Bharat Forge Ltd · NSE:BHARATFORG
Bharat Forge — Q4 FY26 Earnings Presentation
17 slides from Bharat Forge's earnings presentation, May 7, 2026
Slide 1: Exchange filing cover letter for results presentation
BHARAT FORGE May 07, 2026 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 400 051
Slide 2: Q4 & FY26 Analyst Update
Q4 & FY26 ANALYST UPDATE Inspiring Innovation. Worldwide. Automotive | Renewable Energy | Oil & Gas | Defence | Aerospace | Marine | Construction & Mining | Rail
Slide 3: Management Commentary: FY26 Performance
Management Commentary: FY26 Performance BFL 3 Month Report: “Despite demand challenges and regulatory volatility, the company on a consolidated basis has recorded revenues of Rs 16,812 Crores and EBITDA of Rs 2,921 Crores, growth of 11.2% and 5.9% respectively. At a standalone level, FY26, revenues
Slide 4: Standalone Financial Highlights Q4 & FY26
Standalone Financial Highlights Q4 & FY26 Rs million Revenue Revenue Q4 FY26 Revenues at Rs 22,605 million saw 22,605 88,438 sequential improvement supported by rebound in 20,837 21,630 83,958 the North American Truck market demand and strong Domestic CV demand. Q4 FY26 Q3 FY26 Q4 FY25 FY26 FY25 EBI
Slide 5: Review of Export Business – Q4 FY26
Review of Export Business – Q4 FY26 Rs million 3,440 2,463 4,464 4,633 4,380 4,036 Q4 FY26 Q3 FY26 Q4 FY25 3,024 2,598 3,224 Commercial Vehicles Passenger Vehicles Industrial Commercial Vehicles Passenger Vehicles Industrial Commercial Vehicles Passenger Vehicles Industrial Revenue - Rs 10,844 milli
Slide 6: Review of Domestic Business – Q4 FY26
Review of Domestic Business – Q4 FY26 Rs million 3,073 2,614 2,659 Q4 FY26 Q3 FY26 4,475 Q4 FY25 6,495 1,022 7,083 1,066 901 Commercial Vehicles Passenger Vehicles Industrial Commercial Vehicles Passenger Vehicles Industrial Commercial Vehicles Passenger Vehicles Industrial Revenue - Rs 10,634 milli
Slide 7: Review of Export Business – FY26
Review of Export Business – FY26 Rs million 13,245 15,964 20,143 15,415 FY26 FY25 11,455 11,174 Commercial Vehicles Passenger Vehicles Industrial Commercial Vehicles Passenger Vehicles Industrial Revenue – Rs 40,114 million Revenue – Rs 47,281 million • FY26 CV business bore the impact of inventory
Slide 8: Review of Domestic Business – FY26
Review of Domestic Business – FY26 Rs million 10,364 9,627 25,230 FY26 23,283 FY25 3,974 3,622 Commercial Vehicles Passenger Vehicles Industrial Commercial Vehicles Passenger Vehicles Industrial Revenue – Rs 39,568 million Revenue – Rs 36,531 million • Domestic CV business benefited as replacement d
Slide 9: Export Break up by Geography
Export Break up by Geography In Rs million Q4 FY26 Q3 FY26 Q4 FY25 FY26 FY25 Americas 6,784 5,355 8,161 24,872 33,168 Europe 3,236 2,988 3,204 12,027 11,362 Asia Pacific 824 754 956 3,215 2,750 Total 10,844 9,097 12,320 40,114 47,281
Slide 10: Consolidated Financial Highlights – Q4 FY26
Consolidated Financial Highlights – Q4 FY26 Rs million Revenue In Rs million FY26 FY25 45,283 43,428 38,528 Long term Debt 21,116 19,839 WC Loans & Bill Discounting 47,630 43,044 Q4 FY26 Q3 FY26 Q4 FY25 Equity 95,568 92,206 EBITDA Cash 29,307 31,310 7,735 7,502 6,711 RoCE (Net) 15.6% 15.5% Debt/ Equ
Slide 11: Financials Annexures
s BHARAT FORGE x KALYANI Financials Annexures
Slide 12: Standalone P&L Highlights – Q4 & FY26
Standalone P&L Highlights – Q4 & FY26 In Rs mi l l i on Q4 FY26 Q3 FY26 QoQ (%) Q4 FY25 YoY (%) FY26 FY25 YoY (%) Sale Tonnage 62,201 57,859 7.5% 67,309 -7.6% 2,38,375 2,60,415 -8.5% Domestic 11,761 11,740 0.2% 9,310 26.3% 43,844 41,157 6.5% Export 10,844 9,097 19.2% 12,320 -12.0% 40,114 47,281 -15.
Slide 13: Standalone B/S Highlights – FY26
Standalone B/S Highlights – FY26 In Rs million FY26 FY25 Long term Debt 13,124 12,865 WC Loans & Bill Discounting 24,515 26,770 Equity 1,09,882 1,09,643 Cash 17,762 20,728 RoCE (Net) 14.9% 18.1% Debt/ Equity (Net) 0.18 0.17 Net Debt/ EBITDA 0.86 0.75 12
Slide 14: Consolidated Financials Reconciliation
Consolidated Financials Reconciliation Rs million FY26 Indian Operations Overseas Operations E-Mobility Consolidated Revenue from Operations 1,13,084 53,980 1,052 1,68,116 EBITDA 27,578 2,048 -419 29,207 EBITDA (%) 24.4% 3.8% - 17.4% PBT (incl Other Income) 21,954 -3,276 -525 18,153 Exchange Gain /
Slide 15: Indian Subsidiary Financials – Q4 & FY26
Indian Subsidiary Financials – Q4 & FY26 Rs million KSSL Q4 FY26 Q3 FY26 Q4 FY25 FY26 FY25 Revenue from Operations 3,690 5,472 2,754 15,622 15,666 EBITDA 337 636 140 1,570 987 EBITDA (%) 9.1% 11.6% 5.1% 10.1% 6.3% PBT before Exchange Gain/ (Loss) 333 604 187 1,495 1,193 K Drive Mobility Q4 FY26 Q3 F
Slide 16: Overseas Subsidiary Financials – Q4 & FY26
Overseas Subsidiary Financials – Q4 & FY26 Rs million European Mfg Operations Q4 FY26 Q3 FY26 Q4 FY25 FY26 FY25 Revenue from Operations 10,183 9,078 9,074 38,645 38,101 EBITDA 475 386 111 1,512 955 EBITDA (%) 4.7% 4.3% 1.2% 3.9% 2.5% PBT before Exchange Gain/ (Loss) -391 -539 -711 -1,946 -2,683 US M
Slide 17: 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