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Bharat Forge net drops 79% YoY - Views on News from Equitymaster
 
 
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  • Jan 15, 2001

    Bharat Forge net drops 79% YoY

    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.

    (Rs m) 3QFY00 3QFY01 Change
    Sales 1,526 1,262 -17.3%
    Other income 5 4 -28.3%
    Expenditure 1,133 972 -14.2%
    Operating profit (EBDIT) 394 290 -26.4%
    Operating profit margin (%) 25.8% 23.0%  
    Interest 125 151 21.0%
    Depreciation 80 103 28.2%
    Profit before Tax 194 40 -79.3%
    Other adjustments - -  
    Tax - -  
    Profit after Tax/(Loss) 194 40 -79.3%
    Net profit margin (%) 12.7% 3.2%  
    No. of Shares (eoy) (m) 37.7 37.7  
    Diluted number of shares 37.7 37.7  
    Diluted Earnings per share* 20.6 4.3  
    *(annualised)      

    The operating profits declined by 26% YoY in the 3QFY01, however its net declined by 79% YoY due to higher interest and depreciation costs.

    On the current price of Rs 99, its shares are trading at 6.0x FY2000 EPS of Rs 16.4.

     

     

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