Bharat Forge · Annual Report · FY 2025-26 Download Full Report

We managed our financial capital with a clear focus on resilience, disciplined allocation, and future-ready growth. Our strong balance sheet, healthy liquidity, and prudent leverage gave us the flexibility to invest in high-growth opportunities, support our subsidiaries, fund capacity expansion, and address underperforming assets with sharper intent.

Material topics linked

M1

Risks Linked

R1 R3 R5

UN SDGs Linked

UN Sustainable Development Goals linked

Incubation/ Investment underpinned by strong balance sheet

Bharat Forge maintained a healthy Standalone net cash position (net of long-term loans) of ₹4,638 million. A strong cash position and low leverage gives us the flexibility to incubate new technologies and build capabilities ahead of time. Our balance sheet strength allows us to pursue Mergers and Acquisitions with limited dependency on external financing.

Allocating capital to high-value platforms

We have always prioritized investments in high-value complex projects. Our planned investments across forging, machining and products platforms is a step in that direction. Our capital allocation remained focused on businesses with stronger growth visibility, including aerospace and defense, where long-term programs represent healthy revenue accretion as well as recurring business pipeline for maintenance, support, and spares.

Revenue (₹ million)

Revenue chart FY 21-22 to FY 25-26

EBIT (₹ million)

EBIT chart FY 21-22 to FY 25-26

Profit Before Tax (₹ million)

Profit Before Tax chart FY 21-22 to FY 25-26

Profit After Tax (₹ million)

Profit After Tax chart FY 21-22 to FY 25-26

Net Worth (₹ million)

Net Worth chart FY 21-22 to FY 25-26

Net Debt to Equity Ratio (X)

Net Debt to Equity Ratio chart FY 21-22 to FY 25-26

RoCE (Net of Cash) (%)

RoCE Net of Cash chart FY 21-22 to FY 25-26

RoNW (%)

RoCE Net of Cash chart FY 21-22 to FY 25-26

All numbers on standalone basis

Value created for shareholders

Market Capitalization (₹ million)

Market Capitalization chart FY 21-22 to FY 25-26

What’s next

  • Maintain a strong balance sheet and healthy liquidity to support organic and inorganic growth
  • Deploy capital toward India-led opportunities across sectors
  • Prioritize capital allocation toward businesses with stronger return visibility and long-term growth potential
  • Sustain RoCE through operational efficiency and greater in-house value addition