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Last Updated on: 11 March, 2025
Author: Getaka|Social: Getaka Financial Technology X (Earlier Twitter) Profile Getaka Financial Technology LinkedIn Logo
Stock Ticker - BSE: 500493 | NSE: BHARATFORG

Bharat Forge Ltd: Share Price Analysis, Intrinsic Value & Fundamentals (2025)

Share Price and Basic Stock Data

Last Updated: March 9, 2025, 8:15 pm

Market Cap 52,006 Cr.
Current Price 1,088
High / Low 1,826/1,002
Stock P/E54.7
Book Value 152
Dividend Yield0.83 %
ROCE12.9 %
ROE12.7 %
Face Value 2.00
PEG Ratio0.63

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Bharat Forge Ltd

Competitors of Bharat Forge Ltd

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Happy Forgings Ltd 7,633 Cr. 810 1,300/78828.7 1820.49 %22.7 %18.7 % 2.00
EL Forge Ltd 47.5 Cr. 23.4 44.4/9.2419.4 11.60.00 %%% 10.0
CIE Automotive India Ltd 15,144 Cr. 399 628/37018.5 1731.25 %16.6 %13.1 % 10.0
Amforge Industries Ltd 12.1 Cr. 8.39 15.5/8.00 8.930.00 %3.55 %3.17 % 2.00
Tirupati Forge Ltd 395 Cr. 38.1 72.9/14.046.6 5.320.00 %18.3 %15.0 % 2.00
Industry Average10,066.33 Cr297.26140.29147.850.32%11.36%12.82%5.86

All Competitor Stocks of Bharat Forge Ltd

Quarterly Result

MetricDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024
Sales 2,3953,5732,8513,0763,3533,6293,8773,7743,8664,1644,1063,6893,476
Expenses 1,8953,0302,4262,6452,9143,1913,2823,1533,1693,5213,3653,0422,853
Operating Profit 499543425432439438595621698643741647623
OPM % 21%15%15%14%13%12%15%16%18%15%18%18%18%
Other Income 201703044371767515845-996238
Interest 246340531099711412413711612411096
Depreciation 176214181188186181206211224207218213218
Profit before tax 500337235235181177341337395366300385347
Tax % 16%31%32%40%56%28%37%36%36%38%42%37%39%
Net Profit 42223216014279128214215254227175243213
EPS in Rs 9.055.063.533.131.772.914.804.885.685.074.365.234.45

Last Updated: March 3, 2025, 5:15 pm

Below is a detailed analysis of the quarterly data for Bharat Forge Ltd based on the most recent figures (Dec 2024) and their trends compared to the previous period:

  • For Sales, as of Dec 2024, the value is ₹3,476.00 Cr.. The value appears to be declining and may need further review. It has decreased from 3,689.00 Cr. (Sep 2024) to ₹3,476.00 Cr., marking a decrease of 213.00 Cr..
  • For Expenses, as of Dec 2024, the value is ₹2,853.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 3,042.00 Cr. (Sep 2024) to ₹2,853.00 Cr., marking a decrease of 189.00 Cr..
  • For Operating Profit, as of Dec 2024, the value is ₹623.00 Cr.. The value appears to be declining and may need further review. It has decreased from 647.00 Cr. (Sep 2024) to ₹623.00 Cr., marking a decrease of 24.00 Cr..
  • For OPM %, as of Dec 2024, the value is 18.00%. The value remains steady. There is no change compared to the previous period (Sep 2024) which recorded 18.00%.
  • For Other Income, as of Dec 2024, the value is ₹38.00 Cr.. The value appears to be declining and may need further review. It has decreased from 62.00 Cr. (Sep 2024) to ₹38.00 Cr., marking a decrease of 24.00 Cr..
  • For Interest, as of Dec 2024, the value is ₹96.00 Cr.. The value appears to be improving (decreasing) as expected. It has decreased from 110.00 Cr. (Sep 2024) to ₹96.00 Cr., marking a decrease of 14.00 Cr..
  • For Depreciation, as of Dec 2024, the value is ₹218.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 213.00 Cr. (Sep 2024) to ₹218.00 Cr., marking an increase of ₹5.00 Cr..
  • For Profit before tax, as of Dec 2024, the value is ₹347.00 Cr.. The value appears to be declining and may need further review. It has decreased from 385.00 Cr. (Sep 2024) to ₹347.00 Cr., marking a decrease of 38.00 Cr..
  • For Tax %, as of Dec 2024, the value is 39.00%. The value appears to be increasing, which may not be favorable. It has increased from 37.00% (Sep 2024) to 39.00%, marking an increase of 2.00%.
  • For Net Profit, as of Dec 2024, the value is ₹213.00 Cr.. The value appears to be declining and may need further review. It has decreased from 243.00 Cr. (Sep 2024) to ₹213.00 Cr., marking a decrease of 30.00 Cr..
  • For EPS in Rs, as of Dec 2024, the value is 4.45. The value appears to be declining and may need further review. It has decreased from ₹5.23 (Sep 2024) to 4.45, marking a decrease of ₹0.78.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: March 6, 2025, 4:51 pm

MetricMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales 5,1676,7047,6226,8096,3968,35810,1468,0566,33610,46112,91015,68215,434
Expenses 4,4195,7836,2325,3975,2766,6358,0986,9845,5048,47811,17413,12112,781
Operating Profit 7489211,3901,4131,1211,7232,0481,0728321,9831,7372,5622,654
OPM % 14%14%18%21%18%21%20%13%13%19%13%16%17%
Other Income 9429822614839146199109-13828812421746
Interest 167169136116100107127171108160299491445
Depreciation 320357362453452467521548612730736848857
Profit before tax 3556931,1189929601,1961,599462-251,3818271,4391,398
Tax % 43%30%32%32%26%37%35%24%399%22%39%37%
Net Profit 2024827606757117541,033349-1271,077508910858
EPS in Rs 5.3210.7116.3814.5715.1316.3822.177.51-2.7123.2311.3520.4319.11
Dividend Payout % 32%21%23%26%25%27%23%47%-74%30%62%44%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)138.61%57.68%-11.18%5.33%6.05%37.00%-66.21%-136.39%948.03%-52.83%79.13%
Change in YoY Net Profit Growth (%)0.00%-80.94%-68.86%16.52%0.71%30.95%-103.22%-70.17%1084.42%-1000.86%131.97%

Bharat Forge Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:9%
5 Years:9%
3 Years:35%
TTM:2%
Compounded Profit Growth
10 Years:7%
5 Years:-3%
3 Years:59%
TTM:15%
Stock Price CAGR
10 Years:5%
5 Years:24%
3 Years:19%
1 Year:-8%
Return on Equity
10 Years:13%
5 Years:9%
3 Years:12%
Last Year:13%

Last Updated: Unknown

Balance Sheet

Last Updated: December 14, 2024, 3:54 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital 47474747479393939393939393
Reserves 2,2102,6373,3983,3674,0704,5595,2835,1275,3226,4786,6127,0777,184
Borrowings 2,7842,5612,5463,3753,1243,2574,0294,4695,2715,9727,3137,9487,740
Other Liabilities 2,5542,2902,2451,5041,6002,0682,1731,7932,4022,9504,2164,0663,976
Total Liabilities 7,5957,5348,2368,2928,8419,97711,57811,48213,08815,49218,23519,18418,993
Fixed Assets 2,9102,5342,6293,1343,2773,5003,6254,0024,7504,8706,1616,3096,100
CWIP 6325838704094533448311,1439001,1257019911,806
Investments 4168014968861,1921,5011,5241,6182,6072,6042,5691,8491,699
Other Assets 3,6363,6174,2423,8633,9194,6325,5994,7204,8316,8938,80410,0349,388
Total Assets 7,5957,5348,2368,2928,8419,97711,57811,48213,08815,49218,23519,18418,993

