Bharat Forge Limited
Bharat Forge Limited engages in the manufacture and sale of forged and machined components in India and internationally. It operates through three segments: Forgings, Defence, and Others. The company offers automotive components comprising crankshafts, connecting rods, emission/after treatment, and fuel injection systems; chassis, such as front axle beams, steering knuckles, control arms, knuckle… Read more
Bharat Forge Limited (BHARATFORG) - Net Assets
Latest net assets as of September 2025: ₹93.28 Billion INR
Based on the latest financial reports, Bharat Forge Limited (BHARATFORG) has net assets worth ₹93.28 Billion INR as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₹207.28 Billion) and total liabilities (₹114.00 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₹93.28 Billion |
| % of Total Assets | 45.0% |
| Annual Growth Rate | 15.57% |
| 5-Year Change | 69.28% |
| 10-Year Change | 170.48% |
| Growth Volatility | 31.93 |
Bharat Forge Limited - Net Assets Trend (2005–2025)
This chart illustrates how Bharat Forge Limited's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Bharat Forge Limited (2005–2025)
The table below shows the annual net assets of Bharat Forge Limited from 2005 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | ₹92.21 Billion | +28.68% |
| 2024-03-31 | ₹71.65 Billion | +6.29% |
| 2023-03-31 | ₹67.42 Billion | +1.73% |
| 2022-03-31 | ₹66.27 Billion | +21.66% |
| 2021-03-31 | ₹54.47 Billion | +3.71% |
| 2020-03-31 | ₹52.52 Billion | -2.85% |
| 2019-03-31 | ₹54.06 Billion | +15.48% |
| 2018-03-31 | ₹46.81 Billion | +13.44% |
| 2017-03-31 | ₹41.26 Billion | +21.05% |
| 2016-03-31 | ₹34.09 Billion | -1.02% |
| 2015-03-31 | ₹34.44 Billion | +27.55% |
| 2014-03-31 | ₹27.00 Billion | +11.55% |
| 2013-03-31 | ₹24.21 Billion | +1.72% |
| 2012-03-31 | ₹23.80 Billion | +12.93% |
| 2011-03-31 | ₹21.07 Billion | +36.72% |
| 2010-03-31 | ₹15.41 Billion | -11.36% |
| 2009-03-31 | ₹17.39 Billion | +0.84% |
| 2008-03-31 | ₹17.24 Billion | +13.34% |
| 2007-03-31 | ₹15.21 Billion | +20.22% |
| 2006-03-31 | ₹12.65 Billion | +147.91% |
| 2005-03-31 | ₹5.10 Billion | -- |
Equity Component Analysis
This analysis shows how different components contribute to Bharat Forge Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 6181148000000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₹61.81 Billion | 66.80% |
| Common Stock | ₹956.27 Million | 1.03% |
| Other Components | ₹29.77 Billion | 32.17% |
| Total Equity | ₹92.53 Billion | 100.00% |
Bharat Forge Limited Competitors by Market Cap
The table below lists competitors of Bharat Forge Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
MYTILINEOS SA NAM.EO 097
F:MYH
|
$5.17 Billion |
|
PIRAEUS FIN.HOL. EO 093
F:BKP
|
$5.17 Billion |
|
PNM Resources Inc
F:98P
|
$5.17 Billion |
|
Torrent Pharmaceuticals Limited
NSE:TORNTPHARM
|
$5.17 Billion |
|
Groep Brussel Lambert NV
PINK:GBLBF
|
$5.17 Billion |
|
Localiza Rent A Car SA
OTCQX:LZRFY
|
$5.17 Billion |
|
Hundsun Technologies Inc
SHG:600570
|
$5.16 Billion |
|
Technology One Limited
PINK:THNOF
|
$5.16 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Bharat Forge Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 71,701,840,000 to 92,533,340,000, a change of 20,831,500,000 (29.1%).
- Net income of 9,411,530,000 contributed positively to equity growth.
- Dividend payments of 4,220,930,000 reduced retained earnings.
- Share repurchases of 16,500,000,000 reduced equity.
- New share issuances of 16,500,000,000 increased equity.
- Other comprehensive income decreased equity by 70,770,570,000.
