|
10 Jul 2025 |
Bharat Forge
|
Consensus Share Price Target
|
1234.80 |
1186.15 |
- |
-3.94 |
hold
|
|
|
|
|
07 May 2023
|
Bharat Forge
|
Motilal Oswal
|
1234.80
|
985.00
|
760.25
(62.42%)
|
Target met |
Buy
|
|
|
|
|
06 May 2023
|
Bharat Forge
|
ICICI Securities Limited
|
1234.80
|
773.00
|
760.25
(62.42%)
|
Target met |
Hold
|
|
|
Bharat Forge’s (BHFC) Q4FY23 standalone EBITDA margin at 26.2% was largely in line with consensus estimates, with adjusted PAT and sales tonnage being up ~11% YoY each. Foreign subsidiary’s EBITDA margin continued to impact overall profitability, and earnings remained in the negative zone (negative 4%) for the third quarter in a row, though up 200bps QoQ.
|
|
17 Feb 2023
|
Bharat Forge
|
Geojit BNP Paribas
|
1234.80
|
942.00
|
862.40
(43.18%)
|
Target met |
Accumulate
|
|
|
|
|
15 Feb 2023
|
Bharat Forge
|
ICICI Securities Limited
|
1234.80
|
894.00
|
873.50
(41.36%)
|
Target met |
Hold
|
|
|
Bharat Forge’s (BHFC) Q3FY23 standalone EBITDA margin at 25.3% was in line with our estimate, and up 100bps QoQ. Revenue growth (5% QoQ) was led by 3% tonnage growth QoQ, supported by ~2% rise in blended realisation.
|
|
15 Feb 2023
|
Bharat Forge
|
ICICI Direct
|
1234.80
|
1050.00
|
835.70
(47.76%)
|
Target met |
Buy
|
|
|
|
|
30 Jan 2023
|
Bharat Forge
|
Motilal Oswal
|
1234.80
|
1015.00
|
865.10
(42.73%)
|
Target met |
Buy
|
|
|
|
|
12 Dec 2022
|
Bharat Forge
|
Prabhudas Lilladhar
|
1234.80
|
1005.00
|
889.45
(38.83%)
|
Target met |
Buy
|
|
|
|
|
12 Dec 2022
|
Bharat Forge
|
ICICI Securities Limited
|
1234.80
|
904.00
|
889.45
(38.83%)
|
Target met |
Accumulate
|
|
|
We attended the recently-held Bharat Forge (BHFC) investor day and following are the key takeaways: a) Post executing revenue/EBITDA CAGRs of ~6%/~7% in past 10 years across business cycles, BHFC is aiming at >12% revenue CAGR in the coming 5-10 years.
|
|
11 Dec 2022
|
Bharat Forge
|
ICICI Direct
|
1234.80
|
1000.00
|
857.40
(44.02%)
|
Target met |
Buy
|
|
|
|
|
11 Dec 2022
|
Bharat Forge
|
Motilal Oswal
|
1234.80
|
985.00
|
869.25
(42.05%)
|
Target met |
Buy
|
|
|
|