Below is a detailed analysis of the balance sheet data for Bharat Forge Ltd based on the most recent figures (Sep 2024) and their trends compared to the previous period:

  • For Equity Capital, as of Sep 2024, the value is ₹93.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded ₹93.00 Cr..
  • For Reserves, as of Sep 2024, the value is ₹7,184.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹7,077.00 Cr. (Mar 2024) to ₹7,184.00 Cr., marking an increase of 107.00 Cr..
  • For Borrowings, as of Sep 2024, the value is ₹7,740.00 Cr.. The value appears to be improving (decreasing). However, Borrowings exceed Reserves, which may signal higher financial risk. It has decreased from ₹7,948.00 Cr. (Mar 2024) to ₹7,740.00 Cr., marking a decrease of 208.00 Cr..
  • For Other Liabilities, as of Sep 2024, the value is ₹3,976.00 Cr.. The value appears to be improving (decreasing). It has decreased from ₹4,066.00 Cr. (Mar 2024) to ₹3,976.00 Cr., marking a decrease of 90.00 Cr..
  • For Total Liabilities, as of Sep 2024, the value is ₹18,993.00 Cr.. The value appears to be improving (decreasing). It has decreased from ₹19,184.00 Cr. (Mar 2024) to ₹18,993.00 Cr., marking a decrease of 191.00 Cr..
  • For Fixed Assets, as of Sep 2024, the value is ₹6,100.00 Cr.. The value appears to be declining and may need further review. It has decreased from ₹6,309.00 Cr. (Mar 2024) to ₹6,100.00 Cr., marking a decrease of 209.00 Cr..
  • For CWIP, as of Sep 2024, the value is ₹1,806.00 Cr.. The value appears strong and on an upward trend. It has increased from ₹991.00 Cr. (Mar 2024) to ₹1,806.00 Cr., marking an increase of 815.00 Cr..
  • For Investments, as of Sep 2024, the value is ₹1,699.00 Cr.. The value appears to be declining and may need further review. It has decreased from ₹1,849.00 Cr. (Mar 2024) to ₹1,699.00 Cr., marking a decrease of 150.00 Cr..
  • For Other Assets, as of Sep 2024, the value is ₹9,388.00 Cr.. The value appears to be declining and may need further review. It has decreased from ₹10,034.00 Cr. (Mar 2024) to ₹9,388.00 Cr., marking a decrease of 646.00 Cr..
  • For Total Assets, as of Sep 2024, the value is ₹18,993.00 Cr.. The value appears to be declining and may need further review. It has decreased from ₹19,184.00 Cr. (Mar 2024) to ₹18,993.00 Cr., marking a decrease of 191.00 Cr..

However, the Borrowings (7,740.00 Cr.) are higher than the Reserves (₹7,184.00 Cr.), which may signal higher financial risk.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +7357161,0351,3561,0529679111,5221,0205061,2941,664
Cash from Investing Activity +-232-244-467-888-737-722-1,196-1,114-1,511-690-1,666-665
Cash from Financing Activity +-330-640-360-448-401-314368-381578310280-203
Net Cash Flow173-16820819-86-69832687126-91796

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow746.00919.00-1.00-2.00-2.00-2.00-2.00-3.00827.00-4.00-6.00-5.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days564741757785776881758774
Inventory Days188154131142161151160177249235191159
Days Payable153157144119127148118105167141132112
Cash Conversion Cycle9145289811188119140163169147121
Working Capital Days182258816475907711411210787
ROCE %11%15%21%17%13%18%20%7%3%11%8%13%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024
Promoters45.25%45.25%45.26%45.26%45.26%45.26%45.26%45.26%45.26%45.26%45.26%44.07%
FIIs19.80%18.82%19.30%17.88%16.17%15.79%16.28%16.60%16.48%17.04%18.72%17.87%
DIIs23.55%24.33%24.55%26.09%27.70%28.61%27.95%27.74%28.06%27.96%26.32%28.35%
Government0.16%0.16%0.16%0.18%0.18%0.18%0.18%0.18%0.18%0.18%0.16%0.15%
Public11.23%11.44%10.72%10.60%10.70%10.17%10.35%10.22%10.04%9.58%9.55%9.55%
No. of Shareholders1,53,7181,56,4451,58,8451,55,7341,62,1051,56,6861,69,9541,79,6831,89,1041,82,9881,99,7212,07,810

