Bharat Forge has posted a consolidated revenue of ₹3,689 crore for the second quarter, accompanied by an EBITDA of ₹690 crore. 

Despite a 2.3 per cent year-on-year (YoY) decline in revenue, primarily due to weakness in European automotive markets, Bharat Forge achieved 10.8 per cent EBITDA growth, which has led to a 220-basis points YoY margin improvement to18.7 per cent, from 16.5 per cent.

During the quarter, Bharat Forge secured new orders worth ₹1,207 crore, in the defence sector, castings (both ferrous and aluminium), and core forging operations. In the first half of FY25, the total order wins reached ₹2,216 crore, with approximately two-thirds attributed to Defence, and the remaining one-third to the components business.

The group’s Defence segment recorded revenue of ₹509 crore in Q2, a 67 per cent increase YoY. With new order acquisitions worth ₹42 crore during the quarter, the executable order book stood at ₹5,905 crore as of September 30, excluding any prospective orders from both the domestic and export markets.

JS Auto demonstrated a robust performance in the quarter, achieving revenue growth of 32 per cent to ₹165 crore and a 60 per cent rise in EBITDA to ₹20 crore, compared to Q2FY24. In the first half of FY25, JS Auto secured orders worth ₹173 crore, benefiting from the shift in the manufacturing supply chain to India. The business is expected to maintain a strong performance in the foreseeable future.

BFL’s overseas operations generated sales of ₹1,145 crore, with an EBITDA of ₹16 crore. However, a recovery in international business remains slow due to Europe’s challenging economic conditions impacting the automotive sector.

Looking ahead to the second half of FY25, Bharat Forge anticipates a stable performance, similar to that in H1 FY25, as it continues to emphasise revenue growth and profitability improvement across both its domestic and overseas subsidiaries.

Related Topics