Bharat Forge reported a 17% year-on-year fall in net profit to Rs 233 crore for the March-ended quarter, despite an 18% revenue growth to Rs 4,528 crore. The company recommended a final dividend of Rs 6.50 per equity share. Despite demand challenges, Bharat Forge secured significant new orders, particularly in defence.

Bharat Forge Q4 results: Cons PAT falls 17% YoY to Rs 233 crore, revenue up 18%

Synopsis

Bharat Forge reported a 17% year-on-year fall in net profit to Rs 233 crore for the March-ended quarter, despite an 18% revenue growth to Rs 4,528 crore. The company recommended a final dividend of Rs 6.50 per equity share. Despite demand challenges, Bharat Forge secured significant new orders, particularly in defence.

Bharat Forge reported a consolidated net profit at Rs 233 crore in the March-ended quarter versus Rs 283 crore in the year ago period, implying a 17% fall. The components manufacturer posted a revenue growth of 18% to Rs 4,528 crore in Q4FY26 was versus Rs 3,853 crore posted by the company in the corresponding quarter of the previous financial year.

The company's board recommended a final Dividend of Rs 6.50 per equity share for the financial year ended March 31, 2026, subject to approval by the members at the upcoming Annual General Meeting (AGM). The final dividend will be paid on or after Friday, August 14, 2026.

The profit after tax (PAT) fell 14% quarter-on-quarter compared to Rs 273 crore despite a 4% increase in the topline in the quarter under review versus Rs 4,343 crore in the October-December quarter of FY26.

The company manufactures components for automotive, railways, defence, construction, mining, aerospace, marine and oil & gas sectors.

The company highlighted demand challenges and regulatory volatility. Notwithstanding this, the company recorded consolidated revenues of Rs 16,812 crores and EBITDA of Rs 2,921 crores in FY26, implying a growth of 11.2% and 5.9% respectively.

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At a standalone level, FY26, revenues came in at Rs 8,396 crores, lower by 5.1% while EBITDA of Rs 2,312 crore was down 8.4%.

Balance sheet strength remains intact with net debt to equity at 0.18X, the company filing said.

Q4FY26 saw an 8.5% QoQ growth in standalone revenue reaching Rs 2,260 crore driven by exports recovery, while EBITDA grew by 7.2% QoQ to Rs 610 crore resulting in a margin of 27% and PBT at Rs 486 crore.

The company secured new orders worth Rs 4,814 Crores in FY26 including Rs 2,816 crores in defence. The order book for defence stood at Rs 10,961 crores as of FY26. The order wins across businesses reflect a resurgence in business momentum including in aerospace with onboarding of new customers across engine, structural and landing gear components.

Indian subsidiaries

On the Indian subsidiaries front, JS Autocast registered a topline of Rs 757 crore and EBITDA of Rs 106 crore (14.3% EBITDA margin) in FY26. K-Drive mobility is making significant progress in its effort to reorient its product portfolio with new order wins beyond M&HCVs including 4 EV platforms for LCV’s, the filing said.

The US & European operations reported modest operating profits despite weak demand. The company has initiated the restructuring of the steel business of CDP Bharat Forge and expects this process to conclude by end of CY27.

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