Bharat Forge Q4 FY26 profit falls 17% to ₹233 crore, revenue up 17.5%
Bharat Forge, led by Chairman and Managing Director Baba Kalyani, on Thursday, 7 May 2026, reported a 17.4% year-on-year (YoY) decline in consolidated net profit for the fourth quarter of FY26 (Q4 FY26). The Pune-headquartered forged and machined components manufacturer posted a consolidated profit after tax (PAT) of ₹233.44 crore, down from ₹282.62 crore in the same quarter a year ago, according to its stock exchange filing.
Revenue and Operational Performance
Despite the profit dip, Bharat Forge's revenue from operations climbed 17.53% to ₹4,528.04 crore in Q4 FY26, compared to ₹3,852.6 crore in Q4 FY25, driven by broad-based growth across key business segments. The divergence between robust revenue growth and a declining bottom line points to rising costs absorbing a significant share of incremental earnings.
At the operational level, earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 14.21% to ₹778 crore from ₹681 crore in the year-ago quarter. EBITDA margin improved marginally to 17.81% from 17.68% a year earlier, signalling that operating efficiency held largely steady even as net profitability came under pressure.
Dividend Announcement
The company's board has recommended a final dividend of ₹6.50 per equity share — on shares with a face value of ₹2 each — for FY26, subject to shareholders' approval at the upcoming annual general meeting (AGM). If approved, the dividend will be paid on or after 14 August 2026.
New Orders and Defence Push
Commenting on the results, Baba Kalyani said the company secured new orders worth ₹4,814 crore during FY26, with defence contracts accounting for a substantial ₹2,816 crore of that total. The defence order pipeline underscores Bharat Forge's strategic pivot toward high-margin government contracts amid global uncertainty in commercial vehicle demand.
Kalyani also outlined restructuring plans for the steel business of CDP Bharat Forge.
