Bharat Forge
Bharat Forge Q4 FY26 earnings call: Revenue & Margins
Q4 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
India business expected to grow close to 25% in FY 2027, driven by strong execution and growth across sectors. The aerospace business is expected to see strong double-digit growth, significantly higher than overall company growth, targeting INR 1,000 crores or more in the next 3 years.
From Bharat Forge's Q4 FY26 earnings-call transcript · updated 23 Sept 2026.
Revenue & Sales Performance
- India business expected to grow close to 25% in FY 2027, driven by strong execution and growth across sectors.
- Aerospace business targeting revenue exceeding INR 1,000 crores within 3 years, with margins above company average.
- Defense business to continue strong growth with new order wins (e.g., ATAGS, CQB carbine) ramping up revenue starting this year.
- Stable demand expected in U.S. commercial vehicle and passenger car segments; Europe stable but contingent on geopolitical developments.
- Overseas restructuring likely to reduce losses and improve overseas subsidiaries' performance.
- New business wins across jet engine structure, landing systems, naval and drone systems to drive top-line growth.
- Casting unit JSA growing in revenue and profitability, with plans to expand customer base.
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Profitability & Margins
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Capital Expenditure Plans
- Ongoing capital expenditure between last year and this year is about INR 800 crores.
- Planning to set up an explosives manufacturing facility in Andhra Pradesh, with groundbreaking expected around May 2026 and significant capex likely by FY28.
- Preparatory work to start on a new facility (possibly in the data center or related areas) this month, with construction expected to begin by end of this year, and readiness for pilot production aimed within roughly 24 months.
- No aggressive pursuit of data center server manufacturing but exploring specialty opportunities for domestic-made servers.
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Top-ranked in Auto Components
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- Bharat Forge has defense orders worth approximately INR 4,800 crores, including INR 2,800 crores in new orders.
- New defense orders and bids span naval and drone systems, with multiple new products developed and fielded for various platforms including Navy.
- Key revenue ramp-up milestones include ATAGS production starting in the second half of the year and CQB Carbine production initiation.
- Orders from data center-related products will begin ramping up slowly from the third and fourth quarters, picking up significantly next year.
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Bharat Forge — 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.
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What Bharat Forge Ltd's management said in earlier quarters
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- Remsons Ind (Q4 FY26)
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- Viaz Tyres (Q4 FY26)
FY26 revenue was ₹108.34 crores, up 89.2% YoY; H2 FY26 revenue surged 127.6% YoY to ₹65.74 crores. Key concall takeaways from Viaz Tyres's Q4 FY26 earnings…
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Frequently Asked Questions
What were Bharat Forge Q4 FY26 results?
India business expected to grow close to 25% in FY 2027, driven by strong execution and growth across sectors. The aerospace business is expected to see strong double-digit growth, significantly higher than overall company growth, targeting INR 1,000 crores or more in the next 3 years.
What is Bharat Forge share price analysis?
Bharat Forge currently shows a neutral. The stock trades at a P/E of 92.9 with a market cap of ₹93,806 Cr. Investors should review the full earnings analysis for detailed insights.
Is Bharat Forge planning capital expenditure?
Ongoing capital expenditure between last year and this year is about INR 800 crores.
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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.