Stocktoria

Bharat Forge Limited BHARATFORG.NS

IN · National Stock Exchange of India · XNSE · stock · Consumer Cyclical · website

Bharat Forge Limited statistics & valuation

Market cap₹1.02T
P / E94.6×
P / S6.1×
P / B10.7×
P / FCF295.1×
Dividend yield0.37%
Net margin6.4%
Return on equity11.3%
FCF margin2.1%
Net debt₹64.6B
Enterprise value USD$11.4B
Earnings yield EBIT/EV1.8%
Return on capital15.4%
Graham number -85.1%₹318.50

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (₹318.50); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
4.30% 6.30% 6.20% 6.40% 2023202420252026
Gross margin (%)
43.50% 43.50% 56.40% 54.90% 2023202420252026
Operating margin (%)
8.70% 11.70% 12.00% 11.60% 2023202420252026
Return on equity (%)
7.90% 13.30% 10.20% 11.30% 2023202420252026
Shares outstanding
478.1M 478.1M 478.1M 478.1M 2023202420252026
Net debt (₹)
₹68.05B ₹66.34B ₹61.04B ₹64.61B 2023202420252026
Share buybacks (₹)
2023202420252026
Return on assets (%)
2.90% 4.90% 4.70% 4.90% 2023202420252026
Free cash flow margin (%)
2.40% 0.90% 2.30% 2.10% 2023202420252026
Debt / equity (×)
1.09× 1.11× 0.72× 0.76× 2023202420252026
EPS (₹)
₹11.35 ₹20.43 ₹20.05 ₹22.50 2023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Bharat Forge Limited trades at about 95× earnings — above its 10-year norm (10-year range 55.1×–83.6×, median 70.6×).

55.1× 95×

Shaded band = 10-year range (55.1×–83.6×); dot = today's 95×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023
Gross margin54.9%56.4%43.5%43.5%
Operating margin11.6%12.0%11.7%8.7%
Net margin6.4%6.2%6.3%4.3%
FCF margin2.1%2.3%0.9%2.4%
Return on assets4.9%4.7%4.9%2.9%
Return on equity11.3%10.2%13.3%7.9%
Debt / equity0.19×0.14×0.26×0.26×
Current ratio1.171.181.081.09

Computed from company filings · IN · as of 2026-03-31. Figures in INR. Facts plus Stocktoria's own computed scores — not investment advice.