Makes steel forgings and engineered components, primarily supplying automotive and commercial vehicle OEMs in India, the US and Europe. In FY26, consolidated revenue was ₹16,811.653 crore, with the Forgings segment contributing 78.0% of segment revenue (₹13,928.582 crore), Others 12.2% (₹2,169.812 crore) and Defence 9.8% (₹1,757.172 crore). On a standalone basis, turnover was ₹8,396 crore, EU operations ₹3,865 crore, and US operations ₹1,534 crore; exports were 47.78% of standalone turnover and steel forgings made up 96.43% of standalone turnover. The Defence segment carries an order book of about ₹11,000 crore and supplies products including artillery systems (ATAGS, the MArG 155mm 4x4 gun series), the CQB carbine, marine gas turbine generators under a ₹425 crore five-year contract with the Ministry of Defence, and the Simha 4x4 light armoured multi-purpose vehicle. Aerospace is described as 26% of Q4 non-auto exports, with the company selected as the first Indian supplier for critical aerospace OEM components. The Others segment covers newer businesses including aerospace, K-mobility (via the K-Drive acquisition), JSA casting, a 30% stake in Fortuna Engineering (₹130 crore, ₹380 crore revenue) and an explosives facility coming up in Andhra Pradesh. Net new business wins in FY26 totalled ₹4,814 crore, including ₹2,816 crore in defence. The biggest cost is materials at 46.3% of revenue, with employees 12.5%, other operating expenses 24.9%, depreciation 5.8% and capex 6.8% (guided at ₹800-850 crore over 15-18 months). AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Forgings (78%), Others (12%), Defence (10%). Cyclical, asset-heavy forging and defence manufacturing with global footprint
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 10,461 | 12,910 | 15,682 | 15,123 | 16,812 |
| EBITDA (ex other income) | 2,108 | 1,722 | 2,546 | 2,537 | 2,772 |
| margin % | 20.2 | 13.3 | 16.2 | 16.8 | 16.5 |
| Owners' profit | 1,082 | 459 | 951 | 941 | 1,080 |
| EPS, as reported (₹) | 23.23 | 11.35 | 20.43 | 20.05 | 22.58 |
| ROE % · ROCE % | 16.3 · 16.6 | 7.5 · 11.5 | 12.7 · 19.1 | 9.9 · 16.5 | 11.4 · 15.8 |
| Debt / equity (x) | 0.85 | 1.02 | 1.05 | 0.68 | 0.72 |
| Cash from operations | 506 | 1,294 | 1,664 | 1,796 | 1,487 |
| Capex | (1,068) | (996) | (1,524) | (1,450) | (1,140) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,689 | 3,476 | 3,853 | 3,909 | 4,032 | 4,343 | 4,528 | 4,640 |
| Profit before tax | 386 | 349 | 426 | 414 | 458 | 411 | 393 | 56 |
| Net profit | 243 | 213 | 283 | 284 | 299 | 273 | 233 | (90) |
| EPS (₹) | 5.23 | 4.54 | 5.92 | 5.93 | 6.26 | 5.53 | 4.86 | (1.88) |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Forgings | 13,929 | 78.0 |
| Defence | 1,757 | 9.8 |
| Others | 2,170 | 12.2 |
| Total, before eliminations | 17,856 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SAMVRDHNA MTHRSN INTL LTD | 1,73,567 | 39.6 | 3.98 | 15.4 | 9.4 | 8.2 | 17.1 | 9.0 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Postal Ballot Results - Securities Issuance of Rs 25,000 Mn Approved | board shareholder meetings | low | — | — |
| 11 Sept 2026 · Postal Ballot result: Securities issuance of Rs 25,000 Mn approved | compliance | minimal | — | — |
| 10 Sept 2026 · Internal merger of German step-down subsidiary with wholly-owned subsidiary | strategic transactions | medium | — | — |
| 10 Sept 2026 · Bharat Forge publishes IEPF share transfer notice | compliance | minimal | — | — |
| 3 Sept 2026 · KSSL partners with FN Herstal for defence manufacturing JV in India | strategic transactions | high | — | — |
| 3 Sept 2026 · KSSL and Thales ally to make 70-mm rockets in India | strategic transactions | high | — | — |
| 3 Sept 2026 · Bharat Forge management to meet institutional investors in Singapore on Sept 8 | board shareholder meetings | low | — | — |
| 2 Sept 2026 · KPTL completes sale of full stake in REFU Drive GmbH joint venture | strategic transactions | high | — | — |
| 31 Aug 2026 · Newspaper ad on physical shares transfer window | compliance | minimal | — | — |
| 28 Aug 2026 · Bharat Forge Investor Presentation: INR 168Bn FY26 Revenue, INR 112Bn Defence Order Book | investor communications | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| BOSCH LIMITED |
| 1,42,736 |
| 60.4 |
| 9.61 |
| 35.1 |
| 18.7 |
| 24.1 |
| 15.6 |
| 17.9 |
| BHARAT FORGE LTD ◆ | 92,992 | 131.7 | 9.73 | 33.3 | 11.4 | 13.2 | 21.6 | 8.8 |
| UNO MINDA LIMITED | 69,386 | 57.6 | 9.56 | 31.7 | 17.7 | 15.7 | 25.3 | 10.4 |
| SCHAEFFLER INDIA LIMITED | 61,739 | 49.3 | 10.04 | — | 10.4 | 14.1 | — | 19.4 |
| TUBE INVEST OF INDIA LTD | 50,454 | 83.1 | 3.55 | 19.5 | 7.9 | 12.4 | 30.3 | 10.6 |
| SONA BLW PRECISION FRGS L | 49,016 | 70.4 | 7.99 | 42.6 | 10.3 | 12.9 | — | 25.1 |
| ENDURANCE TECHNO. LTD. | 37,964 | 39.1 | 5.55 | 18.6 | 13.9 | 15.6 | 17.4 | 13.2 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 131.7 | 26.7 | 119 of 123 | 3% |
| P/B | 9.7 | 3.5 | 109 of 116 | 6% |
| ROCE | 13.2 | 12.6 | 60 of 125 | 52% |
| ROE | 11.4 | 11.6 | 62 of 119 | 48% |
| Debt / Equity | 0.7 | 0.3 | 98 of 119 | 18% |
| EBITDA margin | 8.8 | 12.2 | 90 of 118 | 24% |
| Revenue growth | 18.7 | 20.2 | 62 of 113 | 46% |
| Profit growth | (131.7) | 24.4 | 109 of 115 | 5% |
| Market cap | 92992 | 1542 | 3 of 125 | 98% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
