Bharat Forge share price
NSE: BHARATFORGBSE: 500493Auto ComponentsMid Cap
Share price at the NSE close on 27 Oct 2026. Previous close ₹1,730.40.
27 Oct: open ₹1,722.90, high ₹1,788.00, low ₹1,719.10
- Next results date: the board meets on 5 Nov 2026 to consider: financial results. The notice · Results calendar
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹86,153 Cr127th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 121.99
- P/E without one-offsPrice to earnings without one-off items. Market cap divided by core profit: the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, less one-off items (exceptional items and the result of businesses sold or closed). Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹512 crore of one-off items, the largest of them in the quarter to Jun 2026.
- 70.69
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 9.01
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 0.48%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 7.5%
- ROE without one-offsReturn on equity without one-off items. Core profit, the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders less one-off items (exceptional items and the result of businesses sold or closed), as a percentage of the same net worth as the return on equity. Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes −₹512 crore of one-off items, the largest of them in the quarter to Jun 2026.
- 13.0%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 11.9%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- 0.72
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 14,33,47553.3% delivered
About Bharat Forge
Bharat Forge Limited is an engineering and manufacturing company that makes safety-critical forged and machined components, and defence products such as artillery systems and armoured vehicles.123 It supplies customers in the automotive, aerospace, defence, energy, rail, marine, oil and gas, and construction and mining sectors, with operations in India, North America and Europe.14
Its defence business is run by Kalyani Strategic Systems Limited, a wholly owned subsidiary, which set up Agneyastra Energetics in July 2025 for explosives and propellants.56 Its aerospace business makes engine components, landing gear and aircraft structural parts.5 JS Autocast makes ferrous (iron-based) castings, and K Drive Mobility, bought on 1 Jul 2025, designs and assembles axles.768 In March 2026, Premji Invest took a 23% stake in JS Autocast, on a fully diluted basis, for ₹300 crore.59 Bharat Forge's group operates 18 manufacturing facilities in 5 countries, 11 of them in India, with forging and casting capacity of 716,500 tonnes a year.4
It was incorporated in 1961, is based in Pune and completed 60 years of manufacturing operations in July 2026.1011 It expanded into industrial products in 2008, passenger vehicles at scale in 2014, defence in 2019 and aerospace in 2025.12 It is part of the Kalyani Group, and its promoter is B. N. Kalyani, its chairman and managing director.131415 At the end of March 2026, promoter group companies Kalyani Investment Company Limited, Sundaram Trading and Investment Private Limited and KSL Holdings Private Limited held 13.24%, 11.56% and 9.68% of its shares.14
Bharat Forge key points
Results
- Consolidated revenue (the group, parent and subsidiaries together) was ₹16,812 crore in the year to Mar 2026, up 11%, and consolidated EBITDA (earnings before interest, tax, depreciation and amortisation) was ₹2,911 crore, a margin of 17.3%.16
- On a standalone basis (the parent company alone), revenue was ₹83,957 million in the year to Mar 2026, down 5.1%; EBITDA was ₹23,121 million and profit after tax ₹8,187 million.1718
- In the quarter to Jun 2026, consolidated revenue was ₹4,640 crore, up 18.7%, and EBITDA ₹752 crore, a margin of 16.2%. Consolidated profit before tax was ₹557 million after an exchange loss of ₹423 million and one-off items of ₹3,580 million.1920
- The year to Mar 2026 includes 9 months of K Drive Mobility and the quarter to Jun 2025 does not, so the company says the year-on-year results are not comparable.2122
Business segments
- Revenue by reporting segment, ₹ million23Sales between segments of ₹10,439.13 million are removed to give consolidated revenue of ₹168,116.53 million.
