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ChangeBharat Forge (BFRG) is the second largest forging company in the world with operations at 11 locations in 5 countries. It is the largest exporter of auto components from India and a world leading manufacturer of chassis component. It manufacturers
Established in 1981, Automotive Axles Limited (AAL) is a joint venture between the Kalyani Group and Meritor Inc., USA (formerly the automotive division of Rockwell International Corporation). The company has manufacturing facilities located at
| BHARAT FORGE | AUTOMOTIVE AXLES | BHARAT FORGE/ AUTOMOTIVE AXLES |
|||
|---|---|---|---|---|---|
| P/E (TTM) | x | 48.0 | 22.9 | 209.9% | View Chart |
| P/BV | x | 6.4 | 3.4 | 187.9% | View Chart |
| Dividend Yield | % | 0.2 | 0.7 | 29.6% |
 BHARAT FORGE  AUTOMOTIVE AXLES |
| EQUITY SHARE DATA | |||||
|---|---|---|---|---|---|
| BHARAT FORGE Mar-17 |
AUTOMOTIVE AXLES Mar-16 |
BHARAT FORGE/ AUTOMOTIVE AXLES |
5-Yr Chart Click to enlarge
|
||
| High | Rs | 1,094 | 830 | 131.8% | |
| Low | Rs | 687 | 510 | 134.7% | |
| Sales per share (Unadj.) | Rs | 283.4 | 718.7 | 39.4% | |
| Earnings per share (Unadj.) | Rs | 30.5 | 23.0 | 132.7% | |
| Cash flow per share (Unadj.) | Rs | 49.9 | 49.1 | 101.7% | |
| Dividends per share (Unadj.) | Rs | 2.50 | 5.50 | 45.5% | |
| Dividend yield (eoy) | % | 0.3 | 0.8 | 34.2% | |
| Book value per share (Unadj.) | Rs | 176.8 | 216.5 | 81.7% | |
| Shares outstanding (eoy) | m | 232.79 | 15.11 | 1,540.6% | |
| Bonus/Rights/Conversions | - | - | - | ||
| Price / Sales ratio | x | 3.1 | 0.9 | 337.0% | |
| Avg P/E ratio | x | 29.2 | 29.1 | 100.2% | |
| P/CF ratio (eoy) | x | 17.8 | 13.6 | 130.7% | |
| Price / Book Value ratio | x | 5.0 | 3.1 | 162.7% | |
| Dividend payout | % | 8.2 | 23.9 | 34.3% | |
| Avg Mkt Cap | Rs m | 207,276 | 10,124 | 2,047.4% | |
| No. of employees | `000 | NA | 0.4 | 0.0% | |
| Total wages/salary | Rs m | 9,309 | 798 | 1,166.3% | |
| Avg. sales/employee | Rs Th | NM | 30,165.7 | - | |
| Avg. wages/employee | Rs Th | NM | 2,217.2 | - | |
| Avg. net profit/employee | Rs Th | NM | 965.8 | - | |
| INCOME DATA | |||||
|---|---|---|---|---|---|
| Net Sales | Rs m | 65,982 | 10,860 | 607.6% | |
| Other income | Rs m | 1,193 | 16 | 7,563.7% | |
| Total revenues | Rs m | 67,174 | 10,875 | 617.7% | |
| Gross profit | Rs m | 12,511 | 947 | 1,320.6% | |
| Depreciation | Rs m | 4,521 | 394 | 1,146.2% | |
| Interest | Rs m | 1,000 | 54 | 1,868.4% | |
| Profit before tax | Rs m | 8,183 | 515 | 1,588.4% | |
| Minority Interest | Rs m | 0 | 0 | - | |
| Prior Period Items | Rs m | 131 | 0 | - | |
| Extraordinary Inc (Exp) | Rs m | 1,284 | 0 | - | |
| Tax | Rs m | 2,492 | 168 | 1,487.6% | |
| Profit after tax | Rs m | 7,107 | 348 | 2,044.1% | |
| Gross profit margin | % | 19.0 | 8.7 | 217.4% | |
