Bharat Forge Announces Financial Results for Quarter Ended September 30, 2025
Bharat Forge announced Q2 FY26 results with consolidated revenue of ₹4,032 crore and EBITDA of ₹715 crore. Standalone revenue declined due to weak North American demand, but was partially offset by growth in India.
The financial results indicate a moderate impact. The decline in North American markets is a concern, but new order wins and diversification efforts provide some stability.
The announcement presents a mix of positive and negative aspects. While consolidated results show reasonable performance, there's a noted decline in standalone revenues and North American exports, balancing the sentiment.
* Bharat Forge Limited announced its unaudited financial results (standalone and consolidated) for the quarter and half-year ended September 30, 2025. * Standalone revenues declined by 7.5% sequentially to ₹1,947 crore, impacted by a 16% drop in revenues to North America. CV exports to North America declined by 48% sequentially and 63% YoY. * Standalone EBITDA stood at ₹545 crore with EBITDA margins of 28%, and PBT of ₹432 crore. * Consolidated revenue & EBITDA in Q2 came in at ₹4,032 crore and ₹715 crore respectively. The balance sheet remains robust with cash of ₹2,309 crore and ROCE (net) of 15.5%. * The company secured new orders worth ₹1,582 crore including ₹559 crore in Defence in H1 FY26. As of H1FY26, the defence order book stood at ₹9,467 crore. * B.N. Kalyani, Chairman & Managing Director, commented that the quarterly performance was impacted by the sharp decline in the North American truck production and the resulting inventory destocking. He also mentioned that the company expects the industrial business across India, exports to non-US geographies and ramp up in defence business to more than offset the weakness in US exports.
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Bharat Forge Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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