BHARATFORGE / Q4-FY26 / claim-ledger

Audit the questions that mattered.

Bharat Forge · Analyst questions, management answers, and the quality of the response where the ledger is available.

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PositiveQ4-FY26 · 2026-04-??Back to quarter ↗

Questions audited

12

Answered directly

67%

Numeric claims

2

Consistency

contradicted

Question ledger

What was answered, and how?

Capel Singh · Namura

evasive

Breakdown of FY27 growth target by segment

I'm not going to break it up into that much detail let me just tell you we will see the highest growth coming from our aerospace business and then defense business and the automotive

Capel Singh · Namura

direct

Details on Fortuna acquisition revenue and potential

we have acquired 30% for 130 crores. The company has a revenue of about 360 380 crores and they have a net cash position of about 20 odd crores and they are on a growth path

Capel Singh · Namura

direct

Whether growth target includes inorganic opportunities

we don't currently have any other inorganic which is ongoing but as we have mentioned we will look at opportunities within India that makes sense for us

Bin Singh · Morgan Stanley

partial

Restructuring losses trajectory for Europe and US

the restructuring of CDP has started... we anticipate the losses will reduce because the CDP losses are not going to be there

Bin Singh · Morgan Stanley

direct

Aerospace revenue number for FY26

It was about 400 crores.

Bin Singh · Morgan Stanley

direct

Key milestones for defense revenue guidance

the A tags FAT will happen and then the A tags production will start and ramp up. The second is the CQB carbine also production will happen.

Gjan Prityani · Bank of America

evasive

Aerospace revenue run-rate and FY27 guidance

we will see a strong double-digit growth higher than the overall growth that we are anticipating as a company significantly higher

Arvin Sharma · City Bank

evasive

Breakdown of 25% growth target between standalone and subsidiaries

I'm not going to break it down into all that. It gives too much information. Let's just limit to say that it's going to be at a overall India level.

Arvin Sharma · City Bank

direct

Gestation period for new orders of 4,800 crores

if you look at the ATAX order that will start revenue in the next half of the year. Same with the carbines and some of the data center orders will also start slowly from the end towards the third quarter, fourth quarter

Nitin Aurora · Access Mutual Fund

direct

Timeline for explosives business capex and scale

we are planning to set up a facility in Andhra Pradesh and we are going to do the groundbreaking this month... should be ready in less than 15 months... roughly 24 months total.

Sonel Gupta · HSBC AMC

direct

Reason for external capital raise in JSA

we see a large opportunity in JSA but we wanted to make it an independent business and grow it because we see that that business could become multi,000 cr business per year

Nitin Jen · Fair Value Equity Advisory

partial

Aerospace business outlook and margins

margins are above the company average... we are on that trajectory and sooner than later we should cross that and then be on a very fast growth path