Bharat Forge Limited, headquartered at Pune, is a transnational company, engaged in manufacturing and supplying forged products in India and abroad. The company has achieved global recognition by manufacturing and supplying an effective and premium quality of forging components, for several high-security and heavy-industry sectors. The defence and aerospace along with railways and mining are included in it. The company is currently offering product development solutions and design engineering nationally as well as globally.
The company is currently possessing manufacturing facilities in India, France, Sweden, Germany and North America. The company has achieved a milestone of reaching the top-most position in manufacturing and exporting automotive components along with chassis components in India. Bharat Forge Limited was incepted in 1961.
About Company Information:
In the year of 1966, a big contract on carriage components was won by the company resulting in its export operation in the erstwhile USSR. An investment in state-of-art forging technology was carried by the company in 1990, one year back of its commencement of exporting engine and chassis components to the USA, UK and Japan.
In 2001, a press line of 16000 Metric Ton was commissioned by the firm. A year after, an investment of $80 million was carried in Heavy Duty Truck Crankshaft Machining facilities, Testing & Validation and Research & Development. Acquiring Germany’s Carl Dan Peddinghus GmbH & Co. KG (CDP), the company became the second-largest forging company of the planet in November 2003.
In 2005, Sweden based Imatra Kilsta AB, along with its complete subsidiary Scottish Stampings Ltd in Scotland, was acquired by Bharat Forge Beteiligungs GmbH, Germany, resulting as the renaming of the acquired firm and its subsidiary as Bharat Forge Kilsta AB (BF Kilsta) and Bharat Forge Scottish Stampings Ltd, respectively.
In 2006, the company invested a lump sum of $ 100 million, of setting up a forging and machining facilities for intervening non-auto components industry. Two years later an MoU was signed between the company and NTPC in 2008, a year before developing the ‘Joint Venture’, namely BF-NTPC Energy Systems Ltd, in a 51:49 ratio of equity interest between the company and NTPC Limited. Nation’s largest Commercial Open Forging Press was incorporated by the firm in August 2008. A joint venture and shareholding agreement took place between the firm and France’s AREVA NP, for the incorporation of a heavy forging and casting components manufacturing facility for serving the heavy industries, especially the nuclear power sectors.
In 2010-11 a vertical heat treatment facility was commissioned by the company, for manufacturing Generator Rotors and Turbine along with facilitating thermo-stability. Alstom Power JV and the company bagged a lump sum of Rs.2, 251 crores from NTPC, supplying three supercritical turbine islands, which were ordered by the NTPC to Alstom-Bharat, in 2013. An amalgamation was established between Bharat Forge and Safran for intervening nation’s civil and military aerospace.
A highly technocratic rail compliments manufacturing facility was inaugurated at the Bharat Forge Centre for Advanced Manufacturing in Baramati in 2015. A contract of around $219 million, for supplying two units of 800 MW ultra-supercritical Steam Turbine Generator Islands on EPC basis together with the corresponding civil work for Telangana Super Thermal Power Project Phase-1, was achieved by Alstom Bharat Forge Power Private Ltd.
An approval to acquire the remaining 40% stake in its subsidiary Analogic Controls India Limited was decided by the Board of Directors of Bharat Forge in August 2017 to convert it as the solely owned subsidiary of the company. ACIL is engaged in producing advanced electronic technologies, related to mainly the defence sector such as safety arming mechanism, launcher relay unit etc. with a turnover of Rs.7.34 crore in FY 2016-17.
Bharat forges launched an R&D unit at United Kingdom’s MIRA Technology Park for focusing and emphasizing on electric vehicles. An investment around Rs.30 crore for an eventual stake of 45% was carried out by the company in Tork Motorcycles. The company in the financial year of 2017-18 has enjoyed a revenue and net profit of Rs.8358 crores and Rs.762 crores respectively.
How Bharat Forge Ltd, is categorized as Engineering Sector and Engineering - Forging Industry:
The Indian Engineering sector has seen an extraordinary growth over the last few years inspired by increased investments in infrastructure and industrial production. The engineering sector is of decisive importance to India’s economy.
On its journey to becoming a global superpower, India has made meaningful strides towards the development of its engineering sector. The Government of India has designated the Engineering Export Promotion Council (EEPC) as the zenith body in charge of the promotion of engineering goods, products and services from India. The engineering sector in India draws immense interest from foreign players as it holds a comparative advantage in terms of production costs, technology and innovation.
Bharat Forge Ltd, is categorized as Engineering Sector and Engineering - Forging Industry. Forging industry remains a backbone of the manufacturing industry. The sectors which boost economic growth such as Power, Construction, Railways, Mining, General engineering, Automobile and Industrial machinery, and so on depends on the Forging industry. It is well known for its technical abilities. Indian forging industry has a capacity to forge a mixture of raw materials like Carbon steel, stainless steel, alloy steel, superalloy, aluminium, titanium and so forth, as per the requirements of the user industry.
Bharat Forge Ltd, Competitors and Sector Peers:
Amforge Industries Ltd. AMFIND
ASL Industries Ltd. ASLIND
Ganga Forging Ltd. GANFOR
Hilton Metal Forging Ltd. HILMET
Kalyani Forge Ltd. KALFOR
Mahindra CIE Automotive Ltd. MAHFOR
Metalyst Forgings Ltd. AHMFOR
Micro Forge (India) Ltd. MICFOR
Patheja Forgings & Auto Parts Manufacturers Ltd. PATFOR
Pradeep Metals Ltd. PRAMET
Rajkumar Forge Ltd. RAJFOR
Ramkrishna Forgings Ltd. RAMFOR
S S Forging & Engineering Ltd. SSFOR
Sanghvi Forging & Engineering Ltd. SANFOR
Shree Ganesh Forgings Ltd. SHREGA
Shree Metalloys Ltd. VALIND
Smiths & Founders (India) Ltd. SHITEC
Tirupati Forge Ltd. TIRFOR
Vipras Corporation Ltd. VIPCOR
Vybra Automet Ltd. VYBAUT