Bharat Forge’s profitability has been trimmed
DSIJ Intelligence / 17 May 2016
Bharat Forge has declared its Q4FY16 results on May 17. The company’s top line has declined by 17.64 per cent to Rs 1008 crore in Q4FY16 as compared to same period in previous financial year.
Bharat Forge has declared its Q4FY16 results on May 17. The company’s top line has declined by 17.64 per cent to Rs 1008 crore in Q4FY16 as compared to same period in previous financial year. Its EBITDA too has reduced by 17.09 per cent to Rs 298 crore in Q4FY16 on a yearly basis. Bharat Forge’s EBITDA margin has expanded by 19 basis points to 29.58 per cent in Q4FY16 as compared to same period in previous fiscal year. The company’s PAT has decreased by 19.03 per cent to Rs 165 crore in Q4FY16 on a yearly basis. Its PAT margin also has contracted by 28 basis points to 16.32 per cent in Q4FY16 as compared to same period in previous fiscal year.
Bharat Forge’s revenue has remained flat and has increased by just 0.29 per cent to Rs 7647 crore in FY16 as compared to previous financial year. The company’s EBITDA has declined by 1.35 per cent to Rs 1421 crore in FY16 on a yearly basis. Bharat Forge’s EBITDA margin has contracted by 31 basis points to 18.59 per cent in FY16 as compared to previous fiscal year. The company’s Net Profit also has reduced by 14.76 per cent to Rs 650 crore in FY16 on a yearly basis. Its Net Profit margin has contracted by 150 basis points to 8.5 per cent in FY16 as compared to previous financial year.
On segmental revenue front, Bharat Forge has earned 88.39 per cent from Forgings segment; and remaining 11.6 per cent from Capital goods project segment during FY16.
The share price of Bharat Forge has declined by 2.83 per cent on bourses after announcement of results; and closed at Rs 749.4 on an intraday basis.
Bharat Forge manufactures a range of critical and safety components. The company has presence across approximately 10 manufacturing locations, and has its product offerings across both the automotive and the industrial sectors. Its presence in the international industrial segment extends across three verticals, namely energy (oil and gas, power across sources); transportation (aerospace, locomotive and marine); and materials (construction and mining).
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