 "Premier engineering concern Bharat Forge has broadened its revenue streams by entering new non-auto segments and markets, resulting in the share of the auto business dropping to 58 per cent in the financial year 2024 (FY24) from 80 per cent (FY07). I")
Bharat Forge on Wednesday said its subsidiary has inked a pact with AM General, USA to supply made-in-India advanced artillery cannons.
Kalyani Strategic Systems Ltd (KSSL) has signed a Letter of Intent (LOI) at IDEX 2025 in AbuDhabi, the company said in a regulatory filing.
This marks the first-ever supply of cannons from an Indian defence manufacturer to the US, a testament to the strengthening bilateral defence cooperation between our two nations, it added.
"It is a testament to our capabilities and a major advancement in our mission to be a world leading artillery solutions provider. This agreement underscores the trust and confidence that global defence leaders, such as AM General, place in our capabilities," Bharat Forge Chairman & Managing Director Baba Kalyani said.
AM General Executive Vice President John Chadbourne said the Letter of Intent with KSSL represents an important step in expanding the strategic partnership.
"Given KSSL's proven artillery capabilities and our shared commitment to technological innovation, we see tremendous potential in bringing advanced artillery solutions to the US defence forces," he added.
Bharat Forge shares on Wednesday ended flat at Rs 1,075.35 apiece on BSE.
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