Bharat Forge Limited

7.5%

American truck production and the resulting inventory destocking. Standalone Revenues declined by 7.5% sequentially to Rs 1,947 crores, impacted by 16% drop in revenues to North America. CV exports to N

Rs 1,947 crore

tion and the resulting inventory destocking. Standalone Revenues declined by 7.5% sequentially to Rs 1,947 crores, impacted by 16% drop in revenues to North America. CV exports to North America declined by 48%

16%

ory destocking. Standalone Revenues declined by 7.5% sequentially to Rs 1,947 crores, impacted by 16% drop in revenues to North America. CV exports to North America declined by 48% sequentially and 6

48%

rores, impacted by 16% drop in revenues to North America. CV exports to North America declined by 48% sequentially and 63% on a YoY basis. Because of the constant endeavor towards de-risking the busine

63%

% drop in revenues to North America. CV exports to North America declined by 48% sequentially and 63% on a YoY basis. Because of the constant endeavor towards de-risking the business, the impact was mi

Rs 545 Crore

onstant endeavor towards de-risking the business, the impact was minimized with EBITDA coming in at Rs 545 Crores (EBITDA margins of 28%) and PBT of Rs 432 crores. Consolidated revenue & EBITDA in Q2 came in at

28%

the business, the impact was minimized with EBITDA coming in at Rs 545 Crores (EBITDA margins of 28%) and PBT of Rs 432 crores. Consolidated revenue & EBITDA in Q2 came in at Rs 4,032 Crore and Rs 7

Rs 432 crore

he impact was minimized with EBITDA coming in at Rs 545 Crores (EBITDA margins of 28%) and PBT of Rs 432 crores. Consolidated revenue & EBITDA in Q2 came in at Rs 4,032 Crore and Rs 715 crores respectively. T

Rs 4,032 Crore

(EBITDA margins of 28%) and PBT of Rs 432 crores. Consolidated revenue & EBITDA in Q2 came in at Rs 4,032 Crore and Rs 715 crores respectively. The balance sheet remains robust with Cash of Rs 2,309 crores and

Rs 715 crore

28%) and PBT of Rs 432 crores. Consolidated revenue & EBITDA in Q2 came in at Rs 4,032 Crore and Rs 715 crores respectively. The balance sheet remains robust with Cash of Rs 2,309 crores and ROCE (net) of 15

Rs 2,309 crore

in at Rs 4,032 Crore and Rs 715 crores respectively. The balance sheet remains robust with Cash of Rs 2,309 crores and ROCE (net) of 15.5%. Indian manufacturing, a key focus area and growth driver for the compan

15.5%

res respectively. The balance sheet remains robust with Cash of Rs 2,309 crores and ROCE (net) of 15.5%. Indian manufacturing, a key focus area and growth driver for the company registered revenues of Rs

“PHONE: + 91 20 6704 2476 6704 2451 6704 2544 (Secretarial) Fax 020 2682 2163 Email: secretarial@bharatforge.com WEBSITE: www.bharatforge.com Q2 FY26 ANALYST UPDATE Inspiring Innovation.”

“Automotive | Renewable Energy | Oil & Gas | Defence | Aerospace | Marine | Construction & Mining | Rail Management Commentary: Q2 FY26 Performance BFL 3 Month Report: “The quarterly performance was impacted by the sharp decline in the North American truck production and the resulting inventory destocking.”

“The company secured new orders worth Rs 1,582 Crores including Rs 559 crores in Defence in H1 FY26.”

“On the business front we expect to conclude more order wins for platforms/ projects we have participated in.”

“Review of the European steel manufacturing footprint is on track, and we expect to have concrete measures in place by the end of this fiscal.”

“Given the challenging demand conditions in North America, we are witnessing exports into that region declining further in H2 FY26.”

“However, we expect the industrial business across India, exports to non-US geographies and ramp up in defence business to more than offset the weakness in US exports.”

“Kalyani, Chairman & Managing Director Standalone Financial Highlights Q2 FY26 Rs million Revenue 19,469 21,047 22,467 Q2 FY26 Q1 FY26 Q2 FY25 EBITDA 5,446 5,878 6,477 Q2 FY26 Q1 FY26 Q2 FY25 PBT before Ex.”

“Gain/ Loss 4,316 4,653 5,107 Q2 FY26 Q1 FY26 Q2 FY25 Q2 FY26 Revenues at Rs 19,469 million were lower QoQ due to sharp drop in the North American CV demand.”

“before Exchange gain/ (loss) coming in at Rs 4,316 PBT million for Q2 FY26 down 7.2% QoQ driven by weaker sales.”

Sub.

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Sub.

Dear Sir / Madam, With reference to the subject, we are enclosing a copy of the Presentation on the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter and half year ended September 30, 2025. Kindly take the same on record. Thanking you, Yours faithfully, For Bharat Forge Limited Tejaswini Chaudhari Company Secretary and Compliance Officer Membership No.: A18907 Encl: As above CIN L25209PN1961PLC012046 BHARAT FORGE LIMITED, MUNDHWA, PUNE 411 036, MAHARASHTRA, INDIA. PHONE: + 91 20 6704 2476 6704 2451 6704 2544 (Secretarial) Fax 020 2682 2163 Email: secretarial@bharatforge.com WEBSITE: www.bharatforge.com Q2 FY26 ANALYST UPDATE Inspiring Innovation. Worldwide. Automotive | Renewable Energy | Oil & Gas | Defence | Aerospace | Marine | Construction & Mining | Rail Management Commentary: Q2 FY26 Performance BFL 3 Month Report: “The quarterly performance was impacted by the sharp decline in the North American truck production and the resulting inventory