Item year to Mar 2026 year to Mar 2025 Forgings 139,285.82 129,612.33 Defence 17,571.72 17,719.86 Others 21,698.12 9,519.96
Revenue mix
- Revenue of Bharat Forge Limited alone, by business242526
Item year to Mar 2026 Industrial, India and exports ₹4,064 crore, up 4% Commercial vehicle exports ₹1,324 crore, down 34% Passenger vehicle exports ₹1,145 crore, up 3% Commercial vehicles in India ₹1,036 crore, up 8% Passenger vehicles in India ₹397 crore, up 10% - On a standalone basis, aerospace revenue was a record ₹2,550 million in the year to Mar 2026, up 11%; the company is the first Indian supplier to Embraer, with a long-term contract for landing gear forgings.2728
Order book
- The defence order book (orders received but not yet delivered) was ₹11,196 crore at the end of June 2026, against ₹10,961 crore at the end of March 2026.3132
- The company won a Ministry of Defence contract for 255,000 close quarter battle (CQB) carbines for the Indian Army.33
- The company stated in its annual report for the year to Mar 2026 that the carbine contract and the ATAGS (Advanced Towed Artillery Gun System) order give it a revenue pipeline over the next 3 to 4 years.34
Expansion and capital spending
- In its presentation of 10 Aug 2026, the company said it plans to invest about ₹1,800 crore over 12 to 18 months in forging and machining capacity for new sectors, including the energetics plant (for explosives and propellants) in Andhra Pradesh.3536
- On its earnings call of 10 Aug 2026, the company said its ring mill (a machine that rolls seamless metal rings) at Baramati, built for aerospace, would start in the quarter to Mar 2027.3738
- On its earnings call of 10 Aug 2026, the company said it expects to complete the restructuring of Bharat Forge CDP, its German steel business, by December 2027, after which the entity would no longer exist; it took a charge of about €30 million.3940
What the company expects
- In its presentation of 10 Aug 2026, the company said it expects its Indian manufacturing business to grow 20% to 25% in the year to Mar 2027, more so in the second half.41
- The company stated in its annual report for the year to Mar 2026 that it aims to grow India manufacturing by 15% a year, compounded, over 5 years, with profits rising faster.42
- On its earnings call of 10 Aug 2026, the company said it expects its aerospace business to double in about 2 years.43
- On its earnings call of 10 Aug 2026, the company said it targets a margin of about 22% to 23% a year, at a steady state, in its defence business.44
Recent events
- On 5 Oct 2026, the company signed a long-term contract with Pratt & Whitney Canada to supply aerospace engine components made at its facility in India.45
- On 16 Oct 2026, the company said it had invested ₹2,400 million in Kalyani Strategic Systems, partly from its qualified institutional placement (a sale of new shares to large institutional investors), opened on 17 Sep 2026 under a fund raise of up to ₹2,500 crore.464748
- On 3 Sep 2026, Kalyani Strategic Systems signed a strategic alliance with Thales to build capability for 70-mm rocket systems in India, targeting the first rocket assembled in India for early 2027.49
- On 19 Jun 2026, the company signed a ₹425 crore, 5-year contract with the Ministry of Defence to supply gas turbine generators for Indian Navy ships, its entry into marine gas turbines.50
Last updated
All 50 sources, each with its page
- 1. Annual report, 17 Jul 2026, page 26
- 2. Annual report, 17 Jul 2026, page 183
- 3. Annual report, 17 Jul 2026, page 27
- 4. Annual report, 17 Jul 2026, page 28
- 5. Annual report, 17 Jul 2026, page 32
- 6. Annual report, 17 Jul 2026, page 65
- 7. Annual report, 17 Jul 2026, page 62
- 8. Annual report, 17 Jul 2026, page 58
- 9. Annual report, 17 Jul 2026, page 70
- 10. Annual report, 17 Jul 2026, page 3
- 11. Annual report, 17 Jul 2026, page 29
- 12. Annual report, 17 Jul 2026, page 33
- 13. Exchange filing, 5 Oct 2026, page 2
- 14. Annual report, 17 Jul 2026, page 143
- 15. Annual report, 17 Jul 2026, page 87
- 16. Annual report, 17 Jul 2026, page 32
- 17. Annual report, 17 Jul 2026, page 30
- 18. Annual report, 17 Jul 2026, page 63
- 19. Investor presentation, 10 Aug 2026, page 3
- 20. Investor presentation, 10 Aug 2026, page 12
