Bharat Forge Q2 FY27 Results: Consolidated Net Profit ₹279 Crore on Total Income of ₹4,917 Crore
- Earnings
- Forgings and defence
Reviewed byKeshav SehgalBlacklitt Research
Bharat Forge (NSE: BHARATFORG) reported consolidated total income of ₹4,917.49 crore and net profit of ₹278.68 crore for the quarter ended 30 Sep 2026, it said in a filing on 05 Nov 2026. Standalone total income was ₹2,557.23 crore and standalone net profit ₹370.83 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹4,917.49 crore, up 20.4% YoY and 4.7% QoQ
- Net profit and EPS: ₹278.68 crore, down 6.9% YoY; EPS ₹5.77 against ₹6.26
- Finance costs: ₹96.92 crore, up 21.0% YoY
- Exceptional items: Restructuring of German subsidiary Bharat Forge CDP GmbH in the quarter
Standalone
The company on its own, without its subsidiaries
- Total income: ₹2,557.23 crore, up 28.3% YoY and 7.4% QoQ
- Net profit and EPS: ₹370.83 crore, up 19.6% YoY; EPS ₹7.74 against ₹6.48
- Finance costs: ₹48.48 crore, up 0.4% YoY
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 4,917.49 | 4,085.44 | +20.4% | 4,697.19 | +4.7% | |
| Revenue from operations | 4,869.97 | 4,031.93 | +20.8% | 4,639.94 | +5.0% |
| Other income | 47.52 | 53.51 | -11.2% | 57.25 | -17.0% |
| 278.68 | 299.28 | -6.9% | -89.89 | n/a | |
| Profit before tax | 417.88 | 456.83 | -8.5% | 44.44 | +840.2% |
| Finance costs | 96.92 | 80.09 | +21.0% | 89.71 | +8.0% |
| Depreciation | 269.76 | 240.89 | +12.0% | 263.28 | +2.5% |
| Tax expense | 139.20 | 157.55 | -11.7% | 134.33 | +3.6% |
| Net profit margin | 5.67% | 7.33% | -1.66 pp | -1.91% | +7.58 pp |
| EPS, basic (₹) | 5.77 | 6.26 | -7.8% | -1.88 | n/a |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit fell while income rose. Total income rose 20.4% YoY to ₹4,917.49 crore, with revenue from operations up 20.8%, but net profit of ₹278.68 crore was 6.9% below the ₹299.28 crore of Q2 FY26. Profit before tax fell 8.5% to ₹417.88 crore, and tax expense fell 11.7% to ₹139.20 crore.
Finance costs rose 21.0% to ₹96.92 crore, faster than total income, while depreciation rose 12.0% to ₹269.76 crore and other income fell 11.2% to ₹47.52 crore. Set side by side, the cost lines grew while other income shrank.
Exceptional items in the quarter relate to restructuring of German subsidiary Bharat Forge CDP GmbH, the filing says. The consolidated results for the June quarter include a restructuring provision for BF CDP's social plan with the Works Council, and the June quarter shows a net loss of ₹89.89 crore in the table above.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 2,557.23 | 1,993.33 | +28.3% | 2,381.67 | +7.4% | |
| Revenue from operations | 2,526.36 | 1,946.86 | +29.8% | 2,347.42 | +7.6% |
| Other income | 30.87 | 46.46 | -33.6% | 34.25 | -9.9% |
| 370.83 | 309.94 | +19.6% | 321.40 | +15.4% | |
| Profit before tax | 497.27 | 430.14 | +15.6% | 437.26 | +13.7% |
| Finance costs | 48.48 | 48.29 | +0.4% | 43.19 | +12.2% |
| Depreciation | 117.02 | 111.20 | +5.2% | 115.00 | +1.8% |
| Tax expense | 126.45 | 120.20 | +5.2% | 115.87 | +9.1% |
| Net profit margin | 14.50% | 15.55% | -1.05 pp | 13.49% | +1.01 pp |
| EPS, basic (₹) | 7.74 | 6.48 | +19.4% | 6.72 | +15.2% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose more slowly than total income year on year. Net profit grew 19.6% to ₹370.83 crore, while total income rose 28.3% to ₹2,557.23 crore and revenue from operations rose 29.8% to ₹2,526.36 crore.
Other income fell 33.6% to ₹30.87 crore, and finance costs were nearly flat at ₹48.48 crore, up 0.4%. Tax expense rose 5.2% to ₹126.45 crore, against profit before tax up 15.6% to ₹497.27 crore.
Against the June quarter, net profit rose 15.4% and total income 7.4%. EPS of ₹7.74 was 19.4% above the ₹6.48 of Q2 FY26.
Inference
The filing says the company issued 10,582,010 equity shares through QIP in the quarter at ₹1,890 per share, raising ₹2,000 crore, and that the proposed investment of not exceeding ₹290.51 crore in KSSL will be funded from those proceeds and completed on or before 31 Mar 2027.
The filing says KSSL is a related party, that the investment is on an arm's length basis and that no promoter or promoter group interest is stated. It does not state the returns expected from the KSSL investment or the timing of savings from the BF CDP restructuring.
The filing also says the Voluntary Retirement Scheme at the Mundhwa Plant has been extended up to 31 Mar 2027.
Filed with BSE on . Reference: Original filing (PDF)
Disclaimer:
The information available on this article is provided for education and informational purposes only. It does not constitute or provide financial, investment or trading advice and should not be construed as an endorsement of any specific stock or financial strategy in any form or manner. We do not make any representations or warranties regarding the quality, reliability, or accuracy of the information provided. This website may contain links to third-party content. We are not responsible for the content or accuracy of these external sources and do not endorse or verify the information provided by third parties. We are not liable for any decisions made or actions taken based on the information provided on this website.
