Slide 1: Bharat Forge exchange filing cover letter
BHARAT FORGE August 6, 2025 To BSE Limited National Stock Exchange of India Limited Corporate Relations Department Listing Department Phiroze Jeejeebhoy Towers Exchange Plaza, Plot No. C/1, G Block Dalal Street, Fort, Mumbai 400 001 Bandra Kurla Complex, Bandra (East) Maharashtra, India Mumbai 400 0
Slide 2: Q1 FY26 Analyst Update
Q1 FY26 ANALYST UPDATE Inspiring Innovation. Worldwide. Automotive | Renewable Energy | Oil & Gas | Defence | Aerospace | Marine | Construction & Mining | Rail
Slide 3: Management Commentary: Q1 FY26 Performance
Management Commentary: Q1 FY26 Performance BFL 3 Month Report: “During the quarter, the company faced challenging market conditions in our export markets caused by tariff & regulatory uncertainties. Standalone Revenues declined by 2.7% sequentially to Rs 2,105 Crores, impacted by 12.7% drop in Expor
Slide 4: Standalone Financial Highlights
Standalone Financial Highlights Q1 FY26 Rs million Revenue 23,381 Q1 FY26 Revenues at Rs 21,047 million were lower QoQ due 21,047 21,630 to challenges arsing from the tariff policy, roll back of emission norms change for Heavy trucks in US and seasonality in the Aerospace business. Q1 FY26 Q4 FY25 Q
Slide 5: Review of Export Business – Q1 FY26
Review of Export Business – Q1 FY26 Rs million 4,633 3,631 3,372 4,499 4,464 5,318 Q1 FY26 Q4 FY25 Q1 FY25 2,882 3,224 2,752 Commercial Vehicles Passenger Vehicles Industrial Commercial Vehicles Passenger Vehicles Industrial Commercial Vehicles Passenger Vehicles Industrial Revenue – Rs 10,753 milli
Slide 6: Review of Domestic Business – Q1 FY26
Review of Domestic Business – Q1 FY26 Rs million 2,489 2,447 2,659 4,475 Q1 FY26 Q4 FY25 Q1 FY25 816 5,738 973 7,290 901 Commercial Vehicles Passenger Vehicles Industrial Commercial Vehicles Passenger Vehicles Industrial Commercial Vehicles Passenger Vehicles Industrial Revenue – Rs 9,157 million Re
Slide 7: Export Break up by Geography
Export Break up by Geography In Rs million Q1 FY26 Q4 FY25 Q1 FY25 Americas 6,933 8,161 7,912 Europe 2,937 3,204 3,175 Asia Pacific 884 956 615 Total 10,753 12,321 11,702
Slide 8: Consolidated Financial Highlights – Q1 FY26
Consolidated Financial Highlights – Q1 FY26 Rs million Revenue 41,061 39,088 38,528 In Rs million Q1 FY26 FY25 Long term Debt 18,769 19,839 Q1 FY26 Q4 FY25 Q1 FY25 WC Loans & Bill Discounting 44,169 43,044 EBITDA Equity 94,030 92,206 7,592 6,817 6,711 Cash 31,692 30,952 RoCE (Net) 15.6% 15.4% Q1 FY2
Slide 9: Financials Annexures
s BHARAT FORGE x KALYANI Financials Annexures
Slide 10: Standalone P&L Highlights
Standalone P&L Highlights – Q1 FY26 In Rs mi l l i on Q1 FY26 Q4 FY25 QoQ (%) Q1 FY25 YoY (%) Sale Tonnage 61,857 67,309 -8.1% 67,501 -8.4% Domestic 10,294 9,309 10.6% 11,679 -11.9% Export 10,753 12,321 -12.7% 11,702 -8.1% Revenue from Operations 21,047 21,630 -2.7% 23,381 -10.0% EBITDA 5,878 6,289
Slide 11: Standalone B/S Highlights
Standalone B/S Highlights – Q1 FY26 In Rs million Q1 FY26 FY25 Long term Debt 10,470 12,865 WC Loans & Bill Discounting 26,926 26,770 Equity 1,11,859 1,09,643 Cash 26,413 26,228 RoCE (Net) 15.0% 18.1% Debt/ Equity (Net) 0.15 0.17 10
Slide 12: Consolidated Financials Reconciliation
Consolidated Financials Reconciliation Rs million Q1 FY26 Indian Operations Overseas Operations E-Mobility Consolidated Revenue from Operations 24,153 14,299 636 39,088 EBITDA 6,317 558 -58 6,817 EBITDA (%) 26.2% 3.9% - 17.4% PBT (incl Other Income) 4,979 -656 -92 4,231 Exchange Gain / (Loss) 27 -11
Slide 13: Overseas Financial Highlights – Q1 FY26
Overseas Financial Highlights – Q1 FY26 Rs million European Mfg Operations Q1 FY26 Q4 FY25 Q1 FY25 Revenue from Operations 10,520 9,075 10,609 EBITDA 328 111 370 EBITDA (%) 3.1% 1.2% 3.5% PBT before Exchange Gain/ (Loss) -490 -711 -529 US Mfg Operations Q1 FY26 Q4 FY25 Q1 FY25 Revenue from Operation
Slide 14: Indian Subsidiary Financials – Q1 FY26
Indian Subsidiary Financials – Q1 FY26 Rs million KSSL Q1 FY26 Q4 FY25 Q1 FY25 Revenue from Operations 2,470 2,757 5,035 EBITDA 170 140 331 EBITDA (%) 6.9% 5.1% 6.6% PBT before Exchange Gain/ (Loss) 159 187 388 KPTL Q1 FY26 Q4 FY25 Q1 FY25 Revenue from Operations 636 32 30 EBITDA -58 -224 -186 EBITD
Slide 15: Thank You
Thank You Rajhagopalan S Tel: +91 9860144866 Email: Srajhagopalan@bharatforge.com Chinmay Chhatre Tel: +91 9930512932 Email: chinmay.chhatre@bharatforge.com Automotive | Renewable Energy | Oil & Gas | Defence | Aerospace | Marine | Construction & Mining | Rail