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Bharat Forge: Growth story continues

Oct 26, 2004

Bharat Forge, world’s second largest forging company, has reported robust 2QFY05 and 1HFY05 results. During the quarter, while the topline of the company has grown by a strong 42% YoY, pressure at the operating level and higher tax provisioning has resulted into the bottomline growing at a lower rate of 29% YoY. The corresponding figures for the first half stood at 40% and 29% respectively.

Exide: Will it continue to charge?

Sep 22, 2004

Riding on the back of robust auto sales, Exide, India's largest automotive battery manufacturer has seen some significant buying interest in recent times. In this article let us throw some light on the company's recent performance and on the future prospects of the same.

Identifying an auto anc. stock: Do's and don'ts

May 31, 2004

In Views on News, Equitymaster has tried to highlight here some factors one should keep in mind before investing in an Auto ancillary company. Know more

Bharat Forge: Eyeing global leadership

Apr 7, 2004

Bharat Forge (BFL), the world's second largest forging company, is aiming to acquire global leadership and in order to fulfill these global designs, the company acquired a Germany based blue chip forging company, Carl Den Peddinghaus (CDP), for a total consideration of US$ 35 m (Rs 1.5 bn). In this article, let us try and analyse the current deal and also have a look as to what the company is further doing to achieve global leadership.

Auto ancillaries: In the driver’s seat

Mar 1, 2004

While some Indian companies were winning plaudits for their work in the services field such as IT (information technology) and BPO (business process outsourcing), companies from the manufacturing sector weren’t exactly treading the same path. However, if the developments that have taken place recently in the auto ancillary industry are any indication, it will not be long before the domestic auto ancillary industry does a repeat act. And this newfound optimism in the industry is not without reaso

Auto ancillaries: Huge potential

Jan 5, 2004

While some Indian companies were winning plaudits for their work in the services field such as IT and BPO, companies from the manufacturing sector weren't exactly treading the same path. However, if the developments that have taken place recently in the auto ancillary industry are any indication, it won’t be long before the auto ancillary industry in the country does a repeat act. And this newfound optimism in the industry is not without reason.

Sundram Fasteners: Global designs

Dec 24, 2003

Sundram Fasteners Limited (SFL), one of the largest manufacturers in the fastener industry, recently acquired the precision forging business of Dana Spicer Europe for a total consideration of GBP 1.5 m (Rs 12 crores). The division is located at Northumberland UK and has been hived off as a new company called Cramlington Precision Forge Ltd (CPFL) and would be a fully owned subsidiary of SFL.

MICO: An overview

Dec 19, 2003

Motor Industries Company Limited (MICO), a member of the Bosch Group (Germany), is the country's leading manufacturer of automotive Spark Plugs and Diesel Fuel Injection Equipment. In addition, MICO also manufactures Industrial Equipment, Auto Electricals and Hydraulic Gear Pumps for tractor applications.

Bharat Forge: Poised for higher growth

Dec 15, 2003

Bharat Forge, one of the largest forging companies in the world, was in the news recently on account of the company’s acquisition of a German forging company, Carl Den Peddinghaus GmbH.

Apollo Tyres Vs Michelin

Dec 1, 2003

In a move that will have wide ranging implications on the Indian tyre industry, Apollo Tyres, India's largest manufacturer of bus and truck tyres, joined hands with Michelin, a transnational player, to manufacture tyres for the truck and the passenger car industry.

Bharat Forge: The propellant shifts

Oct 22, 2003

Bharat Forge, one of the largest forging companies in the world, has reported robust results for 2QFY04. While the topline of the company has grown 40% YoY, the bottomline of the company has registered an impressive growth of 70%. However, operating margins have declined by 330 basis points due to higher input costs.

Munjal Showa – Riding high

Oct 13, 2003

Munjal Showa was formed as collaboration between the Hero Group (39%) and Showa Corporation, Japan (26%). The company is the sole supplier of shock absorbers to Hero Honda Motorcycles and Honda Scooters and Motorcycles. Bulk of the company’s revenues is generated from the two-wheeler segment.

Bharat Forge: The leap widens

Jul 15, 2003

Bharat Forge has posted a sharp rise in revenues and net profit for the first quarter ended June 2003. The conscious effort by the company to grow revenues from international markets continues to lead growth in revenues and profitability. However, manufacturing cost related pressures has affected operating margins in 1QFY04 marginally.

Bharat Forge: Going global

May 26, 2003

Bharat Forge recently announced its full year performance. The concerted efforts by the company to improve productivity and tap global OEM auto manufacturers have yielded positive results in FY03. Going by the order book position, FY04 is expected to be yet another good year for the company.

Bharat Forge: Will valuations hold?

Feb 20, 2003

Bharat Forge (BFRG) is among the select few Indian companies that operate on a global scale and are increasing making a dent in market share of international players. After restructuring, the company's focus on increasing contribution from exports have yielded positive results, which is also reflected in its share price movement on the stock markets. The stock is trading at its 52-week high and has appreciated almost 170% since February 2002. Given this backdrop, we take a look at the company's

Bharat Forge: Export gears performance

Oct 21, 2002

Bharat Forge's (BFRG) reported a sharp rise in both turnover and profits for the second quarter ended September 2002. The company's export thrust has yielded rich dividend if the first half numbers are anything to go by.

Bharat Forge: Machining growth

Aug 19, 2002

While everyone is going hung-ho about the performance of auto majors like Telco and Hero Honda in recent years, auto ancillary firms seem to have been sidelined. However, the latter ones have also benefited in a large way from the buoyancy in automobile demand over the last two years. After restructuring operations since late 1990s, select auto ancillary majors are actually much leaner and efficient, as compared to a decade ago. Bharat Forge (BFL) is one of them.

Bharat Forge net drops 79% YoY

Jan 15, 2001

The company's sales declined by 17.3% in the 3QFY01, due to the slowdown in the automobile sector. Though the company has tried to control its expenses, its operating margins have declined to 23% in the 3QFY01. This is also a decline as compared to its operating margins of 27.8% in 2QFY01.

Bharat Forge net drops 26.3% YoY

Oct 18, 2000

The company's sales declined by 9.5% in the 2QFY01, due to the slowdown in the automobile sector. As the company managed to control costs, its opertaing margins improved from 23.7% in 2QFY00 to 27.8% in 2QFY01.

Sundaram-Clayton Ltd net rises 188% on the back of other income

Aug 2, 2000

Sundaram Clayton's net sales went up by 18.2% YoY to Rs 569 m in the 1QFY01. SCL's presence in the auto ancillary segment is in two businesses namely hydraulic brake actuator systems and its foundry division. Its main clients are Telco and Ashok Leyland.


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