Bharat Forge Reports 17% Net Profit Decline; New Production Initiatives Announced
Bharat Forge's net profit fell 17% due to a Rs 450 crore impairment in its electric mobility investments. The company is set to produce 155 mm Advanced Towed Artillery Guns and carbines for the Indian Army, with a significant contract value totaling Rs 5,801.9 crore.
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Bharat Forge Limited (BFL) reported a 17% decline in net profit, attributed to a Rs 450 crore impairment in its electric mobility division. The company plans to initiate production of 155 mm Advanced Towed Artillery Guns (ATAGs) and small arms in FY27, backed by a Rs 4,140 crore contract for 184 ATAGs and Rs 1,661.9 crore for 255,128 carbines.
New orders worth Rs 4,814 crore were secured, with Rs 2,816 crore in defence contracts, contributing to a defence order book of Rs 10,961 crore. A new explosives manufacturing facility will commence construction in Andhra Pradesh, expected to take 24 months. BFL anticipates a 50% growth in its defence business and a 25% growth in Indian operations in FY27, driven by various sectors including aerospace and defence.
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