Bharat Forge Ltd.

NSE: BHARATFORG · Automobile and Auto Components

₹1,740.00-0.74%06 Nov 2026

Ask the data

Instant answers about Bharat Forge Ltd. — computed from its filings, no language model

Market cap₹85,036 cr

Current price₹1,740.00

High / Low₹2,265 / ₹1,317

P/E124.5

P/B7.39

Book value₹235.4

ROE5.9%

ROCE8.6%

Debt / equity0.64

Dividend yield0.45%

EPS (TTM)₹13.97

Face value₹2

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

showing latest 6 of 7 periods

	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	8,056	6,336	10,461	12,910	15,682	15,123	16,812
EBITDA	1,115	862	2,016	1,768	2,558	2,694	2,927
Operating margin	13.8%	13.6%	19.3%	13.7%	16.3%	17.8%	17.4%
Interest	171	108	160	299	491	417	323
Depreciation	548	612	730	736	848	874	971
Profit before tax	505	5	1,414	860	1,434	1,460	1,677
Tax	112	102	303	319	529	543	578
Net profit	350	196	1,082	459	951	941	1,080
EPS ₹	7.51	-2.71	23.23	11.35	20.43	20.05	22.58
Operating cash flow	—	—	506	1,294	1,664	1,796	1,487
Capex	—	—	1,068	996	1,524	1,450	1,140
Dividend paid	—	—	164	325	380	422	380
Total assets	11,563	13,178	15,609	18,384	19,349	20,088	22,260
Equity	5,220	5,415	6,571	6,706	7,170	9,221	9,557

Quarterly performance

last 29 quarters · ₹ crore

showing latest 8 of 29 periods

	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
Revenue	2,328	2,155	1,831	1,742	1,154	1,376	1,723	2,083	2,108	2,386	3,573	2,851	3,076	3,353	3,629	3,877	3,774	3,866	4,164	4,106	3,689	3,476	3,853	3,909	4,032	4,343	4,528	4,640	4,870
Operating profit	410	334	222	148	-14	166	284	426	450	510	554	428	432	469	438	595	621	698	643	741	647	624	681	673	726	750	778	709	768
Operating margin	17.6%	15.5%	12.1%	8.5%	-1.2%	12.1%	16.5%	20.4%	21.4%	21.4%	15.5%	15.0%	14.0%	14.0%	12.1%	15.4%	16.5%	18.0%	15.4%	18.0%	17.5%	18.0%	17.7%	17.2%	18.0%	17.3%	17.2%	15.3%	15.8%
Other income	45	52	37	54	45	33	38	52	41	38	83	33	46	37	58	64	52	56	55	52	62	38	62	50	54	42	53	57	48
Interest	46	37	43	46	37	14	34	23	50	23	63	40	53	109	97	114	124	137	116	124	110	96	88	82	80	77	84	90	97
Depreciation	138	134	130	146	139	152	161	161	167	174	214	181	188	186	181	206	211	224	207	218	213	218	224	226	241	249	255	263	270
Profit before tax	272	216	59	-41	-144	27	-172	294	213	351	347	237	235	211	177	339	336	393	365	299	386	349	426	414	458	411	393	56	424
Tax	94	3	9	6	-19	29	34	57	51	70	105	74	93	102	49	128	122	141	139	125	142	134	141	127	158	134	159	134	139
Net profit	173	205	40	-72	-126	-1	-210	285	124	381	236	119	146	82	251	223	227	265	236	203	244	213	282	284	299	264	233	-90	276
EPS ₹	3.72	4.44	0.90	-1.55	-2.70	0.00	4.49	4.48	3.30	5.82	5.06	3.53	3.13	1.78	2.91	4.80	4.88	5.68	5.07	4.36	5.23	4.54	5.92	5.93	6.26	5.53	4.86	-1.88	5.77
Revenue YoY	—	—	—	—	-50.4%	-36.2%	-5.9%	19.6%	82.6%	73.4%	71.5%	35.3%	29.0%	—	1.6%	36.0%	22.7%	15.3%	14.7%	5.9%	-2.3%	-10.1%	-7.5%	-4.8%	9.3%	25.0%	17.5%	18.7%	20.8%
Profit YoY	—	—	—	—	-172.7%	-100.6%	-620.4%	—	—	—	-17.2%	-4.1%	-61.7%	—	6.3%	87.7%	55.7%	220.7%	-5.9%	-9.2%	7.2%	-19.6%	19.5%	39.9%	22.8%	24.2%	-17.5%	-131.6%	-7.8%

