenue & EBITDA

RevenueEBITDA

Quarterly values (INR mln)

02004006002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-50%0%50%100%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

Net debt / cash (INR mln)

020 00040 00060 0002024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q22026 q4

Profit and cash

Profit is cash-backed
In a typical year of 2022–2026 operating cash flow came to 1.75x of reported net profit; after capex, 0.32x.
year20222023202420252026
cash flow / profit0.47x2.45x1.75x1.91x1.38x
accruals, % of assets—-4.2%-3.7%-4.3%-1.8%
net debt / EBITDA 2.0x · capex 1.5x of depreciation
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Fundamental value creation

Value the company creates per year, as a % of market cap

Value created per year: -69.9%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2026-06-30 vs 2025-06-30)
= (48 − 78) × 6.21
-186
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (10 228 + 60 267) ÷ 299
30.0x — capped at 30x
3. Target multiple
(Current EV/EBITDA + 11) ÷ 2
= (30.0 + 11) ÷ 2
20.5x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= -3 327 + 0 + 0 − 0
-3 327
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (-186 × 20.5 + -3 327) ÷ 10 228
-69.9%

Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.

Caveats:

  • FCF (LTM) approximated by latest FY (ended 2026-03-31, before the latest reported period 2026-06-30)
  • dividends/buybacks not in data - balance cash flow uses net-debt change only

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +12% vs -3% the year before — a +15.1 pp move. 3-year CAGR +10%.
revenue growth by year: 2024 +22% · 2025 -3% · 2026 +12%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

Dividends

No dividend rows found for this issuer (checked: Yahoo Finance (ex-div)).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Bharat Forge (BHARATFORG) — from primary filings.

Frequently asked questions

What is Bharat Forge (BHARATFORG)'s P/E ratio?
Bharat Forge (BHARATFORG) trades at a P/E of 86.6x (price to trailing 12-month earnings).
What is Bharat Forge (BHARATFORG)'s EV/EBITDA?
Bharat Forge (BHARATFORG) trades at 220.0x EV/EBITDA.
What is Bharat Forge (BHARATFORG)'s P/B ratio?
Bharat Forge (BHARATFORG) trades at a P/B of 10.0x.
What is Bharat Forge (BHARATFORG)'s return on equity (ROE)?
Bharat Forge (BHARATFORG)'s ROE is -3.8%.
What is Bharat Forge (BHARATFORG)'s market capitalization?
Bharat Forge (BHARATFORG)'s market cap is 10.2 bn USD.

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