We’re glad to announce that Bharat Forge Limited, along with its subsidiary BF Industrial Solutions Limited has completed the acquisition of JS Auto Cast Foundry India Pvt. Ltd. This acquisition will significantly enhance Bharat Forge’s capabilities and addressable market segments both domestically and in export markets, especially in niche industrial segments. Additionally, it will bring with it significant synergies that particularly strengthen Bharat Forge’s positioning as a preferred ‘#Industrial_Solutions_provider.
The acquisition shall enable Bharat Forge to expand its product portfolio in the industrial sector, customer base and manufacturing presence in South India. Post completion of the acquisition, JS Auto will become a wholly-owned subsidiary of BF Industrial Solutions Limited (“BFISL”) and a step-down subsidiary of Bharat Forge. Amit Kalyani, deputy managing director, Bharat Forge commented, “JS Auto will accelerate our diversification journey and enable in addressing the Decarbonization opportunity. This acquisition along with the previous deal in the open die segment significantly broadens our presence, capabilities and product offerings in the industrial space.”
Pune based Bharat Forge provides safety critical components and solutions for several sectors including automotive, power, oil and gas, construction & mining, rail, marine, defense and aerospace. On a consolidated basis, Bharat Forge reported net profit of Rs 421.19 crore in Q3 December 2021 as against net loss of Rs 209.20 crore in Q3 December 2020. Net sales jumped 38.97% to Rs 2,394.68 crore in Q3 December 2021 over Q3 December 2020. Shares of Bharat Forge tumbled 5.43% to Rs 666 on BSE amid a broader selloff.