| Quarterly Financials | Jun 2018 | Sept 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sept 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sept 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 |
Revenue  | 2,454 | 2,638 | 2,517 | 2,740 | 2,373 | 2,207 | 1,868 | 1,796 | 1,199 | 1,410 | 1,761 | 2,135 | 2,148 | 2,424 | 2,596 | 3,656 | 2,884 | 3,122 | 3,390 | 3,687 | 3,944 | 3,827 | 3,924 | 4,220 | 4,159 | 3,750 | 3,514 | 3,915 | 3,959 |
| Expenses | 1,931 | 2,081 | 2,006 | 2,083 | 1,923 | 1,829 | 1,645 | 1,667 | 1,170 | 1,216 | 1,743 | 1,682 | 1,728 | 1,887 | 1,895 | 3,043 | 2,429 | 2,647 | 2,914 | 3,232 | 3,282 | 3,155 | 3,169 | 3,531 | 3,517 | 3,042 | 2,853 | 3,179 | 3,239 |
| EBITDA | 523 | 556 | 511 | 657 | 450 | 379 | 223 | 129 | 29 | 194 | 19 | 453 | 420 | 537 | 701 | 613 | 455 | 476 | 476 | 455 | 662 | 672 | 756 | 689 | 642 | 708 | 661 | 736 | 719 |
| Operating Profit % | 20 % | 20 % | 19 % | 22 % | 17 % | 15 % | 10 % | 4 % | -1 % | 12 % | -1 % | 19 % | 18 % | 21 % | 21 % | 15 % | 15 % | 14 % | 13 % | 11 % | 15 % | 16 % | 18 % | 15 % | 14 % | 18 % | 18 % | 17 % | 17 % |
| Depreciation | 126 | 136 | 132 | 127 | 138 | 134 | 130 | 146 | 139 | 152 | 161 | 161 | 167 | 174 | 176 | 214 | 181 | 188 | 186 | 181 | 206 | 211 | 224 | 207 | 218 | 213 | 218 | 224 | 226 |
| Interest | 32 | 38 | 21 | 37 | 46 | 37 | 43 | 46 | 37 | 14 | 34 | 23 | 50 | 23 | 25 | 63 | 40 | 53 | 109 | 97 | 115 | 124 | 137 | 116 | 124 | 110 | 96 | 88 | 82 |
| Profit Before Tax | 365 | 383 | 358 | 493 | 266 | 209 | 50 | -63 | -146 | 28 | -176 | 269 | 203 | 341 | 500 | 337 | 235 | 235 | 181 | 177 | 342 | 337 | 395 | 366 | 300 | 385 | 347 | 424 | 411 |
| Tax | 126 | 131 | 141 | 169 | 94 | 3 | 10 | 6 | -19 | 29 | 35 | 57 | 51 | 70 | 78 | 105 | 74 | 93 | 102 | 49 | 128 | 122 | 141 | 139 | 125 | 142 | 134 | 142 | 127 |
| Net Profit | 239 | 253 | 217 | 324 | 172 | 206 | 40 | -69 | -127 | -1 | -210 | 212 | 153 | 271 | 422 | 232 | 160 | 142 | 79 | 128 | 214 | 215 | 254 | 227 | 175 | 243 | 213 | 283 | 284 |
| EPS in ₹ | 5.14 | 5.46 | 4.69 | 6.88 | 3.72 | 4.44 | 0.90 | -1.55 | -2.70 | 0.00 | -4.49 | 4.48 | 3.30 | 5.82 | 9.05 | 5.06 | 3.53 | 3.13 | 1.78 | 2.91 | 4.80 | 4.88 | 5.68 | 5.07 | 4.36 | 5.23 | 4.54 | 5.92 | 5.93 |
Bharat Forge
Bharat Forge
1,263.20
+26.00
(2.10%)
Market Cap
60,392.20 Cr
EPS
20.05
PE Ratio
58.86
Dividend Yield
0.67 %
Industry
Automobiles52 Week High
1,626.00
52 Week Low
919.10
PB Ratio
6.52
Debt to Equity
0.89
Sector
Auto Components
Investment Returns
In Long Term
In Short Term
1 Year
0.00%
2 Years
0.00%
3 Years
0.00%
4 Years
0.00%
5 Years
0.00%
Analyst Rating
- By Refinitiv from24 analysts
Company News
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Bharat Forge and Windracers signed a strategic memorandum of understanding to advance UAV operations in India, announced at DSEI UK 2025. The partnership leverages the UK-India Free Trade Agreement to promote aerospace technology transfer and innovation between both countries, supporting the India-UK Vision 2035 objectives.
