Bharat Forge Ltd., incorporated in the year 1961, is a Large Cap company (having a market cap of Rs 35424.31 Crore) operating in Auto Ancillaries sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 2135.23 Crore, up 21.24 % from last quarter Total Income of Rs 1761.11 Crore and up 18.91 % from last year same quarter Total Income of Rs 1795.60 Crore. Company reported net profit after tax of Rs 236.65 Crore in latest quarter.
Investment Rationale
The brokerage raises consolidated EPS by 17%/18% for FY22E/FY23E, driven by revenue upgrades due to a strong cyclical recovery. The brokerage maintains Buy rating with a TP of INR850/share (28x Mar’23E EPS).
Promoter/FII Holdings
Promoters held 45.8 per cent stake in the company as of March 31, 2021, while FIIs held 24.9 per cent, DIIs 12.5 per cent and public and others 16.9 per cent.
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