Bharat Forge Ltd
BHARATFORGBharat Forge Ltd's price has outrun its earnings. +74.9% in a year against EPS +14.7% — the market is paying now for delivery later.
The sharpest disagreement: the price moved +74.9% in a year while annual EPS moved +14.7% — the difference is re-rating, and re-rating has to be repaid with earnings.
The price is in a confirmed uptrend (40 weeks in) while the P/E sits at the 96th percentile of its own 11-year range. Underneath, the last four quarters read deteriorating — profit −131.7% year on year, and 170% of the last 3 years' profit arrived as cash. What settles it: whether earnings grow into a price that has already moved.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Bharat Forge Ltd trades at ₹2,065, in a confirmed uptrend and 40 weeks into that stage. That is +14.3% against its own 200-day average. It sits at 82% of a 52-week range of ₹1,181 to ₹2,265. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 50 straight weeks.
Today the stock is in a confirmed uptrend — week 40 of stage 2, confirmed. At ₹2,065 it trades +14.3% versus its 200-day average and sits at 82% of its 52-week range (₹1,181–₹2,265).
Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +456% while the NIFTY 500 moved +284% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 50 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Bharat Forge Ltd trades at 97.8× P/E, at the pricey end of its own range (96th percentile). Its long-run median P/E is 48.6×, measured across 10.5 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 97.8× is at the pricey end of its own range (96th percentile), against a long-run median of 48.6× measured over 10.5 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
🚨 Why the multiple sits where it does: over the past year annual EPS moved +14.7% against a +74.9% price move — the price outran earnings, pushing the multiple UP its own range.
The price move, decomposed: over 5y, of the +20.3%/yr price move, ~+16.4%/yr came from earnings growth and ~+3.9 pp from the multiple (expanding); over 10y, of the +17.5%/yr price move, ~+3.7%/yr came from earnings growth and ~+13.8 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
The PEG ratio and its quarterly curve, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 16% on reported income across 15 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Bharat Forge Ltd reads as mixed on its fundamental arc. Mixed — revenue growth is rising at +17.5% while profit growth is falling at −30.1% — the curves disagree, so the per-curve reads carry the story. The read is built from 9 quarters across 4 curves, on partial evidence.
Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.
Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.
A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +11.2% | +9.2% | +21.6% | +9.5% |
| Profit | +19.3% | +28.9% | — | +4.9% |
| EPS | +14.7% | +25.8% | — | +4.5% |
| Share price | +74.9% | +28.6% | +20.3% | +17.5% |
4-Factor Sector Score
42.6/100 — rank 15 of 20 in Castings, Forgings & Fastners · 75% evidence confidence
Bharat Forge Ltd scores 42.6 out of 100 against the 20 companies it is compared with in Castings, Forgings & Fastners, ranking 15. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 15.1 + 11 + 9 + 7.5 = 42.6. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Bharat Forge Ltd reported ₹4,640 Cr of revenue in the Jun 26 quarter, +18.7% year on year. That is the 4th straight quarter of year-on-year growth. Over 10 years it has compounded at 9.5% a year. The last full year, FY26, came in at ₹16,812 Cr. The last four reported quarters add to ₹17,543 Cr.
FY26 revenue came in at ₹16,812 Cr (+11.2% on the year), capping 10 years at 9.5% compound. The latest quarter (Jun 26) printed ₹4,640 Cr, +18.7% year on year — the 4th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +17.6% growth against the decade's 9.5% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +17.5% over the last 4 quarters against +5.0%/yr over the last 8 — accelerating; TTM profit −30.1% vs −9.4%/yr — rolling over.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Bharat Forge Ltd's operating margin is 15.0% in the Jun 26 quarter, −2.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 13.0% to 21.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 15.0%, −2.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 13.0%–21.0%.
🚨 Why the margin moved: operating margin went −2.1 pp year on year while gross margin went −1.2 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Bharat Forge Ltd posted a net loss of ₹90.0 Cr in the Jun 26 quarter. Full-year FY26 profit was ₹1,089 Cr. The 10-year compound rate is 4.9%. That loss is 1.9% of the quarter's revenue. The same quarter a year earlier earned ₹284 Cr. 1 of the last 12 reported quarters were loss-making.
Jun 26 profit was ₹−90.0 Cr, −131.7% year on year. On the full year, FY26 printed ₹1,089 Cr (+19.3%), and the 10-year compound rate is 4.9%.
