Export rebound, defence to sustain growth trajectory for Bharat Forge

Margins and cash flows to remain at elevated levels on operating leverage, minimal capex

The Bharat Forge stock gained nearly 8 per cent to hit a 52-week high after the company posted better-than-expected financials for the March quarter. The management commentary which highlighted multiple growth drivers across verticals over the medium term also added to the positive sentiment for the stock.

Powered by growth across segments, the company reported a 48 per cent y-o-y uptick in revenues with domestic and exports contributing equally to the sales performance. The street had pegged the growth in the 20-30 per cent range largely driven by the commercial vehicle portfolio.

While the year ago growth is significant, it