- Other factors increased equity by 86,411,470,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₹9.41 Billion | +10.17% |
| Dividends Paid | ₹4.22 Billion | -4.56% |
| Share Repurchases | ₹16.50 Billion | -17.83% |
| Share Issuances | ₹16.50 Billion | +17.83% |
| Other Comprehensive Income | ₹-70.77 Billion | -76.48% |
| Other Changes | ₹86.41 Billion | +93.38% |
| Total Change | ₹- | 29.05% |
Book Value vs Market Value Analysis
This analysis compares Bharat Forge Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 8.86x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 132.87x to 8.86x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2005-03-31 | ₹13.14 | ₹1746.00 | x |
| 2006-03-31 | ₹28.45 | ₹1746.00 | x |
| 2007-03-31 | ₹33.46 | ₹1746.00 | x |
| 2008-03-31 | ₹37.12 | ₹1746.00 | x |
| 2009-03-31 | ₹36.91 | ₹1746.00 | x |
| 2010-03-31 | ₹32.85 | ₹1746.00 | x |
| 2011-03-31 | ₹41.20 | ₹1746.00 | x |
| 2012-03-31 | ₹46.85 | ₹1746.00 | x |
| 2013-03-31 | ₹48.46 | ₹1746.00 | x |
| 2014-03-31 | ₹57.63 | ₹1746.00 | x |
| 2015-03-31 | ₹73.97 | ₹1746.00 | x |
| 2016-03-31 | ₹73.31 | ₹1746.00 | x |
| 2017-03-31 | ₹88.41 | ₹1746.00 | x |
| 2018-03-31 | ₹99.91 | ₹1746.00 | x |
| 2019-03-31 | ₹115.47 | ₹1746.00 | x |
| 2020-03-31 | ₹112.11 | ₹1746.00 | x |
| 2021-03-31 | ₹116.31 | ₹1746.00 | x |
| 2022-03-31 | ₹141.13 | ₹1746.00 | x |
| 2023-03-31 | ₹144.02 | ₹1746.00 | x |
| 2024-03-31 | ₹154.00 | ₹1746.00 | x |
| 2025-03-31 | ₹197.11 | ₹1746.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Bharat Forge Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 10.17%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 6.22%
- • Asset Turnover: 0.75x
- • Equity Multiplier: 2.17x
- Recent ROE (10.17%) is below the historical average (15.08%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2005 | 39.39% | 10.44% | 0.96x | 3.92x | ₹1.50 Billion |
| 2006 | 19.80% | 8.49% | 0.77x | 3.03x | ₹1.24 Billion |
| 2007 | 19.03% | 6.88% | 0.84x | 3.31x | ₹1.34 Billion |
| 2008 | 17.59% | 6.38% | 0.88x | 3.12x | ₹1.26 Billion |
| 2009 | 3.55% | 1.25% | 0.87x | 3.25x | ₹-1.06 Billion |
| 2010 | -5.24% | -2.35% | 0.61x | 3.68x | ₹-2.23 Billion |
| 2011 | 14.86% | 5.84% | 0.83x | 3.07x | ₹948.70 Million |
| 2012 | 18.91% | 6.72% | 0.84x | 3.36x | ₹1.95 Billion |
| 2013 | 13.50% | 5.90% | 0.68x | 3.37x | ₹790.24 Million |
| 2014 | 28.42% | 10.00% | 1.01x | 2.81x | ₹4.94 Billion |
| 2015 | 22.14% | 10.00% | 0.93x | 2.39x | ₹4.18 Billion |
| 2016 | 19.88% | 9.96% | 0.82x | 2.43x | ₹3.37 Billion |
| 2017 | 17.12% | 11.02% | 0.72x | 2.16x | ₹2.93 Billion |
| 2018 | 16.39% | 9.12% | 0.83x | 2.15x | ₹2.97 Billion |
| 2019 | 19.20% | 10.17% | 0.87x | 2.17x | ₹4.95 Billion |
| 2020 | 6.70% | 4.34% | 0.70x | 2.22x | ₹-1.72 Billion |
| 2021 | -2.33% | -1.99% | 0.48x | 2.43x | ₹-6.68 Billion |
| 2022 | 16.46% | 10.34% | 0.67x | 2.38x | ₹4.25 Billion |
| 2023 | 7.88% | 4.09% | 0.70x | 2.74x | ₹-1.42 Billion |
| 2024 | 13.27% | 6.07% | 0.81x | 2.70x | ₹2.34 Billion |
| 2025 | 10.17% | 6.22% | 0.75x | 2.17x | ₹158.20 Million |
Industry Comparison
This section compares Bharat Forge Limited's net assets metrics with peer companies in the Auto Parts industry.
Industry Context
- Industry: Auto Parts
- Average net assets among peers: $11,806,609,139
- Average return on equity (ROE) among peers: 17.55%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Bharat Forge Limited (BHARATFORG) | ₹93.28 Billion | 39.39% | 1.22x | $5.17 Billion |
| Apollo Tyres Limited (APOLLOTYRE) | $34.01 Billion | 18.01% | 1.52x | $1.47 Billion |
| Asahi India Glass Limited (ASAHIINDIA) | $26.42 Billion | 14.05% | 1.57x | $816.27 Million |
| Automotive Stampings and Assemblies Limited (ASAL) | $562.65 Million | 17.77% | 2.25x | $18.73 Million |
| ASK AUTOMOTIVE LIMITED (ASKAUTOLTD) | $10.43 Billion | 23.74% | 0.84x | $221.89 Million |
| Automotive Axles Limited (AUTOAXLES) | $3.02 Billion | 6.60% | 0.72x | $86.08 Million |
| Autoline Industries Limited (AUTOIND) | $1.39 Billion | 7.99% | 2.15x | $11.92 Million |
| Balkrishna Industries Limited (BALKRISIND) | $8.61 Billion | 22.59% | 1.53x | $1.99 Billion |
| Banco Products (I) Limited (BANCOINDIA) | $1.36 Billion | 31.89% | 0.52x | $286.08 Million |
| BELRISE INDUSTRIES LTD (BELRISE) | $20.45 Billion | 15.34% | 1.78x | $541.77 Million |