🚨 Why profit moved: revenue contributed +18.7% and the margin −2.0 pp — the quarter was revenue-led despite a thinner margin.
Pace comparison, last four quarters: profit −24.5% vs revenue +17.6%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 170% of Bharat Forge Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹1,487 Cr of operating cash against ₹1,089 Cr of profit. After ₹2,125 Cr of capital spending, ₹−638 Cr was left as free cash.
FY26: operating cash of ₹1,487 Cr against reported profit of ₹1,089 Cr, leaving free cash of ₹−638 Cr after ₹2,125 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 170% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 170%: the cash cycle tightened 27 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.
Router verdict: the bigger cash user is investment — capital spending ran 2.0× depreciation over three years, so the next section's job is to check what that build-out is buying.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Bharat Forge Ltd's cash conversion cycle runs 136 days in FY26, down from 163 days in FY21. Capital spending ran ₹5,344 Cr over the last 3 years. At FY26 sales of ₹16,812 Cr each day of that cycle holds about ₹46.1 Cr, so roughly ₹6,264 Cr sits inside the business at any moment.
FY26: debtors at 85 days, inventory at 195 days — roughly 6.4 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 136 days, tighter than FY21's 163.
The full loop: cash goes out to suppliers and production on day 0; stock waits 195 days to sell; customers pay about 85 days after that; and suppliers themselves are paid at 144 days — netting out to the 136-day cycle.
In money terms: at FY26 sales of ₹16,812 Cr, each day of the cycle holds about ₹46.1 Cr — so the 136-day loop keeps roughly ₹6,264 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹5,344 Cr over the last 3 fiscal years against ₹2,693 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹1,298 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Bharat Forge Ltd earns a ROCE of 13% in FY26. That is up from a trough of 3% in FY21. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 6.5% net margin on 0.76× asset turns.
FY26 ROCE is 13%, recovered from a FY21 trough of 3% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 6.5% net margin × 0.76× asset turns × 2.32× balance-sheet leverage ≈ 11.5% on equity. Margin does its share; leverage is a meaningful part of the equation.
The quarterly return curves and the return-on-invested-capital overlay, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 16% on reported income across 15 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.
Bharat Forge Ltd carries ₹7,309 Cr of borrowings against ₹9,580 Cr of equity in FY26, a debt-to-equity of 0.76. Operating profit covers the interest bill 9×. Over 5 years borrowings went from ₹5,271 Cr to ₹7,309 Cr. Capital spending ran ₹5,344 Cr across the last 3 of those years.
FY26: borrowings of ₹7,309 Cr against equity of ₹9,580 Cr — a debt-to-equity of 0.76. Operating profit covers the interest bill 9×. Over 5 years borrowings went from ₹5,271 Cr to ₹7,309 Cr while capital spending ran ₹5,344 Cr in just the last 3 — part of the build-out is riding on borrowed money.
The total-debt and debt-to-equity series, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 16% on reported income across 15 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Domestic institutions added 4.2 points of Bharat Forge Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 32.2% of the company. Foreign institutions moved −2.0 points over the same window, to 15.0%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Domestic institutions: +4.2 points over 8 quarters to 32.2%; Foreign institutions: −2.0 points over 8 quarters to 15.0%; Promoters: −1.2 points over 8 quarters to 44.1%.
