The call ran from 2:59 PM to 3:34 PM IST (35 min).
Key takeaways
Record standalone revenue ₹2,526 Cr (+30% YoY), but consolidated EBITDA up only 9%. US loss-making, Europe at 3% margin; H2 recovery hinges on cost pass-through.
| Revenue growth | Standalone +30% YoY to ₹2,526 Cr; consolidated +21% to ₹4,870 Cr. |
|---|---|
| Margins | Standalone EBITDA margin 25.9%; consolidated ~16%; Europe 3.1%, US negative. |
| Order book | Defence unexecuted order book ₹10,950 Cr (Sep); ₹2,100 Cr new orders H1. |
| Demand visibility | Truck demand (India and US) stable; customers booking capacity 18-20 months. |
| Management confidence | Confident; H2-stronger outlook, though cost recovery lag acknowledged. |
Growth
Consolidated revenue +21% vs EBITDA +9%; ₹20 Cr exceptional item flagged; JSA/K-Drive quarterly run-rate up ~50% since acquisition.
Outlook
H2 stronger than H1 (unquantified); India manufacturing >₹5,000 Cr/quarter, +200-250bps margin, by end of next year; defence margins 20-25%.
Risks
Input inflation (freight, energy, steel) with recovery lag; US steel breakdowns; ATAGS delayed; CQB clearance pending.
Summary by ALFA Finder, written with AI assistance from the earnings call transcript the company filed, published . Open it on ALFA Filings ›
The results behind this call
Bharat Forge Q2 FY27 Results: Net Profit ₹278.7 Cr, Down 6.9% YoY
Bharat Forge Ltd reported revenue from operations of ₹4,870 Cr (+20.8% YoY) and net profit of ₹278.7 Cr (-6.9% YoY) for Q2 FY27.
- Key figure
- Net profit ₹278.7 Cr · -6.9% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
Defense and Aerospace expected to ramp up significantly by FY27/FY28 with new order executions.
Growth they described
Standalone revenue fell 7.5% QoQ; Defense orders reached 11,000 Cr, becoming a primary growth engine.
Call details
| Company | Bharat Forge Ltd |
|---|---|
| NSE symbol | BHARATFORG |
| ISIN | INE465A01025 |
| Call | Q2 FY27 earnings call |
| Date | Thursday, 5 November 2026 |
| Time | 3:00 PM IST |
| Length | 35 min |
Bharat Forge Ltd: key numbers
- Share price
- ₹1,740.00
- Market cap
- ₹85,029 Cr
- Revenue (annual)
- ₹16,812 Cr
- Net profit (annual)
- ₹1,080 Cr
- P/E (TTM)
- 119.5×Sector 50.0×
- Promoter holding
- 43.12%-0.95% QoQ
- FII holding
- 15.20%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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