Slide 1: Earnings Update filing to BSE and NSE, February 12, 2025
BHARAT FORGE February 12, 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, Bandra Kurla Complex, Bandra (East) Mumbai 400 001, Maharashtra, India Mumbai 4
Slide 2: Q3 FY25 Analyst Update
Q3 FY25 ANALYST UPDATE Inspiring Innovation. Worldwide. Automotive | Renewable Energy | Oil & Gas | Defence | Aerospace | Marine | Construction & Mining | Rail
Slide 3: Management Commentary: Q3 FY25 Performance
Management Commentary: Q3 FY25 Performance BFL 3 Month Report: “The company reported a consolidated revenue of Rs 3,476 Crore and EBITDA of Rs 638 Crore, a degrowth of 10% and 5% respectively. The primary factor for decline in performance is the anaemic economic condition in EU which impacted the pe
Slide 4: Standalone Financial Highlights Q3FY25
Standalone Financial Highlights Q3FY25 Rs Million Revenue 22,467 22,634 20,960 Revenues at Rs 20,959 million in Q3FY25 were lower on account of two key factors • Weak demand conditions in EU impacting exports. Q3 FY25 Q2 FY25 Q3 FY24 • Lower sales of defence products on QoQ & YoY basis. EBITDA 6,477
Slide 5: Review of India Business
Review of India Business Rs Million Commercial Vehicles Automotive Business: The India CV sector has seen good growth over the last 3-4 years in terms of both absolute number and tonnage growth. However, for 9M FY25, a large base effect coupled with a cool-off in capex growth has 2,583 2,279 2,199 r
Slide 6: Review of Export Business
Review of Export Business Rs Million Commercial Vehicles 4,985 5,198 5,245 Automotive Business: Export CV business continued to be steady. While North America remained stable, weakness in Europe and slower growth in select Asian markets drove revenue lower. Going ahead we expect the market condition
Slide 7: Export Break up by Geography
Export Break up by Geography Rs. Million Particulars Q3FY25 Q2FY25 Q3FY24 Americas 8,540 8,555 8,076 Europe 2,333 2,651 2,820 Asia 637 543 1,238 Total 11,510 11,749 12,135
Slide 8: Consolidated Financial Highlights – Q3FY25
Consolidated Financial Highlights – Q3FY25 Revenues 34,756 36,885 38,664 10% decline in revenues primarily driven by weakness in the European markets. Rs. Million Q3FY25 Q2FY25 Q3FY24 Particulars December 31, 2024 March 31, 2024 Long Term Debt 20,013 24,605 EBITDA 6,895 6,727 EBITDA margins have imp
Slide 9: Financials Annexures
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Slide 10: Standalone P&L Highlights – Q3 FY25 & 9M FY25
Standalone P&L Highlights – Q3 FY25 & 9M FY25 Rs. Million Standalone Financials Q3 FY25 Q2 FY25 QoQ Q3 FY24 YoY 9M FY25 9M FY24 YoY Shipment Tonnage 61,507 64,098 (4.0)% 67,477 (8.8)% 193,106 206,014 (6.3) Domestic Revenue 9,187 10,443 (12.0)% 10,210 (10.0)% 31,037 28,730 8.0% Export Revenue 11,510
Slide 11: Standalone B/S Highlights – Q3 FY25
Standalone B/S Highlights – Q3 FY25 Rs. Million Particulars (Standalone) December 31, 2024 March 31, 2024 Long Term Debt 12,868 17,107 Working Capital Loan & Bill Discounting 27,525 26,892 Equity 107,646 85,688 Cash 24,717 25,250 ROCE (Net of Cash) 18.0% 20.0% RONW 12.5% 16.6% D/E (Net) 0.2 0.22 Net
Slide 12: Consolidated Financials Reconciliation
Consolidated Financials Reconciliation Rs. Million Q3 FY25 Indian Operations Overseas Operations E-Mobility Consolidated Total Revenue 23,771 10,979 6 34,756 EBITDA 6,459 38 (120) 6,378 EBITDA % 27.2% 0.3% - 18.4% PBT 5,030 (1,344) (164) 3,522 Exchange Gain/(loss) 100 (137) 2 (36) Exceptional Items
Slide 13: Overseas Financial Highlights – Q3 FY25
Overseas Financial Highlights – Q3 FY25 Rs. Million European Mfg. Ops Q3 FY25 Q2 FY25 Q3 FY24 Total Revenue 8,889 9,529 10,534 EBITDA 100 376 218 EBITDA % 1.1% 3.9% 2.1% PBT Before Ex Gain/(Loss) (917) (527) (739) US Mfg. Ops Q3 FY25 Q2 FY25 Q3 FY24 Total Revenue 2,090 1,918 2,565 EBITDA (62) (216)
Slide 14: Indian Subsidiary Financials – Q3 FY25
Indian Subsidiary Financials – Q3 FY25 Rs. Million KSSL Q3 FY25 Q2 FY25 Q3 FY24 Total Revenue 3,195 4,682 4,349 EBITDA 184 333 272 EBITDA% 5.8% 7.1% 6.3% PBT Before Exchange Gain/(Loss) 241 376 378 KPTL Q3 FY25 Q2 FY25 Q3 FY24 Total Revenue 6 29 21 EBITDA (120) (135) (349) EBITDA% - - - PBT Before E
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