Kalyani Strategic Systems, a wholly-owned subsidiary of Bharat Forge, has bagged two export orders aggregating to Rs 850 crore from friendly countries for supply of components and armoured vehicle chassis. The order, which is subject to necessary government approvals, will be executed over a 18 months’ timeframe, Bharat Forge said in an exchange filing on Monday.

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Shares of Bharat Forge Ltd rose 2 percent in trade today to hit an all-time high of Rs 987.80 apiece. At 11:34 am, the scrip was trading 1.25 percent higher at Rs 982.90 apiece in the NSE. The stock has risen nearly 16 percent in a month.

Meanwhile, on a year-to-date basis, Bharat Forge shares have jumped 11.10 percent, white the stock has climbed 36 percent in the last one year.

According to market expert Sandip Sabharwal, Bharat Forge is one stock that people should keep on their radar to buy on declines.

Bharat Forge Q1 numbers

Bharat Forge reported a 27.8 percent year-on-year growth in net profit at Rs Rs 311.50 crore, compared to Rs 243.66 crore in the same quarter last year. The company's revenue for the June quarter climbed 20.91 percent to Rs 2,127.29 crore from Rs 1,759.39 crore.

Ebitda for the quarter under review rose 26.1 percent on-year to Rs 548.70 crore, while its Ebitda margin expanded to 25.8 percent against 24.7 percent YoY.

Bharat Forge, a major player in the auto components industry, now has a market capitalisation of Rs 45,800 crore.

Bharat Forge is the flagship company of the $3 billion Kalyani Group and a global provider of high performance, innovative, safety and critical components and solutions to various sectors including Automotive, Railways, Defence, Construction & Mining, Aerospace, Marine and Oil & Gas.

Kalyani Strategic Systems is a 100 percent subsidiary of Bharat Forge Limited, set up as a flagship company to drive defence business initiatives.

First Published:Aug 21, 2023 11:41 AM IST