Bharat Forge is an Indian multinational company involved in manufacturing of automotives, energy, construction, mining, railways, marine, aerospace and defence sectors.
The Pune-headquartered company was founded in 1961. Bharat Forge has been a flagship entity of Kalyani Group.
Bharat Forge is one of the leading players in manufacturing of axle beams, steering knuckles, connecting rods and crankshafts. Over the years, Bharat Forge has grown into the world’s largest single location forging facility having fully automated forging facilities and state of the art machinery. The company’s manufacturing units are located in Mundhwa, Satara, Baramati and Chakan in Maharashtra.
Bharat Forge’s market capitalisation stood at over ₹57,600 crore as of December 29,2023. Bharat Forge share price has gained more than 136.57% in the last three years.
Bharat Forge Business operations
Bharat Forge runs global operations through its international subsidiaries like Bharat Forge Kilsta, Bharat Forge CDP, and BF Aluminiumtechnik, which are Europe-based forging units.
The company’s Indian subsidiaries include Kalyani Strategic Systems, Kalyani Rafael Advanced Systems and Sharp India.
Bharat Forge started exporting products in 1985. The company got a major breakthrough during 1990-91 by getting huge business deals from Japan, the United States and the United Kingdom for supply of powertrain and chassis components. In 2008, BF was successful in setting up India’s largest commercial open forging press.
Being a global leader in their domain, Bharat forge is active in three locations in the US and North America; and two locations in Germany. It has one manufacturing facility each in France and Sweden. Bharat Forge has been catering to their customers across the world through these manufacturing locations besides their multiple factories in India.
Further, Bharat Forge has several research and development centres under their group such as KCTI (Kalyani Center for Technology & Innovation) and KCMI (Kalyani Center for manufacturing innovation).
The company’s primary product segments include:
Automotive: The company specialises in frontline design and engineering, dual shore manufacturing capability, and full-service supply capability for the automotive industry.
The company serves some of the biggest players in the automobile industry.
Power: In the power sector Bharat Forge supports thermal, hydro and wind power industries with machineries such as rotor shafts, generators and turbine blades.
Aerospace: The company caters to the aerospace industry by manufacturing fan blade, compressor and turbine, landing gear components and aero structures.
Besides these, Bharat Forge manufactures significant and critical components for marine, oil & gas, railways, E-mobility, construction and mining industries.
Financial Results
- The company’s consolidated revenue in FY23 grew 23.41% year-on-year to ₹12,910 crore as against ₹10,461 crore in FY22.
- Its profit after tax for FY23 stood at ₹5,08.39 crore, a decline of 52.8% compared to ₹1,077.61 crore in the preceding financial year.
- Its EBITDA (earnings before interest, tax, depreciation and amortisation) dropped 10.33% YoY to ₹1,776.44 crore in FY23 compared to ₹1,981 crore in FY22.
- EBITDA margin declined to 13.76% in FY23 as against 18.94% in the previous financial year.
- Earnings per share stood at ₹11.35 in FY23 compared to ₹23.23 in FY22.
Bharat Forge Financial Highlights
- Revenue: Bharat Forge reported revenue of ₹17,010.33 crore in FY26 vs ₹15,336.56 crore in FY25. It showed an increase of 10.91% on a yearly basis.
- Operating Profit: Bharat Forge reported an operating profit of ₹1,667.17 crore in FY26 vs ₹1,455.83 crore in FY25. It showed an increase of 14.52% on a year-on-year basis.
- Net Profit: Bharat Forge reported a net profit of ₹1,089.40 crore in FY26 vs ₹913.28 crore in FY25. It showed an increase of 19.28% on a yearly basis.
Bharat Forge Quarterly Result Highlights
- Bharat Forge reported revenue of ₹4,581.01 crore in Mar 2026, compared with ₹4,385.41 crore in Dec 2025, representing an increase of 4.46% on a quarter-on-quarter (QoQ) basis.
- Bharat Forge reported an operating profit of ₹392.14 crore in Mar 2026, compared with ₹407.22 crore in Dec 2025, representing a decrease of 3.70% on a quarter-on-quarter (QoQ) basis.
- Bharat Forge reported a profit of ₹233.45 crore in Mar 2026, compared with ₹272.80 crore in Dec 2025, reflecting a decrease of 14.42% on a QoQ basis.
- The earnings per share (EPS) of Bharat Forge stood at ₹22.58 during Mar 2026.