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Kotak Emerging Equity Fund - Regular Plan8,132,7262.571004.62,156,7032025-03-10277.09%
Kotak Flexicap Fund - Regular Plan6,600,0001.84815.272,156,7032025-03-10206.02%
DSP Mid Cap Fund5,797,5254.33716.142,156,7032025-03-10168.81%
Kotak Equity Opportunities Fund - Regular Plan4,700,0003.17580.572,156,7032025-03-10117.93%
Mirae Asset Large & Midcap Fund3,772,6321.4466.012,156,7032025-03-1074.93%
Aditya Birla Sun Life Flexi Cap Fund3,540,0002.23437.282,156,7032025-03-1064.14%
Nippon India Growth Fund3,300,0001.67407.632,156,7032025-03-1053.01%
Mirae Asset Midcap Fund2,661,7432.29328.792,156,7032025-03-1023.42%
SBI Magnum Midcap Fund2,343,5401.81289.492,156,7032025-03-108.66%
Canara Robeco Emerging Equities2,156,7031.34266.412,156,7032025-03-100%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 20.4311.3523.23-2.717.51
Diluted EPS (Rs.) 20.4311.3523.23-2.717.51
Cash EPS (Rs.) 37.6527.4339.5211.0620.18
Book Value[Excl.RevalReserv]/Share (Rs.) 153.88144.78142.32116.98112.79
Book Value[Incl.RevalReserv]/Share (Rs.) 153.88144.78142.32116.98112.79
Revenue From Operations / Share (Rs.) 336.79277.26224.66136.08173.01
PBDIT / Share (Rs.) 59.8241.6747.5022.1327.97
PBIT / Share (Rs.) 41.6025.8731.828.9916.21
PBT / Share (Rs.) 30.7918.4830.360.0910.84
Net Profit / Share (Rs.) 19.4311.6423.84-2.088.42
NP After MI And SOA / Share (Rs.) 20.4311.3523.23-2.717.51
PBDIT Margin (%) 17.7615.0221.1416.2616.16
PBIT Margin (%) 12.359.3314.166.609.37
PBT Margin (%) 9.146.6613.510.076.26
Net Profit Margin (%) 5.764.1910.61-1.534.86
NP After MI And SOA Margin (%) 6.064.0910.34-1.994.34
Return on Networth / Equity (%) 13.267.8716.46-2.336.70
Return on Capital Employeed (%) 19.2311.9215.604.839.93
Return On Assets (%) 4.912.876.93-0.953.02
Long Term Debt / Equity (X) 0.250.260.270.400.35
Total Debt / Equity (X) 1.051.020.860.840.74
Asset Turnover Ratio (%) 0.830.500.480.320.42
Current Ratio (X) 1.081.091.301.381.33
Quick Ratio (X) 0.730.700.850.970.89
Inventory Turnover Ratio (X) 2.251.691.821.151.36
Dividend Payout Ratio (NP) (%) 39.1661.686.450.0079.85
Dividend Payout Ratio (CP) (%) 20.7025.783.850.0031.12
Earning Retention Ratio (%) 60.8438.3293.550.0020.15
Cash Earning Retention Ratio (%) 79.3074.2296.150.0068.88
Interest Coverage Ratio (X) 5.676.5013.799.577.60
Interest Coverage Ratio (Post Tax) (X) 2.872.977.342.943.75
Enterprise Value (Cr.) 58418.4241707.4437790.5231897.4214235.75
EV / Net Operating Revenue (X) 3.733.233.615.031.77
EV / EBITDA (X) 20.9721.4917.0930.9510.93
MarketCap / Net Operating Revenue (X) 3.352.783.124.381.35
Retention Ratios (%) 60.8338.3193.540.0020.14
Price / BV (X) 7.335.354.975.132.09
Price / Net Operating Revenue (X) 3.352.783.124.381.35
EarningsYield 0.010.010.030.000.03

