Bharat Forge Q2 FY16: Analysis and Strategy
Keywords: Bharat Forge Stock/Share prices, Bharat Forge Live BSE/NSE, F&O Quote of Bharat Forge with Historic price charts for NSE / BSE. Experts & Broker view.
Bharat Forge - Bharat Forge stock Chart - Balance sheet - Bharat Forge News
Bharat Forge Limited, is a Pune-based Indian multinational company involved in automotive, power, oil and gas, construction & mining, locomotive, marine and aerospace industries. The company was founded by Nilkanthrao Kalyani in 1961.
Bharat Forge (Q2 FY16) – Accumulate
CMP Rs816, Target Rs910, Upside 11.5%.
Bharat Forge Q2 FY16: result update
Analysis and Strategy
- Revenues at Rs. 1,117cr lower by 1.9% yoy; lower than our estimates
- Tonnage volumes were higher by 3.8% yoy and 5.1% qoq
- Realizations were lower by 5.5% yoy and 5.9% qoq
- OPM at 28.8% was higher by 25bps yoy but was lower than expectations, benefits of lower raw materials cost and manufacturing expenses were offset by higher staff and other overheads costs
- PAT at Rs. 175cr declined by 2% yoy and 10.4% qoq; was lower than our estimates
- Cut our estimates to factor in persistent weakness in the oil and gas segment and also increasing slowdown in other non-auto exports business, also factoring in slowdown in US CV business
- Downgrade to Accumulate with a revised price target of Rs.910
Source:
No comments:
Post a Comment