Earlier results (standalone, Sep '07 – Mar '19)

₹ crore · from BSE, before the NSE XBRL filings begin

Bharat Forge Ltd. reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

showing latest 8 of 11 periods

	FY09†	FY10†	FY11†	FY12†	FY13†	FY14†	FY15†	FY16†	FY17†	FY18†	FY19†
Revenue	2,058	1,856	2,947	3,686	3,151	3,399	4,548	4,305	4,066	5,373	6,520
Operating profit	445	437	720	907	714	864	1,330	1,283	1,073	1,537	1,906
Operating margin	21.6%	23.5%	24.4%	24.6%	22.6%	25.4%	29.2%	29.8%	26.4%	28.6%	29.2%
Other income	49	32	46	53	94	115	93	100	99	119	166
Interest	100	103	121	128	153	150	112	86	73	85	102
Depreciation	149	164	193	215	224	245	251	261	295	307	347
Profit before tax	158	181	448	547	440	596	1,057	1,031	842	1,131	1,623
Tax	54	54	137	185	135	196	338	330	257	423	552
Net profit	103	127	311	362	306	400	719	701	585	707	1,071

Quarters

showing latest 8 of 47 periods

	SEP '07†	DEC '07†	MAR '08†	JUN '08†	SEP '08†	DEC '08†	MAR '09†	JUN '09†	SEP '09†	DEC '09†	MAR '10†	JUN '10†	SEP '10†	DEC '10†	MAR '11†	JUN '11†	SEP '11†	DEC '11†	MAR '12†	JUN '12†	SEP '12†	DEC '12†	MAR '13†	JUN '13†	SEP '13†	DEC '13†	MAR '14†	JUN '14†	SEP '14†	DEC '14†	MAR '15†	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†	MAR '18†	JUN '18†	SEP '18†	DEC '18†	MAR '19†
Revenue	563	557	580	637	676	453	292	359	428	508	562	630	719	777	822	858	910	941	977	936	868	673	675	792	845	832	931	988	1,138	1,198	1,224	1,129	1,117	1,052	1,008	957	936	990	1,183	1,258	1,258	1,391	1,467	1,480	1,679	1,693	1,669
Operating profit	138	136	144	156	158	89	43	75	102	119	141	159	174	189	199	208	215	232	251	235	194	142	142	196	223	214	230	283	325	362	360	346	321	317	298	244	248	261	320	333	369	416	418	429	434	526	517
Operating margin	24.6%	24.5%	24.8%	24.5%	23.3%	19.6%	14.6%	20.9%	24.0%	23.4%	25.0%	25.2%	24.2%	24.3%	24.2%	24.3%	23.7%	24.7%	25.7%	25.1%	22.4%	21.2%	21.0%	24.8%	26.4%	25.8%	24.8%	28.7%	28.5%	30.2%	29.4%	30.7%	28.8%	30.2%	29.6%	25.5%	26.5%	26.3%	27.0%	26.5%	29.4%	29.9%	28.5%	29.0%	25.9%	31.1%	31.0%
Other income	25	16	-3	12	10	11	15	5	6	9	12	10	9	13	15	15	21	3	14	28	26	19	21	35	21	25	33	24	30	19	20	29	25	23	22	26	31	21	22	26	37	22	34	34	34	48	50
Interest	27	29	25	20	24	28	29	25	25	27	26	30	32	30	29	30	31	32	34	55	29	36	33	35	39	40	35	32	31	26	22	21	22	23	20	17	19	18	19	19	22	14	30	25	32	14	31
Depreciation	35	35	36	38	39	42	31	38	41	41	44	47	49	50	48	52	54	56	54	57	55	57	55	61	63	62	60	66	66	69	50	64	65	67	64	74	73	74	74	77	78	81	71	82	91	91	82