After reviewing the key financial ratios for Bharat Forge Ltd, here is a detailed analysis based on the latest available data and recent trends:

  • For FaceValue, as of Mar 24, the value is 2.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 2.00.
  • For Basic EPS (Rs.), as of Mar 24, the value is 20.43. This value is within the healthy range. It has increased from 11.35 (Mar 23) to 20.43, marking an increase of 9.08.
  • For Diluted EPS (Rs.), as of Mar 24, the value is 20.43. This value is within the healthy range. It has increased from 11.35 (Mar 23) to 20.43, marking an increase of 9.08.
  • For Cash EPS (Rs.), as of Mar 24, the value is 37.65. This value is within the healthy range. It has increased from 27.43 (Mar 23) to 37.65, marking an increase of 10.22.
  • For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 153.88. It has increased from 144.78 (Mar 23) to 153.88, marking an increase of 9.10.
  • For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 153.88. It has increased from 144.78 (Mar 23) to 153.88, marking an increase of 9.10.
  • For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 336.79. It has increased from 277.26 (Mar 23) to 336.79, marking an increase of 59.53.
  • For PBDIT / Share (Rs.), as of Mar 24, the value is 59.82. This value is within the healthy range. It has increased from 41.67 (Mar 23) to 59.82, marking an increase of 18.15.
  • For PBIT / Share (Rs.), as of Mar 24, the value is 41.60. This value is within the healthy range. It has increased from 25.87 (Mar 23) to 41.60, marking an increase of 15.73.
  • For PBT / Share (Rs.), as of Mar 24, the value is 30.79. This value is within the healthy range. It has increased from 18.48 (Mar 23) to 30.79, marking an increase of 12.31.
  • For Net Profit / Share (Rs.), as of Mar 24, the value is 19.43. This value is within the healthy range. It has increased from 11.64 (Mar 23) to 19.43, marking an increase of 7.79.
  • For NP After MI And SOA / Share (Rs.), as of Mar 24, the value is 20.43. This value is within the healthy range. It has increased from 11.35 (Mar 23) to 20.43, marking an increase of 9.08.
  • For PBDIT Margin (%), as of Mar 24, the value is 17.76. This value is within the healthy range. It has increased from 15.02 (Mar 23) to 17.76, marking an increase of 2.74.
  • For PBIT Margin (%), as of Mar 24, the value is 12.35. This value is within the healthy range. It has increased from 9.33 (Mar 23) to 12.35, marking an increase of 3.02.
  • For PBT Margin (%), as of Mar 24, the value is 9.14. This value is below the healthy minimum of 10. It has increased from 6.66 (Mar 23) to 9.14, marking an increase of 2.48.
  • For Net Profit Margin (%), as of Mar 24, the value is 5.76. This value is within the healthy range. It has increased from 4.19 (Mar 23) to 5.76, marking an increase of 1.57.
  • For NP After MI And SOA Margin (%), as of Mar 24, the value is 6.06. This value is below the healthy minimum of 8. It has increased from 4.09 (Mar 23) to 6.06, marking an increase of 1.97.
  • For Return on Networth / Equity (%), as of Mar 24, the value is 13.26. This value is below the healthy minimum of 15. It has increased from 7.87 (Mar 23) to 13.26, marking an increase of 5.39.
  • For Return on Capital Employeed (%), as of Mar 24, the value is 19.23. This value is within the healthy range. It has increased from 11.92 (Mar 23) to 19.23, marking an increase of 7.31.
  • For Return On Assets (%), as of Mar 24, the value is 4.91. This value is below the healthy minimum of 5. It has increased from 2.87 (Mar 23) to 4.91, marking an increase of 2.04.
