Bharat Forge's Next Growth Engine: Defence, Aerospace, Semiconductors & Data Centres | ET Now
ET Now · 05 Nov 2026 · 7 min
Management interview of Bharat Forge Ltd (BHARATFORG), with 8 key numbers discussed.
- Baba Kalyani, CMD, Bharat Forge
Bharat Forge CMD Baba Kalyani expects margins to recover toward 18% over the next two to three quarters as energy cost pass-throughs from customers flow through. The company has a Rs 10,000-11,000 cr defence order book and will begin production of ATAGS artillery guns in 3-4 months. It is investing roughly Rs 2,000 cr to add 100,000 tonnes of capacity in Baramati across forgings, machining, and aerospace. This capex is expected to operationalise in FY28 and generate around Rs 3,000 cr in additional high-margin revenue.