- 17 May 2022
- ICICIdirect Research
Bharat Forge reports healthy performance in Q4FY22, guides for robust demand outlook for FY23E
BHARATFORG - 1587 Change: 9.10 (0.58 %)News: Bharat Forge posted a healthy performance for the quarter. Standalone revenues came in at Rs. 1,674 crore, up 4.5% QoQ, amid 7.8% tonnage growth to 57,543 MT. Standalone EBITDA for the quarter was at Rs. 431 crore, with consequent margins at 25.8% up 30 bps QoQ. Reported standalone PAT was at Rs. 262 crore, down 22.4% QoQ (Q3FY22 had exceptional gains)
Views: Growth was led by international operations wherein revenues grew 9% QoQ to Rs. 939.2 crore. Domestic revenues were flat QoQ at Rs. 716.1 crore. With strong new order wins of ~Rs. 1,000 crore across automotive & industrial application at Indian operations & ~US$150 million across steel & aluminum forging business at its International operations the company is well positioned on growth track. The company has declared a dividend of Rs. 5.5/ share for FY22. The management commentary was upbeat on demand prospects for FY23E with healthy contribution from new verticals (including EV)
Impact: Positive