Bharat Forge Ltd gained for a fifth straight session today. The stock is quoting at Rs 773.65, up 0.78% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.24% on the day, quoting at 17708.45. The Sensex is at 59371.23, up 0.21%. Bharat Forge Ltd has risen around 8.59% in last one month.

Meanwhile, Nifty Bank index of which Bharat Forge Ltd is a constituent, has risen around 2.59% in last one month and is currently quoting at 13246.1, up 0.13% on the day. The volume in the stock stood at 7.65 lakh shares today, compared to the daily average of 20.91 lakh shares in last one month.

The benchmark September futures contract for the stock is quoting at Rs 769.85, up 1.06% on the day. Bharat Forge Ltd is down 0.46% in last one year as compared to a 1.99% spurt in NIFTY and a 30.63% spurt in the Nifty Bank index.

The PE of the stock is 32.96 based on TTM earnings ending June 22.

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Bharat Forge Ltd is up for a third straight session today. The stock is quoting at Rs 763.45, up 1.58% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.12% on the day, quoting at 17564.15. The Sensex is at 58883.55, up 0.2%. Bharat Forge Ltd has risen around 5.04% in last one month.

Meanwhile, Nifty Bank index of which Bharat Forge Ltd is a constituent, has risen around 3.07% in last one month and is currently quoting at 13266.15, up 0.38% on the day. The volume in the stock stood at 10.89 lakh shares today, compared to the daily average of 19.86 lakh shares in last one month.

The benchmark September futures contract for the stock is quoting at Rs 760.8, up 1.32% on the day. Bharat Forge Ltd is down 3.52% in last one year as compared to a 1.39% spurt in NIFTY and a 31.52% spurt in the Nifty Bank index.

The PE of the stock is 32.28 based on TTM earnings ending June 22.

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Bharat Forge Ltd is down for a fifth straight session today. The stock is quoting at Rs 727.15, down 1.2% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 1.15% on the day, quoting at 17554.85. The Sensex is at 58978.24, down 1.12%.Bharat Forge Ltd has added around 3.11% in last one month.Meanwhile, Nifty Bank index of which Bharat Forge Ltd is a constituent, has increased around 2.91% in last one month and is currently quoting at 12946.45, down 1.24% on the day. The volume in the stock stood at 6.38 lakh shares today, compared to the daily average of 21.86 lakh shares in last one month.

The benchmark August futures contract for the stock is quoting at Rs 724.05, down 1.53% on the day. Bharat Forge Ltd jumped 1.04% in last one year as compared to a 6.42% rally in NIFTY and a 31.01% spurt in the Nifty Bank index.

The PE of the stock is 31.54 based on TTM earnings ending June 22.

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EBITDA improved by 17.6% to Rs 460 crore in Q1 FY23 from Rs 391 crore in Q1 FY22. EBITDA in Q1 FY23 was 26.1% in Q1 FY23 as against 28.5% in Q1 FY22.

Profit before tax in Q1 FY23 stood at Rs 353.2 crore, up by 25.3% from Rs 281.8 crore in Q1 FY22.

B.N. Kalyani, chairman & MD of the company said, The company's performance in Q1 FY23 was steady with revenue and EBITDA witnessing growth on a sequential basis. Topline grew by 5.1% QoQ to Rs 17,594 million while EBITDA grew by 6.8% QoQto Rs 4,600 million. Export revenues at Rs 10,475 million and PV export revenues at Rs 1,942 million are at an all time high.

We have completed the acquisition of JS Autocast Pvt Limited, at an Enterprise Value of Rs 489.63 Crores. This acquisition significantly enhances our capabilities to address segments in Industrial and energy sector in both domestic and exports markets and also opens up new products, we hitherto were not making.

During the quarter, the Indian operations secured new business worth approximately Rs 350 Crores across automotive & industrial application.

At a consolidated level, the European operations have delivered a stable performance as per plan, in-spite of high input prices and weak market conditions. The new Greenfield Aluminium Forging facility in North America is still in a ramp-up phase and operating at low utilization levels which has adversely impacted the overall quarterly profitability. We expect this business to turnaround in second half of the fiscal.

Looking ahead in to Q2 FY23, we expect stable performance across both the domestic and export markets despite uncertainty arising from the macro economic headwinds caused by monetary tightening.

Bharat Forge manufactures an extensive array of critical and safety components for several sectors including automobiles (across commercial & passenger vehicle), oil & gas, aerospace, locomotives, marine, energy (across renewable and non-renewable sources), construction, mining and general engineering.

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