Kalyani Strategic Systems Limited, a wholly owned subsidiary of Bharat Forge Limited, signed an agreement with MP3 International, a GRADEONE subsidiary, for supplying artillery system critical spare parts to the UAE. Under the contract, Kalyani Strategic Systems will supply large calibre 155mm barrels for howitzers to the UAE. The agreement was signed by Khalifa Al Ali, CEO of MP3 International, and Neelesh Tungar, CEO of Kalyani Strategic Systems Limited. This marks the first contract of its kind for a critical defence component between an Emirati and Indian company. The contract aims to strengthen defence cooperation between UAE and India while serving markets in Southeast Asia and MENA regions.
Bharat Forge Limited signed a Memorandum of Understanding with UK-based Windracers Limited to collaborate on deployment, localisation and application of Windracers ULTRA Unmanned Aerial Vehicle across India. The partnership was announced at DSEI UK 2025 in London with an initial two-year term. The collaboration aims to address requirements across Indian military and civil sectors, including Carrier On Board Delivery operations for the Indian Navy and critical logistics for Indian Army and Air Force. Windracers ULTRA can carry up to 150kg over distances up to 1,000km and is designed for endurance missions of six to seven hours. The partnership builds on the UK-India Free Trade Agreement and aligns with India-UK Vision 2035 goals for aerospace technology transfer and innovation.
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Peer Comparison Compare Peers on Screener
Competitors | LTP | Market Cap (₹ Cr.) | P/E Ratio | Revenue (₹ Cr.) | YoY Revenue Growth % | Net Profit (₹ Cr.) | YoY Profit Growth % | RSI |
|---|---|---|---|---|---|---|---|---|
39,920.00 | #1 1,17,738.60 | 52.97 | 18,901.30 | 8.32 | 2,013 | #1 139.35 | 46.67 | |
109.89 | 1,15,982.80 | #1 34.23 | #1 1,14,220.30 | 15.51 | #1 4,146 | -44.76 | 71.27 | |
1,321.10 | 75,864.90 | 73.95 | 16,803.90 | #1 19.48 | 1,021 | 46.58 | 64.55 | |
3,404.40 | 65,873.10 | 101.31 | 19,835.70 | 15.71 | 1,054 | -4.29 | 69.07 | |
4,057.90 | 63,426.50 | 62.69 | 8,350.70 | 13.22 | 939 | 16.99 | 57.21 | |
1,263.20 | #6 60,392.20 | #7 58.86 | #6 15,336.60 | #10 -3.60 | #6 913 | #2 62.60 | 63.86 | |
2,922.20 | 41,104.50 | 48.33 | 11,677.80 | 13.09 | 836 | 11.03 | 52.66 | |
418.20 | 35,547.00 | 41.89 | 17,350.60 | 2.91 | 801 | 24.37 | 57.99 | |
49.35 | 32,727.30 | 54.77 | 9,332.20 | 11.96 | 606 | -3.90 | 70.72 | |
432.55 | 26,892.40 | 44.47 | 3,681.50 | 14.73 | 600 | -14.11 | 42.67 |
Forecast
Actual
Growth Rate
Revenue Growth
-3.60 %
Net Income Growth
0.34 %
Cash Flow Change
7.93 %
ROE
-22.05 %
ROCE
-14.19 %
EBITDA Margin (Avg.)
