Defence stock engaged in the manufacturing and selling of forged, machined components and many more to various sectors like automotive, railways, defence and others hits 10 percent upper circuit in the day’s trade upon posting its Q4FY24 results with a 78 percent jump in Net Profits.
With a market capitalization of Rs. 62,677 Crores, the shares of Bharat Forge Limited were trading at Rs. 1,301.80, up 4.97 percent from its previous day’s close price of Rs. 1,240.20.
Its revenue from operations grew by 15 percent YoY from Rs. 3,629.05 Crores in Q4FY23 to Rs. 4,164.2 Crores in Q4FY24 and it grew by 7.7 percent QoQ from Rs. 3,866.4 Crores in Q3FY24 to Rs. 4,164.2 Crores in Q4FY24. Annually it generated a revenue of Rs. 12,910.25 Crores in FY23 and Rs. 15,682.07 Crores in FY24 indicating a growth of 21.46 percent YoY.
Its Net Profit grew by 77.79 percent YoY from Rs. 127.74 Crores in Q4FY23 to Rs. 227.11 Crores in Q4FY24 and it grew by 11 percent QoQ from Rs. 254.44 Crores in Q3FY24 to Rs. 227.11 Crores in Q4FY24. Annually it generated a Net Profit of Rs. 508.38 Crores in FY23 to Rs. 910.15 Crores in FY24, indicating a growth of 79 percent.
In Addition, the Board of Directors of Bharat Forge Limited has recommended a Final Dividend at 325 percent i.e., Rs. 6.50 per equity share with a face value of Rs. 2 per share for the financial year 2023-24.
Bharat Forge Limited is engaged in the manufacturing and selling of forged and machined components for the auto and industrial sectors. It is also engaged in providing safety and critical components and solutions to various sectors including automotive, railways, defence, construction and mining, aerospace, marine, and oil and gas.
Its automotive products include engines, such as crankshaft, connecting rod, emission/after treatment and fuel injection system, chassis, such as front axle beams, steering knuckles, knuckle, fork, and reinforcement bracket, and transmission and driveline, such as transmission components and driveline components. Its power products include thermal, such as shafts and gearboxes, hydro, such as rotor and others, and wind, such as shafts and gearboxes.
Written by: Bharath K.S
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