Bharat Forge makes forged and machined auto and defence components, including crankshafts, connecting rods and axle beams for heavy vehicles, plus artillery and missile parts for India's defence programmes. Its moat is manufacturing scale and forging know-how, which lets it supply global OEMs and export defence hardware where qualification takes years to replicate. The near-term growth story rests on defence orders and a rebound in domestic commercial vehicles, with revenue growing 18.7% over the last year. At 117.9 times trailing earnings but 36.3 times forward, the market is pricing in a sharp step-up in profit, with the operating margin at 9.6% against a 53.3% gross margin, so the thesis depends on operating leverage converting that revenue growth into earnings. This is worth a deeper look to test whether the forward earnings estimates hold up.
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| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 23 Oct 2026, 01:53 CEST | ACCE price target | ₹1583 | first publication | ₹1741 |
Answered from Bharat Forge Limited fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| BHARATFORG.NS Bharat Forge Limited | ₹1711.20 | - | - | 115.9x | - | 67 | 56 |
| CMC Commercial Metals Company Common Stock | $63.79 | - | - | 11.0x | 14.8% | 60 | 71 |
| MLI Mueller Industries Inc. Common Stock | $54.53 | $44 | 25% above | 14.7x | 26.3% | 85 | 68 |
| NDA.DE Aurubis AG | €131.50 | €109 | 21% above | 5.4x | 18.3% | 58 | 70 |
| CRS Carpenter Technology Corporation Common Stock | $292.26 | $90 | 225% above | 25.1x | 25.8% | 81 | 55 |
| ESAB ESAB Corporation Common Stock | $66.89 | $78 | 14% below | 20.9x | 8.7% | 56 | 46 |
| ATI ATI Inc. Common Stock | $161.84 | - | - | 53.1x | 25.4% | 69 | 60 |
Where BHARATFORG.NS ranks against its sector peers on each metric.