- 21. Annual report, 17 Jul 2026, page 62
- 22. Investor presentation, 10 Aug 2026, page 8
- 23. Annual report, 17 Jul 2026, page 255
- 24. Annual report, 17 Jul 2026, page 57
- 25. Annual report, 17 Jul 2026, page 56
- 26. Annual report, 17 Jul 2026, page 57
- 27. Annual report, 17 Jul 2026, page 25
- 28. Annual report, 17 Jul 2026, page 63
- 29. Investor presentation, 10 Aug 2026, page 10
- 30. Investor presentation, 10 Aug 2026, page 7
- 31. Investor presentation, 10 Aug 2026, page 3
- 32. Annual report, 17 Jul 2026, page 30
- 33. Annual report, 17 Jul 2026, page 25
- 34. Annual report, 17 Jul 2026, page 58
- 35. Investor presentation, 10 Aug 2026, page 3
- 36. Annual report, 17 Jul 2026, page 25
- 37. Earnings call, 10 Aug 2026, page 4
- 38. Annual report, 17 Jul 2026, page 34
- 39. Earnings call, 10 Aug 2026, page 4
- 40. Earnings call, 10 Aug 2026, page 12
- 41. Investor presentation, 10 Aug 2026, page 3
- 42. Annual report, 17 Jul 2026, page 33
- 43. Earnings call, 10 Aug 2026, page 9
- 44. Earnings call, 10 Aug 2026, page 8
- 45. Exchange filing, 5 Oct 2026, page 2
- 46. Exchange filing, 16 Oct 2026, page 1
- 47. Exchange filing, 17 Sep 2026, page 1
- 48. Earnings call, 10 Aug 2026, page 5
- 49. Exchange filing, 3 Sep 2026, page 2
- 50. Exchange filing, 19 Jun 2026, page 2
Results
Consolidated; ₹ crore.Bharat Forge quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +17.5%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- −30.9%
Quarter to Jun 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹4,640 Crup 2.47%
- Net profitNet profit. Under it, net profit in the quarter before. A change in per cent is not worked out where either period is a loss or nothing. Net profit in the glossary
- −₹90 CrQuarter to Mar 2026: ₹233 Cr
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- −1.9%
Revenue by quarter
Net profit by quarter, a loss in red
- Net profit
- Loss
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,689 | 3,476 | 3,853 | 3,909 | 4,032 | 4,343 | 4,528 | 4,640 |
| Net profit | 243 | 213 | 283 | 284 | 299 | 273 | 233 | −90 |
| Net margin | 6.6% | 6.1% | 7.3% | 7.3% | 7.4% | 6.3% | 5.2% | −1.9% |
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹16,812 Crup 11.17%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹1,089 Crup 19.28%
- Net margin
- 6.5%
Revenue by year
Net profit by year, a loss in red
- Net profit
- Loss
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 6,598 | 8,415what Revenue, Mar 2018, includes. This period's revenue includes excise duty of ₹57 crore, a tax on the goods the company makes that it collects and pays to the government. | 10,146 | 8,056 | 6,336 | 10,461 | 12,910 | 15,682 | 15,123 | 16,812 |
| Net profit | 692 | 754 | 1,033 | 349 | −127 | 1,077 | 508 | 910 | 913 | 1,089 |
| Net margin | 10.5% | 9.0% | 10.2% | 4.3% | −2.0% | 10.3% | 3.9% | 5.8% | 6.0% | 6.5% |
Business segments
Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit
- ForgingsForgings, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹13,929 Crup 7.46%78.0%
- DefenceDefence, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹1,757 Crdown 0.84%9.8%
- OthersOthers, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹2,170 Crup 127.92%12.2%
Valuation
Today, against the company's own history.Bharat Forge PE ratio and valuation
At or below today's level on 78% of 2,168 trading days over the last 10 years.
At or below today's level on 86% of 1,977 trading days since Nov 2018.
At or below today's level on 24% of 2,478 trading days over the last 10 years.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | +43.7% | +12.6% | +27.2% | 0.5% |
| 3 years | +30.2% | +25.8% | +3.0% | 0.7% |
| 5 years | +23.7% | – | – | 0.8% |
Mutual fund holdings
277 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 149 of the 185 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.All 277 funds holding Bharat Forge
- Bought for the first timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 8
- Bought againBought again. Funds that held it at the month's end, had not held it the month before, and held it in an earlier month.
- 10
- AddedAdded. Funds that held more shares than at the end of the month before.
- 138
- CutCut. Funds that held fewer shares than at the end of the month before.
