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Bharat Forge Shares Today: Bharat Forge Ltd shares came under pressure in early trade on Thursday, sliding over 3 per cent after the company raised a red flag over its near-term export prospects particularly to the United States. The downbeat tone from management overshadowed what was otherwise a solid earnings print for the June quarter.
The stock dropped to an intraday low of Rs 1,103 on the BSE, before paring losses slightly to trade 1.95 per cent lower at Rs 1,116.60. While, the benchmark Sensex was down 0.23 per cent at 80,356.
Bharat Forge Q1 Snapshot: Strong Bottom Line, Softer Revenue
Despite concerns, the company posted a 62 per cent rise in consolidated net profit, which came in at Rs 283.87 crore. However, revenue from operations declined 4.8 per cent year-on-year to Rs 3,908.7 crore, impacted by seasonal weakness in its aerospace business and headwinds from evolving U.S. policies on emissions and trade tariffs.
EBITDA stood at Rs 587.8 crore, down from Rs 657.6 crore a year ago, while margins held firm at 27.9 per cent.
What Are Brokerages Saying?
Jefferies retained its Underperform rating on the stock with a target price of Rs 950. The brokerage flagged “weak macro conditions” and a deteriorating export outlook, adding that uncertainties in the US market could continue to cloud the near-term outlook. That said, the ramp-up of a large domestic defence order may support growth from Q4 onwards.
Citi, meanwhile, maintained a Sell rating with a lower target of Rs 870. While Q1 earnings came in slightly ahead of estimates — thanks to modest revenue outperformance and lower tax — Citi warned that US tariff uncertainties would likely weigh on Q2 as well. With the stock trading at 42x and 35x its FY26 and FY27 estimated earnings respectively, it sees little room for downside protection.
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