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Bharat Forge net drops 26.3% YoY - Views on News from Equitymaster
 
 
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  • Oct 18, 2000

    Bharat Forge net drops 26.3% YoY

    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.

    (Rs m) 2QFY00 2QFY01 Change
    Sales 1,459 1,320 -9.5%
    Other income 17 6 -64.9%
    Expenditure 1,113 953 -14.4%
    Operating profit (EBDIT) 346 367 6.1%
    Operating profit margin (%) 23.7% 27.8%  
    Interest 102 148 46.2%
    Depreciation 80 91 13.1%
    Profit before Tax 182 134 -26.3%
    Other adjustments - -  
    Tax - -  
    Profit after Tax/(Loss) 182 134 -26.3%
    Net profit margin (%) 12.5% 10.1%  
    No. of Shares (eoy) (m) 37.6 37.6  
    Diluted number of shares 37.6 37.6  
    Diluted Earnings per share* 19.3 14.2  
    *(annualised)      

    However due to higher interest costs the company's net profit fell by 26.3% YoY and its net margins too declined.

    On the current price of Rs 96 Bharat Forge is trading at 5.9x FY2000 EPS of Rs 16.4

     

     

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