Bharat Forge Ltd. benchmarking: Performance to industry peers

Financial

	Bharat Forge	Endurance Tech.	TVS Holdings
Operational Metrics
Engineering & Capital Goods
Annualized Order Inflows	6304.0 Crs	n/a	n/a
Metals
Manufacturing Capacity - Forging	693750.0 MTPA	n/a	n/a
Unclassified
R&D as a % of Total Sales	0.65 %	0.97 %	0.0
Financials
5 yr Average ROE	9.56 %	13.1 %	18.58 %
5yr average Equity Multiplier	2.47	1.55	10.6
5yr Average Asset Turnover Ratio	0.69	1.27	0.86
5yr Avg Net Profit Margin	4.95 %	6.67 %	1.97 %
Price to Book	10.7	5.55	4.23
P/E	94.99	39.87	16.14
5yr Avg Cash Conversion Cycle	26.07 Days	-28.28 Days	-55.92 Days
Inventory Days	83.24 Days	30.75 Days	26.65 Days
Days Receivable	72.43 Days	42.18 Days	14.62 Days
Days Payable	126.07 Days	101.1 Days	97.31 Days
5yr Average Interest Coverage Ratio	4.51	43.85	2.3
5yr Avg ROCE	14.11 %	16.08 %	15.37 %
5yr Avg Operating Profit Margin	15.84 %	13.32 %	13.26 %
5 yr average Debt to Equity	0.9	0.14	6.27
5yr CAGR Net Profit	n/a	9.98 %	29.18 %
5yr Average Return on Assets	3.72 %	8.44 %	1.7 %
Shareholdings
Promoter Holding	44.07 %	75.0 %	74.45 %
Share Pledged by Promoters	0.0	0.0	16.94 %
Change in Promoter Holding (3 Yrs)	-1.18 %	0.0	-0.01 %
Change in Mutual Fund Holding (3 Yrs)	1.16 %	-3.36 %	-3.41 %

Business

	Bharat Forge	Endurance Tech.	TVS Holdings
Segment Break-Up	Segment Break-Up Steel Forgings 76.04 Defence 8.68 Front Axles assembly and components 0 Finished Machined Crankshafts 0 Financial Services 0 Automotive components 0 Automotive vehicles and parts 0 Others 15.28	-	Segment Break-Up Defence 0 Auto Ancillary 84.33 Automotive components 0 Front Axles assembly and components 0 Financial Services 15.67 Finished Machined Crankshafts 0 Steel Forgings 0
Location Wise Break-Up	Location Wise Break-Up India 49.51 USA 31.59 Europe 15.07 Asia Pacific 3.84 Latin America 0 Africa 0 Rest of Asia 0 Rest of the World 0	Location Wise Break-Up Asia Pacific 0 Europe 27.3 India 71.6 Africa 0 Rest of the World 0 Latin America 0 USA 0 Rest of Asia 0 Others 1.1	Location Wise Break-Up Asia Pacific 0 Europe 0 India 79.82 Africa 0 Rest of the World 20.18 Latin America 0 USA 0 Rest of Asia 0
Operating Profit Break-Up	Operating Profit Break-Up Forgings 86.41 Defence 3.44 Financial Services 0 Motor vehicles 0 Automotive components 0 Others 10.15	-	Operating Profit Break-Up Defence 0 Automotive components 0 2 Wheelers 70.57 Forgings 0 Financial Services 29.43
Customer Segment	Customer Segment Industrial & Commercial 50.63 Commercial Vehicles 30.32 4 Wheeler 19.04 4-Wheelers 0 3-Wheelers & Others 0 2-Wheelers 0 Car Industry 0 Two -Wheeler Industry 0 0 Others 0.01	Customer Segment Car Industry 0 0 Two -Wheeler Industry 0 3 Wheeler 8.0 4 Wheeler 29.0 2 Wheeler 60.7 Industrial & Commercial 0 4 Wheeler 0 Commercial Vehicles 0 Others 2.3	Customer Segment 4 Wheeler 18.0 Medium & heavy commercial vehicles 61.0 2 Wheeler 21.0 3-Wheelers & Others 0 4-Wheelers 0 2-Wheelers 0 Industrial & Commercial 0 4 Wheeler 0 Commercial Vehicles 0
Asset Break-Up - Segment Wise	Asset Break-Up - Segment Wise Others 100	-	-
Asset Break-Up	Asset Break-Up India 60.48 Financial Services 0 Automotive vehicle and parts 0 Automotive Components 0 Others 39.52	-	Asset Break-Up India 0 Financial Services 67.55 Automotive vehicle and parts 32.45 Automotive Components 0

Bharat Forge Ltd.

Bharat Forge Ltd.

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