3 Forgings and Chassis Components, Instrument Clusters and Vehicle Aesthetic Parts Stocks With a Strong Future Roadmap: Bharat Forge, Pricol and SJS Enterprises
- October 23, 2026
- Posted by: Chaitanya Auti
- Category: Best Stocks
Bharat Forge, Pricol and SJS Enterprises: ROE of 11.3% to 20.0% and FY22 to FY26 revenue CAGR of 12.4% to 27.1%. Prices as of 22 Oct 2026.
Quick Answer
The three forging, cluster and aesthetic parts stocks to watch are Bharat Forge, Pricol and SJS Enterprises. Their return on equity ranges from 11.3% to 20.0%, and their revenue compound annual growth from FY22 to FY26 ranges from 12.4% to 27.1%. Pricol leads on both return on equity at 20.0% and revenue growth at 27.1% a year. Prices are based on the 22 October 2026 close, and this article is educational, not investment advice.
Forging, cluster and aesthetic parts stocks let investors follow auto suppliers that add technology and design to every vehicle. Bharat Forge, Pricol and SJS Enterprises cover forgings and chassis components, instrument clusters and vehicle aesthetic parts.
This list covers three forging, cluster and aesthetic parts stocks with complete current figures: Bharat Forge, Pricol and SJS Enterprises. Every figure comes from the latest reported financials and the 22 October 2026 market close. Companies without complete current figures were left out.
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What Are Forging, Cluster and Aesthetic Parts Stocks?
Forging, cluster and aesthetic parts stocks are listed auto component companies that make forged parts, dashboards and decorative parts. Their earnings depend on vehicle production, content per vehicle and export orders.
Forging, Cluster and Aesthetic Parts Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| Bharat Forge | 1,741 | 87,540 | 122.4 | 50.7 | 11.3 | 0.76 |
| Pricol | 648.05 | 8,072 | 30.1 | 36.9 | 20.0 | 0.30 |
| SJS Enterprises | 1,894.3 | 6,459 | 30.5 | 36.9 | 19.7 | 0.03 |
On valuation, Pricol and SJS Enterprises trade at a P/E below the industry P/E, while Bharat Forge trades above it, which reflects the growth the market already expects. Readers comparing forging, cluster and aesthetic parts stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Forging, Cluster and Aesthetic Parts Stocks Have a Strong Roadmap in India?
Forging, cluster and aesthetic parts stocks have a strong roadmap in India because vehicle makers are adding more features and premium parts, and global buyers are sourcing from Indian suppliers.
- Premium content. Digital clusters and design parts raise value per vehicle.
- Export programmes. Global makers source forgings and components from India.
- Diversified end uses. Industrial and defence work widens demand.
Why Bharat Forge Features Among These Forging, Cluster and Aesthetic Parts Stocks
Among the forging, cluster and aesthetic parts stocks on this list, Bharat Forge is a Pune-based maker of forgings, axles and chassis components for automotive and industrial customers, and it has a growing defence and aerospace business that includes artillery systems and components.
Revenue rose from Rs 10,657 crore in FY22 to Rs 17,010 crore in FY26, a compound annual growth rate of 12.4%. Net profit grew from Rs 508 crore in FY23 to Rs 1,089 crore in FY26, which works out to a compound annual growth rate of 28.9%.
In the June 2026 quarter, revenue grew 18.7% year on year to Rs 4,697 crore. The company has a return on equity of 11.3%, a debt to equity ratio of 0.76 and a market capitalisation of Rs 87,540 crore. The stock trades at a P/E of 122.4, above the industry P/E of 50.7.
Roadmap: The company is widening its mix beyond automotive into defence, aerospace and industrial products, where programmes run for many years. Its forging expertise and global customer base support a range of applications.
What to watch: Check order inflow in defence and aerospace and the share of non-automotive sales.
Why Pricol Features Among These Forging, Cluster and Aesthetic Parts Stocks
Among the auto parts specialist shares on this list, Pricol, based in Coimbatore, makes instrument clusters, driver information systems, sensors and pumps for two-wheelers, commercial vehicles and off-highway vehicles.
