Bharat Forge rises on inking pact with Ministry of Defence

Bharat Forge added 1.16% to Rs 1,195.95 after the company inked the largest domestic contract with Ministry of Defence for the supply of 184 indigenously developed Artillery System (ATAGS).

The contract, which accounts for 60% of the Rs 6,900 crore procurement by the Ministry of Defence, involves the supply of the Advanced Towed Artillery Gun System (ATAGS). Jointly developed with the Defence Research and Development Organisation (DRDO), the ATAGS is one of the most advanced 155/52 mm caliber artillery systems.

Bharat Forge (BFL) is the flagship company of the Kalyani Group, providing engineering solutions for diverse automotive and industrial applications. It is one of Indias largest forging companies, with forging-based engine and chassis components with a focus on crankshafts and front-axle beams, the largest exporter of auto components, and amongst the leading manufacturers of industrial components. It has a diversified global customer base, including the top five CV and PV manufacturers in the world.

The company has reported an 8.4% fall in standalone net profit to Rs 346 crore on a 7.4% decline in total revenue to Rs 2,096 crore in Q3 FY25 as compared with Q3 FY24.

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