Bharat Forge's Defence Subsidiary Secures Order Worth EUR 93.87 Million, Shares Hit 52-Week High

Bharat Forge Limited (BFL) has informed the stock exchanges that its wholly-owned Defence subsidiary Kalyani Strategic Systems Limited (KSSL) has bagged two export orders.

The two orders worth EURO 93.87 million (~Rs 850 Crores) are bagged from friendly countries for the supply of components and Armoured vehicle chassis to be executed over an 18-month timeframe. This is subject to necessary government approvals, the company said.

Bharat Forge shares have risen over 5% since the announcement of the order. On Thursday, the shares hit 52-week high at Rs 1052 apiece on BSE, trading at Rs 1042.50 apiece, up 0.72% from the previous close. The shares has gained 9.04% in the last 1 week. In the last 1 year, it gained 42.02%. BFL has a market cap of Rs 48.556.41 Crore.

About - Bharat Forge Limited (BFL)

Bharat Forge Limited (BFL) is the flagship company of the USD 3 billion Kalyani Group and a global provider of high performance, innovative, safety & critical components and solutions to various sectors including Automotive, Railways, Defence, Construction & Mining, Aerospace, Marine and Oil & Gas. BFL today has the largest repository of metallurgical knowledge in the region and offers full-service supply capability to its geographically dispersed marquee customers from concept to product design, engineering, manufacturing, testing and validation. At the cusp of a breakout growth & transformation into an engineering conglomerate through its aggressive foray in capital goods and infrastructure sectors, BFL is committed to proactively expedite India's transformation into a global economic powerhouse.

About - Kalyani Strategic Systems Ltd. (KSSL)

Kalyani Strategic Systems Ltd. (KSSL) is a 100% subsidiary of Bharat Forge Limited, set up as a flagship company to drive defence business initiatives. The Group's legacy and experience in design, engineering, metallurgy, and manufacturing expertise spanning over five decades have played a key role in the Group emerging as one of the leading defence players in India with established capabilities of entities within its fold across key locations in India.