8.28 %
Quarterly Financial Results
Balance Sheet
| Balance Sheet | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Total Assets | 8,236 | 8,292 | 8,883 | 10,016 | 11,642 | 11,563 | 13,178 | 15,609 | 18,384 | 19,349 | 20,088 |
| Fixed Assets | 2,629 | 3,134 | 3,277 | 3,500 | 3,625 | 4,002 | 4,750 | 4,870 | 6,161 | 6,309 | 6,627 |
| Current Assets | 4,433 | 4,254 | 4,220 | 4,581 | 5,539 | 5,271 | 6,214 | 7,931 | 9,002 | 10,016 | 10,232 |
| Capital Work in Progress | 870 | 409 | 453 | 344 | 831 | 1,143 | 900 | 1,125 | 701 | 991 | 1,732 |
| Investments | 457 | 885 | 1,192 | 1,501 | 1,524 | 1,618 | 2,607 | 2,604 | 2,569 | 1,849 | 2,063 |
| Other Assets | 4,281 | 3,864 | 3,962 | 4,672 | 5,663 | 4,800 | 4,921 | 7,010 | 8,953 | 10,200 | 9,667 |
| Total Liabilities | 8,236 | 8,292 | 8,883 | 10,016 | 11,642 | 11,563 | 13,178 | 15,609 | 18,384 | 19,349 | 20,088 |
| Current Liabilities | 2,467 | 2,869 | 3,206 | 3,754 | 4,109 | 3,967 | 4,518 | 6,114 | 8,277 | 9,280 | 8,703 |
| Non Current Liabilities | 2,325 | 2,014 | 1,551 | 1,581 | 2,128 | 2,344 | 3,213 | 2,868 | 3,366 | 2,904 | 2,165 |
| Total Equity | 3,444 | 3,409 | 4,126 | 4,681 | 5,406 | 5,252 | 5,447 | 6,627 | 6,742 | 7,165 | 9,221 |
| Reserve & Surplus | 3,398 | 3,367 | 4,070 | 4,557 | 5,282 | 5,125 | 5,321 | 6,476 | 6,611 | 7,076 | 9,156 |
| Share Capital | 47 | 47 | 47 | 93 | 93 | 93 | 93 | 93 | 93 | 93 | 96 |
Cash Flow
| Cash Flow | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Net Cash Flow | 208 | 19 | -86 | -69 | 83 | 26 | 87 | 126 | -91 | 796 | -738 |
| Investing Activities | -467 | -888 | -737 | -722 | -1,196 | -1,114 | -1,511 | -690 | -1,666 | -666 | -1,964 |
| Operating Activities | 1,035 | 1,356 | 1,052 | 967 | 912 | 1,522 | 1,020 | 506 | 1,295 | 1,664 | 1,796 |
| Financing Activities | -360 | -448 | -401 | -314 | 368 | -381 | 578 | 310 | 280 | -203 | -570 |
Share Holding
| % Holding | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 |
| Promoter | 45.76 % | 44.76 % | 44.76 % | 44.76 % | 45.25 % | 45.25 % | 45.25 % | 45.25 % | 45.25 % | 45.25 % | 45.25 % | 45.25 % | 45.25 % | 45.25 % | 45.25 % | 44.07 % | 44.07 % | 44.07 % |
| FIIs | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 16.28 % | 0.00 % | 16.47 % | 17.03 % | 18.72 % | 17.88 % | 16.07 % | 14.37 % |
| DIIs | 11.98 % | 11.94 % | 13.12 % | 19.83 % | 23.38 % | 24.23 % | 23.25 % | 26.28 % | 27.89 % | 26.31 % | 28.12 % | 25.12 % | 28.24 % | 28.13 % | 26.47 % | 28.50 % | 30.35 % | 31.41 % |
| Government | 0.28 % | 0.16 % | 0.16 % | 0.16 % | 0.16 % | 0.16 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % |
| Public / Retail | 8.63 % | 8.29 % | 8.28 % | 8.32 % | 8.30 % | 8.21 % | 8.31 % | 8.27 % | 8.43 % | 8.09 % | 8.07 % | 8.01 % | 7.81 % | 7.48 % | 7.50 % | 7.47 % | 7.45 % | 7.78 % |
| Others | 33.35 % | 34.84 % | 33.68 % | 26.92 % | 22.91 % | 22.15 % | 23.18 % | 20.20 % | 18.42 % | 20.35 % | 2.27 % | 21.62 % | 2.22 % | 2.10 % | 2.05 % | 2.08 % | 2.05 % | 2.37 % |
| No of Share Holders | 1,44,297 | 1,36,944 | 1,41,346 | 1,51,059 | 1,53,718 | 1,56,445 | 1,58,845 | 1,55,734 | 1,62,105 | 1,56,686 | 1,69,954 | 1,79,683 | 1,89,104 | 1,82,988 | 1,99,721 | 2,03,973 | 2,14,725 | 2,42,732 |
Dividend History
Dividends per share (FY)
Dividend yield (FY) %
Dividends per share (FY)
Dividend yield (FY) %
| Annual Cash Flows | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Per Share (₹) | 0.00 | 7.5 | 4.5 | 5 | 3.5 | 2 | 7 | 7 | 9 | 8.5 |
| Dividend Yield (%) | 0.00 | 1.07 | 0.88 | 2.13 | 0.59 | 0.29 | 0.92 | 0.62 | 0.77 | 0.69 |
