Bharat Forge Limited has informed the Exchange regarding 'Transcript of Analyst / Investor Call held on May 8, 2025'.
BHARATFORG · price
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Bharat Forge reported FY25 standalone revenue of Rs. 8,844 crores with EBITDA margin of 28.5%, expanding 100 bps YoY; consolidated revenue was Rs. 15,123 crores with EBITDA margin of 18.2%, up 180 bps. Net cash position stood at Rs. 1,336 crores and RoCE (net of cash) was 18.1%. The company secured new business worth Rs. 6,959 crores in FY25, including Rs. 5,000 crores in defense, taking the total defense order book to ~Rs. 9,500 crores with 15-20% growth guided for FY26. Management announced CCI approval for the American Axles India acquisition, expected to close by end of June 2025. JSA (casting) achieved 15%+ EBITDA margin with doubled profits, and US operations turned positive in Q4. FY26 CAPEX guided at ~Rs. 500 crores.
Margin expansion across segments, strong defense order pipeline, and US operations turning profitable signal improving fundamentals; however, US tariff uncertainty remains a key overhang, though management sees India in a neutral-to-advantageous position. The American Axles acquisition closure by June 2025 and ATAGS order execution from Q4 FY26 are near-term catalysts.