  • For Long Term Debt / Equity (X), as of Mar 24, the value is 0.25. This value is within the healthy range. It has decreased from 0.26 (Mar 23) to 0.25, marking a decrease of 0.01.
  • For Total Debt / Equity (X), as of Mar 24, the value is 1.05. This value exceeds the healthy maximum of 1. It has increased from 1.02 (Mar 23) to 1.05, marking an increase of 0.03.
  • For Asset Turnover Ratio (%), as of Mar 24, the value is 0.83. It has increased from 0.50 (Mar 23) to 0.83, marking an increase of 0.33.
  • For Current Ratio (X), as of Mar 24, the value is 1.08. This value is below the healthy minimum of 1.5. It has decreased from 1.09 (Mar 23) to 1.08, marking a decrease of 0.01.
  • For Quick Ratio (X), as of Mar 24, the value is 0.73. This value is below the healthy minimum of 1. It has increased from 0.70 (Mar 23) to 0.73, marking an increase of 0.03.
  • For Inventory Turnover Ratio (X), as of Mar 24, the value is 2.25. This value is below the healthy minimum of 4. It has increased from 1.69 (Mar 23) to 2.25, marking an increase of 0.56.
  • For Dividend Payout Ratio (NP) (%), as of Mar 24, the value is 39.16. This value is within the healthy range. It has decreased from 61.68 (Mar 23) to 39.16, marking a decrease of 22.52.
  • For Dividend Payout Ratio (CP) (%), as of Mar 24, the value is 20.70. This value is within the healthy range. It has decreased from 25.78 (Mar 23) to 20.70, marking a decrease of 5.08.
  • For Earning Retention Ratio (%), as of Mar 24, the value is 60.84. This value is within the healthy range. It has increased from 38.32 (Mar 23) to 60.84, marking an increase of 22.52.
  • For Cash Earning Retention Ratio (%), as of Mar 24, the value is 79.30. This value exceeds the healthy maximum of 70. It has increased from 74.22 (Mar 23) to 79.30, marking an increase of 5.08.
  • For Interest Coverage Ratio (X), as of Mar 24, the value is 5.67. This value is within the healthy range. It has decreased from 6.50 (Mar 23) to 5.67, marking a decrease of 0.83.
  • For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is 2.87. This value is below the healthy minimum of 3. It has decreased from 2.97 (Mar 23) to 2.87, marking a decrease of 0.10.
  • For Enterprise Value (Cr.), as of Mar 24, the value is 58,418.42. It has increased from 41,707.44 (Mar 23) to 58,418.42, marking an increase of 16,710.98.
  • For EV / Net Operating Revenue (X), as of Mar 24, the value is 3.73. This value exceeds the healthy maximum of 3. It has increased from 3.23 (Mar 23) to 3.73, marking an increase of 0.50.
  • For EV / EBITDA (X), as of Mar 24, the value is 20.97. This value exceeds the healthy maximum of 15. It has decreased from 21.49 (Mar 23) to 20.97, marking a decrease of 0.52.
  • For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 3.35. This value exceeds the healthy maximum of 3. It has increased from 2.78 (Mar 23) to 3.35, marking an increase of 0.57.
  • For Retention Ratios (%), as of Mar 24, the value is 60.83. This value is within the healthy range. It has increased from 38.31 (Mar 23) to 60.83, marking an increase of 22.52.
  • For Price / BV (X), as of Mar 24, the value is 7.33. This value exceeds the healthy maximum of 3. It has increased from 5.35 (Mar 23) to 7.33, marking an increase of 1.98.
  • For Price / Net Operating Revenue (X), as of Mar 24, the value is 3.35. This value exceeds the healthy maximum of 3. It has increased from 2.78 (Mar 23) to 3.35, marking an increase of 0.57.
  • For EarningsYield, as of Mar 24, the value is 0.01. This value is below the healthy minimum of 5. There is no change compared to the previous period (Mar 23) which recorded 0.01.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Bharat Forge Ltd as of March 11, 2025 is: ₹851.75

