Bharat Forge (BFL) announced its September quarter results on Thursday. The company reported a consolidated net profit of Rs 243 crore, a 13.55% rise from Rs 214 crore in the same period last year.
The company posted a consolidated revenue of Rs 3,689 crore and an EBITDA (earnings before interest, taxes, depreciation, and amortization) of Rs 690 crore. Although revenue declined by 2.3% year-on-year (YoY) due to a slowdown in the European automotive market, EBITDA grew by 10.8%, improving margins by 220 basis points to 18.7% from 16.5%.
During the quarter, BFL secured new orders worth Rs 1,207 crore across sectors, including defence, ferrous and aluminium castings, and core forging. Total order wins for the first half of FY25 reached Rs 2,216 crore, with two-thirds of the new business coming from the defence sector and the remainder from components, according to the company’s Q2 earnings report.
BFL’s defence division delivered strong results, generating Rs 509 crores in revenue for Q2, a YoY increase of 67%. New order wins in the defence segment amounted to Rs 642 crores, bringing the executable order book as of September 30 to Rs 5,905 crores, excluding potential orders from domestic and export markets.
JS Auto, one of BFL’s subsidiaries, also showed strong growth, with revenue climbing 32% YoY to Rs 165 crore and EBITDA increasing by 60% to Rs 20 crore. In H1 FY25, JS Auto secured orders worth Rs 173 crore, benefiting from a broader shift in the manufacturing supply chain toward India.
The company expects this upward trajectory in its defence and components business to continue.
In contrast, overseas operations reported sales of Rs 1,145 crore with an EBITDA of Rs 16 crore, as weak economic conditions in Europe and sluggish demand in the automotive industry continue to hinder recovery.
“Looking ahead to H2 FY25, we expect stable performance compared to H1, as we focus on revenue growth and profitability improvements across our Indian and overseas subsidiaries,” stated Chairman and Managing Director Baba Kalyani.
Team BharaShakti
