Conference Call with Bharat Forge Management and Analysts on Q4FY22 Performance and Outlook. Listen to the full earnings transcript.
Engineering company Bharat Forge announced Q4FY22 results: Q4FY22 (Standalone): Revenues at Rs 16,741 million in Q4FY22 grew by 28.0% as compared to Q4 FY21 on back of 26.7% growth in domestic revenues and 28.5% growth in export revenues. EBITDA margins at 25.7% in Q4 FY22 improved marginally as compared to both Q3 FY22 and Q4 FY21. Absolute EBITDA has grown by healthy 29.3% in Q4 FY22 as compared to Q4 FY21. PBT before Exchange gain/ (loss) of Rs 3,520 million in Q4 FY22 as against Rs 2,509 million in Q4 FY21, a growth of 40.3% FY22 (Standalone): Robust revenue growth of 71.3% on back of sharp recovery in Domestic & Export markets and pass thru impact of raw material inflation. EBITDA in FY22 has more than doubled as compared to FY21 benefitting from a sharp increase in utilization and favorable product mix. EBITDA margins at 26.9% in FY22 as compared to 20.1% in FY21. PBT of Rs 13,288 million in FY22 has witnessed a sharp growth of 209.2% as compared to FY21. B. N. Kalyani, Chairman & Managing Director, Bharat Forge said, "The company ended the year on a strong note with topline growing by 28% to Rs 16,741 million driven by pickup in both domestic & Export markets. EBITDA margins at 25.7% in Q4 FY22 were maintained as compared to Q4 FY21, despite cost inflationary pressures. PBT for the quarter at R 3,520 million was a growth of 40.3% as compared to Q4 FY21. In FY22, the Indian operations has secured new orders worth ~ Rs 1,000 Crores across automotive & industrial application. This includes a healthy mix of existing and new customers across traditional & new products. In the international operations, new orders worth US$ 150 million have been secured across steel & Aluminum forging operations in North America. These orders wins from marquee OE Ms provides a lot of growth visibility in the medium to long term. The EV vertical has secured orders from a global EV OEM for supply of aluminum castings and its maiden order from an Indian OEM for supply of DC-DC converters. At a consolidated level, we expect FY2023 to be a strong year characterized bytopline growth coupled with strong cashflows, ramp up of the US Aluminium operations, revenue contribution from the newer verticals and a further diversified revenue mix. For the standalone business, we expect continued growth in the key markets across all sectors. Easing of cost pressures & supply chain tightness will provide a fillip to the end demand across geographies." Result PDF