Bharat Forge Reports Sequential Revenue and Profit Growth in Q3 FY26

Pune, Feb 12 (TNT) : Bharat Forge Limited (BFL) on Thursday reported a steady sequential improvement in revenue and profitability for the third quarter of FY26, supported by strong domestic automotive demand and rising defence execution, despite continued weakness in the North American commercial vehicle market.

For the quarter ended December 31, 2025, standalone revenue increased 7.0 percent quarter-on-quarter (QoQ) to ₹2,084 crore, while EBITDA rose 4.6 percent QoQ to ₹569 crore, the company said in a release here.

EBITDA margin stood at 27.3 percent, reflecting a marginal decline due to product mix and tariff-related costs.

Profit before tax (PBT), before exceptional items, improved 2.7 percent QoQ to ₹443 crore, while the company reported a profit after tax (PAT) of ₹288 crore for the quarter.

The company noted that performance continued to be impacted by de-stocking in the North American commercial vehicle (CV) market, partially offset by strength in domestic demand and defence deliveries.

Export revenues declined 3 percent sequentially, with the automotive export segment down 13%, while the industrial exports segment grew 11% during the quarter.

During Q3 FY26, Bharat Forge secured new orders worth ₹2,388 crore, of which ₹1,878 crore came from the defence segment.

As of December 31, 2025, the company’s defence order book stood at a healthy ₹11,130 crore.

A key highlight was the signing of the Close Quarter Battle (CQB) Carbine contract with the Ministry of Defence for the supply of over 2.5 lakh units to the Indian Armed Forces.

The order is expected to unlock significant growth opportunities for Bharat Forge’s small arms vertical within its defence portfolio.

Commenting on the performance, Chairman and Managing Director Baba Kalyani said the company believes the worst phase is behind it, adding that with improving domestic and export markets and the commencement of ATAGS execution in H2 FY27, Bharat Forge expects high double-digit revenue growth with a corresponding improvement in profitability going forward.

TNT KS