Profit before tax	101	87	110	41	18	2	96	1	40	58	82	88	102	121	137	141	151	147	107	152	146	68	74	135	142	138	181	210	253	286	308	289	259	246	236	179	187	189	287	263	306	343	218	355	345	469	454
Tax	33	29	27	15	7	-2	35	0	13	20	20	28	34	39	36	44	45	44	52	47	43	21	24	44	46	44	62	65	78	90	105	94	84	80	72	57	60	61	80	88	103	115	118	121	117	160	154
Net profit	68	58	83	27	11	4	61	1	27	38	61	59	68	83	100	97	106	103	55	105	103	48	50	91	96	94	119	145	174	196	203	195	175	166	165	122	127	129	208	175	204	228	100	234	227	310	300
EPS ₹	3.03	2.60	3.72	1.19	0.49	0.20	2.63	0.04	1.21	1.70	2.76	2.59	2.93	3.55	4.32	4.18	4.46	4.43	2.37	4.51	4.41	2.05	2.15	3.89	4.14	4.04	5.11	6.23	7.49	8.43	8.73	8.39	7.52	7.13	7.07	5.24	5.45	5.52	8.91	7.52	4.37	4.90	2.16	5.04	4.88	6.65	6.43
Revenue YoY	—	—	—	—	19.9%	-18.6%	-49.7%	-43.7%	-36.7%	12.1%	92.9%	75.7%	68.1%	53.0%	46.1%	36.1%	26.6%	21.1%	18.9%	9.2%	-4.7%	-28.5%	-31.0%	-15.5%	-2.6%	23.7%	37.9%	24.8%	34.7%	43.9%	31.5%	14.2%	-1.9%	-12.2%	-17.6%	-15.2%	-16.2%	-5.9%	17.4%	31.4%	34.4%	40.5%	24.0%	17.6%	33.5%	21.7%	13.8%
Profit YoY	—	—	—	—	-83.4%	-92.5%	-26.2%	-96.4%	138.5%	773.3%	0.2%	6090.6%	154.0%	117.5%	63.9%	63.9%	56.1%	24.8%	-45.1%	8.0%	-3.4%	-53.9%	-9.1%	-13.9%	-6.2%	97.7%	137.6%	60.0%	81.0%	108.9%	70.8%	34.7%	0.3%	-15.4%	-19.0%	-37.5%	-27.5%	-22.6%	26.1%	43.4%	60.5%	77.4%	-51.6%	33.9%	11.7%	35.8%	198.5%

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 23 periods

	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
ROE	6.6%	0.9%	-3.0%	-7.8%	-1.0%	3.6%	10.7%	8.9%	8.9%	10.5%	11.2%	13.8%	13.3%	13.0%	13.0%	12.3%	10.2%	11.1%	11.5%	12.1%	11.3%	7.4%	5.9%
ROCE	7.4%	2.8%	0.4%	-2.2%	1.1%	4.6%	7.8%	10.1%	8.5%	9.9%	10.7%	12.2%	13.1%	12.9%	13.2%	12.6%	12.1%	12.6%	12.8%	13.1%	12.2%	10.0%	8.6%
Net margin	4.3%	0.7%	-2.6%	-6.8%	-0.8%	2.7%	7.0%	4.5%	4.6%	5.0%	5.4%	6.4%	6.1%	5.8%	6.0%	5.8%	6.2%	6.8%	7.1%	7.0%	6.4%	4.0%	3.7%
EBITDA margin	13.8%	10.0%	8.6%	9.7%	13.6%	18.2%	20.1%	14.6%	13.7%	13.9%	14.5%	15.5%	16.3%	17.0%	17.2%	17.2%	17.8%	17.6%	17.7%	17.5%	17.4%	16.9%	16.3%
Debt / equity	0.74	0.74	0.74	0.74	0.92	0.92	0.92	0.94	1.02	1.02	1.01	1.01	1.05	1.05	1.00	1.00	0.68	0.68	0.66	0.66	0.72	0.72	0.64
Interest coverage	3.95	1.55	0.29	-1.52	1.04	3.99	6.28	4.90	3.88	3.58	3.39	3.63	3.92	3.79	3.97	4.14	4.50	5.19	5.76	6.23	6.19	4.98	4.69
Asset turnover	0.70	0.60	0.53	0.52	0.48	0.55	0.63	0.78	0.70	0.76	0.77	0.80	0.81	0.82	0.83	0.81	0.75	0.74	0.74	0.78	0.76	0.79	0.73

