About
Bharat Forge Limited engages in the manufacture and sale of forged and machined components in India and internationally. It operates through three segments: Forgings, Defence, and Others. The company offers automotive components comprising crankshafts, connecting rods, emission/after treatment, and fuel injection systems; chassis, such as front axle beams, steering knuckles, control arms, knuckle, forks, and reinforcement brackets; transmission and driveline components; and power generation components for thermal, hydro, wind, and nuclear energy. It provides oil and gas forging products, such as subsea, surface, and drilling components; rail products comprising engine and bogie components, turbochargers, and power electronics; and marine products that include propellers, marine motor, stern tube, crankshaft, conrod, piston rod, and rudders which include stock, trunk, and pintle. In addition, the company offers various components, such as turbochargers and superchargers, rotor assembly, and air cycle machine for land, marine, and aviation application; construction and mining products, including machined crankshafts, injector bodies, front spindles, and track links; and e-mobility, castings, and defense products. Further, it provides aero-frame, landing gear, and critical engine components. The company was incorporated in 1961 and is headquartered in Pune, India.
Key Metrics
as of Sep 2026Market Cap93,514 Cr
P/E92.60
Div Yield0.43 %
Book Value₹200.00
52w High₹2,295.00
52w Low₹1,141.00
Face Value₹2.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,640.00 | 4,528.00 | 4,343.00 | 4,032.00 | 3,909.00 | 3,853.00 | 3,476.00 | 3,689.00 | 4,106.00 | 4,164.00 | 3,866.00 | 3,774.00 | 3,877.00 |
| Expenses | 3,942.00 | 3,751.00 | 3,597.00 | 3,308.00 | 3,239.00 | 3,174.00 | 2,853.00 | 3,042.00 | 3,365.00 | 3,521.00 | 3,169.00 | 3,153.00 | 3,282.00 |
| Operating Profit | 698.00 | 777.00 | 746.00 | 724.00 | 670.00 | 679.00 | 623.00 | 647.00 | 741.00 | 643.00 | 698.00 | 621.00 | 595.00 |
| OPM % | 15.00 | 17.00 | 17.00 | 18.00 | 17.00 | 18.00 | 18.00 | 18.00 | 18.00 | 15.00 | 18.00 | 16.00 | 15.00 |
| Other Income | -301.00 | -46.00 | -13.00 | 54.00 | 50.00 | 57.00 | 38.00 | 62.00 | -99.00 | 45.00 | 58.00 | 51.00 | 67.00 |
| Depreciation | 263.00 | 255.00 | 249.00 | 241.00 | 226.00 | 224.00 | 218.00 | 213.00 | 218.00 | 207.00 | 224.00 | 211.00 | 206.00 |
| Interest | 90.00 | 84.00 | 77.00 | 80.00 | 82.00 | 88.00 | 96.00 | 110.00 | 124.00 | 116.00 | 137.00 | 124.00 | 114.00 |
| Profit before tax | 44.00 | 392.00 | 407.00 | 457.00 | 411.00 | 424.00 | 347.00 | 385.00 | 300.00 | 366.00 | 395.00 | 337.00 | 341.00 |
