In-line operating performance led by non-autos

Company
11 Mar 2024
5 Min read 
  • Bharat Forge's 3QFY24 standalone performance was in line with estimates.
  •  Near-term outlook is cautious, with demand moderation likely in FY25 across sectors/geographies.
  •  Consol. financials show growth in sales, EBITDA, and adjusted PAT over the next few years.
  •  Overseas subsidiaries expected to post mid to high single-digit EBIDTA margin in FY25.
  •  Management expects growth momentum to sustain in the medium to long term.
  •  Reiterate BUY rating with a target price of INR1,315.
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