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Equity | News | Hot Pursuit
Hot Pursuit
Bharat Forge hits a bump after weak Q1 numbers
(12:59, 13 Aug 2019)

The company faced heavy selling pressure after the result was announced during market hours today, 13 August 2019.

Meanwhile, the S&P BSE Sensex was down 197 points or 0.52% to 37385.04.

On the BSE, 2.07 lakh shares were traded in the counter so far compared with average daily volumes of 46000 shares in the past two weeks. The stock hit a high of Rs 432 and a low of Rs 401.25 so far during the day. The stock hit a 52-week high of Rs 692.5 on 10 Sep 2018 and a hit a 52-week low of Rs 398.4 on 06 Aug 2019.

The stock has underperformed the market over the past one month, declining 6.01% compared with 2.97% fall in the BSE Sensex.

Consolidated EBITDA declined nearly 15.4% to Rs 414.80 crore in Q1 June 2019 over Q1 June 2018. The EBITDA margin also declined from 20.3% in Q1 June 2018 to 17.8% in Q1 June 2019. The company's long term debt stood at Rs 1975.5 crore in Q1 June 2019.

On standalone basis, the company's net profit declined 25.72% to Rs 174.1 crore on a 9% decline in net sales to Rs 1346.5 crore in Q1 June 2019 over Q1 June 2018.

Bharat Forge, the Pune based Indian multinational, is a global provider of high performance, innovative, safety & critical components and solutions to various industrial sectors including Automotive, Railways, Power, Defence, Construction & Mining, Aerospace, Marine and Oil & Gas.

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