Why the register moved: rotation — foreign institutions −2.0 points against domestic institutions +4.2 points over 8 quarters, with promoters −1.2 points — one class of institutions handing the register to the other, not a verdict change by the people closest to the numbers.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Bharat Forge Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Uniparts India LtdUNIPARTS | 80.7/100Sector-leading setup100% evidence | LEADER | 31.6/35 Revenue 27.5% · PAT 85.6% · OPM change 5 pp 100% evidence | 17.4/25 ROCE 21.6% · OPM 24% 100% evidence | 12.7/20 P/E 20.1× · PEG 0.38 100% evidence | 19.0/20 RS sector 23.9% · RS bench 52.9% · 1Y 140.6%12 of 12 weeks ahead 100% evidence |
| Exact sum: 31.6 + 17.4 + 12.7 + 19 = 80.7 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 2Kennametal India LtdKENNAMET | 79.5/100Favorable setup100% evidence | LEADER | 32.3/35 Revenue 29.1% · PAT 91.2% · OPM change 12 pp 100% evidence | 19.1/25 ROCE 33.2% · OPM 27% 100% evidence | 13.5/20 P/E 39.4× · PEG 1.34 100% evidence | 14.6/20 RS sector 14.7% · RS bench 42% · 1Y 69.2%10 of 12 weeks ahead 100% evidence |
| Exact sum: 32.3 + 19.1 + 13.5 + 14.6 = 79.5 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 3Happy Forgings LtdHAPPYFORGE | 61.5/100Mixed-positive evidence100% evidence | LEADER | 23.4/35 Revenue 15.5% · PAT 21.1% · OPM change 2 pp 100% evidence | 16.8/25 ROCE 18% · OPM 31% 100% evidence | 1.5/20 P/E 60.2× · PEG 3.72 100% evidence | 19.8/20 RS sector 34.8% · RS bench 66.2% · 1Y 118.4%9 of 12 weeks ahead 100% evidence |
| Exact sum: 23.4 + 16.8 + 1.5 + 19.8 = 61.5 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 4Amic Forging Ltd544037 | 60.0/100Thin evidence · provisional58% evidence | LEADER | 17.8/35 Revenue — · PAT — · OPM change 5 pp 26% evidence | 19.9/25 ROCE 23.5% · OPM 33% 76% evidence | 7.5/20 P/E 82.7× · PEG — 50% evidence | 14.8/20 RS sector 4.1% · RS bench 29.6% · 1Y 42.7%12 of 12 weeks ahead 100% evidence |
| Exact sum: 17.8 + 19.9 + 7.5 + 14.8 = 60 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 5Captain Technocast Ltd540652 | 59.1/100Thin evidence · provisional51% evidence | TURNING | 20.8/35 Revenue 78.2% · PAT 100% · OPM change -2 pp 48% evidence | 18.1/25 ROCE 29.7% · OPM 12% 76% evidence | 9.4/20 P/E 54.2× · PEG — 50% evidence | 10.8/20 RS sector — · RS bench 27.6% · 1Y —3 of 3 weeks ahead 25% evidence |
| Exact sum: 20.8 + 18.1 + 9.4 + 10.8 = 59.1 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 6Gala Precision Engineering LtdGALAPREC | 59.0/100Mixed-positive evidence80% evidence | LEADER | 27.3/35 Revenue 31.8% · PAT 37.2% · OPM change 1 pp 95% evidence | 14.2/25 ROCE 15.6% · OPM 16.3% 95% evidence | 10.2/20 P/E 33.7× · PEG — 15% evidence | 7.3/20 RS sector -5.9% · RS bench 16.8% · 1Y 22.2%12 of 12 weeks ahead 100% evidence |
| Exact sum: 27.3 + 14.2 + 10.2 + 7.3 = 59 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7Sona BLW Precision Forgings LtdSONACOMS | 58.7/100Mixed-positive evidence97% evidence | LEADER | 22.1/35 Revenue 39.6% · PAT 18.1% · OPM change -1 pp 95% evidence | 12.3/25 ROCE 14.2% · OPM 23% 95% evidence | 7.0/20 P/E 67.9× · PEG 3.04 100% evidence | 17.3/20 RS sector 16.4% · RS bench 44% · 1Y 78%12 of 12 weeks ahead 100% evidence |
| Exact sum: 22.1 + 12.3 + 7 + 17.3 = 58.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8M M Forgings LtdMMFL | 57.2/100Mixed-positive evidence100% evidence | BREAKING OUT | 18.8/35 Revenue 9.6% · PAT 53.1% · OPM change 0 pp 100% evidence | 9.7/25 ROCE 9% · OPM 18% 100% evidence | 12.9/20 P/E 25.3× · PEG 0.66 100% evidence | 15.8/20 RS sector 12.9% · RS bench 39.5% · 1Y 90.7%7 of 12 weeks ahead 100% evidence |
