Bharat Forge raises exports, small forging sales

15 January 2000

Exports and small forgings will play an increasingly important role in growth at Pune-based Bharat Forge Ltd.

Bharat Forge's exports surged 60 per cent in the 9-month period to December 1999 to Rs 84.30 crores from Rs 51.69 crore in the corresponding period of the previous year. "We will close the year with exports of around Rs 115 crore," says the company's chairman and managing director B N Kalyani, while announcing the company's quarterly results to the press. He expects exports to be Rs 160 crore next year.

Sales rose to Rs 441.00 crore in the quarter under review, from Rs 336.62 crore earlier, and net profit rose 90 per cent to Rs 53.64 crore form Rs 27.43 crore.

The company is making inroads in the small forgings sector too. "We have been trying to secure a substantial position in the small forgings business the last year and a half. We are now firmly entrenched," says Kalyani.

Orders have come both from domestic and overseas markets. Daimler-Chrysler of Germany will source camshafts from Bharat Forge for its A class Mercedes cars, and Caterpillar of the US has placed orders for engine components. Together, the orders are worth Rs 20 crore.

In the domestic market, Bharat Forge has positioned itself well, says Mr Kalyani, to cater to the new breed of passenger cars and new generation of 4-stroke two wheelers.