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Street concerns over global slowdown weighs on Bharat Forge stock

The commercial vehicle (CV) segment's revenue was Rs 490 crore (up 27 per cent YoY and 5 per cent QoQ)

Bharat Forge
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Exports revenue increased 35 per cent YoY (up 9 per cent QoQ) to Rs 1,170 crore due to demand from the passenger vehicle (PV), oil & gas, and aerospace segments

Devangshu Datta
Consolidated earnings of Bharat Forge in Q3FY23 missed estimates, largely due to higher-than-expected interest burden, although operational numbers (including standalone numbers) were close to consensus. Still, the management guidance was positive and appeared to be based on logic.

Essentially, the standalone performance of the company met expectations but there were operating losses at overseas subsidiaries. There are also significant risks to exports, given a global slowdown, and this is a serious issue because of Bharat Forge’s strong export profile since exports account for over 60 per cent of its revenue.

Standalone net sales stood at Rs 1,950 crore, up 22

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First Published: Feb 16 2023 | 12:18 AM IST

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