Combined revenue (BFL plus its wholly owned subsidiaries) reached Rs. 1,323.8 Crores, PBT before exce ptional item reached Rs. 131.6 Crores.
Key Highlights
Bharat Forge Ltd., today announced its Q1 results with combined revenue reaching Rs. 1,323.8 Crore, a growth of 22.3%. The combined EBIDTA margin improved to 16.4%.
Stand-alone revenue & EBIDTA for Q1 reached Rs. 649.5 Crore and Rs. 168.1 Crore a growth of 25.6%, & 38.6% respectively.
As per accounting standard AS 11, the company has revalorized its foreign currency liabilities and has recognized an exchange loss of Rs 69.3 crore which is shown as exceptional item. Stand alone PAT after such exceptional item was Rs 26.6 crores.
BFL clocked impressive performance on the export front which grew by 25.6 % (adjusted for rupee depreciation) over the corresponding quarter previous year. This growth has been achieved despite sluggishness in the US & European Automotive industry.
Commenting on the results of the company Mr. B N Kalyani, Chairman & Managing Director said “The first quarter results are in line with our expectations despite the challenging environment that we continue to face.”
“Going forward, the market conditions are expected to be much more challenging in the light of continuing increase in raw material prices, high crude oil prices, and sluggishness in the Indian & global economy. However, our foray in to the non auto sector will assist BFL in maintaining its growth mome ntum.” he added.
Bharat Forge Ltd. , the flagship company of the USD 2.4 billion Kalyani Group, is a leading global ‘Full Service Supplier’ of forged and machined – engine & chassis components. It is the largest exporter of auto components from India and leading chassis component manufacturer in the world. With manufacturing facilities spread over 12 locations and 6 countries – four in India, three in Germany, one in Sweden, one in Scotland, one in North America and two in China, the company manufactures a wide range of safety and critical components for passenger cars, commercial vehicles and diesel engines. The company also manufactures specialized components for the aerospace, power, energy, railway, construction equipment, oil & gas and other industries. It is capable of producing large volume parts in both steel and aluminum.