- 47
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 73
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 9
| Fund | |||
|---|---|---|---|
| 77,02,514 | 12.91% | ₹1,483.5 Cr | |
| 66,00,000 | 2.39% | ₹1,271.2 Cr | |
| 64,36,155 | 1.22% | ₹1,239.6 Cr | |
| 51,00,000 | 1.96% | ₹982.3 Cr | |
| 42,50,000 | 2.02% | ₹818.6 Cr | |
| 42,25,903 | 1.22% | ₹813.9 Cr | |
| 37,47,434 | 13.28% | ₹721.8 Cr | |
| 34,00,000 | 2.14% | ₹654.8 Cr | |
| 32,75,869 | 1.88% | ₹630.9 Cr | |
| 31,39,599 | 1.91% | ₹604.7 Cr |
Bharat Forge competitors and peers
Auto Components & Equipments, 155 listed companies, priced on 27 Oct 2026. The table lists the 8 companies closest to Bharat Forge in market cap.Automobile companies
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| 1,66,707 | 38.06 | 4.07 | +14.0% | +31.9% | 11.5% | 12.2% | 0.38% | |
| 1,34,502 | 56.92 | 9.06 | +13.6% | −11.3% | 16.5% | 16.3% | 0.59% | |
| 62,655 | 52.11 | 9.17 | +18.8% | +16.2% | 19.1% | 15.9% | 0.24% | |
| 57,367 | 43.68 | 9.33 | +22.7% | +23.3% | 22.7% | 26.5% | 0.95% | |
| 53,166 | 71.70 | 8.28 | +43.1% | +21.0% | 12.2% | 13.8% | 0.40% | |
| 40,747 | 67.18 | 5.26 | +17.6% | −6.1% | 9.1% | 10.7% | 0.17% | |
| 32,047 | 33.04 | 4.68 | +29.3% | +12.9% | 15.4% | 15.5% | 0.50% | |
| 30,064 | – | – | – | – | – | – | 0.00% |
Dividends
Per share, by the year it was paid for, and the latest payments.Bharat Forge dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossary| Ex-date | Type | Per share |
|---|---|---|
| 3 Jul 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹6.50 |
| 18 Feb 2026 | Interim | ₹2.00 |
| 4 Jul 2025 | Final | ₹6.00 |
| 18 Feb 2025 | Interim | ₹2.50 |
| 5 Jul 2024 | Final | ₹6.50 |
| 23 Feb 2024 | Interim | ₹2.50 |
Latest announcements
Routine notices left out.Bharat Forge announcements
Oct 2026
27 Oct · Board meeting
16 Oct · Business
7 Oct · General Updates
Sep 2026
29 Sep · Meeting
23 Sep · Rating
Bharat Forge share price by year
Each calendar year to 2025.Bharat Forge share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 1,470.40 | +13.2% | 1,470.40 | 951.60 |
| 2024 | 1,299.50 | +4.9% | 1,791.40 | 1,092.45 |
| 2023 | 1,238.35 | +40.7% | 1,245.65 | 750.20 |
| 2022 | 879.85 | +26.1% | 908.65 | 604.00 |
| 2021 | 697.85 | +32.8% | 834.05 | 538.10 |
| 2020 | 525.30 | +8.7% | 557.50 | 218.50 |
| 2019 | 483.15 | −5.0% | 537.50 | 382.00 |
| 2018 | 508.70 | −30.5% | 789.85 | 496.95 |
| 2017 | 731.50 | +61.4% | 732.00 | 453.70 |
| 2016 | 453.28 | +1.6% | 499.53 | 356.25 |
Recent sessions
The 9 trading days to 26 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 26 Oct 2026 | 1,690.00 | 1,730.40 | 1,689.00 | 1,730.40 | 1,711.30 | 12,44,359 | 58.3% |
| 23 Oct 2026 | 1,738.00 | 1,740.90 | 1,680.40 | 1,711.20 | 1,699.73 | 9,15,933 | 49.3% |
| 22 Oct 2026 | 1,767.80 | 1,767.80 | 1,723.40 | 1,741.00 | 1,738.60 | 13,53,872 | 62.1% |
| 21 Oct 2026 | 1,801.00 | 1,810.90 | 1,746.00 | 1,774.00 | 1,762.97 | 6,84,721 | 56.0% |
| 19 Oct 2026 | 1,835.00 | 1,840.00 | 1,792.10 | 1,798.60 | 1,810.73 | 4,29,055 | 53.1% |
| 16 Oct 2026 | 1,860.00 | 1,865.00 | 1,825.00 | 1,835.00 | 1,834.99 | 14,88,820 | 69.1% |
| 15 Oct 2026 | 1,838.00 | 1,863.00 | 1,833.60 | 1,852.40 | 1,849.74 | 4,06,737 | 52.2% |
| 14 Oct 2026 | 1,839.00 | 1,864.50 | 1,828.50 | 1,838.80 | 1,843.38 | 4,83,316 | 44.7% |
| 13 Oct 2026 | 1,815.30 | 1,847.60 | 1,797.70 | 1,842.20 | 1,831.75 | 4,45,758 | 54.0% |
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Bonus share history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 28 Sep 2017 | Bonus | 0.5000 | Holders received 1 bonus share for every 1 held. |
Company details
- NSE symbol
- BHARATFORG
- BSE code
- 500493
- ISIN
- INE465A01025
- Industry
- Auto Components
- Website
- www.bharatforge.com
- CIN
- L25209PN1961PLC012046
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1961
- Registered office
- Mundhwa Pune Cantonment, 411036, Maharashtra
- Share registrar
- MUFG Intime India Pvt. Ltd
- Keeps the register of shareholders and handles transfers and dividend payments