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Bharat Forge Limited (BHARATFORG.NS)

INR2,100.40 -19.30 (-0.91%)
IN NSE Consumer Cyclical Auto - Parts
Address Pune Cantonment 411036
Pune, IN
CEO Babasaheb Neelkanth Kalyani
IPO 1996-01-01
ISIN INE465A01025

Explore sections of this company profile

Also trades on Bombay Stock Exchange · BHARATFORG.BO (INR) National Stock Exchange of India · BHARATFORG.NS (INR)
Description

Bharat Forge Limited, founded in 1961 and headquartered in Pune, India, specializes in the production and global distribution of forged and precision-machined parts. The company's operations are organized into its Forgings and Other segments, serving both domestic Indian and international markets. Its extensive product range caters to a diverse array of industries, including the automotive sector, for which it supplies essential components like crankshafts, connecting rods, chassis elements, transmission and driveline parts, emission control systems, and fuel injection components. For energy generation, Bharat Forge manufactures parts critical for thermal, hydroelectric, and wind power installations. The oil and gas industry benefits from its subsea, surface, and drilling equipment components, while railways utilize its engine and bogie parts, turbochargers, and power electronics. Marine applications incorporate its crankshafts, rubber components, connecting rods, and propeller shafts. The aviation industry is supplied with fan blades, compressors, turbines, aero structures, and landing gear components. Furthermore, the company provides components for construction and mining operations, including track links, front spindles, machined crankshafts, and injector bodies. In the electric power-train domain, Bharat Forge delivers comprehensive powertrain solutions, systems, sub-systems, and individual parts. Beyond manufacturing, the company also offers specialized engineering design and product development expertise.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
INR2,100.40 -19.30 (-0.91%)
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Volume Profile
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Liquidity & share structure
Average Volume
1M
Beta
0.54
Float Shares
256.68M
Free Float %
53.7%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-3.59% +1.50% +6.50% +10.95% +37.90% +30.28% +59.75% +152.88% +188.23% +394.76% +28,030.69%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
2,100.40
DCF (Unlevered) 751.18 -64.2%
DCF (Levered) 558.29 -73.4%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 43% Bullish
Rating 2026-05 Change
Strong Buy 4 0
Buy 6 0
Hold 6 0
Sell 5 0
Strong Sell 2 0
Quality scores
Altman Z-Score
5.61
Safe zone
Piotroski F-Score
5 / 9
Average
MOAT Score
6 / 10
Developing
Composite Rating
D+
Overall Score
1 / 5
Low
DCF Score
1 / 5
Low
ROE Score
1 / 5
Low
ROA Score
1 / 5
Low
D/E Score
1 / 5
Low
P/E Score
1 / 5
Low
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
  • Revenue growth Auto - Parts: +7.8%
    +11.2% Q1'26: +17.5% (vs Q1'25)
  • EPS growth Auto - Parts: +18.0%
    +12.2% Q1'26: -17.9% (vs Q1'25)
  • FCF margin FCF growth · Auto - Parts: +53.1%
    +1.1% Q1'26: +9.6% (vs Q1'25)
  • EBIT margin Auto - Parts: +7.5%
    +11.8% Q1'26: +10.5% (vs Q1'25)
  • ROIC Auto - Parts: +6.4%
    +8.9% Q1'26: +7.8% (vs Q1'25)
  • Share dilution Auto - Parts: +0.0%
    +2.2% Q1'26: +0.5% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Auto - Parts: 0.27×
    2.47× Q1'26: 2.50× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.56) × ERP
WACC = 93% × Ke + 7% × Kd (4.4%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 751.45 Current price: 2,100.40
