INSUBCONTINENT EXCLUSIVE:
Edelweiss has upgraded Bharat Forge to buy in the long term with a revised target price of Rs 625
Shares of Bharat Forge ended down 0.9% at Rs 486.55 on Friday while BSE Sensex closed 162.03 points up at 41,464.61.
Company FinancialsFor
the quarter ended 30-09-2019, the company has reported consolidated sales of Rs 2155.20 crore, down -7.42 % from last quarter sales of Rs
2327.86 crore and down -17.02 % from last year same quarter sales of Rs 2597.27 crore
The company has reported net profit after tax of Rs 212.77 crore in the latest quarter
The company’s top management includes Mr.Amit B Kalyani, Mr.B N Kalyani, Mr.B P Kalyani, Mr.Dipak Mane, Mr.G K Agarwal, Mr.Kishore
Saletore, Mr.Murali Sivaraman, Mr.P C Bhalerao, Mr.P H Ravikumar, Mr.Pratap G Pawar, Mr.S E Tandale, Mr.S M Thakore, Mr.Vimal Bhandari,
Company has SRBC - Co LLP as its auditors
As on 30-09-2019, the company has a total of 465,588,632 shares outstanding
Investment RationaleBharat Forge has delivered superior returns/ growth across past business cycles led by judicious expansion in the right
The management’s sharpening focus on new product platforms will drive better returns/earnings over three-four years given first-mover
advantage, the brokerage said.