Bharat Forge Q3 Results 2026: Bharat Forge posted its results for the quarter ended December 2026 (Q3FY26) on Thursday, December 12. The company posted a standalone net profit of ₹288 crore, down almost 17% from ₹346 crore in the same period last year.
Its standalone revenue from operations also marginally, at 0.6% to ₹2983.7 crore in Q3FY26 as against ₹2096 crore in year-ago period.
On a consolidated basis, the company reported its revenue rising 25% year-on-year to ₹4,343 crore from ₹3,476 crore in the year-ago period while net profit climbed 28.2% year-on-year to ₹273 crore, up from ₹213 crore in the corresponding quarter last year. The quarterly performance included a one-time cost of ₹55.7 crore in Q3 FY26, which impacted margins.
EBITDA also increased 20% to ₹750 crore, compared to ₹624 crore a year earlier, while EBITDA margin moderated to 17.3% from 18%.
Dividend
The Board also declared an interim dividend of Rs. 2/- (Rupees Two only) per equity share with a face value of Rs. 2 each (a 100% rate on face value). This dividend is scheduled to be paid on or before Thursday, March 12, 2026. The record date set for the interim dividend payout is Wednesday, February 18, 2026.
Management Commentary
Commenting on the quarter, BN Kalyani, Chairman and Managing Director of Bharat Forge, said the performance continued to be impacted by de-stocking in the North American CV market. “The quarterly performance continued to be impacted by the de-stocking in the North American CV market,” he said, adding that strong growth in the domestic automotive business and execution of the defense order book supported results.
Sequentially, standalone revenue rose 7.0% QoQ to ₹Rs 2,084 crore, EBITDA increased 4.6% QoQ to ₹569 crore, and margins stood at 27.3%. Export revenue declined 3% Qoq, with auto exports down 13% and industrial exports up 11%, noted Kalyani.
During Q3, the company secured new orders worth ₹2,388 crore, including ₹1,878 crore in defence, taking the defense order book to ₹11,130 crore as of December 31, 2025. The company also signed the CQB Carbine contract with the Ministry of Defense for supply of over 250,000 units, unlocking growth for its small arms business. “Looking ahead, the worst is behind us and we expect high double-digit topline growth with a commensurate impact on profitability,” Kalyani said.
The stock was trading 2.7% higher at ₹1722.35 on BSE post the announcement of its results.