| Tax % | 302.00 | 40.00 | 33.00 | 34.00 | 31.00 | 33.00 | 39.00 | 37.00 | 42.00 | 38.00 | 36.00 | 36.00 | 37.00 |
| Net Profit | -90.00 | 233.00 | 273.00 | 299.00 | 284.00 | 283.00 | 213.00 | 243.00 | 175.00 | 227.00 | 254.00 | 215.00 | 214.00 |
| EPS in Rs | -1.88 | 4.86 | 5.53 | 6.26 | 5.93 | 5.90 | 4.45 | 5.23 | 4.36 | 5.07 | 5.68 | 4.88 | 4.80 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 16,812.00 | 15,123.00 | 15,682.00 | 12,910.00 | 10,461.00 | 6,336.00 | 8,056.00 | 10,146.00 | 8,358.00 | 6,396.00 | 6,809.00 | 7,622.00 |
| Expenses | 13,894.00 | 12,431.00 | 13,121.00 | 11,174.00 | 8,478.00 | 5,504.00 | 6,984.00 | 8,098.00 | 6,635.00 | 5,276.00 | 5,397.00 | 6,232.00 |
| Operating Profit | 2,917.00 | 2,692.00 | 2,562.00 | 1,737.00 | 1,983.00 | 832.00 | 1,072.00 | 2,048.00 | 1,723.00 | 1,121.00 | 1,413.00 | 1,390.00 |
| OPM % | 17.00 | 18.00 | 16.00 | 13.00 | 19.00 | 13.00 | 13.00 | 20.00 | 21.00 | 18.00 | 21.00 | 18.00 |
| Other Income | 44.00 | 55.00 | 217.00 | 124.00 | 288.00 | -138.00 | 109.00 | 199.00 | 46.00 | 391.00 | 148.00 | 226.00 |
| Interest | 323.00 | 417.00 | 491.00 | 299.00 | 160.00 | 108.00 | 171.00 | 127.00 | 107.00 | 100.00 | 116.00 | 136.00 |
| Depreciation | 971.00 | 874.00 | 848.00 | 736.00 | 730.00 | 612.00 | 548.00 | 521.00 | 467.00 | 452.00 | 453.00 | 362.00 |
| Profit before tax | 1,667.00 | 1,456.00 | 1,439.00 | 827.00 | 1,381.00 | -25.00 | 462.00 | 1,599.00 | 1,196.00 | 960.00 | 992.00 | 1,118.00 |
| Tax % | 35.00 | 37.00 | 37.00 | 39.00 | 22.00 | 399.00 | 24.00 | 35.00 | 37.00 | 26.00 | 32.00 | 32.00 |
| Net Profit | 1,089.00 | 913.00 | 910.00 | 508.00 | 1,077.00 | -127.00 | 349.00 | 1,033.00 | 754.00 | 711.00 | 675.00 | 760.00 |
| EPS in Rs | 22.58 | 19.69 | 20.43 | 11.35 | 23.23 | -2.71 | 7.51 | 22.17 | 16.38 | 15.13 | 14.57 | 16.38 |
| Dividend Payout % | 38.00 | 43.00 | 44.00 | 62.00 | 30.00 | -74.00 | 47.00 | 23.00 | 27.00 | 25.00 | 26.00 | 23.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 96.00 | 96.00 | 93.00 | 93.00 | 93.00 | 93.00 | 93.00 | 93.00 | 93.00 | 47.00 | 47.00 | 47.00 |
| Reserves | 9,484.00 | 9,158.00 | 7,077.00 | 6,612.00 | 6,478.00 | 5,322.00 | 5,127.00 | 5,283.00 | 4,559.00 | 4,070.00 | 3,367.00 | 3,398.00 |
| Borrowings | 7,309.00 | 6,698.00 | 7,948.00 | 7,313.00 | 5,972.00 | 5,271.00 | 4,469.00 | 4,029.00 | 3,257.00 | 3,124.00 | 3,375.00 | 2,546.00 |
| Other Liabilities | 5,350.00 | 4,017.00 | 4,066.00 | 4,216.00 | 2,950.00 | 2,402.00 | 1,793.00 | 2,173.00 | 2,068.00 | 1,600.00 | 1,504.00 | 2,245.00 |
| Total Liabilities | 22,238.00 | 19,968.00 | 19,184.00 | 18,235.00 | 15,492.00 | 13,088.00 | 11,482.00 | 11,578.00 | 9,977.00 | 8,841.00 | 8,292.00 | 8,236.00 |
