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HomeMarketStocksBuy Bharat Forge, target price Rs 1005: Prabhudas Lilladher

Buy Bharat Forge, target price Rs 1005: Prabhudas Lilladher


Prabhudas Lilladher has purchase name on Bharat Forge with a goal worth of Rs 1005. The present market worth of Bharat Forge Ltd. is Rs 869.05.

Bharat Forge, included within the yr 1961, is a Giant Cap firm (having a market cap of Rs 40443.36 Crore) working in Auto Ancillaries sector.

Bharat Forge key Merchandise/Income Segments embody Metal Forgings, Scrap, Export Incentives, Job Work, Wind Mills for the yr ending 31-Mar-2022.

Financials

For the quarter ended 30-09-2022, the corporate has reported a Consolidated Complete Revenue of Rs 3122.27 Crore, up 8.26 % from final quarter Complete Revenue of Rs 2884.04 Crore and up 28.81 % from final yr identical quarter Complete Revenue of Rs 2423.90 Crore. Firm has reported web revenue after tax of Rs 141.81 Crore in newest quarter.

The corporate’s prime administration contains Mr.B N Kalyani, Mr.Dipak B Mane, Mr.Vimal R Bhandari, Mr.P H Ravikumar, Mrs.Lalita D Gupte, Mr.Pratap G Pawar, Mr.P C Bhalerao, Mr.Kishore M Saletore, Mr.S E Tandale, Mr.B P Kalyani, Mr.Amit B Kalyani, Mr.G Okay Agarwal, Mr.Murali G Sivaraman. Firm has SRBC & Co LLP as its auditors. As on 30-09-2022, the corporate has a complete of 47 Crore shares excellent.


Funding Rationale
The brokerage stays optimistic on Bharat Forge led by
multiple growth levers in domestic & export automotive segment with cyclical turnaround in CV industry and easing of chip shortage going ahead; strong double-digit growth in high margin non-auto business; rising traction in E-mobility segment; and potential revenue contribution from defense & renewable segment. Further, Prabhudas has maintained our buy with a target price of Rs 1,005 at 28x standalone EPS (Rs 950 earlier) as we roll forward to Dec-24E.


Promoter/FII Holdings
Promoters held 45.25 per cent stake in the company as of 30-Sep-2022, while FIIs owned 18.82 per cent, DIIs 24.39 per cent.

(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.



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