Rs 2.50/Share Dividend: Auto Ancillaries Stock Tanks 14.89% In 1-Week, Q3 Net Up 223%

Large cap company from the Auto Ancillaries company Bharat Forge shares tanked 14.89% in last 1-week only despite announcing healthy Q3 results and declaring an interim dividend of Rs 2.50 per share. Last trading price of Bharat Forge shares on BSE is Rs 1082.55 per share with intraday fall of 4.22%. Bharat Forge shares gained 23% in last 1-year and fell 12% year-to-date. Check details below:

Bharat Forge Declares Interim Dividend: As per the BSE filing of the company dated February 12, 2024, "declared an interim dividend of Rs. 2.50 per equity share of the face value of Rs. 2 each of the Company (at the rate of 125%)."

The interim dividend shall be paid on or before Tuesday, March 12, 2024 to the equity shareholders of the Company, whose names appear in the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Friday, February 23, 2024 which is the Record Date fixed for the purpose, added the BSE filing.

Bharat Forge Approves Fund-Raising: The company in its regulatory filing dated February 12, 2024, "Accorded in-principal approval for raising funds not exceeding Rs. 5,000,000,000/- (Rupees Five Thousand Million) through term loan, non-convertible debentures or any other debt instruments and delegated authority to Investment Committee - Strategic Business of the Company in this regard."

Bharat Forge Q3 Results: The leading Pune-based company on February 12 declared a jump of 223% in its consolidated net profit to Rs 254.45 crore for the quarter ended December 31, 2023 as against the net profit of Rs 78.71 crore for the corresponding quarter of last year. The company's revenue also surged by 15.7% to Rs 3922.96 crore year-on-year (YoY) for the December 2023 quarter as compared to Rs 3389.95 crore in the similar quarter of last year.

The company's EBITDA surged 30.9% to Rs 645 crore for the quarter under review and EBITDA margin for the quarter arrived at 28.5%, surge of 330 bps amid favourable product mix and cost optimization emphasis.
Bharat Forge expects further growth in this figure as new verticals expand and its presence in the industrial sector boosts. During the quarter, the company secured new business worth Rs 550 crore across various sectors.

Bharat Forge Shares Performance & Return: The 52-week high price of Bharat Forge shares on BSE is Rs 1330.00 apiece and 52-week low price is Rs 744.00 apiece, respectively. The company has a market capitalisation of Rs 50,274.11 crore. Bharat Forge shares declined 13% in last 1-month, soared 12% in last 6-months, rallied 49% in last 2-years, and offered return of 71% in last 3-years. In last 5-years, Bharat Forge shares gained 129%.

Bharat Forge About: The world's largest forging company with manufacturing facilities spread across India, Germany and Sweden, Bharat Forge manufactures a wide range of high performance,critical & safety components for the automotive & non-automotive sector. Technology driven global leader in metal forming having transcontinental presence across eight manufacturing locations, serving several sectors including automotive, power, oil and gas, construction & mining, locomotive, marine and aerospace, according to its official website.

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