125 per cent multibagger: Spectacular Q2FY24 performance as revenue jumps 21 per cent!
In the review of export revenue by geography for the second quarter of FY24, the company reported total revenues of Rs 128.71 crore.
Bharat Forge specializes in the manufacturing and sale of forged and machined components for both the automotive and industrial sectors.
Today, the shares of Bharat Forge Limited soared over 4.40 per cent. The company's current market capitalization stands at Rs 50,085.58 crore.
In the second quarter of FY24, the company reported revenues of Rs 2,249.4 crore, signifying a substantial 21 per cent year-on-year growth.
Furthermore, the EBITDA margin for the same period stood at 27.4 per cent in Q2 FY24, reflecting a significant improvement of 330 basis points compared to the previous year. This enhanced operational performance was a result of an improved product mix and higher capacity utilization.
The Profit Before Tax (PBT) before factoring in Exchange gains or losses reached Rs 473 crore in Q2 FY24, a notable increase from Rs 357.7 crore in Q2 FY23. This growth was driven by higher volumes in the core business and the thriving Defence segment, indicating a strong financial performance during the period.
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In the review of export revenue by geography for the second quarter of FY24, the company reported total revenues of Rs 128.71 crore. Here's a breakdown of the revenue generated in different regions:
- Americas: Revenues from the Americas amounted to Rs 81.51 crore during Q2 FY24, showing growth compared to the previous quarter (Q1 FY24) and the same quarter in the previous year (Q2 FY23).
- Europe: The European region contributed Rs 33.27 crore to the export revenue in Q2 FY24, which displayed a slight variation from the previous quarter and a notable increase compared to the same quarter in the previous year.
- Asia: Revenues from Asia reached Rs 13.93 crore in Q2 FY24, reflecting a significant growth from the previous quarter and the corresponding quarter in the previous year.
These figures provide insights into the company's export revenue performance across different geographic regions, demonstrating its global presence and growth trends in these markets.
Furthermore, the stock has witnessed significant buying activity as it has given multibagger returns of more than 125 per cent in just 3 years.