Bharat Forge

₹1,739As of Sun 8 Nov 2026, 12:00 UTC

NSE:BHARATFORGIndustrials

Country India

PE (Fwd) 68.07

TSR 10Y CAGR 15.45%

Div yield 0.49%

ROE —

Metal Fabrication

Beta (5Y) 0.54

PE TTM 77.00

TSR TTM 31.81%

Mkt cap ₹833.1B

ROIC —

SE Grade™

Value

Quality

Moat

—

1Y Price

Reference

₹1,967

13.10%

(86.19%)

Price above Reference Value

TTM

FYE 31 Mar INR

FY2017

FY2018

FY2019

FY2020

FY2021

FY2022

FY2023

FY2024

FY2025

FY2026

FY2027E

Trend

10Y

Peers

168.1

Revenue₹B

—

104.6

129.1

156.8

151.2

168.1

183.7

12.59%

11.17

Revenue growth%

—

23.41

21.47

(3.57)

11.17

9.27

16.32

—

53.44

Gross margin%

—

57.96

52.27

51.25

54.93

53.44

53.27

53.44

11.58

Operating margin%

—

11.78

8.12

11.00

12.22

11.58

11.47

11.58

6.42

Net margin%

—

10.34

4.09

6.07

6.22

6.42

6.23

6.22

77.00

P/E ratio (avg)x

—

31.05

67.76

50.78

70.85

61.51

72.67

61.51

42.69

EV/EBITx

—

27.25

34.17

28.00

36.07

34.10

39.46

34.10

—

FCF yield (avg)%

—

FCF margin%

—

FCF / Net incomex

—

ROIC%

—

Return on equity%

—

Return on assets%

—

22.58

EPS₹

—

23.23

11.35

20.43

20.05

22.58

23.93

(0.71%)

—

12.65

EPS growth%

—

(51.16)

80.01

(1.86)

12.65

5.95

5.39

—

Bookvalue per sh₹

—

FCF per share₹

—

8.50

Dividend per sh₹

—

7.00

9.00

8.50

8.77

4.97%

—

0.49

Div yield (avg)%

—

0.97

0.91

0.87

0.60

0.61

0.50

0.87

37.64

Payout ratio%

—

30.13

61.68

44.06

42.40

37.64

36.64

42.40

478.1

Shares (diluted)M

—

465.6

469.5

478.1

◌478.1

0.66%

(1.84)

Buyback yield%

—

(0.83)

(1.84)

◌—

(0.42)

—

D/E ratiox

—

831.3

Enterprise value₹B

—

335.9

358.0

482.9

666.8

664.1

831.3

18.58%

—

LT debt₹M

—

Peers (US$8.833B)

Cap (US$)

INDO-MIM Limited

6.431B

101.4x

PTC Industries Limited

4.109B

290.0x

Happy Forgings Limited

1.703B

45.58x

Commercial Metals…

6.849B

10.63x

Capital

TTM

10Y

Leveragex

—

EBIT/Intx

6.464

4.791

Own earn%

—

Sh yield%

(1.35)

0.32

Owners

Insiders/Inst%

0.34

42.44

Short interest%

—

SBC / revenue%

—

Record

10Y

Profitable years

5/5

Revenue growth years

3/4

EPS growth years

2/4

Dividend streakyrs

Op margin range%

8–12

$1 testx

—

Incr. ROIC%

—

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.

Growth vs revenue

Latest

Trend

4Y CAGR

Rel growth

Revenue

₹168.1B

12.59%

1.00×

Cost of revenue

₹78.27B

15.50%

1.11×

Operating expenses

₹70.37B

9.86%

0.91×

Revenue by region

No breakdown available

Reinvestment returns

n/m

Trend

Reinvestment rate

n/m

Return on capital

n/m

Spread over hurdle

n/m