Bharat Forge Ltd · NSE:BHARATFORG
Bharat Forge — Q2 FY25 Earnings Presentation
14 slides from Bharat Forge's earnings presentation, November 2024
Slide 1: Q2 FY25 Analyst Update
Q2 FY25 ANALYST UPDATE Inspiring Innovation. Worldwide. Automotive | Renewable Energy | Oil & Gas | Defence | Aerospace | Marine | Construction & Mining | Rail
Slide 2: Management Commentary: Q2 FY25 Performance
Management Commentary: Q2 FY25 Performance BFL 3 Month Report: “The company reported a consolidated revenue of Rs 3,689 Crore and EBITDA of Rs 690 Crore. Despite a YoY revenue de-growth of 2.3% driven by weakness in European automotive markets, EBITDA grew by 10.8% resulting in margin improvement by
Slide 3: Standalone Financial Highlights Q2FY25
Standalone Financial Highlights Q2FY25 Revenue 22,467 23,381 22,494 Revenues at Rs 22,467 million in Q2FY25 was flat YoY. While domestic revenues were up 12%, export revenues were down 9% primarily led by weakness in European CVs. Q2 FY25 Q1 FY25 Q2 FY24 EBITDA 6,477 6,576 6,160 EBITDA margin at 28.
Slide 4: Review of India Business
Review of India Business Commercial Vehicles Automotive Business: The CV business remained soft YoY as domestic demand remained sluggish. The sector has seen stupendous growth over the 2,489 2,603 last 2-3 years. The government’s capex push, increased construction & 2,199 manufacturing activity in t
Slide 5: Review of Export Business
Review of Export Business Commercial Vehicles 5,198 5,318 5,474 Automotive Business: Export CV business continued to show growth. Europe remained a pain point as growth continues to languish. Ex of Europe our CV export business reported a 14% YoY improvement indicating resilience in underlying deman
Slide 6: Export Break up by Geography
Export Break up by Geography Rs. Million Particulars Q2FY25 Q1FY25 Q2FY24 Americas 8,555 7,912 8,151 Europe 2,651 3,175 3,327 Asia 543 615 1,393 Total 11,749 11,702 12,871
Slide 7: Consolidated Financial Highlights – Q2FY25
Consolidated Financial Highlights – Q2FY25 Revenues 36,885 41,061 37,742 2.3% decline in revenues primarily driven by weakness in the European markets. Rs. Million Q2FY25 Q1FY25 Q2FY24 Particulars September 30, 2024 March 31, 2024 Long Term Debt 23,948 24,605 EBITDA 6,895 7,592 EBITDA margins have i
Slide 8: Financials Annexures
s BHARAT FORGE x KALYANI Financials Annexures
Slide 9: Standalone P&L Highlights – Q2 FY25 & H1 FY25
Standalone P&L Highlights – Q2 FY25 & H1 FY25 Rs. Million Standalone Financials Q2 FY25 Q1 FY25 QoQ Q2 FY24 YoY H1 FY25 H1 FY24 YoY Shipment Tonnage 64,098 67,501 (5.0)% 70,509 (9.1)% 131,599 138,537 (5.0) Domestic Revenue 10,443 11,407 (8.5)% 9,310 12.2% 21,850 18,520 18.0% Export Revenue 11,749 11
Slide 10: Standalone B/S Highlights – Q2 FY25
Standalone B/S Highlights – Q2 FY25 Rs. Million Particulars (Standalone) September 30, 2024 March 31, 2024 Long Term Debt 12,839 17,107 Working Capital Loan & Bill Discounting 27,584 26,892 Equity 88,243 85,688 Cash 19,372 25,250 ROCE (Net of Cash) 20.5% 20.0% RONW 15.8% 16.6% D/E (Net) 0.24 0.22 Ne
Slide 11: Consolidated Financials Reconciliation
Consolidated Financials Reconciliation Rs. Million Q2 FY25 Indian Operations Overseas Operations E-Mobility Consolidated Total Revenue 25,409 11,447 29 36,885 EBITDA 6,870 160 (135) 6,895 EBITDA % 27.0% 1.4% - 18.7% PBT 5,365 (1,136) (199) 4,030 Exchange Gain/(loss) (178) 3 2 (173) Exceptional Items
Slide 12: Overseas Financial Highlights – Q2 FY25
Overseas Financial Highlights – Q2 FY25 Rs. Million European Mfg. Ops Q2 FY25 Q1 FY25 Q2 FY24 Total Revenue 9,529 10,609 10,122 EBITDA 376 370 353 EBITDA % 3.9% 3.5% 3.5% PBT Before Ex Gain/(Loss) (527) (529) (544) US Mfg. Ops Q2 FY25 Q1 FY25 Q2 FY24 Total Revenue 1,918 2,591 1,931 EBITDA (216) (235
Slide 13: Indian Subsidiary Financials – Q2 FY25
Indian Subsidiary Financials – Q2 FY25 Rs. Million KSSL Q2 FY25 Q1 FY25 Q2 FY24 Total Revenue 4,682 5,035 2,962 EBITDA 333 331 169 EBITDA% 7.1% 6.6% 5.7% PBT Before Exchange Gain/(Loss) 376 388 311 KPTL Q2 FY25 Q1 FY25 Q2 FY24 Total Revenue 29 30 99 EBITDA (135) (186) (299) EBITDA% - - - PBT Before
Slide 14: Thank You
Thank You Rajhagopalan S Tel: +91 9860144866 Email: [email protected] Chinmay Chhatre Tel: +91 9930512932 Email: [email protected] Automotive | Renewable Energy | Oil & Gas | Defence | Aerospace | Marine | Construction & Mining | Rail