| Exact sum: 18.8 + 9.7 + 12.9 + 15.8 = 57.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 9Uni Abex Alloy Products Ltd504605 | 56.5/100Mixed-positive evidence82% evidence | LEADER | 16.3/35 Revenue 17.2% · PAT 100% · OPM change -7 pp 95% evidence | 15.2/25 ROCE 19.2% · OPM 10.5% 76% evidence | 10.4/20 P/E 19.7× · PEG — 50% evidence | 14.6/20 RS sector 3.4% · RS bench 27.8% · 1Y 42.4%12 of 12 weeks ahead 100% evidence |
| Exact sum: 16.3 + 15.2 + 10.4 + 14.6 = 56.5 · Decision use: Price leads the evidence: RS versus the benchmark is 27.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 10Steelcast LtdSTEELCAS | 56.4/100Mixed-positive evidence100% evidence | LEADER | 15.2/35 Revenue 9.2% · PAT 15.2% · OPM change 0 pp 100% evidence | 18.6/25 ROCE 32.3% · OPM 26% 100% evidence | 8.6/20 P/E 39.3× · PEG 1.7 100% evidence | 14.0/20 RS sector 12.3% · RS bench 38.9% · 1Y 71.9%10 of 12 weeks ahead 100% evidence |
| Exact sum: 15.2 + 18.6 + 8.6 + 14 = 56.4 · Decision use: Price leads the evidence: RS versus the benchmark is 38.9%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 11Tirupati Forge LtdTIRUPATIFL | 52.5/100Mixed-positive evidence80% evidence | BREAKING OUT | 15.9/35 Revenue 42.3% · PAT -8.4% · OPM change 0.1 pp 95% evidence | 8.9/25 ROCE 7.5% · OPM 11.5% 95% evidence | 8.7/20 P/E 139× · PEG — 15% evidence | 19.0/20 RS sector 20.7% · RS bench 48.4% · 1Y 80.8%10 of 12 weeks ahead 100% evidence |
| Exact sum: 15.9 + 8.9 + 8.7 + 19 = 52.5 · Decision use: Price leads the evidence: RS versus the benchmark is 48.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 12Balu Forge Industries LtdBALUFORGE | 50.7/100Mixed-positive evidence94% evidence | BASING | 14.5/35 Revenue 19.8% · PAT 18.1% · OPM change -3 pp 100% evidence | 17.6/25 ROCE 22.7% · OPM 28% 100% evidence | 14.4/20 P/E 22.4× · PEG 1.61 100% evidence | 4.2/20 RS sector -27.9% · RS bench -8.3% · 1Y -18.5%0 of 10 weeks ahead 70% evidence |
| Exact sum: 14.5 + 17.6 + 14.4 + 4.2 = 50.7 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 13CIE Automotive India LtdCIEINDIA | 44.9/100Mixed-negative evidence100% evidence | ASLEEP | 17.5/35 Revenue 12.5% · PAT 14.3% · OPM change 1 pp 100% evidence | 14.4/25 ROCE 14.7% · OPM 15% 100% evidence | 11.4/20 P/E 17.2× · PEG 2.4 100% evidence | 1.6/20 RS sector -26.9% · RS bench -8.3% · 1Y 2.3%0 of 12 weeks ahead 100% evidence |
| Exact sum: 17.5 + 14.4 + 11.4 + 1.6 = 44.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 14Ramkrishna Forgings LtdRKFORGE | 44.5/100Mixed-negative evidence75% evidence | BREAKING OUT | 14.1/35 Revenue 8.6% · PAT -71.3% · OPM change 4 pp 95% evidence | 7.5/25 ROCE 5.6% · OPM 18% 76% evidence | 8.8/20 P/E 116× · PEG — 15% evidence | 14.1/20 RS sector 3.1% · RS bench 29% · 1Y 25.2%5 of 12 weeks ahead 100% evidence |
| Exact sum: 14.1 + 7.5 + 8.8 + 14.1 = 44.5 · Decision use: Price leads the evidence: RS versus the benchmark is 29%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 15Bharat Forge Ltdthis pageBHARATFORG | 42.6/100Mixed-negative evidence75% evidence | FADING | 15.1/35 Revenue 17.5% · PAT -30.1% · OPM change -2 pp 95% evidence | 11.0/25 ROCE 12.6% · OPM 15% 76% evidence | 9.0/20 P/E 97.8× · PEG — 15% evidence | 7.5/20 RS sector -0.8% · RS bench 22.4% · 1Y 81.9%9 of 12 weeks ahead 100% evidence |
