Bharat Forge

Bharat Forge posts 63 per cent rise in Q4 profit

Pune based company, Bharat Forge posted 63.87% rise in net profit in Q4 FY11 and taken the profit figure to Rs 100.39 crore. The increase in net profit is subject to strong growth in Europe and US markets.

On Bombay Stock Exchange, shares of Bharat Forge were trading at 2.66 percent up at Rs 312.50 at 10:15 am.

Past Four Quarters See a Streak of Improvement in Bharat Forge’s Performance

Past Four Quarters See a Streak of Improvement in Bharat Forge’s Performance

Bharat Forge Ltd’s performance has become better at a progressive level in the preceding four quarters. In the initial three quarters of economic 2010, individual proceeds increased by 19% consecutively.

In the March quarter, it sequentially boosted by 10.7% and 92% on a year-on-year basis to Rs. 562.4 Crore.

Bharat Forge receives approval, to raise Rs. 300 crore

Bharat Forge Limited, the world's second-biggest forgings maker, at its Board Meeting held today approved a Preferential Issue of Convertible Warrants subject to requisite approval by the Shareholders and the applicable guidelines to the Promoters Group.

The company will raise Rs 300 crore through the issue of these convertible warrants.

The proceeds will form a part of the corpus that will serve a two-fold purpose of funding the company’s ongoing organic growth programme in the capital goods and non auto space as well as enhancing the Promoters stake in the Company.

Bharat Forge Forms JVC with NTPC

Casting and Forging major, Bharat Forge Ltd has announced that the Company has signed an MOU with NTPC Ltd, to set up a Joint Venture Company for its foray into the Capital Goods sector.

Bharat Forge is the world's second largest forging company. The company is based in Pune, and has 9 manufacturing plants in India, Germany, Sweden, United States, Scotland, United Kingdom and mainland China. The company's international operations are carried out by its subsidiary Carl Dan Peddinghus GmbH

NTPC, Bharat Forge join hands; Form JV with equity ratio of 49:51

India’s State Run power producer, NTPC Ltd has signed a memorandum of understanding (MoU) with auto components major Bharat Forge to promote a Joint Venture Company, with an equity participation of 49:51 by NTPC and BFL respectively.

The MoU was signed between Baba Kalyani, Chairman and Managing Director of Bharat Forge, and Mr. Sankaralingam from NTPC.