| Fixed Assets | 8,215.00 | 6,627.00 | 6,309.00 | 6,161.00 | 4,870.00 | 4,750.00 | 4,002.00 | 3,625.00 | 3,500.00 | 3,277.00 | 3,134.00 | 2,629.00 |
| CWIP | 1,298.00 | 1,732.00 | 991.00 | 701.00 | 1,125.00 | 900.00 | 1,143.00 | 831.00 | 344.00 | 453.00 | 409.00 | 870.00 |
| Investments | 1,738.00 | 2,063.00 | 1,849.00 | 2,569.00 | 2,604.00 | 2,607.00 | 1,618.00 | 1,524.00 | 1,501.00 | 1,192.00 | 886.00 | 496.00 |
| Other Assets | 10,987.00 | 9,547.00 | 10,034.00 | 8,804.00 | 6,893.00 | 4,831.00 | 4,720.00 | 5,599.00 | 4,632.00 | 3,919.00 | 3,863.00 | 4,242.00 |
| Total Assets | 22,238.00 | 19,968.00 | 19,184.00 | 18,235.00 | 15,492.00 | 13,088.00 | 11,482.00 | 11,578.00 | 9,977.00 | 8,841.00 | 8,292.00 | 8,236.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 1,487.00 | 1,796.00 | 1,664.00 | 1,294.00 | 506.00 | 1,020.00 | 1,522.00 | 911.00 | 967.00 | 1,052.00 | 1,356.00 | 1,035.00 |
| Cash from Investing Activity | -1,038.00 | -1,964.00 | -665.00 | -1,666.00 | -690.00 | -1,511.00 | -1,114.00 | -1,196.00 | -722.00 | -737.00 | -888.00 | -467.00 |
| Cash from Financing Activity | -442.00 | -570.00 | -203.00 | 280.00 | 310.00 | 578.00 | -381.00 | 368.00 | -314.00 | -401.00 | -448.00 | -360.00 |
| Net Cash Flow | 6.00 | -738.00 | 796.00 | -91.00 | 126.00 | 87.00 | 26.00 | 83.00 | -69.00 | -86.00 | 19.00 | 208.00 |
| Free Cash Flow | 374.00 | 352.00 | 164.00 | 325.00 | -459.00 | 129.00 | 565.00 | -220.00 | 399.00 | 408.00 | 465.00 | 326.00 |
| CFO/OP % | 70.00 | 89.00 | 85.00 | 99.00 | 43.00 | 134.00 | 164.00 | 71.00 | 79.00 | 118.00 | 118.00 | 104.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 85.00 | 70.00 | 74.00 | 87.00 | 75.00 | 81.00 | 68.00 | 77.00 | 85.00 | 77.00 | 75.00 | 41.00 |
| Inventory Days | 195.00 | 198.00 | 159.00 | 191.00 | 235.00 | 249.00 | 177.00 | 160.00 | 151.00 | 161.00 | 142.00 | 131.00 |
| Days Payable | 144.00 | 130.00 | 112.00 | 132.00 | 141.00 | 167.00 | 105.00 | 118.00 | 148.00 | 127.00 | 119.00 | 144.00 |
| Cash Conversion Cycle | 136.00 | 138.00 | 121.00 | 147.00 | 169.00 | 163.00 | 140.00 | 119.00 | 88.00 | 111.00 | 98.00 | 28.00 |
| Working Capital Days | -12.00 | -27.00 | -46.00 | -39.00 | -24.00 | -49.00 | -15.00 | 15.00 | 6.00 | -8.00 | 11.00 | 40.00 |
| ROCE % | 13.00 | 12.00 | 13.00 | 8.00 | 11.00 | 3.00 | 7.00 | 20.00 | 18.00 | 13.00 | 17.00 | 21.00 |
Corporate Actions
44 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 03 Jul 2026 | 03 Jul 2026 | — | 6.50 | |
| Dividend | 18 Feb 2026 | 18 Feb 2026 | — | 2.00 | |
| Dividend | 04 Jul 2025 | 04 Jul 2025 | — | 6.00 | |
| Dividend | 18 Feb 2025 | 18 Feb 2025 | — | 2.50 | |
| Dividend | 05 Jul 2024 | 05 Jul 2024 | — | 6.50 | |
