Chart Beat: For Bharat Forge, non-auto segments to keep the ball rolling
₹2,263 crore, driven in part by growth in its defence business, which is expected to generate ₹1,000 crore in revenue for FY24. Additionally, robust infrastructure spending and rising private capital expenditures are likely to keep domestic demand strong in the industrial segment.
However, the commercial vehicle business may face short-term growth challenges. Volatility in domestic markets is anticipated due to the upcoming general elections, and in export markets like Europe, demand remains weak.
On a brighter note, the passenger vehicle segment appears to be in a better position. “The newly established businesses incubated over the last 5-10 years have reached pivotal moments and they have the potential to offset the anticipated challenges in core operations," said analysts at Motilal Oswal Financial Services in a report on 12 February.
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