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 17 periods

	MAR '15‡	MAR '16‡	MAR '17‡	MAR '18‡	MAR '19‡	MAR '20‡	MAR '21‡	MAR '22‡	SEP '22	MAR '23	SEP '23	MAR '24	SEP '24	MAR '25	SEP '25	MAR '26	SEP '26
Share capital	47	47	47	93	93	93	93	93	93	93	93	93	93	96	96	96	98
Other equity / reserves	3,398	3,367	4,070	4,559	5,283	5,127	5,322	6,478	6,465	6,612	6,919	7,077	7,184	9,125	9,265	9,461	11,408
Total equity	3,444	3,413	4,116	4,652	5,376	5,220	5,415	6,571	6,559	6,706	7,012	7,170	7,277	9,221	9,360	9,557	11,506
Borrowings	2,365	2,943	2,321	2,711	3,773	3,878	4,995	5,655	6,195	6,852	7,075	7,522	7,312	6,288	6,209	6,875	7,391
Current liabilities	2,467	2,869	3,206	3,754	4,109	3,967	4,518	6,114	6,895	8,277	9,549	9,280	9,025	8,703	9,125	9,581	10,582
Non-current liabilities	2,325	2,014	1,551	1,581	2,128	2,344	3,213	2,868	2,894	3,366	2,404	2,904	2,724	2,165	2,275	3,122	3,191
Total assets	8,236	8,292	8,883	10,016	11,642	11,563	13,178	15,609	16,395	18,384	18,979	19,349	18,993	20,088	20,728	22,260	25,259
Property, plant & equipment	2,560	3,078	3,221	3,439	3,561	3,806	4,414	4,396	4,768	5,272	5,380	5,468	5,328	5,847	6,258	7,258	7,401
Capital work-in-progress	859	392	400	344	831	1,143	900	1,125	1,045	696	716	977	1,806	1,725	1,880	1,251	1,343
Investments	496	885	1,192	1,501	1,524	1,618	2,607	2,604	2,017	2,569	2,368	1,849	1,699	2,063	1,731	1,738	1,416
Inventories	1,034	997	1,075	1,360	1,845	1,735	1,794	2,710	3,088	3,126	3,328	3,216	3,511	3,578	4,011	4,053	4,693
Receivables	853	1,404	1,342	1,961	2,148	1,494	1,420	2,174	2,498	3,099	3,204	3,177	2,806	2,913	3,106	3,927	4,078
Cash & equivalents	682	—	288	235	286	313	447	558	516	509	731	1,315	838	621	778	848	2,679