Corporate Action
| Record Date | Corporate Action | Information | Announcement Day | LTP at Annoucement | LTP at Record Day |
|---|---|---|---|---|---|
| 30 Sept 2017 |  Bonus | 1:1 | 28 Sept 2017 | 189.40 | 189.40 |
| 16 Jul 2021 |  Dividend | ₹ 2.00 /share | 15 Jul 2021 | 695.85 | 810.60 |
| 26 Nov 2021 | Dividend | ₹ 1.50 /share | 25 Nov 2021 | 782.50 | 735.00 |
| 15 Jul 2022 | Dividend | ₹ 5.50 /share | 14 Jul 2022 | 629.15 | 658.70 |
| 12 Aug 2022 |  Annual General Meeting | NA | 12 Aug 2022 | 629.15 | 735.90 |
| 25 Nov 2022 | Dividend | ₹ 1.50 /share | 24 Nov 2022 | 886.70 | 843.85 |
| 07 Jul 2023 | Dividend | ₹ 5.50 /share | 07 Jul 2023 | 774.95 | 855.50 |
| 10 Aug 2023 | Annual General Meeting | NA | 10 Aug 2023 | 774.95 | 967.10 |
| 23 Feb 2024 | Dividend | ₹ 2.50 /share | 23 Feb 2024 | 1,314.05 | 1,132.85 |
| 05 Jul 2024 | Dividend | ₹ 6.50 /share | 05 Jul 2024 | 1,240.20 | 1,670.30 |
| 09 Aug 2024 | Annual General Meeting | NA | 09 Aug 2024 | 1,240.20 | 1,605.45 |
| 14 Nov 2024 |  Quarterly Result Announcement | NA | 14 Nov 2024 | 1,419.15 | 1,321.45 |
| 12 Feb 2025 | Quarterly Result Announcement | NA | 12 Feb 2025 | 1,196.65 | 1,112.40 |
| 18 Feb 2025 | Dividend | ₹ 2.50 /share | 18 Feb 2025 | 1,112.40 | 1,081.10 |
| 08 May 2025 | Quarterly Result Announcement | NA | 08 May 2025 | 1,088.50 | 1,140.45 |
| 04 Jul 2025 | Dividend | ₹ 6.00 /share | 04 Jul 2025 | 1,140.45 | 1,298.70 |
| 06 Aug 2025 | Quarterly Result Announcement | NA | 06 Aug 2025 | 1,215.50 | 1,161.35 |
| 07 Aug 2025 | Annual General Meeting | NA | 07 Aug 2025 | 1,140.45 | 1,139.40 |
Announcements
Announcement under Regulation 30 (LODR)-Newspaper Publication
4 days ago
4 days agoAnnouncement under Regulation 30 (LODR)-Press Release / Media Release5 days ago
5 days agoAnnouncement under Regulation 30 (LODR)-Press Release / Media Release5 days ago
5 days agoAnnouncement under Regulation 30 (LODR)-Newspaper Publication7 days ago
7 days agoAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation8 days ago
8 days agoAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationSep 05, 2025
Sep 05, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationSep 05, 2025
Sep 05, 2025Announcement Under Reg. 30 (LODR)Sep 04, 2025
Sep 04, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 18, 2025
Aug 18, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptAug 11, 2025
Aug 11, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 11, 2025
Aug 11, 2025Shareholder Meeting / Postal Ballot-Scrutinizers ReportAug 08, 2025
Aug 08, 2025Shareholder Meeting / Postal Ballot-Outcome of AGMAug 07, 2025
Aug 07, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 07, 2025
Aug 07, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeAug 06, 2025
Aug 06, 2025Announcement under Regulation 30 (LODR)-Updates on AcquisitionAug 06, 2025
Aug 06, 2025Announcement under Regulation 30 (LODR)-Monitoring Agency ReportAug 06, 2025
Aug 06, 2025Announcement under Regulation 30 (LODR)-Investor PresentationAug 06, 2025
Aug 06, 2025Unaudited Financial Results (Standalone And Consolidated) For The Quarter Ended June 30 2025Aug 06, 2025
Aug 06, 2025Board Meeting Outcome for Outcome Of Board Meeting Dated August 6 2025Aug 06, 2025
Aug 06, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJul 31, 2025
Jul 31, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseJul 30, 2025
Jul 30, 2025Board Meeting Intimation for Approval Of Unaudited Financial Statements (Standalone And Consolidated) For The Quarter Ended June 30 2025Jul 25, 2025
