Bharat Forge Q2 Results 2024:Bharat Forge declared its Q2 results for 2024 on November 14, 2024. The company experienced a topline decrease of 2.27% year-over-year, while profit rose by 7.2%. The profit for the quarter stood at ₹243.59 crore, with total revenue recorded at ₹3688.51 crore. Compared to the previous quarter, revenue declined by 10.17%, but profit saw an increase of 20.11%.
In terms of operational efficiency, the Selling, General & Administrative expenses fell by 6.32% quarter-over-quarter, although they increased by 0.98% year-over-year. This suggests a focused effort by the company to streamline costs while still managing to grow profits.
The operating income reflected positive growth, up by 16.98% quarter-over-quarter and 6.36% year-over-year. This increase in operating income highlights the company's ability to manage its core business effectively despite the challenges faced in revenue generation.
Earnings per share (EPS) for Q2 was reported at ₹5.23, marking a 6.55% increase year-over-year. This positive EPS growth is an encouraging sign for investors amidst the overall revenue decline.
Over the past week, Bharat Forge shares have delivered a return of -8.15%, with a more significant decline of -10.4% over the last six months. However, on a year-to-date basis, the stock has shown resilience with a 7.3% return. The current market capitalization stands at ₹61865.09 crore, with a 52-week high of ₹1804.5 and a low of ₹1049.1.
Analyst sentiment surrounding Bharat Forge remains mixed. As of November 15, 2024, out of 24 analysts covering the company, 4 have assigned a Strong Sell rating, 4 have given a Sell rating, 3 have rated it as Hold, 10 have a Buy rating, and 3 have assigned a Strong Buy rating. The consensus recommendation suggests a Hold position.
Overall, Bharat Forge's Q2 results showcase a mixed performance with profits rising, yet revenue facing challenges. The company's strategic cost management appears to be effective, but analysts remain cautious as they assess the company's future trajectory.
Bharat Forge Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 3688.51 | 4106.15 | -10.17% | 3774.19 | -2.27% |
| Selling/ General/ Admin Expenses Total | 467.24 | 498.74 | -6.32% | 462.72 | +0.98% |
| Depreciation/ Amortization | 213.35 | 218.27 | -2.25% | 211.33 | +0.95% |
| Total Operating Expense | 3254.58 | 3735.22 | -12.87% | 3366.19 | -3.32% |
| Operating Income | 433.93 | 370.93 | +16.98% | 408 | +6.36% |
| Net Income Before Taxes | 385.76 | 298.86 | +29.08% | 336.15 | +14.76% |
| Net Income | 243.59 | 202.81 | +20.11% | 227.22 | +7.2% |
| Diluted Normalized EPS | 5.23 | 6.26 | -16.43% | 4.91 | +6.55% |
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