BHARAT FORGE LTD.

GENERAL OVERVIEW
Bharat Forge Limited is a Pune-based Indian multinational company
involved in automotive, power, oil & gas, construction & mining,
locomotive, marine and aerospace industries. The company has now
entered into the defence sector and is moving from being a components
manufacturer to a complete product maker. I would like to take this
company because It is a debt-free company with no liquidity issues and
the cash burn during lockdown is likely to be limited to employee costs
and they now also engage in producing arm product also which I think
will result into good performance.

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SHARE HOLDING PATTERN OF BHARAT FORGE
LTD.
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HOLDER’S NAME NO OF SHARES %SHARE
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HOLDING
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No of shares 465588632 100%

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Promoters 213061840 45.76%

Foreign institute 96433222 20.71%
N banks mutual funds 41672498 8.95%
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Central govt 824094 0.18%

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Others 33975870 7.3%

General public 48170346 10.35%
Financial institutes 31449962 6.75%
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GDR 800 0%
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MANAGEMENT OF BHARAT FORGE LTD.

Amit b Kalyani Executive director

B N Kalyani CEO
B N Kalyani Chairman &Managing Director

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 B P Kalyani Executive director
Dipak mane Independent Director
G K Agarwal Deputy Managing Director
Kishore saletore Chief Financial Officer
Kishore saletore Executive Director
Lalita D Gupte Independent Director
Murali sivaraman Independent Director
P C Bhalerao Non Executive Director
P H Ravikumar Independent Director
Pratap G Pawar Independent Director
S E Tandale Executive Director
S M Thakore Independent Director
Tejaswini Chaudhari Co. Secretary & Compl. Officer

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Tejaswini Chaudhari Secretary

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Vimal Bhandari Independent Director

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SWOT ANALYSIS OF BHARAT FORGE LTD.
STRENGTH
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 Company with Zero Promoter Pledge

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 FII / FPI or Institutions increasing their shareholding

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WEAKNESSSES
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 Companies with growing costs YoY for long term projects

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 Poor cash generated from core business - Declining Cash

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Flow from Operations for last 2 years

 Degrowth in Revenue and Profit

 Decline in Net Profit (QoQ)

 Decline in Quarterly Net Profit (YoY)

 Decline in Net Profit with falling Profit Margin (QoQ)

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  Decline in Quarterly Net Profit with falling Profit Margin
(YoY)

 Degrowth in Quarterly Revenue and Profit in Recent

Results

 Declining Revenue every quarter for the past 4 quarters

 Declining profits every quarter for the past 2 quarters

 Major fall in TTM Net Profit

 Recent Results : Fall in Quarterly Revenue and Net Profit

(YoY)

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 Recent Results: Declining Operating Profit Margin and Net

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Profits (YoY)

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OPPURTUNITIES
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 Brokers upgraded recommendation or target price in the
past three months
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 Positive breakout Third resistance ( LTP > R3)

 RSI indicating price strength

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THREATS
 Profit to Loss Companies
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 Recent broker downgrades in reco or target price

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 Degrowth in Revenue, Profits and Operating Profit Margin

in recent results (QoQ)

 Increasing Trend in Non-Core Income

 Stocks with high PE (PE > 40)

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 COMPETITION ANALYSIS
Name Last Market Sales Net Profit Total
assets
Price Cap. Turnover
Bharat Forge 358.80 16,705.32 4,563.88 473.52 8,325.98
Electrosteel St 31.00 6,081.19 3,466.54 -6,138.85 7,048.24
Ratnamani Metal 1,059.05 4,948.73 2,583.14 307.50 1,928.12
Welspun Corp 79.60 2,076.64 4,253.39 268.14 2,321.24
Srikalahasthi190.10 887.74 1,662.90 187.68 1,905.48
Electrosteel 14.80 640.77 2,479.89 98.59 3,853.76
Gandhi Spl Tube 191.20 247.00 80.94 21.37 146.57
Geekay Wires 70.80 74.00 217.83 2.86 93.57
Kalyani Forge 138.90 50.53 286.35 6.96
149.17

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CONCULSION

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According to me I think Bharat forge is going to hit a lot many

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opportunities in new future as it engage in arm department also
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and looking at the current situation I think it will be a great deal
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for them to take advantage of the current situation and if we
looking at its scenario of debt and all I saw a good recorded so I
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don’t think they will have much problem in this situation.

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