| Bharat Forge Ltd is one of the most innovative and exciting companies to emerge in the history of the forging industry.
The Indian Automotive Industry in the 50's was more like the story of imported kits. Ancillaries were nominal and infrastructure was scarce and inadequate. It was then, that Bharat Forge came into existence in 1961 to meet the forging needs of the Indian Automotive Industry.
The 70's witnessed a spurt in the Indian forging industry with more and more units coming up. For Bharat Forge, it was a period of consolidation and growth. With the largest integrated facilities in Asia and an unbeatable track record, Bharat Forge emerged as the undisputed leader - the first name in the forgings industry in India.
With an emphasis on diversification, the 80's saw Bharat Forge grow from a primarily automotive ancillary to an engineering enterprise focusing on technological supremacy, resilience and total customer-orientation.
Today, the art of forging metal is a tradition at Bharat Forge, and all of our products are built with the expertise necessary to accommodate various industries. Each customer specification is carefully transformed into a cost-efficient reality. Every part we create is a representation of our overall dedication to craftsmanship.
An outstanding reputation for customer service coupled with the Management commitment to quality has made Bharat Forge the preferred domestic and global supplier for major OEM's. Under the intense and caring supervision of the Chairman & Managing Director, Mr. Babasaheb N. Kalyani, the company continues to expand and its markets continue to grow, while the goal remains the same : to deliver competitive, quality products and services - time after time.
1961
- The Company was incorporated on 19th June at Mumbai. The main object
of the Company is to manufacture forgings and finished crankshafts.
1971
- Shares of Rs.100 each subdivided.
1976
- 9,30,000 Bonus Equity shares issued in prop. 3:5.
1978
- Pref. shares redeemed in 3 equal instalments on 2nd January, 1st July
and 1st January, 1979.
1981
- The Company's technical collaboration with Sifco Industries Inc., of
U.S.A., ended on 31st March.
- 24,80,000 No. of equity shares issued at a prem. of Rs.30 per share
in part conversion of V Series debentures.
1982
- Balchandra Investment Pvt. ltd., became a wholly owned subsidiary of
the Company and consequently, a deemed public limited company under
section 43-A of the Companies Act, 1956.
1983
- An agreement was concluded with Tokyo, Drop Forging Co., Ltd., of
Japan for technology upgradation, cost optimisation and quality
improvements in the Company's forging unit.
- The Company concluded an agreement with Maharashtra Electronics
Corporation Ltd. (MELTRON), to establish a joint venture to manufacture
colour T.V. sets.
1984
- Forge Investment Ltd., and Mundhwa Investment Ltd., became
subsidiaries of Bhalchandra investment Ltd., with effect from 4th
January.
1985
- The installed capacity of steel forgings at Pune was further
increased from 30,000 tonnes to 40,000 tonnes per annum.
- Industrial licence for steel forgings was endorsed for 7,200 tonnes
and 42,800 tonnes per annum at Jalgaon and Pune units respectively.
- In addition, the Company also received industrial licence for the
manufacture of couplings with 600 tonnes per annum capacity at Mundhwa,
Pune.
- To obtain technology and know-how for the manufacture of couplings,
the Company entered into a collaboration agreement with Torsiflex Ltd.,
U.K.
- The Company privately placed with financial Institutions 3,80,000-15%
secured redeemable non-convertible debentures (IV Series - PP) of Rs.
100 each, for working capital requirements. Also, 4,80,000-15% fully
paid secured redeemable non-convertible debentures (IV series-Rights)
of Rs.100 each were issued on rights basis to finance its industrial
machinery and couplings projects at Vaduth, Satara, and at Mundhwa,
Pune.
- In addition, 7,50,000-10% fully paid secured redeemable convertible
debentures (V Series) of Rs.240 each were issued on rights basis to
finance its front axle assembly projects and for the expansion of open
forgings capacity and defence products machinery at Mundhwa, Pune.
1986
- A letter of intent for machine components was partially converted
into an industrial licence for the manufacture of some of the items
such as defence products machinery etc. as included in the letter of
intent at Mundhwa, Pune.
- Registration was obtained for the manufacture of assemblies,
components, spares, accessories for metallurgical machinery, size
reduction and crushing equipment, conveying equipment and size
separation units with a total capacity of 1,200 tonnes per annum at
Vaduth, Satara.
- Registration for additional capacity of 700 tonnes per annum was
obtained for the Vaduth unit, for the manufacture of other items of
industrial machinery. The Company also undertook to market colour TV
receivers and automotive components manufactured by other companies.
- The name of the Company was changed from Bharat Forge Co. Ltd., to
Bharat Forge, Ltd. with effect from 30th April.
- 3,12,500 No. of equity shares issued at a prem. of Rs 30 per share in
part conversion of V Series debentures.
1987
- Effective from 31st October, Jalkumbhi Investment and Finance Pvt.
Ltd. and Starflower Investment Ltd. became subsidiaries of Forge
Investment Ltd.
- Chakrapushpa Investment and Finance Ltd. and Jalakamal Investment and
Finance became subsidiaries of Mundhwa Investment, Ltd.
1989
- The Company undertook modernisation and rationalisation of the steel
forgings & furnish machined crankshafts division at Pune.
