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Home arrow Alliances and Joint Ventures arrow Bharat Forge Standalone revenues increase 28% to Rs 930.7 crores
Bharat Forge Standalone revenues increase 28% to Rs 930.7 crores Print E-mail
Written by James   
Thursday, 10 November 2011
Pune: Bharat Forge Ltd., today announced its Q2 results with standalone revenue reaching Rs. 930.7 crores, a growth of 28% over the same quarter last year. Export revenues maintained the impressive growth trajectory with all round growth of 57.6% to Rs 431.6 crores over the same period previous year. Exports in to North America & Europe grew by 25.3% & 75.5% respectively.

"The derisked business model is facilitating the continuation of the company’s growth trajectory during the year with impressive growth of Exports & non auto notwithstanding the slowdown in the Indian automotive sector," said B N Kalyani, Chairman & Managing Director, Bharat Forge.

"The Non automotive business continues to do well and witness tremendous traction with good order flow and has reached 40% of the standalone business," he added.

Standalone EBITDA registered a growth of 29.2% to Rs 236.1 crores while PBT increased by 48.7% to Rs 151.2 crores. PAT for the quarter increased to Rs 106.4 crores as against Rs 68.1 crores in the same quarter previous year, a growth of 56.2%.

Domestic revenues in Q2 FY12 grew by 7.6% over the same period previous year to Rs 478.4 crores.

The overseas operations registered stable performance in the quarter with topline growing by 23.4% to Rs 6,493 million. The EBITDA margins expanded by 170 bps from 4.2% in Q2 FY11 to 5.9% in Q2 FY12 and PBT for the quarter was Rs 4 crores in Q2 FY12 as against loss of Rs 1.7 crores in the corresponding quarter previous year.

Non Automotive business continued to impress with revenues increasing 24.1% on a YoY basis fuelled by ramp up of new facilities & new order wins.

Non Auto revenue in the quarter has increased by 24.1% to Rs 3,293 million as against 2,654 million over the corresponding quarter previous year. The non auto growth in the quarter was impacted to due to slowdown in capital investments in India. Non auto contribution to the standalone business is 40%.

Contribution to the top line from the new facilities has increased by 86.4% from Rs 969 million to Rs 1,807 million. This has been achieved on back of a strategy of product extension, customer penetration & increasing value addition in products through machining. This strategy has played out very well for BFL with strong traction across sectors and increasing pipeline of order flows from both domestic and export customers.

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