Jul 25, 2025Announcement under Regulation 30 (LODR)-Updates on AcquisitionJul 17, 2025
Jul 17, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationJul 16, 2025
Jul 16, 2025Business Responsibility and Sustainability Reporting (BRSR)Jul 15, 2025
Jul 15, 2025Reg. 34 (1) Annual Report.Jul 15, 2025
Jul 15, 2025Notice Of The 64Th Annual General Meeting Scheduled To Be Held On August 7 2025 At 11:00 A.M. (I.S.T.)Jul 15, 2025
Jul 15, 2025Shareholder Meeting / Postal Ballot-Outcome of Postal_BallotJul 09, 2025
Jul 09, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationJul 09, 2025
Jul 09, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Jul 08, 2025
Jul 08, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationJul 04, 2025
Jul 04, 2025Announcement under Regulation 30 (LODR)-AcquisitionJul 03, 2025
Jul 03, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseJul 02, 2025
Jul 02, 2025Announcement under Regulation 30 (LODR)-Updates on AcquisitionJun 30, 2025
Jun 30, 2025Announcement under Regulation 30 (LODR)-RestructuringJun 30, 2025
Jun 30, 2025Announcement under Regulation 30 (LODR)-AcquisitionJun 30, 2025
Jun 30, 2025Closure of Trading WindowJun 26, 2025
Jun 26, 2025 Shareholder Meeting / Postal Ballot-Scrutinizer"s ReportJun 23, 2025
Jun 23, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseJun 17, 2025
Jun 17, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationJun 13, 2025
Jun 13, 2025TDS CommunicationJun 11, 2025
Jun 11, 2025KYC Letters To ShareholdersJun 09, 2025
Jun 09, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJun 09, 2025
Jun 09, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJun 09, 2025
Jun 09, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJun 09, 2025
Jun 09, 2025Intimation Of Record Date.Jun 06, 2025
Jun 06, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationMay 28, 2025
May 28, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationMay 28, 2025
May 28, 2025Update On Litigation Under Regulation 30 Of LODR.May 27, 2025
May 27, 2025Technical Indicators
RSI(14)
Neutral 63.86
ATR(14)
Less Volatile 32.76
STOCH(9,6)
Overbought 82.85
STOCH RSI(14)
Overbought 100.00
MACD(12,26)
Bullish 13.94
ADX(14)
Strong Trend 34.58
UO(9)
Bearish 55.18
ROC(12)
Uptrend And Accelerating 10.01
WillR(14)
Overbought -2.01
Mutual Fund Holdings
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Tata Large Cap Direct Plan-Growth 
Bandhan Multi-Factor Fund Direct - Growth 
Bank of India Flexi Cap Fund Direct-Growth About Bharat Forge
Bharat Forge Ltd (BFL) is an Indian multinational company based in Pune, providing high-performance components and solutions to various industrial sectors including Automotive, Railways, Power, Defence, Construction & Mining, Aerospace, Marine, and Oil & Gas. The company is part of the Kalyani Group and operates manufacturing facilities in Mundhwa, Baramati, Chakan, Satara, and Nellore. BFL manufactures and sells forged and machined components, including aluminium castings, for auto and industrial sectors. The company has expanded through acquisitions, joint ventures, and investments in new technologies, particularly in areas such as electric vehicles, defense, and aerospace. BFL has a global presence with subsidiaries and manufacturing facilities in multiple countries, and has been actively diversifying its product portfolio and market reach.
Website
Chairperson NameB N Kalyani
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