Bharat Forge Q2 FY27: revenue up 20.8% to ₹4,870 Cr, net profit down 7.8% to ₹276 Cr
Results · Finvezto · 5 Nov 2026 · Bharat Forge (BHARATFORG)
Results Q2 FY27, ₹ Cr
| Q2 FY27 | ₹ Cr | QoQ | YoY |
|---|---|---|---|
| Revenue | 4,870 | - | +20.8% |
| Operating profit | 768 | - | +5.8% |
| Net profit | 276 | - | -7.8% |
| Operating margin | 15.8% | - | -2.2 pp |
| Net margin | 5.7% | - | -1.8 pp |
YoY is the company's own figure. QoQ shows where our quarterly series matches the filing.
Key points
- Bharat Forge reported standalone revenue of INR 2,526 crores for Q2 FY27, up nearly 30% year-on-year, with an EBITDA of INR 655 crores and an EBITDA margin of 25.9%. Earnings call
- Consolidated revenue grew 21% year-on-year to INR 4,870 crores, while consolidated EBITDA rose 9% to INR 778 crores, resulting in a 16% margin. Earnings call
- The company's outstanding unexecuted defense order book stood at INR 10,950 crores as of September, supported by bulk production clearance for ATAGS. Earnings call
What to watch
- Management on cdp restructuring: Our restructuring business for CDP is on track and as I mentioned we will estimate to close, conclude the same by middle of next year.
- Management on h2 performance outlook: In terms of outlook, I would expect second half to be stronger than first half.
Links
Company page · Results tracker
Anand Ganapathy K | SEBI Registered Research Analyst | INH000016630.