| Effective tax rate | % | 30.4 | 32.5 | 93.7% | |
| Net profit margin | % | 10.8 | 3.2 | 336.4% | |
| BALANCE SHEET DATA | |||||
|---|---|---|---|---|---|
| Current assets | Rs m | 42,201 | 3,410 | 1,237.7% | |
| Current liabilities | Rs m | 32,062 | 1,894 | 1,692.5% | |
| Net working cap to sales | % | 15.4 | 14.0 | 110.1% | |
| Current ratio | x | 1.3 | 1.8 | 73.1% | |
| Inventory Days | Days | 59 | 37 | 160.0% | |
| Debtors Days | Days | 74 | 67 | 111.5% | |
| Net fixed assets | Rs m | 37,303 | 1,773 | 2,104.0% | |
| Share capital | Rs m | 466 | 151 | 308.2% | |
| "Free" reserves | Rs m | 40,698 | 3,121 | 1,304.0% | |
| Net worth | Rs m | 41,164 | 3,272 | 1,258.1% | |
| Long term debt | Rs m | 10,591 | 0 | - | |
| Total assets | Rs m | 88,407 | 5,268 | 1,678.4% | |
| Interest coverage | x | 9.2 | 10.6 | 86.4% | |
| Debt to equity ratio | x | 0.3 | 0 | - | |
| Sales to assets ratio | x | 0.7 | 2.1 | 36.2% | |
| Return on assets | % | 9.2 | 7.6 | 120.4% | |
| Return on equity | % | 17.3 | 10.6 | 162.5% | |
| Return on capital | % | 20.5 | 17.4 | 117.8% | |
| Exports to sales | % | 0 | 0 | - | |
| Imports to sales | % | 0 | 2.1 | 0.0% | |
| Exports (fob) | Rs m | NA | NA | - | |
| Imports (cif) | Rs m | NA | 226 | 0.0% | |
| Fx inflow | Rs m | 19,577 | 0 | - | |
| Fx outflow | Rs m | 3,081 | 232 | 1,328.6% | |
| Net fx | Rs m | 16,496 | -232 | -7,113.3% | |
| CASH FLOW | |||||
|---|---|---|---|---|---|
| From Operations | Rs m | 10,517 | 569 | 1,848.0% | |
| From Investments | Rs m | -6,844 | -253 | 2,706.1% | |
| From Financial Activity | Rs m | -4,007 | -349 | 1,147.0% | |
| Net Cashflow | Rs m | -856 | -33 | 2,578.0% | |
| Indian Promoters | % | 46.7 | 35.5 | 131.5% | |
| Foreign collaborators | % | 0.0 | 35.5 | - | |
| Indian inst/Mut Fund | % | 16.9 | 12.5 | 135.2% | |
| FIIs | % | 13.7 | 0.1 | 13,700.0% | |
| ADR/GDR | % | 0.0 | 0.0 | - | |
| Free float | % | 22.7 | 16.4 | 138.4% | |
| Shareholders | 51,211 | 8,280 | 618.5% | ||
| Pledged promoter(s) holding | % | 0.0 | 0.0 | - |
Compare BHARAT FORGE With: AUTO CORP. OF GOA BOSCH LTD DENSO INDIA MOTHERSON SUMI SKF INDIA
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Share markets in India witnessed a sharp fall in the final minutes of trade. At the closing bell, the BSE Sensex closed lower by 266 points. While, the NSE Nifty finished lower by 83 points.
Bharat Forge has announced its financial results for the second quarter of the financial year 2016-17 (2QFY17). During the quarter, revenues declined by 20.1% YoY and net profits declined by 26.3%.
Bharat Forge has reported an 19% YoY and 38% YoY fall in sales and net profits respectively for the quarter ended June 2016.
Atul Auto has reported a 11.2% YoY decline in the topline while the bottomline has declined by 23% YoY.
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