Bharat Forge Q1 FY27: Revenue up 18.7% to ₹4,640 Cr, Defence orders ₹1,352 Cr
Bharat Forge reported Q1 FY27 consolidated revenue of ₹4,640 crore, up 18.7% YoY. Standalone revenue grew 11.5% YoY. The company secured new orders worth ₹1,352 crore, with ₹681 crore from Defence. An investment of ₹1,800 crore is planned over 12-18 months. A fund raise of up to ₹2,500 crore is approved.
The results show robust growth and significant new orders, indicating strong business performance. The planned large investments and fund-raising activity suggest strategic expansion and future growth potential, which will have a high impact on the company's trajectory.
The company reported strong year-on-year growth in both consolidated and standalone revenues, along with significant new order wins, particularly in the Defence sector. Planned investments and a positive growth outlook further contribute to the positive sentiment.
Bharat Forge Limited announced its unaudited financial results for the quarter ended June 30, 2026. The company reported a consolidated revenue of ₹4,640 crore, an increase of 18.7% year-on-year. EBITDA for the consolidated business grew by 10.2% year-on-year to ₹752 crore, with an EBITDA margin of 16.2%.
On a standalone basis, the company achieved a topline growth of 11.5% year-on-year, with EBITDA margins at 26.2%. Despite input cost pressures, normalized EBITDA margins were 28%. Revenues for the standalone business stood at ₹23,474 million (₹2,347.4 crore), with PBT before exceptional items at ₹4,902 million (₹490.2 crore).
Indian operations secured new orders worth ₹1,352 crore in Q1 FY27, including ₹681 crore from the Defence sector. The outstanding order book for Defence was ₹11,196 crore as of June 30, 2026. A significant development was the signing of the company's largest naval order for 12 Marine Gas Turbine Generator sets with the Ministry of Defence.
Bharat Forge is investing approximately ₹1,800 crore over the next 12-18 months to establish dedicated forging and machining capabilities for sunrise sectors, including an energetics plant in Andhra Pradesh. The company maintains a growth outlook of 20-25% for its Indian manufacturing business in FY27, expecting a more pronounced growth in the second half of the fiscal.
The board has approved a fund raise of up to ₹2,500 crore, subject to shareholder approval, through various methods including qualified institutional placement or preferential allotment.
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