Bharat Forge Q1 FY27: Revenue Rs 4,640 Cr (+18.7% YoY), Defence orders Rs 1,352 Cr.
Bharat Forge reported Q1 FY27 consolidated revenue of ₹4,640 crore, up 18.7% YoY. Defence orders secured were ₹1,352 crore, with an outstanding Defence order book of ₹11,196 crore. The company plans ₹1,800 crore capex over 12-18 months and seeks approval for a ₹2,500 crore fund raise.
The announcement includes significant financial performance metrics, substantial new order wins, strategic investments in new capabilities, and a proposed equity fundraising, all of which are material and are expected to have a significant impact on the company's future financial health and growth trajectory.
The company reported strong year-on-year growth in consolidated revenue and EBITDA, secured significant new orders particularly in the Defence sector, and announced substantial capex plans and a proposed fundraise, indicating positive business momentum and future growth prospects.
Bharat Forge Limited (BFL) announced its unaudited financial results for the quarter ended June 30, 2026, presenting an investor presentation detailing its performance.
The company reported a consolidated revenue of ₹4,640 crore for the quarter, marking an 18.7% year-on-year increase. Consolidated EBITDA stood at ₹752 crore, up 10.2% YoY, with an EBITDA margin of 16.2%. Standalone business demonstrated strong performance with a 11.5% YoY topline growth and EBITDA margins at 26.2%, normalizing to 28% after accounting for input cost increases.
In terms of new orders, BFL's Indian operations secured orders worth ₹1,352 crore in Q1 FY27, including ₹681 crore from the Defence sector. The outstanding order book for Defence reached ₹11,196 crore as of June 30, 2026. A significant achievement was the largest naval order for 12 Marine Gas Turbine Generator sets from the Ministry of Defence.
To support growth in new sectors like Defence, Aerospace, Data Centers, and semiconductors, BFL is investing approximately ₹1,800 crore over 12-18 months to set up dedicated forging and machining capabilities, including an energetics plant in Andhra Pradesh. These investments are projected to generate incremental revenues post-commissioning.
Furthermore, the board has approved a fund raise of up to ₹2,500 crore, subject to shareholder approval, through various instruments like equity shares or convertible securities via qualified institutional placement or preferential allotment.
For the full fiscal year FY27, BFL maintains its growth outlook of 20-25% for the Indian manufacturing business, expecting a more pronounced growth in the second half. The company is also re-evaluating its global manufacturing footprint, particularly concerning its EV and German Forging businesses, where achieving medium-term profitability may be challenging.
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