Bharat Forge ltd.(NSE: BHARATFORG) Ltd. : Q3 FY23 Results Out; Total Income rise 39% YoY

Bharat Forge Ltd. (NSE: BHARATFORG) is an Indian multinational company and a leading global supplier of forging and machining solutions. The company operates in various sectors, including automotive, power, oil and gas, construction, and mining. Bharat Forge’s products and services range from components for automobile and industrial applications, engine and transmission parts, chassis components, and defense and aerospace components to logistics and supply chain management solutions. The company has a global presence and operates manufacturing facilities, research and development centers, and sales offices in several countries.

Bharat Forge Ltd. reported its standalone Q3FY23 results, with revenues of Rs 19,521 million, a 4.7% increase compared to Q2FY23. The growth was driven by a 9.4% increase in export sales, while domestic revenues declined by 1.7% due to lower production of passenger vehicles and seasonal weakness in tractors. The company’s EBITDA margins were 25.2% in Q3, a 90 bps improvement QoQ, driven by a better product mix. The PST before exchange gain/loss in Q3FY23 was Rs 3,379 million, impacted by rising interest costs, compared to Rs 3,577 million in Q2FY23.