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Mar 2011
actual
Mar 2012
actual
Mar 2013
actual
Mar 2014
actual
Mar 2015
actual
Mar 2016
actual
Mar 2017
actual
Mar 2018
actual
Mar 2019
actual
Mar 2020
actual
Mar 2021
actual
Mar 2022
actual
Mar 2023
actual
Mar 2024
actual
Mar 2025
actual
Mar 2026
21 Rev. Ana.
22 EPS Ana.
Mar 2027
16 Rev. Ana.
18 EPS Ana.
Mar 2028
20 Rev. Ana.
21 EPS Ana.
Mar 2029
11 Rev. Ana.
9 EPS Ana.
Mar 2030
11 Rev. Ana.
9 EPS Ana.
Revenue
49.69B
est: 47.59B (+4.4%)
61.46B
est: 62.54B (-1.7%)
51.67B
est: 58.70B (-12.0%)
76.22B
est: 63.73B (+19.6%)
76.22B
est: 74.82B (+1.9%)
68.09B
est: 75.22B (-9.5%)
63.96B
est: 70.54B (-9.3%)
83.58B
est: 79.81B (+4.7%)
101.46B
est: 97.89B (+3.6%)
80.56B
est: 82.00B (-1.8%)
63.36B
est: 61.12B (+3.7%)
104.61B
est: 93.08B (+12.4%)
129.10B
est: 126.81B (+1.8%)
156.82B
est: 156.06B (+0.5%)
151.23B
est: 154.81B (-2.3%)
164.74B
152.67B – 191.56B
+6.4% YoY
195.83B
189.22B – 205.21B
+18.9% YoY
223.43B
205.42B – 258.76B
+14.1% YoY
247.56B
233.06B – 273.86B
+10.8% YoY
267.84B
252.15B – 296.30B
+8.2% YoY
EBITDA
8.45B
est: 976.17M (+765.6%)
10.85B
est: 7.09B (+53.1%)
8.30B
est: 7.17B (+15.7%)
15.03B
est: 7.12B (+111.1%)
14.86B
est: 11.35B (+31.0%)
14.44B
est: 14.12B (+2.3%)
12.68B
est: 12.52B (+1.2%)
17.72B
est: 15.44B (+14.8%)
20.24B
est: 19.83B (+2.0%)
11.02B
est: 18.01B (-38.8%)
7.71B
est: 6.70B (+14.9%)
19.01B
est: 8.36B (+127.5%)
17.29B
est: 10.88B (+58.8%)
25.00B
est: 13.21B (+89.2%)
26.46B
est: 30.25B (-12.5%)
31.38B
29.08B – 36.49B
+3.7% YoY
37.30B
36.04B – 39.09B
+18.9% YoY
42.56B
39.13B – 49.29B
+14.1% YoY
47.16B
44.40B – 52.17B
+10.8% YoY
51.02B
48.03B – 56.44B
+8.2% YoY
EBIT
5.90B
est: 234.58M (+2,414.8%)
7.84B
est: 6.64B (+18.0%)
5.10B
est: 6.53B (-21.9%)
11.51B
est: 5.17B (+122.5%)
11.35B
est: 8.96B (+26.7%)
10.03B
est: 11.68B (-14.1%)
8.24B
est: 9.08B (-9.2%)
13.19B
est: 10.80B (+22.1%)
15.19B
est: 14.97B (+1.5%)
5.95B
est: 12.80B (-53.5%)
2.07B
est: 4.06B (-48.9%)
12.33B
est: 5.06B (+143.5%)
10.48B
est: 6.59B (+58.9%)
17.25B
est: 8.01B (+115.4%)
18.48B
est: 22.05B (-16.2%)
22.88B
21.20B – 26.60B
+3.7% YoY
27.20B
26.28B – 28.50B
+18.9% YoY
31.03B
28.53B – 35.94B
+14.1% YoY
34.38B
32.37B – 38.03B
+10.8% YoY
37.20B
35.02B – 41.15B
+8.2% YoY
Net Income
2.90B
est: -799.60M (+462.9%)
4.13B
est: 3.69B (+12.1%)
3.05B
est: 3.89B (-21.7%)
7.63B
est: 2.73B (+179.8%)
7.63B
est: 5.77B (+32.1%)
6.78B
est: 7.71B (-12.0%)
7.05B
est: 6.19B (+13.8%)
7.62B
est: 8.01B (-4.8%)
10.32B
est: 9.38B (+10.1%)
3.50B
est: 8.72B (-59.9%)
-1.26B
est: 2.72B (-146.5%)
10.82B
est: 3.39B (+219.3%)
5.28B
est: 4.41B (+19.7%)
9.51B
est: 5.36B (+77.5%)
9.41B
est: 11.43B (-17.7%)
13.04B
12.86B – 14.10B
+14.0% YoY
17.49B
16.45B – 18.39B
+34.2% YoY
21.96B
18.36B – 26.39B
+25.5% YoY
28.13B
25.99B – 32.01B
+28.1% YoY
35.08B
32.41B – 39.92B
+24.7% YoY
SGA
1.98B
est: 9.83B (-79.8%)
2.41B
est: 12.54B (-80.8%)
9.10B
est: 12.73B (-28.5%)
9.30B
est: 15.25B (-39.0%)
9.30B
est: 17.18B (-45.9%)
9.38B
est: 16.91B (-44.5%)
9.56B
est: 15.39B (-37.9%)
11.17B
est: 18.24B (-38.7%)
12.83B
est: 24.13B (-46.8%)
12.07B
est: 19.53B (-38.2%)
11.32B
est: 15.92B (-28.9%)
15.06B
est: 19.84B (-24.1%)
15.84B
est: 25.84B (-38.7%)
18.77B
est: 31.38B (-40.2%)
18.98B
est: 16.26B (+16.8%)
16.87B
15.63B – 19.61B
+3.7% YoY
20.05B
19.37B – 21.01B
+18.9% YoY
22.88B
21.03B – 26.49B
+14.1% YoY
25.35B
23.86B – 28.04B
