Q1FY19 Result: Bharat Forge PAT jumps 34 per cent

Bharat Forge reported its results for the quarter ended June 30, 2018 on Thursday. The company’s standalone revenue for the quarter came in at Rs. 1,480 crore as against Rs. 1,258 crore in the corresponding quarter last year, registering 17.6 per cent yoy increase.
  
The growth was seen in both Auto and Industrial businesses. The domestic and export revenue increased by 19.3 per cent and 25.8 per cent yoy, respectively for the quarter.
  
EBITDA for the quarter rose by 28.5 per cent yoy to Rs. 428 crore as against Rs. 333 crore in the corresponding quarter last year with a margin expansion of 245 bps. EBITDA margin for the quarter stood at 28.9 per cent as against 26.5 per cent in the corresponding quarter last year. The margin was maintained despite continued inflationary pressure on raw material and energy front.
  
The PAT for the quarter came in at Rs. 234 crore as against Rs. 175 crore in the corresponding quarter last year, yoy increase of 34 per cent.
  
During Q1FY19, the company secured new orders worth Rs. 120 crores across domestic and global markets.
  
Further, to enhance focus on the light material space, it is planning to set up Aluminium forging facility in USA by investing US$55 million. This would cater North American market and production of the same is likely to commence in CY20.
  
Bharat Forge is engaged in the business of steel forgings, finished machined crankshafts, and front axles assembly and components.
 
On Thursday, the stock opened at Rs. 647 per share and made an intraday high and low of Rs. 652.45 and Rs. 634.35, respectively. At 11:31 hours, the stock was trading at around Rs. 636.05 on the BSE.