Key Highlights – Q2 FY26 (Standalone)

• Revenue: ₹1,947 crore, down 7.5% QoQ, impacted by a slowdown in North American Commercial Vehicle (CV) demand.
• EBITDA: ₹545 crore; EBITDA margin at 28%, up 10 bps QoQ driven by a favorable product mix.
• PBT (before exceptional items): ₹432 crore, down 7.2% QoQ due to weaker export volumes.
• PAT: ₹310 crore compared to ₹339 crore in Q1 FY26.

Consolidated Highlights – Q2 FY26

• Revenue: ₹4,032 crore, up from ₹3,909 crore in Q1 FY26, supported by strong performance in Indian manufacturing and defence segments.
• EBITDA: ₹715 crore; consolidated with margin at 17.7%.
• PBT (before exceptional items): ₹445 crore.

Business Developments

• New Orders Secured (H1 FY26): ₹1,582 crore, including ₹559 crore in Defence.
• Defence Order Book (as of H1 FY26): ₹9,467 crore.
• Bharat Forge completed the transfer of all defence-dedicated assets to its wholly owned subsidiary, Kalyani Strategic Systems Limited (KSSL), to strengthen its focus on the defence segment.

Chairman and Managing Director Mr. Baba Kalyani shared:

“The quarterly performance was impacted by the sharp decline in the North American truck production and the resulting inventory destocking. Standalone Revenues declined by 7.5% sequentially to Rs 1,947 crores, impacted by 16% drop in revenues to North America. CV exports to North America declined by  48% sequentially and 63% on a YoY basis. Because of the constant endeavor towards de-risking the business, the impact was minimized with EBITDA coming in at Rs 545 Crores (EBITDA margins of 28%) and PBT of Rs 432 crores.

Consolidated revenue & EBITDA in Q2 came in at Rs 4,032 Crore and Rs 715 crores respectively. The balance sheet remains robust with Cash of Rs 2,309 crores and ROCE (net) of 15.5%. Indian manufacturing, a key focus area and growth driver for the company registered revenues of Rs 2,746 Crores and EBITDA of RS 676 crores.

The company secured new orders worth Rs 1,582 Crores including Rs 559 crores in Defence in H1 FY26. As of H1FY26, the defence order book stood at Rs 9,467 crores.  We have transferred all the Defence dedicated assets of Bharat Forge to our wholly owned subsidiary KSSL. On the business front we expect to conclude more order wins for platforms/ projects we have participated in.

The US & European operations saw weakness driven by seasonality and prevailing sentiments. Review of the European steel manufacturing footprint is on track, and we expect to have concrete measures in place by the end of this fiscal. Given the challenging demand conditions in North America, we are witnessing exports into that region declining further in H2 FY26. However, we expect the industrial business across India, exports to non-US geographies and ramp up in defence business to more than offset the weakness in US exports. Our India manufacturing operations focusing on capturing opportunities in Defence, Aerospace, Castings and Aggregates across markets continue to make steady progress in their journey.”

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More than 90% allocation was made to marquee Domestic & Foreign Long Only funds and Insurance Companies. The issue of the QIP was done at Rs 1,320 per share while the floor price as per SEBI ICDR was Rs 1,323.54 per share. The QIP proceeds will be utilized for debt repayment and funding of earlier announced inorganic growth initiatives.

Mr. Amit Kalyani, Vice Chairman & Jt. Managing Director, commented “ We are thankful to the existing and new investors for the overwhelming response to the capital raise and for reaffirming their trust in the management in the transformational journey we are undertaking. We are committed to deliver enhanced growth creating value for all the stakeholders “.

Kotak Mahindra Capital Company Limited and Morgan Stanley India Company Private Limited acted as the Book Running Lead Managers (BRLM) for the issue. Khaitan & Co acted as the legal counsel to Bharat Forge while Shardul Amarchand Mangaldas & Co. and Freshfields Bruckhaus Deringer acted as legal counsel to the BRLM’s.

The post Bharat Forge Limited successfully raises Rs 1,650 Crores through QIP appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.