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.
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.
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.
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.
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