Bharat Forge, through its wholly owned subsidiary, Kalyani Powertrain inaugurated its first E-bike manufacturing facility at MIDC, Chakan.
The facility has a production capacity of 60,000 units per annum and scalable to 1 lakh units per annum, will undertake assembly of E-bikes for Tork Motors, where 64.29% owned by Kalyani Powertrain.
Bharat Forge (BFL) manufactures an extensive array of critical and safety components for several sectors including automobiles (across commercial & passenger vehicle), oil & gas, aerospace, locomotives, marine, energy (across renewable and non-renewable sources), construction, mining and general engineering.
The company reported 14.3% drop in standalone net profit to Rs 289.2 crore in Q3 FY23 from Rs 337.4 crore in Q3 FY22. Total revenue rose by 21.8% YoY to Rs 1,952.1 crore during the quarter.
Shares of Bharat Forge rose 0.38% to Rs 837 on the BSE.
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