Bharat Forge: Market share gains, new products helped to outperform in Q3

Market share gains, new products helped to outperform in Q3

The Bharat Forge stock was up nearly 8 per cent on a better-than-expected December quarter performance, a strong outlook for the March quarter and FY19, and investments in an electric vehicle start-up. 

Top line growth of 47 per cent over the year-ago period was led by 38 per cent growth in volumes, while the rest came from increasing share of value-added products.

Exports, which account for 56 per cent of revenue, grew 61 per cent. Domestic revenue, too, grew 33 per cent over the year-ago period. Given the top line performance, richer product mix and enhanced productivity, the company managed to improve