Bharat Forge shares jump over 9%, hit 52-week high on stellar Q4 show
Shares of Bharat Forge jumped over 9% on Wednesday to hit their 52-week high of Rs 1,356.75 crore on the NSE after the company reported a 78% year-on-year (YoY) jump in its consolidated net profit at Rs 227 crore for the quarter ended March 31, 2024, compared to Rs 127.74 crore reported by the company in the year-ago period.
For the full financial year, the profit after tax (PAT) jumped to Rs 910 crore, a 79% uptick over Rs 508 crore reported in the year-ago period.
The consolidated revenue from operations stood at Rs 4,164 crore, a 15% YoY gain over Rs 3,629 crore reported in the year-ago period. For FY24, the revenue stood at Rs 15,682 crore vs Rs 12,910 crore in FY23, a 21% YoY jump.
On a sequential basis, the consolidated PAT was nearly 11% lower versus Rs 254 crore reported in Q3FY24. An 8% QoQ jump was recorded in the revenue figure. In the October-December quarter, the company posted revenue of Rs 3,866 crore.
The company's expenses grew to Rs 3,843 crore in Q4FY24 versus Rs 3,529 crore in Q3FY24 and Rs 3,469 crore in Q4FY23.
Bharat Forge's board of directors recommended a final dividend of Rs 6.50 per equity share for the financial year ended March 31, 2024. The final dividend for the financial year will be paid on or after August 14, 2024.
The company ended the year on a strong note with topline growing by 16.6% on the standalone basis to Rs 2,329 crore, the company filing said. The standalone EBITDA grew by 25% to Rs 654 crore resulting in EBITDA margins of 28% in Q4 FY24.
For the full year, the
