Bharat Forge Limited's (BFL) Q4FY15 performance was below expectations, despite recording healthy YoY growth. In Q4FY15, its Revenue/EBIDTA/adj PAT grew by 31.5%/56%/83% YoY and 2.2%/-0.7%/3.3% QoQ, but lower than our estimate by 7%/12%/13% respectively.