Bharat Forge Q1 Review – Poised To Encash Cyclical Recovery In User Industries: ICICI Direct

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Bharat Forge Ltd. posted robust Q1 FY22 results.

Total operating income was higher sequentially despite 4.2% tonnage decline to 53,512 million tonne.

The growth was on account of 25.3% sequential increase in export sales to Rs 916 crore, with India revenues down 21.8%.

Among segments, industrial revenues grew 29% while passenger vehicle and commercial vehicle revenues declined ~6% each.

On the geographical front, Americas posted ~31% increase in revenues, with Europe following behind at ~16%.

Margins at 28.5% were a substantial beat on our estimates of 25.2%, largely due to QoQ gross margin uptick of ~230 basis points, favourable product mix and previously implemented cost reduction measures.

At the consolidated level, Bharat Forge reported share of loss from joint ventures/associates at Rs 9.1 crore versus Rs 24.5 crore in Q4 FY21.

Click on the attachment to read the full report:

ICICI Direct Bharat Forge Q1FY22 Result Update.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Most Related Links :
reporterwings Governmental News Finance News

Source link

Back to top button