Bharat Forge-Meritor JV making axles, brakes and suspension systems for commercial vehicles in India
Price
Market Cap
Sector
Consumer Discretionary
Rank
| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 |
| Reserves | 517 | 539 | 606 | 744 | 861 | 967 | 991 | 1.1k |
| Borrowings | 35 | 29 | 23 | 28 | 22 | 16 | 15 | 14 |
| Other Liabilities | 161 | 364 | 401 | 369 | 332 | 360 | 307 | 407 |
| Total Liabilities | 728 | 947 | 1.0k | 1.2k | 1.2k | 1.4k | 1.3k | 1.5k |
| AssetsFixed Assets | 255 | 245 | 259 | 245 | 227 | 200 | 186 | 225 |
| CWIP | 24 | 32 | 3 | 6 | 6 | 7 | 17 | 14 |
| Investments | 0 | 12 | 17 | 0 | 21 | 77 | 164 | 140 |
| Other Assets | 449 | 658 | 766 | 905 | 976 | 1.1k | 961 | 1.1k |
| Total Assets | 728 | 947 | 1.0k | 1.2k | 1.2k | 1.4k | 1.3k | 1.5k |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | 106 | 198 | 49 | 43 | 52 | 260 | 128 | 173 |
| Cash from Investing | -157 | -59 | -40 | -27 | -84 | -182 | -94 | -94 |
| Cash from Financing | 47 | -105 | -10 | -15 | -31 | -56 | -59 | -49 |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | -46 | 136 | 14 | 21 | 36 | 241 | 115 | 101 |
| FCF Margin | — | — | — | — | — | — | — | — |
The Earnings Per Share over the last 12 months.
Your assumption of the company's expected yearly EPS growth (e.g., 6 for 6%).
Pre-filled with the lower of median (18.1×) and current (16.5×) PE — the conservative anchor.
The annualized return you aim to achieve. We solve for the price that delivers it, then compare to today's price.
At 0.6% growth and a 16× exit, ₹1793 only delivers your return if you pay ₹738. The price is currently baking in 18% growth.
EPS grows 0.6%/yr for 5 years, then fades to 6% over 2, exits at 16×.
| Year | Growth | EPS (₹) |
|---|---|---|
| FY27 | 0.6% | 109.42 |
| FY28 | 0.6% | 110.08 |
| FY29 | 0.6% | 110.74 |
| FY30 | 0.6% | 111.40 |
| FY31 | 0.6% | 112.07 |
| FY32 | 3.3% ·fade | 115.77 |
| FY33 | 6.0% ·fade | 122.72 |
Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.
Guides on how to read this kind of business and the numbers that matter.