Conference Call with Bharat Forge Management and Analysts on Q4FY25 & Full Year Performance and Outlook. Listen to the full earnings transcript.
Castings & Forgings company Bharat Forge announced Q4FY25 & FY25 results Q4FY25 Financial Highlights: Revenue: Rs 38,528 million compared to Rs 41,644 million during Q4FY24. EBITDA: Rs 6,711 million compared to Rs 6,534 million during Q4FY24. PBT: Rs 4,215 million compared to Rs 3,855 million during Q4FY24. FY25 Financial Highlights: Revenue: Rs 1,51,228 million compared to Rs 1,56,821 million during FY24. EBITDA: Rs 27,576 million compared to Rs 25,661 million during FY24. PBT: Rs 16,456 million compared to Rs 14,541 million during FY24. B.N. Kalyani, Chairman & Managing Director, Bharat Forge, said: “In Q4FY25, The company recorded Standalone Revenues of Rs 2,163 crore and EBITDA of Rs 629 crore (EBITDA margins of 29.1%) and PBT of Rs 494 crore. For the full year, revenues marginally dipped to Rs 8,844 crore as against 8,969 crore in FY24. EBITDA at Rs 2,524 crore (EBITDA margins of 28.5%) and PBT at Rs 1,972 crore saw a marginal improvement as compared to FY24. Balance sheet remained robust with cash on books of Rs 2,623 crore. At a consolidated level, revenues remained flat at Rs 15,123 crore as against Rs 15,682 crore in FY24. EBITDA margins improved from 16.4% to 18.2%. During the quarter the company secured new orders worth Rs 4,343 crore including Rs 3,417 crore towards the ATAGS order. As of March 2025, the defence order book stood at Rs 9,420 crore. Bharat Forge group secured new orders worth Rs 6,959 crore in FY25 with Defence accounting for 70% of those. The ferrous castings business has had a strong year with revenues growing by 23%, EBITDA by 35% and doubling of profits as compared to FY24 with key return ratios exceeding 20%. As JSA continues to gain market share in the small casting segment, it is also embarking on a path to expand their product offerings and enhance their productivity to deliver strong operating leverage. For FY26, as of now, we are refraining from providing any outlook for the export business (30% of consolidated revenues) due to volatility & lack of visibility caused by the tariff situation. Our focus will be on improving the consolidated profitability driven by the following internal actions; reducing losses in the E-Mobility vertical; evaluating options for the steel business in Europe; improving operational performance in the Aluminum business leading to meaningful reduction in losses; leveraging our manufacturing footprint in North America to garner new business; focus on new business wins in traditional forgings, Defence, Aerospace & castings business to ensure continuation of momentum. The integration of AAM India business will occur in FY26 and we will leverage that platform to further our product portfolio and presence in India.” Result PDF