+10.8% YoY
27.42B
25.82B – 30.34B
+8.2% YoY
EPS
6.25
est: 6.11 (+2.4%)
8.87
est: 9.19 (-3.4%)
6.54
est: 5.80 (+12.7%)
16.46
est: 9.00 (+82.9%)
16.46
est: 16.16 (+1.8%)
14.01
est: 16.02 (-12.6%)
14.85
est: 13.07 (+13.6%)
16.38
est: 19.39 (-15.5%)
22.17
est: 23.40 (-5.3%)
7.51
est: 12.24 (-38.6%)
-2.71
est: 2.91 (-193.1%)
23.23
est: 21.62 (+7.5%)
11.35
est: 15.46 (-26.6%)
20.43
est: 23.33 (-12.4%)
20.05
est: 25.58 (-21.6%)
27.17
26.80 – 29.39
+6.2% YoY
36.45
34.28 – 38.33
+34.2% YoY
45.77
38.27 – 55.00
+25.5% YoY
58.62
54.15 – 66.71
+28.1% YoY
73.10
67.53 – 83.20
+24.7% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-08 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-05-07 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-05-06 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-05-05 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-05-04 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-30 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-29 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-28 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-27 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-24 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-23 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-22 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-21 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-20 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-17 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5
2026-04-16 D+ 1/5 1/5 1/5 1/5 1/5 1/5 1/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
1.22B
OE per share TTM
2.45
Owner's Yield
0.13%
Maintenance CapEx ratio
123.49%
Maint CapEx / Avg PPE
57.0%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 22 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 Vanguard Emerging Markets Ex-China ETF VEXC 0.07% 157.5K 0.07%
2 Desjardins RI Emerging Markets Multifactor - Net-Zero Emissions Pathway ETF DRFE.TO 0.06% 154.0K 0.65%
3 Schwab Emerging Markets Equity ETF SCHE 0.05% 6.85M 0.06%
4 Vanguard FTSE Emerging Markets UCITS ETF (USD) Accumulating VFEA.L 0.05% 2.88M 0.17%
5 Vanguard FTSE Emerging Markets UCITS ETF (USD) Distributing VDEM.L 0.05% 2.88M 0.17%
6 Vanguard FTSE Emerging Markets Shares ETF VGE.AX 0.05% 631.4K 0.48%
7 Vanguard FTSE Emerging Markets All Cap Index ETF VEE.TO 0.05% 1.42M 0.26%
8 Vanguard FTSE Asia ex Japan Shares Index ETF VAE.AX 0.04% 266.5K 0.40%
9 Vanguard FTSE Emerging Markets ETF VWO 0.04% 70.29M 0.06%
10 Vanguard All-World ex-US Shares Index ETF VEU.AX 0.01% 569.1K 0.04%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
5.27M
Shares Outstanding
478.09M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Babasaheb Neelkanth Kalyani Chairman & MD 257M
Amit Babasaheb Kalyani Joint MD & Vice Chairman 99M male
Basavraj Prabhakar Kalyani Executive Director 52M male
Subodh E. Tandale Executive Director 52M male
Tejaswini R. Chaudhari Compliance Officer & Company Secretary 4M female
Yogesh Zope Chief Information Officer male
Kedar Dixit Senior Vice President & Chief Financial Officer male
Laxmiprasad Jahagirdar President & Chief Operating Officer of Manufacturing Operations male
S. Rajhagopalan Vice President of Investor Relations male
Srinivasu Malladi Vice President of Human Resources & Industrial Relations male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits