Bharat Forge's top line shrinks in Q2FY17
DSIJ Intelligence / 08 Nov 2016
Bharat Forge has declared its Q2FY17 results. The company’s revenue has declined 2.2 per cent to Rs 936 crore in Q2FY17 on a yearly basis.
Bharat Forge has declared its Q2FY17 results. The company’s revenue has declined 2.2 per cent to Rs 936 crore in Q2FY17 on a yearly basis. Bharat Forge’s shipment tonnage has reduced 5.9 per cent to Rs 4620 crore in Q2FY17 as compared to same period in previous financial year. Its EBITDA has decreased by 0.2 per cent to Rs 253 crore in Q2FY17 as compared to same period in previous fiscal. Bharat Forge’s EBITDA margin has expanded by 50 basis points to 27 per cent in Q2FY17 on a yearly basis. The company’s PAT has increased by 3.8 per cent to Rs 127 crore in Q2FY17 as compared to same period in previous financial year.
On the segmental revenue front, Bharat Forge has earned 49.77 per cent from domestic; and 50.23 per cent from export in Q2FY17.
Bharat Forge's board of directors has approved divestment of stake in Power Equipment JV with Alstom for USD 3.5 crore (Rs 233 crore). The company has formed JV with Alstom for manufacturing facility in Sanand to address expansion of Indian Power sector.
The share price of Bharat Forge has declined by 1.87 per cent on bourses in early trades; and is trading at Rs 845.6 on an intraday basis.
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