Slide 1: Bharat Forge Ltd Q4 FY23 Analyst Update
BHARAT FORGE LTD Q4 FY23 ANALYST UPDATE 1
Slide 2: Management Commentary: Q4 FY23 Performance
Management Commentary: Q4 FY23 Performance BFL 3 Month Report: “During the quarter, standalone revenues on a YoY basis rose by 19.3% to Rs 19,973 million, the highest so far for the company with sales increasing across all business areas and regions. For the year FY23, we registered record revenues
Slide 3: Customer Awards: FY23
Customer Awards: FY23 Global Supplier Supplier Performance of the Global Supplier Sustainability ESG Award of the Year of the Year Year (2021 & 2022) of the Year Initiatives Lead (DICV) Supplier Excellence Quality for the Supply Chain Overall Business Partner Level Business for the year year Excelle
Slide 4: Standalone Financial Highlights Q4FY23
Standalone Financial Highlights Q4FY23 Revenue Revenue • Revenues at Rs 19,973 million in Q4FY23 grew by 19.3% as compared to Q4 FY22 driven by 11.2% growth in domestic 19,973 19,521 75,727 revenues and 25.7% growth in export revenues. 62,546 16,741 Q4 FY23 Q3 FY23 Q4 FY22 FY23 FY22 EBITDA EBITDA •
Slide 5: Review of India business
Review of India business Commercial Vehicles Commercial Vehicles Automotive Business: The automotive industry performance remains encouraging. Specifically Commercial vehicles continue to 2,854 move ahead with strength; BFL remains a strong partner in this 2,520 2,532 10,140 journey with our FY23 CV
Slide 6: Review of Export business
Review of Export business Automotive Business: CV revenue is up 4% QoQ and 26% YoY. Order backlog, inventory and cancellation rates remain at reasonable levels. Commercial Vehicles Commercial Vehicles North America Class 8 production is likely to sustain at CY22 levels. Though inflationary and energ
Slide 7: Review of Export Revenue by Geography
Review of Export Revenue by Geography Rs. Million Particulars Q4FY23 Q3FY23 Q4FY22 FY2023 FY2022 Americas 8,108 8,135 6,290 30,459 25,105 Europe 3,072 2,832 2,663 11,871 10,397 Asia Pacific 623 696 439 2,275 1,201 Total 11,803 11,663 9,392 44,605 36,703 7
Slide 8: Review of Export business
Review of Export business 3% 1% 5% 2% FY 2018 FY 2023 41% 39% 47% 34% 10% 18% CV PV Industrial Defence Aerospace CV PV Industrial Defence Aerospace (Rs. million) FY 2018 FY 2023 CAGR CV 23,419 29,260 4.6% Steady growth in mature market PV 5,104 13,065 20.7% Led by new business & market share gain in
Slide 9: 2022-23 – Metrics update - Environment
2022-23 – Metrics update - Environment • Scope 1 (35%) & Scope-2 (60%) lesser emissions 2035 38% of energy intensity • 50% lesser Carbon footprint Scope-1- 48% & Scope-2 – 2035 reduction (1.54 to 28% lesser emissions • Carbon Neutral 2040 1.00) • 40% reduction in Energy 2025 Intensity • Energy Effic
Slide 10: Consolidated Financial Highlights FY23
Consolidated Financial Highlights FY23 Revenues 1,29,103 1,04,611 Rs. Million FY23 FY22 Particulars March 31, 2023 March 31, 2022 Long Term Debt 24,436 23,151 EBITDA WC & Bill Discounting 43,534 33,394 19,803 17,774 Equity 67,416 66,267 Cash 31,405 27,334 FY23 FY22 D/E 1.01 0.85 D/E (Net) 0.54 0.44
Slide 11: Financials Annexures
Zz BHARAT FORGE < Financials Annexures
Slide 12: Standalone P&L Highlights Q4 FY23
Standalone P&L Highlights Q4 FY23 Rs. Million Standalone Financials Q4FY23 Q3FY23 QoQ% Q4FY22 YoY% FY23 FY22 % Change Shipment Tonnage 64,648 62,755 3.0 57,543 12.3 246,467 221,514 11.3 Domestic Revenue 7,876 7,589 3.8 7,161 10.0 30,083 24,997 20.4 Export Revenue 11,803 11,663 1.2 9,392 25.7 44,605
Slide 13: Standalone Financial Highlights FY23
Standalone Financial Highlights FY23 Rs. Million Particulars (Standalone) March 31, 2023 March 31, 2022 Long Term Debt 17,661 17,834 Working Capital & Bill Discounting 26,386 21,215 Equity 77,000 71,098 Cash 22,067 24,818 ROCE (Net of Cash) 16.2% 16.7% RONW 13.6% 15.2% D/E (Net) 0.29 0.20 Net Debt/
Slide 14: Consolidated Financial Reconciliation
Consolidated Financial Reconciliation Rs. Million FY 2023 BFL + BFIL Overseas Subs Indian Subs Total Total Revenue 79,473 42,785 6,845 129,103 EBITDA 18,993 (961) (258) 17,774 PBT 14,052 (4,233) (659) 9,160 Exchange Gain/(loss) (92) (65) 58 (99) Exceptional Items (441) (16) - (457) Associate/JV Prof
Slide 15: Subsidiary Financials - FY23
Subsidiary Financials - FY23 Rs. Million Overseas Mfg. Ops Jan – Mar 2023 Oct – Dec 2022 Jan – Mar 2022 Apr 22 – Mar 23 Jan 21 – Mar 22 Total Revenue 12,099 10,726 9,083 42,785 40,641 EBITDA (489) (626) 746 (961) 3,947 EBITDA % (4.0)% (5.8)% 8.2% (2.2)% 9.7% PBT Before Ex Gain/(Loss) (1,341) (1,514)
Slide 16: Aluminum Operations Financials
Aluminum Operations Financials € Million BF-AT Apr 22 – Mar 23 Jan – Mar 23 Total Revenue 124.0 34.3 EBITDA (18.9) (7.7) The manufacturing platform set up in EU & NA for Aluminum EBITDA % - - forgings are an essential part of our journey of enhancing the PBT Before Ex Gain/(Loss) (31.7) (10.1) produ
Slide 17: Indian Subsidiary & Overseas Operations Financials
Indian Subsidiary & Overseas Operations Financials KSSL Jan – Mar 2023 Oct – Dec 2022 Jan – Mar 2022 FY2023 FY2022 Total Revenue 814 486 467 1,654 933 EBITDA 18 14 (7) (16) (17) EBITDA% 2.2% 2.9% - - - PBT Before Exchange Gain/(Loss) 159 52 5 137 (38) KPTL Jan – Mar 2023 Oct – Dec 2022 Jan – Mar 202
Slide 18: Thank You
Thank You Rajhagopalan S Tel: +91 9860144866 Email: Srajhagopalan@bharatforge.com Chinmay Chhatre Tel: +91 9930512932 Email: chinmay.chhatre@bharatforge.com 18