Buy Bharat Forge, target price Rs 495: Sagar Doshi

Sagar Doshi of Edelweiss Financial Services has buy call on Bharat Forge Ltd. with a target price of Rs 495.0 . The current market price of Bharat Forge Ltd. is Rs 464.35 Sagar Doshi recommended to keep stoploss at Rs 445
Bharat Forge Ltd., incorporated in the year 1961, is a Large Cap company (having a market cap of Rs 21491.57 Crore) operating in Auto Ancillaries sector.

Bharat Forge Ltd. key Products/Revenue Segments include Steel Forgings which contributed Rs 6050.28 Crore to Sales Value (92.79 % of Total Sales), Scrap which contributed Rs 252.92 Crore to Sales Value (3.87 % of Total Sales), Export Incentives which contributed Rs 167.38 Crore to Sales Value (2.56 % of Total Sales), Job Work which contributed Rs 31.38 Crore to Sales Value (0.48 % of Total Sales), Dies & Tools which contributed Rs 13.17 Crore to Sales Value (0.20 % of Total Sales) and Wind Mills which contributed Rs 4.87 Crore to Sales Value (0.07 % of Total Sales)for the year ending 31-Mar-2019.


For the quarter ended 30-06-2019, the company has reported a Consolidated sales of Rs 2327.86 Crore, down -12.84 % from last quarter Sales of Rs 2670.78 Crore and down -3.56 % from last year same quarter Sales of Rs 2413.70 Crore Company has reported net profit after tax of Rs 177.52 Crore in latest quarter. The company’s top management includes Mr.Amit B Kalyani, Mr.B N Kalyani, Mr.B P Kalyani, Mr.Dipak Mane, Mr.G K Agarwal, Mr.Kishore Saletore, Mr.Murali Sivaraman, Mr.P C Bhalerao, Mr.P H Ravikumar, Mr.Pratap G Pawar, Mr.S E Tandale, Mr.S M Thakore, Mr.Vimal Bhandari, Mrs.Lalita D Gupte. Company has SRBC & Co LLP as its auditoRs As on 30-09-2019, the company has a total of 465,588,632 shares outstanding.