| Exact sum: 15.1 + 11 + 9 + 7.5 = 42.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 16Nelcast LtdNELCAST | 39.5/100Mixed-negative evidence87% evidence | ASLEEP | 13.8/35 Revenue 4.2% · PAT -1.8% · OPM change -3.9 pp 95% evidence | 12.1/25 ROCE 11.4% · OPM 4.6% 95% evidence | 11.6/20 P/E 25× · PEG — 50% evidence | 2.0/20 RS sector -25.9% · RS bench -7.5% · 1Y -31.4%5 of 12 weeks ahead 100% evidence |
| Exact sum: 13.8 + 12.1 + 11.6 + 2 = 39.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 17Alicon Castalloy LtdALICON | 37.5/100Mixed-negative evidence81% evidence | TURNING | 11.3/35 Revenue 13.7% · PAT 0% · OPM change -3 pp 95% evidence | 10.0/25 ROCE 10% · OPM 9% 95% evidence | 10.7/20 P/E 31.8× · PEG — 50% evidence | 5.5/20 RS sector -20.7% · RS bench -6.5% · 1Y -12.2%1 of 10 weeks ahead 70% evidence |
| Exact sum: 11.3 + 10 + 10.7 + 5.5 = 37.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 18Sterling Tools LtdSTERTOOLS | 24.4/100Adverse evidence87% evidence | ASLEEP | 6.9/35 Revenue -9.3% · PAT -46.4% · OPM change -0.9 pp 95% evidence | 9.1/25 ROCE 7.2% · OPM 10.6% 95% evidence | 7.2/20 P/E 42.3× · PEG — 50% evidence | 1.2/20 RS sector -32.7% · RS bench -14.7% · 1Y -25.7%5 of 12 weeks ahead 100% evidence |
| Exact sum: 6.9 + 9.1 + 7.2 + 1.2 = 24.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 19Sundaram Clayton LtdSUNCLAY | 23.9/100Adverse evidence74% evidence | ASLEEP | 10.4/35 Revenue -3.9% · PAT 100% · OPM change -1.2 pp 74% evidence | 0.5/25 ROCE -3.3% · OPM 2% 100% evidence | 11.5/20 P/E 11× · PEG — 15% evidence | 1.5/20 RS sector -29.8% · RS bench -11.6% · 1Y -27.2%0 of 12 weeks ahead 100% evidence |
| Exact sum: 10.4 + 0.5 + 11.5 + 1.5 = 23.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 20Synergy Green Industries LtdSGIL | 22.0/100Adverse evidence80% evidence | FADING | 1.9/35 Revenue -2.5% · PAT -80% · OPM change -8 pp 95% evidence | 6.9/25 ROCE 9.2% · OPM 6% 95% evidence | 8.5/20 P/E 175× · PEG — 15% evidence | 4.7/20 RS sector -19.6% · RS bench 0.8% · 1Y 7%8 of 12 weeks ahead 100% evidence |
| Exact sum: 1.9 + 6.9 + 8.5 + 4.7 = 22 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Bharat Forge Ltd's share price today?
Bharat Forge Ltd trades at ₹2,065, +74.9% over the past year. The company is valued at ₹98,725 Cr. The stock sits at 82% of its 52-week range of ₹1,181–₹2,265, +14.3% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 40 weeks in. — as of 14 August 2026.
What were Bharat Forge Ltd's latest quarterly results?
Bharat Forge Ltd reported revenue of ₹4,640 Cr and a net loss of ₹90.0 Cr for the Jun 26 quarter. Revenue rose 18.7% and profit fell 131.7% year on year. Earnings per share were ₹−1.88. The operating margin was 15.0%, 2.0 pp lower than a year earlier. — as of 14 August 2026.
What is Bharat Forge Ltd's revenue?
Bharat Forge Ltd reported revenue of ₹4,640 Cr in the Jun 26 quarter, +18.7% year on year. For the full FY26 fiscal year, revenue was ₹16,812 Cr (+11.2%). Over the last 10 years revenue compounded at 9.5% a year. — as of 14 August 2026.
What is Bharat Forge Ltd's profit?
Bharat Forge Ltd earned ₹−90.0 Cr of net profit in the Jun 26 quarter, −131.7% year on year. Full-year FY26 profit was ₹1,089 Cr. The operating margin ran 15.0% in the latest quarter. — as of 14 August 2026.
What is Bharat Forge Ltd's market cap?
Bharat Forge Ltd's market capitalisation is ₹98,725 Cr at a share price of ₹2,065. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 14 August 2026.
What is Bharat Forge Ltd's P/E ratio?
Bharat Forge Ltd trades at a P/E of 97.8×, at the 96th percentile of its own 11-year range, against a long-run median of 48.6×. This is a comparison with the stock's own history, not a value call — as of 14 August 2026.
