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The Bharat Forge Ltd shares have moved higher by 8 per cent to Rs 749, also its 52-week high on the BSE in intra-day trade on Friday after the company reported a consolidated profit after tax of Rs 212 crore for the March quarter (Q4FY21), on healthy sales income. The auto ancillary company had posted a loss of Rs 68.6 crore in Q4FY20. The stock had hit a record high of Rs 800 on March 1, 2018.
The company’s revenue from operations grew 19.6 per cent to Rs 2,083 crore in Q4FY21, as against Rs 1,742 crore in the year-ago quarter. Despite cost inflationary pressures, EBITDA (earnings before interest, taxes, depreciation, and amortization) has increased by 310 basis points, the company said.
“During the quarter, the company has been declared as the successful bidder for Sanghvi Forgings based in Vadodara. This enhances the company’s footprint in India and builds upon our industrial product manufacturing capabilities. The company recently also secured an order from the government for development and supply of components and products and the same shall be executed by end of September 2021,” the firm said.
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