Bharat Forge's Big Growth Plans | Defence Orders, Auto Recovery & India Expansion | Amit Kalyani
NDTV Profit · 05 Nov 2026 · 13 min
Management interview of Bharat Forge Ltd (BHARATFORG), with 6 key numbers discussed.
- Amit Kalyani, Vice Chairman & Joint Managing Director, Bharat Forge Ltd
Bharat Forge expects margins to improve quarter-on-quarter, aiming to reach 27% by FY27 end and 28% by FY28 as raw material price hikes are passed through. The company received bulk production clearance for ATAGS, with deliveries commencing in Q1 next year. It won Rs 2,000 cr of industrial business in H1 and anticipates defence order wins exceeding Rs 2,000 cr. A major capex of Rs 1,350 cr is ramping up, while cash reserves stand at Rs 4,000 cr following a Rs 2,000 cr fundraise. Domestic manufacturing is expected to contribute 80-85% of total revenue by FY29.