Cash flow

annual · ₹ crore · line = free cash flow

showing latest 5 of 12 periods

	FY15‡	FY16‡	FY17‡	FY18‡	FY19‡	FY20‡	FY21‡	FY22	FY23	FY24	FY25	FY26
Cash from operations	1,035	1,356	1,052	967	911	1,522	1,020	506	1,294	1,664	1,796	1,487
Cash from investing	-467	-927	-684	-814	-1,175	-1,132	-1,511	-690	-1,671	-667	-1,964	-1,033
Cash from financing	-360	-448	-401	-314	368	-381	578	310	280	-203	-570	-442
Capex	717	897	655	585	1,177	962	914	1,068	996	1,524	1,450	1,140
Free cash flow	317	459	396	382	-266	560	106	-562	298	140	346	346
Dividends paid	—	322	84	252	281	334	0	164	325	380	422	380

Where the assets sit

Sep '26 · ₹ crore

Fixed assets (PPE)

₹7,401 cr29%

CWIP

₹1,343 cr5%

Investments

₹1,416 cr6%

Inventories

₹4,693 cr19%

Receivables

₹4,078 cr16%

Cash & equivalents

₹2,679 cr11%

Other assets

₹3,650 cr14%

Peer comparison

largest in Automobile and Auto Components · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
Maruti Suzuki India Ltd.	4,00,860	12,750.00	29.8	3.68	12.3%
Mahindra & Mahindra Ltd.	3,67,588	3,287.20	19.0	3.75	19.8%
Bajaj Auto Ltd.	2,99,543	10,900.00	22.9	8.18	35.7%
TVS Motor Company Ltd.	2,13,401	4,491.70	55.8	18.81	33.7%
Eicher Motors Ltd.	2,10,528	7,669.50	36.5	8.39	23.0%
Hyundai Motor India Ltd.	1,73,071	2,130.00	51.8	8.49	16.4%
Samvardhana Motherson International Ltd.	1,67,340	158.55	35.4	3.69	10.4%
Bosch Ltd.	1,49,565	50,700.00	56.5	19.51	34.6%
Hero MotoCorp Ltd.	1,10,343	5,513.00	18.4	4.71	25.6%
Tata Motors Passenger Vehicles Ltd.	1,07,602	292.00	1.4	0.96	70.7%
Bharat Forge Ltd.	85,036	1,740.00	124.5	7.39	5.9%

StoxGud checklist: Bearish setup · 3/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month-5.5%

6 months-12.7%

1 year+31.6%

3Y CAGR+17.4%

5Y CAGR+16.4%

10Y CAGR+15.0%

50-day avg₹1,886.71

200-day avg₹1,891.74

RSI (14)38

Compare Bharat Forge Ltd. with

Hero MotoCorp vs Bharat Forge Tata Motors Passenger Vehicles vs Bharat Forge Bharat Forge vs UNO Minda Bharat Forge vs Ather Energy

FAQs

What is the share price of Bharat Forge Ltd.?

Bharat Forge Ltd. (BHARATFORG) closed at ₹1,740.00 on NSE on 06 Nov 2026.

What is the market cap of Bharat Forge Ltd.?

₹85,036 crore at the latest close.

What is the P/E ratio of Bharat Forge Ltd.?

124.5, on trailing-twelve-month earnings from its filings.

How fast is Bharat Forge Ltd. growing?

Bharat Forge Ltd.: revenue has compounded at 9.2% a year over three years; net profit at 33.0% a year. Latest-quarter revenue is up 20.8% year on year, profit down 7.8%.

How profitable is Bharat Forge Ltd.?

On a trailing-twelve-month basis return on equity is 5.9%, return on capital employed 8.6%, operating margin 16.3%, net margin 3.7%.

How much debt does Bharat Forge Ltd. have?

Bharat Forge Ltd. is moderately geared: debt to equity is 0.64 with borrowings of ₹7,391 cr against cash of ₹2,679 cr (balance sheet of 2026-09-30). Operating profit covers interest 4.7 times.

Financials parsed from Bharat Forge Ltd.'s own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from JUN '19, annual from FY20, balance sheet from Mar '15. * = derived (full year or half year minus earlier quarters). ‡ = balance sheet / cash flow read from the company's published annual report (same basis), for years before the NSE filings carry them; each one checked to add up. Information only, not investment advice.