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of March 11, 2025, Bharat Forge Ltd is Overvalued by 21.71% compared to the current share price 1,088.00

Intrinsic Value of Bharat Forge Ltd as of March 11, 2025 is: 1,592.12

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of March 11, 2025, Bharat Forge Ltd is Undervalued by 46.33% compared to the current share price 1,088.00

Last 5 Year EPS CAGR: 86.92%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has higher reserves (4,871.08 cr) compared to borrowings (4,645.31 cr), indicating strong financial stability.
  2. The company has shown consistent growth in sales (8.77 cr) and profit (328.46 cr) over the years.
  1. The stock has a low average ROCE of 13.08%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 75.42, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 110.00, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Bharat Forge Ltd:
    1. Net Profit Margin: 5.76%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 19.23% (Industry Average ROCE: 11.36%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 13.26% (Industry Average ROE: 12.82%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 2.87
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0.73
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 54.7 (Industry average Stock P/E: 140.29)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 1.05
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Bharat Forge Ltd. is a Public Limited Listed company incorporated on 19/06/1961 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L25209PN1961PLC012046 and registration number is 012046. Currently Company is involved in the business activities of Manufacture of other transport equipment. Company's Total Operating Revenue is Rs. 8968.63 Cr. and Equity Capital is Rs. 93.13 Cr. for the Year ended 31/03/2024.
INDUSTRYADDRESSCONTACT
ForgingsMundhwa, Pune Cantonment, Pune Maharashtra 411036secretarial@bharatforge.com
http://www.bharatforge.com
Management
NamePosition Held
Mr. B N KalyaniChairman & Managing Director
Mr. G K AgarwalDeputy Managing Director
Mr. Amit B KalyaniJoint Managing Director
Mr. B P KalyaniExecutive Director
Mr. S E TandaleExecutive Director
Mr. Murali G SivaramanIndependent Director
Mr. Dipak B ManeIndependent Director
Ms. Sonia SinghIndependent Director
Mr. Pratap G PawarIndependent Director
Mrs. Lalita D GupteIndependent Director
Mr. P H RavikumarIndependent Director
Mr. Vimal R BhandariIndependent Director
Mr. K B S AnandIndependent Director
Mr. Ashish Bharat RamNon Exe.Non Ind.Director

FAQ

What is the latest intrinsic value of Bharat Forge Ltd?

The latest intrinsic value of Bharat Forge Ltd as on 11 March 2025 is ₹851.75, which is 21.71% lower than the current market price of 1,088.00, indicating the stock is overvalued by 21.71%. The intrinsic value of Bharat Forge Ltd is calculated using PE ratio method. The stock has a market capitalization of ₹52,006 Cr. and recorded a high/low of ₹1,826/1,002 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹7,184 Cr and total liabilities of ₹18,993 Cr.

What is the Market Cap of Bharat Forge Ltd?

The Market Cap of Bharat Forge Ltd is 52,006 Cr..

What is the current Stock Price of Bharat Forge Ltd as on 11 March 2025?

The current stock price of Bharat Forge Ltd as on 11 March 2025 is ₹1,088.

What is the High / Low of Bharat Forge Ltd stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of Bharat Forge Ltd stocks is ₹1,826/1,002.

What is the Stock P/E of Bharat Forge Ltd?

The Stock P/E of Bharat Forge Ltd is 54.7.

What is the Book Value of Bharat Forge Ltd?

The Book Value of Bharat Forge Ltd is 152.

What is the Dividend Yield of Bharat Forge Ltd?

The Dividend Yield of Bharat Forge Ltd is 0.83 %.

What is the ROCE of Bharat Forge Ltd?

The ROCE of Bharat Forge Ltd is 12.9 %.

What is the ROE of Bharat Forge Ltd?

The ROE of Bharat Forge Ltd is 12.7 %.

What is the Face Value of Bharat Forge Ltd?

The Face Value of Bharat Forge Ltd is 2.00.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Bharat Forge Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE