Quote on Bharat Forge Ltd 1QFY22 Result Update by Mr. Amarjeet Maurya, Angel Broking Ltd
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Below is quote on Bharat Forge -1QFY22 - Result Update by Mr. Amarjeet Maurya, - AVP - Mid Caps, Angel Broking Ltd
During the 1QFY22, Bharat Forge Ltd (BFL) reported consolidated revenue of ~Rs2108cr (up ~83% YoY) mainly due to healthy recovery in sales. On the consolidated EBITDA front, the company has reported profit of Rs450cr against loss of Rs14cr in 1QFY21 due to better operating leverage. On the bottom-line front, the company has reported profit of Rs153cr against loss of Rs127cr due to higher sales and better operating performance. Going forward, we expect BFL to report strong top-line & Bottom-line growth on the back of demand outlook visibility and expect margin expansion on back of higher growth in the defence sector and sustained recovery in the auto space. We are positive on the stock with a Buy rating.
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