BHARAT FORGE Announces Quarterly Results (1QFY22); Net Profit Up 229.0%

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BHARAT FORGE Announces Quarterly Results (1QFY22); Net Profit Up 229.0%
Mon, 16 Aug

BHARAT FORGE has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

BHARAT FORGE Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-20*
3
Mar-21*
3
Jun-21*
QoQ ChangeYoY Change
Net SalesRs m11,54220,82821,0771.2%82.6%
Other incomeRs m450524407-22.3%-9.6%
TurnoverRs m11,99221,35221,4840.6%79.1%
ExpensesRs m11,68316,57116,5740.0%41.9%
Gross profitRs m-1414,2503,886-8.6%
DepreciationRs m1,3851,6061,6683.8%20.4%
InterestRs m368229501118.3%36.2%
Profit before taxRs m-1,4442,9382,125-27.7%
TaxRs m-190571507-11.4%
Profit after taxRs m-1,2542,3671,619-31.6%
Gross profit margin%-1.220.418.4
Effective tax rate%13.119.423.8
Net profit margin%-10.511.17.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 82.6% on a year-on-year (YoY) basis. The expenses were up by 41.9% YoY during the same period.
  • The company's operating profit declined by 2857.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.4% in 1QFY22 as against 1.2% in 1QFY21.
  • Depreciation charges increased by 20.4% and finance costs increased by 36.2% YoY, respectively.
  • Other income declined by 9.6% YoY during the quarter.
  • Net profit for the quarter increased by 229.0% YoY. Net profit margins during the quarter increased from -10.5% in 1QFY21 to 7.5% in 1QFY22.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.0% QoQ during the same period.
  • The company's operating profit declined by 8.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.4% in 1QFY22 as against 20.4% in 4QFY21.
  • Net profit for the quarter declined by 31.6% QoQ, while net profit margins declined from 11.1% in 4QFY21 to 7.5% in 1QFY22.

To see how BHARAT FORGE has performed over the last eight quarters,please visit here.

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BHARAT FORGE Share Price Performance

Over the last one year, BHARAT FORGE share price has moved up from Rs 494.7 to Rs 803.6, registering a Gain of Rs 308.9 or around 62.4%.

Overall, the S&P BSE SENSEX is up 44.8% over the year.

Current Valuations

At the current price of Rs 803.6, the price to earnings (P/E) ratio of BHARAT FORGE stands at 196.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.9 times.

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Oct 19, 2021 11:26 AM

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