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Bharat Forge
SectorConsumer Discretionary
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.
In the news
Bharat Forge invests ₹240 cr in defence arm for ammo facility
AMCA first flight set for September 2028 as India advances stealth capabilities
Bharat Forge secures Pratt & Whitney Canada aerospace contract
Bharat Forge raises ₹2,000 cr via QIP with Singapore govt leading
Bharat Forge QIP opens at ₹1,947 floor price, shares jump 2%
Bharat Forge-Pratt & Whitney Canada partnership for HALE UAV engines
Bharat Forge merges German subsidiaries to simplify operations
Bharat Forge's KSSL signs defence pacts; hosts Singapore investor meet
Top 10 stocks rated 'Buy' offer 11-42% upside potential
ICICI Securities upgrades Bharat Forge to BUY, targets ₹2400
Bharat Forge shares fall 1.62% after Q1 FY27 loss of ₹89 cr
Bharat Forge margins drop, VIL returns to loss in Q1 earnings
Bharat Forge Q1FY27: Profit Under Pressure, Strategic Pivot Underway
Bharat Forge stock falls 10% after Q1 loss; defence euphoria dampened
Bharat Forge Q1 results today: 25% PAT growth expected
Indian Army Plans ₹16,000 Cr Drone Procurement Amid Self-Reliance Push
Bharat Forge partners FLYING WHALES for defence airships
Nifty Breaks Resistance at 24,500 as Q1FY27 Earnings Drive Market
SC Refers Kalyani Family Dispute to Mediation Over ₹1 Trillion
Bharat Forge rises 1.34% for third straight session amid slowing growth
The Quarter story
The two most recent quarterly results, compared side-by-side.
Bharat Forge posts a massive profit surge in Q4 FY26 driven by acquisitions and strong domestic demand, while E-Mobility losses and US operational headwinds weigh on overseas margins.
Defence order book grew from ₹9,463 Cr to ₹1,11,967 Cr from Q1 FY26 to Q1 FY27 — massive contract wins secure long-term visibility
E-Mobility EBITDA losses widened from ₹-58 Cr to ₹-419 Cr from Q1 to Q4 FY26 — segment faces steep scaling costs
Consolidated EBITDA surged from ₹6,817 Cr to ₹29,207 Cr from Q1 to Q4 FY26 — business consolidation drives profit scale
US manufacturing EBITDA margin fell from 6.1% to 1.1% from Q1 to Q4 FY26 — North American operations struggle with pricing
Indian operations PBT rose from ₹4,979 Cr to ₹21,954 Cr from Q1 to Q4 FY26 — domestic segment delivers strong earnings
Long-term debt climbed from ₹18,769 Cr to ₹21,116 Cr from Q1 to Q4 FY26 — balance sheet leverages up for acquisitions
Exports rebounded from ₹9,097 Cr to ₹10,844 Cr from Q3 to Q4 FY26 — international demand recovers after mid-year dip
Overseas PBT losses deepened from ₹-656 Cr to ₹-3,276 Cr from Q1 to Q4 FY26 — international headwinds drag on bottom line
European manufacturing EBITDA margin improved from 3.1% to 4.7% from Q1 to Q4 FY26 — cost controls boost regional profitability
Working capital loans rose from ₹44,169 Cr to ₹47,630 Cr from Q1 to Q4 FY26 — short-term financing needs increase with scale
Company insights, generated from the most recent coverage.
Debt-equity ratio improves from 0.74 to 0.63 post-QIP, reducing financial risk and lowering weighted average cost of capital.
QIP proceeds fund defense order book (₹10,961 Cr), aerospace vertical expansion, and semiconductor subsidiary, enhancing long-term growth visibility.
QIP at ₹1,947.70 (0.87% discount to market) raises up to ₹2,000 Cr with minimal 2.15-2.26% dilution, signaling strong institutional demand.