Bharat Forge, a leading manufacturer based in Pune, India, reported a 17.5% decline in consolidated net profit for the fourth quarter (Q4) of FY26, amounting to ₹232.5 crore. This drop is primarily due to exceptional charges linked to the implementation of new labour codes by the Government of India, which increased gratuity and leave liabilities. Despite this setback, the company saw a 17.5% increase in revenue from operations, reaching ₹4,528 crore.

For the full fiscal year, Bharat Forge's consolidated net profit rose by 14.7% to ₹1,079.6 crore, with total revenue increasing by 11% to ₹16,811.6 crore. The company’s shares rose 6.2%, closing at ₹1,991 on the Bombay Stock Exchange (BSE) following the announcement of these results.

Baba Kalyani, chairman and managing director, highlighted that the company's performance was bolstered by strong execution across various sectors and a rebound in export demand during the latter half of the year. Bharat Forge secured new orders worth ₹4,814 crore in FY26, including ₹2,816 crore in the defence sector, contributing to a defence order book totaling ₹10,961 crore.

The company also reported a ₹450 crore impairment on its investment in KPTL, indicating a reevaluation of its electric vehicle strategy amid slower global adoption. Looking ahead, Bharat Forge anticipates approximately 25% revenue growth in FY27, driven by improved EBITDA and profitability in its Indian operations, alongside a focus on diversified growth across several sectors.