Bharat Forge Q3 Earnings Results Out: Profit Jumps 28%, Revenue Beats Estimates Despite Margin Pressure

Bharat Forge reported a mixed but steady set of results for the December quarter on February 12. While the company delivered strong growth in revenue and operating profit, its profit came in below market expectations and margins softened compared to last year.

Overall, the numbers showed that the company’s core business remained resilient, even as profitability faced some pressure.

Net Profit Rises, But Misses Estimates

On a consolidated basis, Bharat Forge’s net profit rose 28% year-on-year to ₹272.8 crore, compared with ₹213 crore in the same quarter last year.

However, the profit figure was lower than the CNBC-TV18 poll estimate of ₹338 crore, indicating that higher costs and lower margins likely affected the final bottom line.

Revenue Growth Remains Strong

The company reported a strong rise in consolidated revenue for the quarter.

Revenue increased 25% year-on-year to ₹4,343 crore, up from ₹3,476 crore in the corresponding quarter last year. This figure also came in above the poll estimate of ₹4,045 crore, showing that demand and order execution remained healthy.

EBITDA Beats Estimates, Margin Narrows

Bharat Forge’s consolidated EBITDA (operating profit) grew 20.3% to ₹750.3 crore, compared with ₹624 crore a year ago. This was also higher than the poll estimate of ₹714 crore.

However, the EBITDA margin narrowed to 17.3%, down from 18% last year and slightly below the estimated 17.7%. This suggests that the company faced higher input costs or pricing pressure during the quarter.

Standalone Performance Was Weaker

On a standalone basis, Bharat Forge reported a weaker performance compared to its consolidated numbers.

• Net profit fell 16.8% to ₹288 crore from ₹346 crore
• Revenue remained flat at ₹2,084 crore, compared with ₹2,096 crore
• EBITDA declined 7.2% to ₹566 crore from ₹609.5 crore
• EBITDA margin dropped to 27.2% from 29%

This indicates that the strength in the consolidated business was supported by other segments beyond the standalone operations.

Bharat Forge Share Price Reaction

After the results, Bharat Forge share price traded higher. The stock was at ₹1,731.20 on the NSE, up 3.27%, and touched an intraday high of ₹1,736.60.

Read more: Jupiter Wagons Q3 FY26 Earnings Results Out: Net Profit Falls Over 35%, Share Price in Focus.

Conclusion

Bharat Forge delivered strong revenue growth and a better-than-expected operating profit in Q3. However, softer margins and a profit miss versus estimates kept the performance mixed. The market still reacted positively, likely supported by strong topline momentum and improving outlook expectations.

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