Bharat Forge Ltd · NSE:BHARATFORG
Bharat Forge — Q3 FY2024 Earnings Presentation
14 slides from Bharat Forge's earnings presentation
Slide 1: Bharat Forge Ltd Q3 FY24 Analyst Update
BHARAT FORGE LTD Q3 FY24 ANALYST UPDATE 1
Slide 2: Management Commentary: Q3 FY24 Performance
Management Commentary: Q3 FY24 Performance BFL 3 Month Report: “During the quarter, the company delivered a strong performance with sales growing by 15.9% to Rs 2,263 Crores and EBITDA growing by 30.9% to Rs 645 Crores. EBITDA margins at 28.5% expanded by 330 bps driven by favourable product mix and
Slide 3: Standalone Financial Highlights Q3FY24
Standalone Financial Highlights Q3FY24 Revenue 22,634 22,494 19,521 • Revenues at Rs 22,634 million in Q3FY24 grew by 16% YoY driven by 36% growth in domestic revenue. The Defence business was a major contributor to the growth in Q3 FY24 Q2 FY24 Q3 FY23 revenues while Oil & Gas sector and Agri secto
Slide 4: Review of India business
Review of India business Commercial Vehicles Automotive Business: The CV business registered a 9% YoY growth in 9MFY24 2,583 2,603 mirroring the overall market growth. The sector’s long term growth trajectory 2,520 remains intact supported by government capex and allied infrastructure development. Q
Slide 5: Review of Export business
Review of Export business Commercial Vehicles Automotive Business: North American CV business continued to be marginally positive. Class 8 build rates, inventory levels and sales remain 5,245 5,474 4,959 steady. European CV performance was subdued as economic recovery remained patchy. Our CV busines
Slide 6: Review of Export Revenue by Geography
Review of Export Revenue by Geography Rs. Million Particulars Q3 FY24 Q2 FY24 Q3 FY23 Americas 8,076 8,151 8,135 Europe 2,821 3,327 2,832 Asia 1,238 1,393 696 Total 12,135 12,871 11,663 6
Slide 7: Consolidated Financial Highlights Q3 FY24
Consolidated Financial Highlights Q3 FY24 Revenues 38,664 37,742 Rs. Million 33,534 Revenues have increased by 15% on a YoY basis driven by contribution from all Particulars December 31, 2023 March 31, 2023 businesses. Long Term Debt 19,542 24,436 Q3FY24 Q2FY24 Q3FY23 WC & Bill Discounting 51,793 43
Slide 8: Financials Annexures
Zz BHARAT FORGE < Financials Annexures
Slide 9: Standalone P&L Highlights Q3 FY24
Standalone P&L Highlights Q3 FY24 Rs. Million Standalone Financials Q3 FY24 Q2 FY24 QoQ Q3 FY23 YoY Shipment Tonnage 67,232 70,459 -4.6% 62,755 7.1% Domestic Revenue 10,210 9,310 9.7% 7,589 34.5% Export Revenue 12,135 12,871 -5.7% 11,663 4.0% Other Operating Income 289 313 269 Total Revenue 22,634 2
Slide 10: Standalone Financial Highlights Q3 FY24
Standalone Financial Highlights Q3 FY24 Rs. Million Particulars (Standalone) December 31, 2023 March 31, 2023 Long Term Debt 13,054 17,661 Working Capital & Bill Discounting 27,873 26,386 Equity 85,227 77,000 Cash 22,582 22,067 ROCE (Net of Cash) 19.5% 16.2% RONW 16.2% 13.6% D/E (Net) 0.22 0.29 Net
Slide 11: Consolidated Financial Reconciliation
Consolidated Financial Reconciliation Rs. Million Q3 FY2024 BFL + BFIL + Indian Subs Overseas Subs Total Total Revenue 25,565 13,099 38,664 EBITDA 6,509 218 6,727 EBITDA % 25.5% 2.1% 17.4% PBT 4,783 (1,100) 3,683 Exchange Gain/(loss) 196 54 250 Exceptional Items - - - PBT after Exchange Gain/ (Loss)
Slide 12: Overseas Subsidiary Financials – Q3 FY24
Overseas Subsidiary Financials – Q3 FY24 Rs. Million Overseas Mfg. Ops Oct – Dec 2023 Jul – Sep 2023 Oct – Dec 2022 Total Revenue 13,099 12,053 10,726 EBITDA 218 90 (626) EBITDA % 1.7% 0.7% - PBT Before Ex Gain/(Loss) (1,100) (1,156) (1,514) EBITDA - European Operations 218 353 (269) EBITDA % 2.1% 3
Slide 13: Indian Subsidiary Financials
Indian Subsidiary Financials KSSL Oct –Dec 2023 Jul – Sep 2023 Oct –Dec 2022 Total Revenue 4,349 2,962 486 EBITDA 272 169 14 EBITDA% 6.3% 5.7% 2.9% PBT Before Exchange Gain/(Loss) 378 311 52 KPTL Oct –Dec 2023 Jul – Sep 2023 Oct –Dec 2022 Total Revenue 21 99 104 EBITDA (349) (299) (213) EBITDA% - -
Slide 14: Thank You
Thank You Rajhagopalan S Tel: +91 9860144866 Email: srajhagopalan@bharatforge.com Chinmay Chhatre Tel: +91 9930512932 Email: chinmay.chhatre@bharatforge.com 14