| Dividend | 23 Feb 2024 | 23 Feb 2024 | — | 2.50 | |
| Dividend | 07 Jul 2023 | 07 Jul 2023 | — | 5.50 | |
| Dividend | 24 Nov 2022 | 25 Nov 2022 | — | 1.50 | |
| Dividend | 14 Jul 2022 | 15 Jul 2022 | — | 5.50 | |
| Dividend | 25 Nov 2021 | 26 Nov 2021 | — | 1.50 | |
| Dividend | 15 Jul 2021 | 16 Jul 2021 | — | 2.00 | |
| Dividend | 03 Mar 2020 | 04 Mar 2020 | — | 2.00 | |
| Dividend | 20 Nov 2019 | 21 Nov 2019 | — | 1.50 | |
| Dividend | 01 Aug 2019 | — | — | 2.50 | |
| Dividend | 15 Nov 2018 | 16 Nov 2018 | — | 2.50 | |
| Other | 15 Nov 2018 | 16 Nov 2018 | — | — | Interim Dividend Rs - Rs 2.50 Per Share |
| Dividend | 27 Jul 2018 | — | — | 2.50 | |
| Dividend | 16 Nov 2017 | 18 Nov 2017 | — | 2.00 | |
| Bonus | 28 Sep 2017 | 30 Sep 2017 | 1:1 | — | |
| Dividend | 28 Jul 2017 | — | — | 5.00 | |
| Dividend | 16 Feb 2017 | 18 Feb 2017 | — | 2.50 | |
| Dividend | 25 Jul 2016 | — | — | 0.50 | |
| Dividend | 18 Mar 2016 | 21 Mar 2016 | — | 4.00 | |
| Dividend | 17 Feb 2016 | 19 Feb 2016 | — | 3.00 | |
| Dividend | 20 Jul 2015 | — | — | 4.50 | |
| Dividend | 11 Feb 2015 | 12 Feb 2015 | — | 3.00 | |
| Dividend | 21 Aug 2014 | — | — | 2.50 | |
| Dividend | 13 Feb 2014 | 14 Feb 2014 | — | 2.00 | |
| Dividend | 01 Aug 2013 | — | — | 2.40 | |
| Dividend | 07 Mar 2013 | 08 Mar 2013 | — | 1.00 | |
| Dividend | 19 Jul 2012 | — | — | 2.50 | |
| Dividend | 07 Mar 2012 | 09 Mar 2012 | — | 1.50 | |
| Dividend | 04 Aug 2011 | — | — | 3.50 | |
| Dividend | 15 Jul 2010 | — | — | 1.00 | |
| Dividend | 16 Jul 2009 | — | — | 1.00 | |
| Dividend | 31 Jul 2008 | — | — | 3.50 | |
| Dividend | 19 Jul 2007 | — | — | 3.50 | |
| Dividend | 20 Jul 2006 | — | — | 3.00 | |
| Dividend | 20 Jul 2005 | — | — | 12.50 | NSE/BSE dividend mismatch: NSE=2.5; BSE=12.5 |
| Dividend | 20 Jul 2005 | — | — | 2.50 | NSE/BSE dividend mismatch: NSE=2.5; BSE=12.5 |
| Dividend | 20 Jul 2004 | — | — | 10.00 | |
| Other | 20 Jul 2004 | — | — | — | Right Issue of Equity Shares |
| Dividend | 25 Jun 2001 | — | — | 3.00 | |
| Other | 27 Mar 2001 | 16 Apr 2001 | — | — | Scheme of Arrangement |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update10 Mar from icra
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Rating update19 Dec 2025 from care
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Rating update12 Mar 2025 from icra
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Rating update20 Dec 2024 from care
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Rating update22 Dec 2023 from care
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Rating update18 Dec 2023 from icra
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