CHANGING WITH INDIA

India’s industrial sector has always been an ocean of opportunities, but lack of policy support and sluggish demand prevented the growth of the sector. Despite being a leading player in the Indian industrial sector, BFL had to look at foreign markets for growth, to satiate its ambitions.

However, we believe that the tide is turning, for good. Government focus on infrastructure investment coupled with policy measures such as Strategic Partnership, provision of Buy (Indian) in Defence Procurement Policy (DPP) 2016 and mandatory local sourcing will enable Indian companies with proven capabilities to be at the forefront of addressing the country’s demand requirements.

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BHARAT FORGE AT A GLANCE

Bharat Forge Limited (BFL), the Pune-based Indian multinational and the flagship company of the Kalyani Group, is a leading global ‘Full Service Supplier’ of forged and machined - Powertrain & Chassis components. The Company is India’s largest exporter of auto components. With manufacturing facilities spread across India, Germany, Sweden, France and USA, Bharat Forge manufactures a wide range of high performance, highly engineered critical and safety components for automotive and industrial applications.

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CHAIRMAN & MANAGING DIRECTOR'S MESSAGE

Dear Shareholders,

The global macroeconomic landscape in FY 2017 was uncertain, and was characterized by weak growth. Lacklustre performance in the beginning of the year was partially offset by improved momentum towards the end of 2016. Important global developments during the year included the US Federal Reserve increasing policy rates, partial recovery in global commodity prices and a revival in global trade flows.

Developed economies witnessed tepid growth in 2016, in continuum with the trend of the past few years. At the other end of the spectrum, developing and emerging economies have gained in stature and importance in the recent years. Although the growth patterns in emerging economies are uneven, we can expect good growth in some of these economies at least for the medium term. And of course, the best performer in the squad continues to be India.

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FINANCIAL HIGHLIGHTS

TOTAL REVENUE (` IN MILLION)
NET OF EXCISE

  • 31,512
    FY 2013
  • 33,993
    FY 2014
  • 45,481
    FY 2015
  • 43,338
    FY 2016
  • 38,647
    FY 2017

EBIT (` IN MILLION)

  • 5,098
    FY 2013
  • 6,184
    FY 2014
  • 11,058
    FY 2015
  • 10,550
    FY 2016
  • 8,078
    FY 2017

PROFIT BEFORE TAX (` IN MILLION)

  • 4,299
    FY 2013
  • 5,835
    FY 2014
  • 10,609
    FY 2015
  • 10,769
    FY 2016
  • 8,345
    FY 2017