The Q1 FY19 was the seventh consecutive quarter of sequential revenue growth for Bharat Forge Ltd (BFL), driven by a combination of its de-risked business model and end market growth. Total revenue at Rs 14,797 million grew by 23.2 per cent compared to Q1 FY18. Despite continued inflationary pressures on raw material and energy front, EBITDA margins at 29 per cent were maintained compared to the same quarter previous year, according to the financial results announced by the company. During the quarter, the company has secured new business wins of Rs 120 crore across domestic and export markets.
“Our German operations, CDP BF has secured a multi-year EUR 40 million business win for supply of Al Forgings for a marquee global premium vehicle manufacturer.
Our focus on indigenisation of critical components and products for the defence sector is progressing well. BFL is proud to be part of the supply chain that enabled the indigenisation of the engines for the armed forces recently. With earlier announced expansion in Nellore and Baramati, we are creating capacity well ahead of time to meet customer needs,” said BN Kalyani, Chairman and Managing Director, BFL.
As part of enhancing its presence in the light material space, BFL’s board has approved setting up of aluminium forging facility in BF PMT in Tennessee, USA.