Neel AcharyIndia, 12th November, 2025: Bharat Forge Limited (BFL) today announced its financial results for the quarter ended September 30, 2025. The company remains strategically positioned with a diversified business mix, a strong order book in defence, and a healthy balance sheet. Management emphasized that while export markets remain under pressure, the domestic industrial and defence verticals are expected to drive growth for the remainder of FY26.
Key Highlights Q2 FY26 (Standalone)
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Revenue showed a sequential decline, impacted by a slowdown in North American Commercial Vehicle (CV) demand.
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EBITDA margin stood at 28%, supported by a favorable product mix.
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PBT (before exceptional items) declined marginally due to weaker export volumes.
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Profit after tax (PAT) saw a moderate decrease compared to the previous quarter.
Consolidated Highlights Q2 FY26
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Revenue increased sequentially, driven by strong performance in Indian manufacturing and defence segments.
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EBITDA margin stood at 17.7%.
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Profit before tax remained stable, reflecting continued operational efficiency.
Business Developments
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The company secured significant new orders during the first half of FY26, with a notable share from the defence sector.
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The defence order book continues to strengthen, underscoring Bharat Forge’s expanding presence in the strategic manufacturing domain.
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Bharat Forge completed the transfer of all defence-focused assets to its wholly owned subsidiary, Kalyani Strategic Systems Limited (KSSL), enhancing its focus and agility in defence operations.
Management Commentary
Mr. Baba Kalyani, Chairman and Managing Director of Bharat Forge, stated:
“The quarter was affected by a decline in North American truck production and subsequent inventory destocking. However, our efforts to de-risk the business helped mitigate the impact, maintaining healthy margins and profitability.
Indian manufacturing continues to be a key growth driver, supported by strong contributions from defence, aerospace, castings, and aggregates. While export markets in North America and Europe remain challenging, we expect domestic industrial activity, non-US exports, and the ongoing ramp-up in defence to offset these headwinds.
Our strategic focus on strengthening the manufacturing footprint and optimizing global operations remains unwavering as we pursue sustainable, long-term growth.”
