Bharat Forge Limited is the flagship company of the USD 2.4 billion Kalyani Group founded by Nilkanthrao Kalyani in 1961 and commenced its operations in 1966. It is a Pune-based Indian multinational company involved in automotive, power, oil and gas, construction & mining, locomotive, marine and aerospace industries. The company has manufacturing operations across nine locations and six countries – 2 in India, 3 in Germany and one each in Sweden, Scotland UK, USA & China.
Bharat Forge Limited (BFL) has the presence in following industrial sectors and products.
Company financial for past 5 years
Quarterly results [Standalone]
[Source: Bharat Forge website]
Bank of America Merill Lynch has downgraded Bharat Forge to underperform. Price target has been cut by 10% to Rs 1130. A decline in heavy truck orders in North America was the reason behind the downgrade. This will slow down the exports of steel forgings to the US truck and machinery sector.
CLSA has also downgraded Bharat Forge to sell sighting the reason of export slowdown. It has set a target price of Rs 745.
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