Bharat Forge dips 7% on weak performance of overseas subsidiaries in Q3

The company's overseas operations posted an EBITDA loss of Rs 62 crore in December quarter due to ramp up related issues of the new Al forgings capacities in Germany and the US

Shares of Bharat Forge dipped 7 per cent to Rs 811.80 on the BSE in Wednesday’s intra-day trade as the company’s overseas operations posted an EBITDA (earnings before interest, taxes, depreciation, and amortization) loss of Rs 62 crore in the December quarter (Q3FY23) due to ramp up related issues of the new Al forgings capacities in Germany and the US. Overseas subsidiaries had posted an EBITDA loss of Rs 34.1 crore in September quarter (Q2FY23).

The management, however, expects these new capacities to turn around in FY24 and enjoy high-teen margins at 75-80 per cent utilization. “Overseas operations continue