NSE: BHARATFORG | BSE: 500493

Mid-range Performer

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1217.30 -7.50 (-0.61%)

31.27% Fall from 52W High

406.9K NSE+BSE Volume

NSE 18 Jul, 2025 3:10 PM (IST)

58,197.7

Market Cap

Market Leader

1.4

Beta 1Year

Very High Volatility

Bharat Forge Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for BHARATFORG, BSE:500493 Bharat Forge Ltd.

Bharat Forge Ltd.

05 Jun 2021

1217.30

-0.61%

Sharp recovery seen in all businesses; upgrade EPS

Buy: Bharat Forge Ltd.

Target

Motilal Oswal

Greenfield capex with focus on the Defense and e-Mobility space Strong performance by BHFC in 4QFY21 was driven by a strong recovery in the Auto export business and resultant benefits of operating leverage. While all core businesses are expected to witness a sharp cyclical recovery, BHFC's huge plans in Defense and e-Mobility is starting to fructify with the setting up of a greenfield plant focusing on these areas. We raise our consolidated EPS by 17%/18% for FY22E/FY23E, driven by...

Bharat Forge Ltd. has an average target of 1147.33 from 3 brokers.

Bharat Forge Ltd.

03 Mar 2021

1217.30

-0.61%

Bharat Forge (Initiating Coverage): Constant evolution. BUY

Bharat Forge Ltd.

HDFC Securities

Initiate with a BUY: We set a target price of INR 720 at 32x FY23E EPS as we expect earnings growth to recover over FY22-23E. We value the stock at its average historic long-term P/E multiple to factor in (1) the pick-up in the business cycle and (2) emerging opportunities across defence and the PV segments. Key risks: a sharp increase in commodity input prices and delayed orders in defence; steel price increase could lead to margin volatility in the near term. We initiate on Bharat Forge with a BUY rating as the company is expected to benefit from its wide-ranging capabilities and near-term cyclical pick-up in CV sales. The company is diversifying its mix by increasing focus on passenger car components as well as increasing capacities in aluminium forgings (for light-weighting). To acquire new skills, it is actively investing in startups and JVs across electric vehicles/defence segments. We believe that the initiatives in the defence segment are likely to materialise (after several years) as Indias defence-based capital expenditure has risen by ~20% in FY21 and the government is aggressively pushing for localisation.

Bharat Forge Ltd. is trading above its 150 day SMA of 1194.6

Bharat Forge Ltd.

25 Feb 2021

1217.30

-0.61%

BHARAT FORGE & COMPANY LTD

Buy: Bharat Forge Ltd.

Geojit BNP Paribas

Bharat Forge Ltd. is trading above its 150 day SMA of 1194.6

Bharat Forge Ltd.

14 Feb 2021

1217.30

-0.61%

Q3FY21 Result Update - Auto shines while non-auto export struggles - HOLD

Hold: Bharat Forge Ltd.

Target

Prabhudas Lilladhar

BHFC's 3QFY21 performance was weak as realizations declined to 3- year low by ~11% YoY to Rs2.03L/ton (PLe Rs2.33L/ton). This was led by weak sales in oil & gas segment (sales at USD3m v/s normalized rate of USD25-30m) and higher PV share. Tonnage growth of 8% was led by strong traction in auto demand in both India and exports. While pickup is visible in class 8 trucks for...

Bharat Forge Ltd. has lost -26.37% in the last 1 Year

Bharat Forge Ltd.

14 Feb 2021

1217.30

-0.61%

Bharat Forge

Hold: Bharat Forge Ltd.

Target

ICICI Securities Limited

Bharat Forge (BFL) reported a steady Q3FY21 performance. Standalone revenues came in at | 1,036 crore (down 3.8% YoY) despite 8.4% YoY tonnage growth to 50,943 MT. Total India revenues were at | 516 crore (up 26.5% YoY; CV up 49.4%, PV up 27.5%, industrial up 16%). Export revenues, on the other hand, were down 19.5% YoY to | 512 crore (CV up 7.1%, PV down 8.4%, industrials down 60.1%). Standalone EBITDA for the quarter was at | 215 crore, with consequent margins at 20.7%. Margin performance was positively impacted by operating leverage, with gross...

Bharat Forge Ltd. is trading above its 150 day SMA of 1194.6

Bharat Forge Ltd.

24 Dec 2020

1217.30

-0.61%

Bharat Forge

Hold: Bharat Forge Ltd.

Target

ICICI Securities Limited

With the bulk of target customer segments viz. domestic CV, global CV space (improved new order readings of Class 8 trucks with November 2020 print coming in at ~53,000 units (~3x YoY, up ~30% MoM)), bottoming out, we expect a rapid recovery at Bharat Forge, a large part of which is captured by its prevailing valuation multiples (trading at ~32x P/E on FY23E numbers). We will keenly monitor any surprise on the operating margin front consequent to a lot of cost cutting initiatives undertaken by the company, before any meaningful upgrade. We also await outcome on scrappage...

Bharat Forge Ltd. has lost -26.37% in the last 1 Year

Bharat Forge Ltd.

16 Dec 2020

1217.30

-0.61%

Bharat Forge

Hold: Bharat Forge Ltd.

Target

ICICI Securities Limited

Domestic auto industry volumes have been on a steady mend in the months post lifting of lockdown restrictions. Manufacturing and distribution activities have been getting ramped up gradually since June 2020, in step with the rest of the economy. However, the impact of the pandemic on the supply chain continues to inhibit a complete return to production normalcy. Nevertheless, most automotive industry segments have reported successive improvement in offtake throughout June-November 2020 (Exhibit 1) on the back of (i) initial bounce provided by pent-up aspect,...

Bharat Forge Ltd. has an average target of 1147.33 from 3 brokers.

Bharat Forge Ltd.

18 Nov 2020, 12:00AM

1217.30

-0.61%

Bharat Forge

Hold: Bharat Forge Ltd.

Recommendation Target

Dolat Capital

Consol capex guidance at Rs4.5bn for FY21. Expect no major capex in 2H. to 40.8k (PLe 44.6k). The sharp decline in volumes was led by ~33%/44% YoY there has been some initial pickup in class 8 trucks (~19% of S/A revenues) along with ramp-up in PVs, the outlook for industrial remain weak with no...

Bharat Forge Ltd. has lost -26.37% in the last 1 Year

Bharat Forge Ltd.

17 Nov 2020, 12:00AM

1217.30

-0.61%

BHARAT FORGE & COMPANY LTD

Buy: Bharat Forge Ltd.

Recommendation Target

Geojit BNP Paribas

Bharat Forge Ltd (BFL) is a leading player in the forgings industry. The company is serving several sectors including automobile, power, oil and gas, rail & marine, aerospace & defence, construction, mining, etc. Total revenues in Q2FY21 declined by 30%YoY. The sharp decline is on account on continued weakness in the export Industrial business and downturn in the Commercial Vehicle sector. Margin expanded to pre-covid level at 12.1% owing to continuous restructuring and cost control measure. However a significant...