Does Bharat Forge Ltd pay a dividend?
Yes — Bharat Forge Ltd's dividend payout was 38% of profit in FY26, and it recorded a payout in 12 of its last 13 reported fiscal years. One of those years shows a negative ratio because profit itself was negative. This page holds the payout ratio, not a per-share amount. — as of 14 August 2026.
Is Bharat Forge Ltd overvalued?
On its own history, Bharat Forge Ltd looks expensive: its P/E of 97.8× sits at the 96th percentile of its 11-year range (long-run median 48.6×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 14 August 2026.
Is Bharat Forge Ltd growing?
Not right now — Bharat Forge Ltd's latest numbers are shrinking: latest-quarter revenue +18.7% year on year, profit −131.7%, and the margin −2.0 pp at 15.0%. The 10-year compound rates are 9.5% (revenue) and 4.9% (profit). The earnings engine currently reads: deteriorating — as of 14 August 2026.
How is Bharat Forge Ltd performing?
Bharat Forge Ltd is in a confirmed uptrend, 40 weeks in. Its latest quarter's revenue rose 18.7% and profit fell 131.7% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 50 weeks. This describes what the data did, not a rating. — as of 14 August 2026.
What stage is Bharat Forge Ltd in?
Mixed — revenue growth is rising at +17.5% while profit growth is falling at −30.1% — the curves disagree, so the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth +17.5% latest, profit growth −30.1% latest, eps growth −31.3% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 14 August 2026.
Is Bharat Forge Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 40 of stage 2), trading +14.3% versus its 200-day average and at 82% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 14 August 2026.
Is Bharat Forge Ltd beating the market?
On recent form, yes — Bharat Forge Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 50 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.5 years the stock moved +456% against the NIFTY 500's +284% — ahead of the index over the full window. — as of 14 August 2026.
Will Bharat Forge Ltd's share price go up?
This page publishes no price forecast for Bharat Forge Ltd. What it measures instead: the share price is ₹2,065, the price is in a confirmed uptrend 40 weeks in. Its P/E of 97.8× sits at the 96th percentile of its own 11-year range. — as of 14 August 2026.
Who owns Bharat Forge Ltd?
Promoters hold 44.1% of Bharat Forge Ltd, foreign institutions 15.0%, domestic institutions 32.2% and the public 8.5% (latest quarter). The biggest move on the register over the last two years: Domestic institutions added 4.2 points over 8 quarters. — as of 14 August 2026.
Does Bharat Forge Ltd have too much debt?
It is moderate — Bharat Forge Ltd's debt-to-equity is 0.76, and operating profit covers the interest bill 9×. FY26 borrowings were ₹7,309 Cr against equity of ₹9,580 Cr. Read the returns on this page with that leverage in mind — as of 14 August 2026.
What is Bharat Forge Ltd's capex?
Bharat Forge Ltd spent ₹5,344 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹2,125 Cr, with ₹1,298 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 14 August 2026.
What is Bharat Forge Ltd's cash flow?
Bharat Forge Ltd generated ₹1,487 Cr of operating cash flow in FY26 and ₹−638 Cr of free cash flow after ₹2,125 Cr of capital spending. Reported profit that year was ₹1,089 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 14 August 2026.
Is Bharat Forge Ltd's profit real cash?
Yes — over the last 3 fiscal years, 170% of Bharat Forge Ltd's reported profit arrived as operating cash. Though the latest year ran at 137% — the trend is the thing to watch. In FY26, operating cash was ₹1,487 Cr against reported profit of ₹1,089 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 14 August 2026.
Where is Bharat Forge Ltd in its business cycle?
Bharat Forge Ltd's FY26 operating margin was 17.0%, against a 13-year band of 13.0%–21.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 15.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 14 August 2026.
What could break the Bharat Forge Ltd story?
The sharpest disagreement: the price moved +74.9% in a year while annual EPS moved +14.7% — the difference is re-rating, and re-rating has to be repaid with earnings. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 14 August 2026.
Is Bharat Forge Ltd a stock worth studying right now?
This is not investment advice. The machine read: Bharat Forge Ltd's price has outrun its earnings. +74.9% in a year against EPS +14.7% — the market is paying now for delivery later. The sharpest open question: whether earnings grow into a price that has already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 14 August 2026.