Bharat Forge, for Q1FY16, posted a 35% (YoY) rise in net profit at Rs.195 crore on a 14% increase in revenue at Rs.1128 crore. The performance was led mainly by a 21% rise in exports. EBITDA margins expanded 240 bps at 31.8%. Shipment tonnage increased by 6%. In terms of geography, Asia Pacific showed the best growth at 44%, Americas grew 33% while Europe was down 5%. Domestic revenue rose 6%.

The company expects Q2 to be much better than Q1 as it expects demand in auto sector to grow though global challenges could temper in the numbers. On the other hand, its Industrial Business saw some tough times with revenue showing a 22% QoQ decline. The slump in the oil and gas sector, low utilization in mining and construction sector led to the fall and it expects the outlook to remain down for this sector in current Q2 too. The company’s debt currently stands at Rs.1877 crore and cash balance is at Rs.1159 crore.