Bharat Forge Q3 results: Revenue beats estimates; Kalyani says ‘worst is behind us’

Bharat Forge reported a mixed yet resilient performance for the December quarter on February 12, with consolidated revenue and operating profit surpassing estimates, even as margins softened on a year-on-year basis.

On a consolidated basis, net profit rose 28% year-on-year to ₹272.8 crore, compared with ₹213 crore a year ago, but came in below the CNBC-TV18 poll estimate of ₹338 crore.

Revenue increased 25% to ₹4,343 crore from ₹3,476 crore in the corresponding quarter last year, ahead of the poll

estimate of ₹4,045 crore.

EBITDA grew 20.3% year-on-year to ₹750.3 crore versus ₹624 crore, higher than the poll estimate of ₹714 crore. However, EBITDA margin narrowed to 17.3% from 18% a year ago and was slightly below the poll estimate of 17.7%.

On a standalone basis, net profit declined 16.8% year-on-year to ₹288 crore from ₹346 crore. Revenue was largely flat at ₹2,084 crore compared with ₹2,096 crore in the year-ago period. EBITDA fell 7.2% to ₹566 crore from ₹609.5 crore, with margin contracting to 27.2% from 29%.

Commenting on the outlook, Chairman Baba Kalyani said, “Looking ahead into Q4 and FY27, it is fair to say the worst is behind us.” He added that both domestic and export markets are looking strong across sectors. The commencement of ATAGS execution will start in H2 FY27, he said, adding that the company expects high double-digit topline growth with a commensurate impact on profitability.

Also Read: HUL Q3 Results: Stock falls 5%, drags Nifty 50 down, after topline miss

Post earnings, shares of Bharat Forge were trading at ₹1,731.20 on the NSE as of 01:49 PM, up ₹54.80 or 3.27%, and touched an intraday high of ₹1,736.60 following the announcement.