Bharat Forge said that its wholly owned subsidiary, Kalyani Strategic System (KSSL) has incorporated a company, namely, Agneyastra Energetics to create end-to-end defence energetics capability.
Agneyastra Energetics has been incorporated to undertake the manufacturing of high energy explosives, ammunition high explosive filling (heavy & medium caliber), manufacturing of gun propellants and rocket propellants, with the objective of creating end-to-end defence energetics capability.Kalyani Strategic System has subscribed to 1 lakh equity shares of Rs 10 each in a newly incorporated company. KSSL holds 100% shareholding (99.94% directly and 0.06% through nominees). Consequently, Agneyastra Energetics becomes a step-down subsidiary of the company.
Bharat Forge (BFL), a Pune-based Indian multinational, is a technology driven global leader in providing high performance, innovative safety critical components and solutions for several sectors including automotive, power, oil and gas, construction & mining, rail, marine, defense and aerospace.
The companys consolidated net profit jumped 19.5% to Rs 282 crore despite a 7.5% decline in net sales to Rs 3,852.60 crore in Q4 FY25 over Q4 FY24.
The scrip declined 1.07% to settle at Rs 1,298.55 on the BSE.
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