Bharat Forge Ltd
Bharat Forge Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Bharat Forge expects strong growth in its defense and aerospace segments over the next 2-3 years, driven by new programs and capacity additions. Defense business expected to grow strongly with 30%-40%+ growth in the near term.
From Bharat Forge Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Bharat Forge expects strong growth in its defense and aerospace segments over the next 2-3 years, driven by new programs and capacity additions.
- Defense business has potential to grow significantly, potentially contributing 20-30% of total revenue in 2-3 years.
- Domestic automotive business shows strong growth, supported by GST reforms and positive trade deal impacts.
- Passenger vehicle exports are growing, with ongoing opportunities being actively addressed.
- The global truck business in the US is showing signs of bottoming out; incoming orders are increasing, indicating a potential upcycle.
- Acquisition of American Axle has been successful, with margin improvement and new business wins.
- The company is focused on organic and inorganic growth, including new product development and global opportunities.
2 more points from Bharat Forge Ltd's call on revenue
Pro opens every point from 15K+ earnings calls
Profitability & Margins
See what Bharat Forge Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Bharat Forge plans to invest up to INR 3,000 crores as part of a larger INR 17,000 crore project involving the Kalyani Group (including Kalyani Steel and Saarloha) focusing on specialty steel, superalloys, forging, machining, and casting facilities.
- This large project involves setting up a specialty steel plant (700,000 tons capacity by Kalyani Steel), a superalloy plant by Saarloha, and forging/machining/casting by relevant group companies.
- No immediate capex expected in the next 1-2 years from Bharat Forge’s side for this project; next growth phase will commence post current Baramati expansions.
- Bharat Forge is also setting up new defense facilities to handle long-term orders in strategic sectors.
2 more points from Bharat Forge Ltd's call on capex
Pro opens every point from 15K+ earnings calls
Fundraising & Capital Structure
See what Bharat Forge Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Recent new business wins totaled INR 2,388 crores across key segments: components (INR 378 crores), defense (INR 1,878 crores), casting (INR 78 crores), and K Drive (INR 55 crores).
- Defense order book grew by over INR 1,500 crores quarter-on-quarter.
- The small arms (carbine) contract order spans 5 years; other defense orders mostly have a 4-year execution period.
- The company is working on multiple new defense programs and product developments but has not disclosed details pending bid placements.
- The overall defense order book and pipeline are expected to grow significantly, with potential for defense revenues to reach 20%-30% of total business in 2-3 years, driven by domestic and global opportunities.
2 more points from Bharat Forge Ltd's call on order book
Pro opens every point from 15K+ earnings calls
Bharat Forge Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹4.5K Cr, net profit ₹233 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
Full financials →Continue your research
What Bharat Forge Ltd's management said in earlier quarters
Others in Auto Components this season
- India Nippon Electricals Ltd (Q3 FY26)
Year-on-year (YoY) revenue growth for Q3-FY26: 26.6% . Key investor presentation takeaways from India Nippon Electricals Ltd's Q3 FY26 investor presentation — a
- The Hi-Tech Gear (Q3 FY26)
Q3-FY26 Consolidated Operational Revenue: INR 2,235 Mn, up 9.0% YoY (Page 13, 16) . Key investor presentation takeaways from The Hi-Tech Gears Ltd's Q3 FY26 inv
- Rane (Madras) Ltd (Q3 FY26)
Consolidated Revenue Q3 FY26:** Rs 1,019.1 Cr, up 21.3% YoY (Page 12) . Key investor presentation takeaways from Rane (Madras) Ltd's Q3 FY26 investor presentati
- Pritika Auto (Q3 FY26)
Q3 FY26 consolidated net revenue: ₹113.43 crore, up 40.64% YoY from ₹80.65 crore in Q3 FY25. Key investor presentation takeaways from Pritika Auto Industries Lt
Arthneeti Pro · Annual
Bharat Forge Ltd and 15K+ more earnings calls,
for less than your morning chai
a day
Every earnings call, ranking and concall Q&A across all four results seasons.
Secure Razorpay payment · instant access
Frequently Asked Questions
What were Bharat Forge Ltd Q3 FY26 results?
Bharat Forge expects strong growth in its defense and aerospace segments over the next 2-3 years, driven by new programs and capacity additions. Defense business expected to grow strongly with 30%-40%+ growth in the near term.
What is Bharat Forge Ltd share price analysis?
Bharat Forge Ltd currently shows a neutral. The stock trades at a P/E of 97.8 with a market cap of ₹98,725 Cr. Investors should review the full earnings analysis for detailed insights.
Is Bharat Forge Ltd planning capital expenditure?
Bharat Forge plans to invest up to INR 3,000 crores as part of a larger INR 17,000 crore project involving the Kalyani Group (including Kalyani Steel and Saarloha) focusing on specialty steel, superalloys, forging, machining, and casting facilities.
Keep Bharat Forge Ltd on your radar — track it to get its next earnings analysis in your feed.
This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.