Operating performance in line

Company

09 May 2024 | 5 Min Read

Bharat Forge 4QFY24 results update

Downgrade to Neutral with TP of INR1,370

Operating performance in line, positives appear fully priced in

Losses in subsidiaries rise sequentially

Management interaction highlights demand outlook, new orders, and overseas subsidiaries

Defense expected to be key growth driver over FY24-26E