In the June 2026 quarter, revenue grew 23.4% year on year to Rs 1,108 crore, while net profit rose 34.3% to Rs 67.0 crore. Revenue rose from Rs 1,554 crore in FY22 to Rs 4,052 crore in FY26, a compound annual growth rate of 27.1%.
Net profit grew from Rs 51.1 crore in FY22 to Rs 251 crore in FY26, which works out to a compound annual growth rate of 48.8%. The company has a return on equity of 20.0%, a debt to equity ratio of 0.30 and a market capitalisation of Rs 8,072 crore. The stock trades at a P/E of 30.1, below the industry P/E of 36.9.
Roadmap: Digital clusters and connected vehicle systems carry higher value per vehicle than the analogue gauges they replace. Pricol is also expanding into electric vehicle components and exports, and widening its non-auto business to reduce cyclicality.
What to watch: Track the shift to digital clusters and the progress of new product ramp-ups.
Why SJS Enterprises Features Among These Forging, Cluster and Aesthetic Parts Stocks
Among the three companies on this list, SJS Enterprises makes decorative aesthetic parts such as lenses, badges, decals and appliqués for vehicles, along with products for consumer durables.
The company has a return on equity of 19.7%, a debt to equity ratio of 0.03 and a market capitalisation of Rs 6,459 crore. The stock trades at a P/E of 30.5, below the industry P/E of 36.9.
Revenue rose from Rs 374 crore in FY22 to Rs 973 crore in FY26, a compound annual growth rate of 27.0%. Net profit grew from Rs 55.0 crore in FY22 to Rs 172 crore in FY26, which works out to a compound annual growth rate of 32.9%. In the June 2026 quarter, revenue grew 25.3% year on year to Rs 266 crore, while net profit rose 115.0% to Rs 74.4 crore.
Roadmap: Premium finishes, electric vehicle styling and a rising number of parts per vehicle widen its addressable market. The company has also acquired overseas and domestic businesses, which deepen its product range and customer mix.
What to watch: Follow how newly acquired units are integrated and how premium finishes contribute to the mix.
Bharat Forge vs Pricol vs SJS Enterprises on Key Financials
The table below sets the three forging, cluster and aesthetic parts stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| Bharat Forge | 10,657 | 17,010 | 12.4% | 1,089 | 6.4% |
| Pricol | 1,554 | 4,052 | 27.1% | 251 | 6.2% |
| SJS Enterprises | 374 | 973 | 27.0% | 172 | 17.7% |
Pricol posts the highest return on equity in this group at 20.0%. Bharat Forge has the largest FY26 revenue at Rs 17,010 crore, and Pricol shows the fastest revenue growth with a 27.1% compound annual rate. A useful habit with forging, cluster and aesthetic parts stocks is to check each new quarterly result against the capacity plans the company described earlier.
The June 2026 quarter, the latest reported, gives a fresh read on momentum:
| Company | Q1 FY26 Revenue (Rs Cr) | Q1 FY27 Revenue (Rs Cr) | Year-on-Year Growth |
|---|---|---|---|
| Bharat Forge | 3,958 | 4,697 | 18.7% |
| Pricol | 898 | 1,108 | 23.4% |
| SJS Enterprises | 212 | 266 | 25.3% |
Key Risks to Check Before Investing in Forging, Cluster and Aesthetic Parts Stocks
Every theme carries risks that deserve a check before any decision. For these forging, cluster and aesthetic parts stocks, the main points are: Long-term auto parts specialist shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.
- Auto cycle. Vehicle demand can slow with interest rates or fuel prices.
- Commodity costs. Steel and aluminium prices influence margins.
- Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter forging, cluster and aesthetic parts stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Forging, Cluster and Aesthetic Parts Stocks
Forging, cluster and aesthetic parts stocks reward investors who follow vehicle demand, content per vehicle and exports together. Bharat Forge, Pricol and SJS Enterprises each have clear room to grow. Based on the 22 October 2026 close, Bharat Forge trades at Rs 1,741, Pricol at Rs 648.05 and SJS Enterprises at Rs 1,894.3. Valuation matters as much as growth, so compare each company’s P/E with its industry P/E before adding any of these forging, cluster and aesthetic parts stocks to a watchlist.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
What are forging, cluster and aesthetic parts stocks?
