Shipment tonnage for the period under review was 61,507, down 8.8% YoY.
The decline in revenue was on account of weak demand conditions in EU impacting exports and lower sales of defence products on QoQ & YoY basis.
EBITDA fell by 8.7% YoY to Rs 589.3 crore in the December’24 quarter. EBITDA margin in Q3 FY25 was 28.1% as against 28.8% in Q3 FY24.
The company stated that favorable product mix in Q3FY25 helped to sustain EBITDA margin at 28%.
Profit before tax in Q3 FY25 stood at Rs 453 crore, down by 6.9% from Rs 486.5 crore in Q3 FY24.
Long term debt as on 31 December 2024 was Rs 1,286.8 crore, which is lower by 24.8% as compared with the debt value of Rs 1,710.7 crore as on 31 March 2024.
Cash position was Rs 2,471.7 crore as on 31 December 2024 as against Rs 2525 crore as on 31 March 2024.
Debt-equity (net) ratio and net debt-EBITDA ratio were at 0.2 and 0.87 as on 31 December 2024.
On a consolidated basis, Bharat Forge has recorded a pre-tax profit (after exchange gain/loss) of Rs 393.3 crore and total revenue of Rs 3,475.6 crore in Q3 FY25.
B.N. Kalyani, chairman & managing director, said: "Bharat Forge group secured new orders worth Rs 830 Crores across various business verticals in Q3 FY25.
BFL group’s defence business posted revenue of Rs 337 Crore in Q3. With order wins of Rs 97 Crores in Q3, the executable order book as of December 31st stands at Rs 5,706 Crores.
For the Aerospace business, we have approved an investment for setting up a dedicated state of the art machining line for landing gears components and a ring mill for manufacturing high precision forging to address the growing demands for jet engine components from the global aerospace industry. The capacities will come online in FY2027. We expect the aerospace business to witness strong growth over the coming 3 - 4 years.
JS Auto continued registering strong performance during the quarter with revenue growing by 20% to Rs 166 Crore and EBITDA growth of 24% at Rs 23 Crores as compared to Q3 FY24. During 9M FY25, JSA won orders worth Rs 183 crores benefiting from the positive momentum built around Indian manufacturing. We expect this business to surpass the Rs 1,000 Crs revenue milestone in the next 2-3 years.
Looking ahead into Q4 FY25 & FY26, we expect the consolidated performance to be stable, as pockets of strength emerge from the newer businesses to offset the slowdown in the automotive sector globally. We will undertake a thorough review of our manufacturing footprint of our overseas business with an endeavor to achieve operational stability in this challenging environment.”
The board of Bharat Forge has approved an interim dividend of Rs 2.50 per equity share of the face value of Rs 2 each of the company.
The interim dividend shall be paid on or before Wednesday, 12 March 2025 to the equity shareholders of the company. The record date for the same is Tuesday, 18 February 2025.
Separately, Bharat Forge said that during Aero India 2025, it has entered into a collaboration agreement with Liebherr to establish a manufacturing facility to address the global aerospace industry demand.
In another exchange filing, Bharat Forge announced that it has signed a Memorandum of Understanding (MoU) with VEDA Aeronautics to develop unmanned aerial vehicles (UAV) & other high-speed aerial weapon systems used in the battlefield.
While VEDA has been engaged in shaping the unmanned system technology for defence services, BFL will supply the micro jet engines used in these unmanned systems.
Bharat Forge (BFL) is the flagship company of the Kalyani Group providing engineering solutions for diverse automotive and industrial applications. It is India’s one of the largest forging company with forging-based engine and chassis components with focus on crankshafts and front-axle beams, largest exporter of auto components and amongst the leading manufacturers of industrial components. It has a diversified global customer base including the top five CV and PV manufacturers in the world.
The scrip shed 0.84% to currently trade at Rs 1096.30 on the BSE.