Bharat Forge Limited has informed the Exchange about Transcript
BHARATFORG · price
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Bharat Forge reported Q3 FY26 standalone revenue of INR 2,084 crores, up 7% sequentially, with EBITDA of INR 569 crores and margin of 27.3% (including a INR 31 crore tariff impact). Consolidated revenue came in at INR 4,343 crores with EBITDA margin of 17.3%. The company secured new orders worth INR 2,388 crores in the quarter, of which defense orders accounted for INR 1,878 crores. Management guided for 30-40% growth in the defense business next year, with defense potentially rising to 20-30% of revenue in 2-3 years. JSA casting business posted strong growth (revenue +22%, EBITDA +39%), and Premji Invest picked up a 23% stake in JSA at a INR 1,300 crore valuation. North American truck revenues were sharply down 51% YoY, and the company plans to invest up to INR 3,000 crores in the group's new Odisha project. Balance sheet remains healthy with net debt-to-equity of 0.15 and long-term debt of only INR 600 crores.
The robust order pipeline, defense growth outlook, and JSA valuation unlock are positives for the stock, while the steep North American truck decline and lingering tariff drag remain near-term headwinds. Shareholders should watch Europe restructuring updates expected by fiscal year-end.