Ans. Forging, cluster and aesthetic parts stocks are listed auto component companies that make forged parts, dashboards and decorative parts. Their earnings depend on vehicle production, content per vehicle and export orders. This list looks at three of them, Bharat Forge, Pricol and SJS Enterprises, using reported FY22 to FY26 financials and the 22 October 2026 closing prices.
Which forging, cluster and aesthetic parts stocks are covered in this list?
Ans. This list covers Bharat Forge, Pricol and SJS Enterprises. Based on the 22 October 2026 close, Bharat Forge traded at Rs 1,741, Pricol at Rs 648.05 and SJS Enterprises at Rs 1,894.3. Their return on equity ranges from 11.3% to 20.0%, and their revenue compound annual growth from FY22 to FY26 ranges from 12.4% to 27.1%.
Why do forging, cluster and aesthetic parts stocks have a strong future roadmap in India?
Ans. Forging, cluster and aesthetic parts stocks have a strong roadmap in India because vehicle makers are adding more features and premium parts, and global buyers are sourcing from Indian suppliers. The main drivers are as follows. Premium content. Digital clusters and design parts raise value per vehicle. Export programmes. Global makers source forgings and components from India. Diversified end uses. Industrial and defence work widens demand. Together these factors give the companies on this list a visible path for growth over the coming years.
How has Bharat Forge performed financially?
Ans. Revenue rose from Rs 10,657 crore in FY22 to Rs 17,010 crore in FY26, a compound annual growth rate of 12.4%. Net profit grew from Rs 508 crore in FY23 to Rs 1,089 crore in FY26, which works out to a compound annual growth rate of 28.9%. In the June 2026 quarter, revenue grew 18.7% year on year to Rs 4,697 crore. The company has a return on equity of 11.3%, a debt to equity ratio of 0.76 and a market capitalisation of Rs 87,540 crore. The stock trades at a P/E of 122.4, above the industry P/E of 50.7. Looking ahead, the company is widening its mix beyond automotive into defence, aerospace and industrial products, where programmes run for many years. Its forging expertise and global customer base support a range of applications.
How has Pricol performed financially?
Ans. Revenue rose from Rs 1,554 crore in FY22 to Rs 4,052 crore in FY26, a compound annual growth rate of 27.1%. Net profit grew from Rs 51.1 crore in FY22 to Rs 251 crore in FY26, which works out to a compound annual growth rate of 48.8%. In the June 2026 quarter, revenue grew 23.4% year on year to Rs 1,108 crore, while net profit rose 34.3% to Rs 67.0 crore. The company has a return on equity of 20.0%, a debt to equity ratio of 0.30 and a market capitalisation of Rs 8,072 crore. The stock trades at a P/E of 30.1, below the industry P/E of 36.9. Looking ahead, digital clusters and connected vehicle systems carry higher value per vehicle than the analogue gauges they replace. Pricol is also expanding into electric vehicle components and exports, and widening its non-auto business to reduce cyclicality.
How has SJS Enterprises performed financially?
Ans. Revenue rose from Rs 374 crore in FY22 to Rs 973 crore in FY26, a compound annual growth rate of 27.0%. Net profit grew from Rs 55.0 crore in FY22 to Rs 172 crore in FY26, which works out to a compound annual growth rate of 32.9%. In the June 2026 quarter, revenue grew 25.3% year on year to Rs 266 crore, while net profit rose 115.0% to Rs 74.4 crore. The company has a return on equity of 19.7%, a debt to equity ratio of 0.03 and a market capitalisation of Rs 6,459 crore. The stock trades at a P/E of 30.5, below the industry P/E of 36.9. Looking ahead, premium finishes, electric vehicle styling and a rising number of parts per vehicle widen its addressable market. The company has also acquired overseas and domestic businesses, which deepen its product range and customer mix.
What risks should investors check before buying forging, cluster and aesthetic parts stocks?
Ans. Investors should check a few risks before buying forging, cluster and aesthetic parts stocks. Auto cycle. Vehicle demand can slow with interest rates or fuel prices. Commodity costs. Steel and aluminium prices influence margins. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of forging, cluster and aesthetic parts stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 22 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.