Bharat Forge Ltd · NSE:BHARATFORG
Bharat Forge — Q1 FY2024 Earnings Presentation
14 slides from Bharat Forge's earnings presentation
Slide 1: Bharat Forge Ltd Q1 FY24 Analyst Update
BHARAT FORGE LTD Q1 FY24 ANALYST UPDATE 1
Slide 2: Management Commentary: Q1 FY24 Performance
Management Commentary: Q1 FY24 Performance BFL 3 Month Report: “During the quarter, standalone revenues from operations rose by 21% YoY to Rs 21,273 million, the highest so far for the company. EBITDA & PBT grew by 20% and 27% respectively. New business worth Rs 200 Crores was secured in the core bu
Slide 3: Standalone Financial Highlights Q1FY24
Standalone Financial Highlights Q1FY24 Revenue 21,273 19,973 • Revenues at Rs 21,273 million in Q1FY24 grew by 21% YoY driven by 12.5% growth in 17,594 export and 33.6% growth in domestic revenue. Domestic revenues in Q1 FY24 also includes supply of artillery system to KSSL for the defence export or
Slide 4: Review of India business
Review of India business Commercial Vehicles Automotive Business: The CV business remained resilient YoY as domestic 2,734 2,854 2,338 demand continues to be in good shape. The outlook remains promising and BFL will mirror the industry growth in the coming quarters Q1 FY24 Q4 FY23 Q1 FY23 Passenger
Slide 5: Review of Export business
Review of Export business Commercial Vehicles 5,023 5,046 Automotive Business: CV business continued to remain steady. Company 4,576 does not see any major hiccups through the year as build rates, inventory levels and sales momentum sustains. European CV sales remain stable as economic activity cont
Slide 6: Review of Export Revenue by Geography
Review of Export Revenue by Geography Rs. Million Particulars Q1FY24 Q4FY23 Q1FY23 Americas 7,645 8,108 7,029 Europe 3,404 3,072 3,108 Asia 740 623 339 Total 11,789 11,803 10,475 6
Slide 7: Consolidated Financial Highlights Q1 FY24
Consolidated Financial Highlights Q1 FY24 Revenues 38,773 36,292 Rs. Million 28,515 Revenues have increased by 36% on a Particulars June 30, 2023 March 31, 2023 YoY basis driven by contribution from all businesses. Long Term Debt 23,521 24,436 Q1FY24 Q4FY23 Q1FY23 WC & Bill Discounting 46,680 43,534
Slide 8: Financials Annexures
Zz BHARAT FORGE < Financials Annexures
Slide 9: Standalone P&L Highlights Q1 FY24
Standalone P&L Highlights Q1 FY24 Rs. Million Standalone Financials Q1FY24 Q4FY23 QoQ Q1FY23 YoY Shipment Tonnage 67,780 64,648 4.8% 57,915 17.0% Domestic Revenue 9,210 7,876 16.9% 6,895 33.6% Export Revenue 11,789 11,803 10,475 Other Operating Income 274 294 224 Total Revenue 21,273 19,973 6.5% 17,
Slide 10: Standalone Financial Highlights Q1 FY24
Standalone Financial Highlights Q1 FY24 Rs. Million Particulars (Standalone) June 30, 2023 March 31, 2023 Long Term Debt 16,565 17,661 Working Capital & Bill Discounting 27,122 26,386 Equity 80,896 77,000 Cash 23,422 22,067 ROCE (Net of Cash) 17.8% 16.2% RONW 15.4% 13.6% D/E (Net) 0.25 0.29 Net Debt
Slide 11: Consolidated Financial Reconciliation
Consolidated Financial Reconciliation Rs. Million Q1 FY2024 BFL + BFIL Overseas Subs Indian Subs Total Total Revenue 21,430 13,336 4,007 38,773 EBITDA 6,087 158 (67) 6,178 EBITDA % 28.4% 1.2% (1.7)% 15.9% PBT 4,682 (930) (138) 3,614 Exchange Gain/(loss) (79) (145) (1) (225) Exceptional Items - - - -
Slide 12: Overseas Subsidiary Financials – Q1 FY24
Overseas Subsidiary Financials – Q1 FY24 Rs. Million Overseas Mfg. Ops Apr – Jun 2023 Jan – Mar 2023 Apr – Jun 2022 Total Revenue 13,336 12,099 10,490 EBITDA 158 (489) 495 EBITDA % 1.2% (4.0)% 4.7% PBT Before Ex Gain/(Loss) (930) (1,341) (221) EBITDA - European Operations 507 (141) 759 EBITDA % 4.4%
Slide 13: Indian Subsidiary Financials
Indian Subsidiary Financials KSSL Apr – Jun 2023 Jan – Mar 2023 Apr – Jun 2022 Total Revenue 2,255 814 75 EBITDA 109 18 (29) EBITDA% 4.8% 2.2% - PBT Before Exchange Gain/(Loss) 241 159 (42) KPTL Apr – Jun 2023 Jan – Mar 2023 Apr – Jun 2022 Total Revenue 261 87 5 EBITDA (345) (397) (125) 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