Bharat Forge: Stronger recovery key

Higher commodity prices, infrastructure focus of new US govt could help the company further

Bharat Forge’s December quarter numbers were broadly in line with expectations. While revenues fell 11 per cent over a year ago to Rs 990 crore, they were up 5.8 per cent over the previous quarter. Though domestic and export revenues are identical at Rs 480 crore, growth of exports was higher at 7.5 per cent compared to domestic rate of 3.2 per cent. One trigger in export segment is industrial revenues, up 46 per cent over September quarter. Slowdown in the industrial segment had led to steep fall in export revenues over the last few quarters. 

The management indicated the