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Bharat Forge Q2FY25 results
Industry News- Nov 15,24
BFL group's defence business posted revenue of Rs 5.09 billion in Q2 registering a jump of 67% YoY.
• Bharat Forge Ltd. reported a consolidated revenue of Rs 36.89 billion and EBITDA of Rs 6.9 billion.
• Despite a YoY revenue de-growth of 2.3% driven by weakness in European automotive markets, EBITDA grew by 10.8% resulting in margin improvement by 220 bps YoY from 16.5% to 18.7%.
• In the quarter, the group secured new orders worth Rs 12.07 billion across defence, castings (Ferrous & Aluminum) and the core forging business. The order wins for H1 FY25 amounts to Rs 22.16 billion with 2/3 coming from defence & 1/3 from components business.
• BFL group's defence business posted revenue of Rs 5.09 billion in Q2 registering a jump of 67% YoY. With order wins of Rs 6.42 billion in Q2, the executable order book as of September 30 stands at Rs 59.05 billion. The order book does not include any potential orders from domestic or export market.
• JS Auto continues to register impressive operating performance during the quarter with revenue growth of 32% to Rs 1.65 billion and EBITDA growth of 60% at Rs 200 million compared to Q2 FY24. in H1 FY25, JSA won orders worth Rs 1.73 billion and is clearly benefitting from the shift of manufacturing supply chain to India. We expect this business to continue to register strong performance in the foreseeable future.
• The overseas operations recorded sales of Rs 11.45 billion and EBITDA of Rs 160 million. The sluggish economic condition in Europe and its impact on the automotive industry is delaying the recovery in the overseas business.
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