Bharat Forge - Multiple Growth Drivers In Place: HDFC Securities Initiates Coverage

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..HDFC Securities Institutional Equities.Bharat Forge Ltd.’s recent stock underperformance has been attributed to: concerns around slowdown in Europe and U.S. amid geopolitical tensions;the sharp rise in input costs (including energy), which has hurt margins; andsustained supply chain disruption, which has limited demand momentum. However, Bharat Forge’s Q4 performance has allayed most of the fears, with consolidated earnings climbing up 18% YoY, led by strong performance across key segments. Going forward, we expect standalone demand momentum to be strong, led by:recovery in domestic auto demand and new defense orders;strong export demand in U.S. Class 8 and new passenger vehicle orders. We also expect subsidiary performance to remain upbeat on the back of new order wins and recent restructuring. Also, near-term cost headwinds are likely to be partially mitigated by favorable currency movement and healthy revenue growth..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Bharat Forge - Multiple Growth Drivers In Place: HDFC Securities Initiates Coverage

Bharat Forge - Multiple Growth Drivers In Place: HDFC Securities Initiates Coverage

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