Pune: Bharat Forge Ltd (NSE: BHARATFORG), a global leader in advanced manufacturing and engineering solutions, has announced its financial results for the fourth quarter and full fiscal year ended March 31, 2025. The company posted strong standalone and consolidated performances, backed by steady margins, strategic order wins, and a sharp focus on the defence and manufacturing segments.
Bharat Forge Ltd: Q4 FY25 Standalone Highlights
- Revenue: ₹2,163 crore
- EBITDA: ₹629 crore (29.1% margin)
- PBT: ₹494 crore
FY25 Standalone Highlights
- Revenue: ₹8,844 crore, a marginal dip of 1.4% YoY
- EBITDA: ₹2,524 crore (28.5% margin)
- PBT: ₹1,972 crore
- Cash on books: ₹2,623 crore
Despite global market volatility, Bharat Forge Ltd maintained a strong balance sheet and continued to invest in future-focused verticals. At a consolidated level, revenues stood at ₹15,123 crore, with EBITDA margins improving from 16.4% to 18.2%.
Defence Orders Power Growth
In Q4, Bharat Forge secured new orders worth ₹4,343 crore, including ₹3,417 crore under the Advanced Towed Artillery Gun System (ATAGS) project. As of March 2025, the company’s defence order book reached ₹9,420 crore. Cumulatively, the Bharat Forge Group won new orders worth ₹6,959 crore during FY25, with defence accounting for 70% of the total.
Ferrous Castings and Subsidiary Growth
The ferrous castings business outperformed with a 23% increase in revenue, 35% EBITDA growth, and doubled profits compared to FY24. Subsidiary JSA continued gaining market share in the small casting segment and is set to diversify its portfolio further.
Strategic Outlook for FY26
With 30% of its consolidated revenue exposed to exports, Bharat Forge remains cautious due to tariff and geopolitical uncertainties. However, the company aims to drive profitability through strategic actions:
- Minimize losses in the E-Mobility vertical
- Enhance operational efficiency in Aluminium manufacturing
- Explore strategic options for the European steel business
- Expand through the integration of AAM India
- Accelerate business in Defence, Aerospace, and traditional forgings
- Leverage North American manufacturing footprint for new customer acquisitions
Bharat Forge Ltd’s strategic focus on innovation, efficiency, and market expansion reaffirms its commitment to long-term value creation across its diversified industrial portfolio.
