Kalyani Rafael Advanced Systems Pvt Ltd Secures Contract Worth Rs 2875.1 Million From MoD

Bharat Forge Limited on Monday, August 28, informed that Kalyani Rafael Advanced Systems Private Limited (KRASPL) has bagged an order amounting to Rs 2875.1 Million inclusive of taxes from the Indian Ministry of Defence (MoD) for the supply of Missile Systems.

"The order is expected to be executed over the next twelve months," the company said in a regulatory filing.

KRASPL is a joint venture (JV) company between Kalyani Strategic Systems Limited (a wholly owned Defence subsidiary of Bharat Forge Limited) and Rafael Advanced Systems Limited of Israel.

Following the order announcement, the shares of Bharat Forge hit a new 52-week high at Rs 1056 on the BSE. The shares closed 2.60% higher at Rs 1048.40 per share on the BSE. It gained 7.07% in 1 week and 10.47% in 1 year.

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.

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.