Pune: Bharat Forge Ltd., a global leader in advanced manufacturing and engineering solutions, today announced Q1 FY26 financial results (Bharat Forge Q1 FY26), demonstrating operational resilience amid volatile global export markets.
The company delivered ₹3,909 crore in consolidated revenue, backed by robust domestic demand and a significant boost from its defence vertical.
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Bharat Forge Q1 FY26 – Key Highlights (Standalone)
- Revenue: ₹2,105 crore (down 2.7% QoQ)
- EBITDA: ₹588 crore, with strong margins of 27.9%
- Profit Before Tax (PBT): ₹465 crore
- Profit After Tax (PAT): ₹339 crore
- New Orders: ₹847 crore total, with ₹269 crore in Defence
- Defence Order Book: Now at ₹9,463 crore
Bharat Forge Q1 FY26: Consolidated Financial Performance
- Total Revenue: ₹3,909 crore
- EBITDA: ₹682 crore, EBITDA margin of 17.5%
- PBT (before exceptional items): ₹423 crore
Baba Kalyani, Chairman and Managing Director, Bharat Forge, said: “We secured ₹847 crore in new orders this quarter, including ₹269 crore from defence, further strengthening our robust ₹9,463 crore order book. While the US and Europe markets pose uncertainties due to tariffs and evolving emission norms, both regions showed improved performance and are now cash profitable. We remain cautious yet focused on capturing opportunities in stable markets and enhancing cost efficiencies to mitigate macroeconomic pressures.”
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Bharat Forge Q1 FY26: Business Segment Performance
- Domestic Market: Strong momentum across Passenger Vehicle and Industrial segments. Defence execution remained on track.
- Exports: Declined 12.7% QoQ, primarily due to uncertainty in North America linked to emission regulations and trade policies. However, Europe showed initial signs of recovery.
- International Operations: EBITDA margins improved across US and European subsidiaries. Aluminium operations witnessed better execution. The European steel manufacturing footprint review remains on track, with strategic decisions expected by year-end.
Bharat Forge Q1 FY26: Strategic Focus
With evolving global regulatory frameworks and tariff structures – especially in the US – Bharat Forge is strategically diversifying its portfolio, emphasizing defence, industrial, and domestic automotive growth. Its international subsidiaries are now generating cash profits, indicating successful turnaround initiatives.
Bharat Forge’s long-term strategy remains focused on:
- Enhancing cost optimization
- Driving sectoral diversification
- Strengthening global and domestic defence presence
- Accelerating operational efficiency
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Defence: A Strong Growth Driver
With over ₹9,400 crore in confirmed orders, the defence vertical continues to be a key pillar in Bharat Forge’s long-term strategy. The company remains confident of securing additional defence contracts through FY26, further solidifying revenue visibility.