- Delay in the receipt of imported equipment and the initial teething
troubles delayed the modernisation programme at the steel forgings
division, Pune. Both the presses were installed by 1991-92.
- A joint venture under the name of Kalyani Sharp India Ltd. (KSIL) was
set up for the manufacture of Televisions & VCRs. Necessary approvals
were received for the transfer of the Company's electronics marketing
division to KSIL effective from 1st, October.
- During September-October, the Company offered 10,55,450-14%
non-convertible (VI Series) debentures of Rs.100 each on Rights basis
in the prop. 1 debenture : 10 equity shares held. (All were taken up).
Additional 1,52,349 debentures were allotted to retain
over-subscription.
- The Company also issued 63,882 debentures (inclusive of
over-subscription of 15% of 55,500 debentures) to employees (including
Indian working directors)/workers of the Company on an equitable basis
(only 2,010 debentures were taken up). The unsubscribed portion of
61,872 debentures was allowed to lapse.
- A detachable coupon is attached to every debenture entitling the
holder thereof the right to apply and get one equity share of Rs.10
each at a premium as may be approved by CCI at the expiry of 5 years
from the date of allotment of debentures.
- The debentures were to be redeemed at par at the end of the seventh
year, from the date of allotment of debentures.
- 52,72,500 bonus shares issued in prop. 1:1. 35,15,000 rights shares
issued (prem. Rs.40 per share; prop. 1:3). 4,76,412 shares allotted to
retain oversubscription. Another 50,838 shares allotted privately
(prem. Rs.40 per share). Another 48,450 shares allotted to employees
(prem. Rs.40 per share).
1991
- On 22nd May, the Company allotted 10,00,000-14% non-convertible
debentures (7th series) of Rs.100 each on private placement basis.
- The Company issued 19,00,000-18% secured redeemable non-convertible
debentures (8th Series) of Rs.100 each on private placement basis with
Mutual Funds. These are to be redeemed in equal instalments at the end
of 6th, 7th and 8th year from the date of allotment viz., 26th
November, at a premium of 5% payable along with the instalment due at
the end of 7th year.
1992
- The Financial Services Division commenced for investment in various
fund based areas. During the year, it diversified its portfolio into
real estate development.
- The company commissioned the 12,800 tonnes capacity screw type hot
forging press.
- During September/October, the Company offered 13,36,500-16%
Non-convertible debentures of Rs.300 each with a detachable warrant on
Rights basis in the prop. 1 debenture : 11 equity shares held. All
were taken up.
- Another 66,830-16% Non-Convertible debentures of Rs.300 with
detachable warrants each were offered to the employees' on an equitable
basis only 1,560 debentures were taken up. Unsubscribed portion of
65,270 debentures was allowed to lapse.
- These debentures are to be redeemed at a premium of 5% in three equal
instalments at the expiry of 6th, 7th, and 8th year from the date of
allotment of debentures.
- Every debenture was attached with a warrent which entitled the
allottee (of the debenture) to receive a equity shares of 12 months
from the date of allotment of debentures. If the right attached to any
coupon/warrant was not exercised within the specified period, the
equity shares pertaining to the warrants were to be disposed of at the
discretion of the directors.
- Forfeiture on 370 shares annulled. 38,01,950 shares allotted as
rights/to employees (prem. Rs.150 per share).
1993
- The fall in exports was due to the letter of credit not being opened
at Ukraine and recessionery conditions in the thrust markets of Japan &
W. Europe.
- 13,37,035 No. of equity shares issued at a prem. of Rs. 145 per share
on excercise of warrants attached to NCD (9th shares).
1994
- During February/March, the Company offered 65,93,300 No. of equity
shares of Rs.10 each at a premium of Rs.40 per shares in prop. 1:3 (all
were taken up).
- Another 3,29,700 No. of equity shares of Rs.10 each were issued to
the employees on an equitable basis (all were taken up).
- The Company also offered 28,26,000-14.5% secured redeemable
non-convertible debentures of Rs.50 each with a coupon/warrant attached
in the prop. 1 deb : 7 equity shares held. (All were taken up).
- Another 1,41,300-14.5% debentures were issued to the employees on an
equitable basis (only 1,00,450 debentures taking unsubscribed portion
was allotted to lapse).
- These debentures would be redeemed at par in three equal instalments
at the expiry of 6th, 7th, 8th year from the date of allotment.
- Each warrant entitles the holder to apply for one equity share of Rs
10 each at a premium of Rs 40 per share.
- On 1st March, the Company issued convertible notes (1994-1999) of
Swiss Francs 20.00 million equivalent approximately to Rs.431 million.
- Effective from 24th October, Starfflower Investment and Finance Ltd.
and Chakrapushpa Investment and Finance Ltd. ceased to be subsidiaries
of the Company.
- Forfeiture on 4485 shares annulled. 69,23,000 shares allotted as
Rights to the shareholders and employees, 12,09,801 shares issued
(Prem. Rs. 40 againt Equity Warrants attached to NCD VI Series.
35,00,000 shares allotted (Prem. Rs. 146) against Warrants issued to
Promoters. Pref. shares issued on private placement basis.
1995
- The Company proposed to set up a plant for the manufacture of Finish
Machined Crankshafts with a capacity of 1,80,000 nos. per annum at
Pune.
- The Company had entered into a technical knowhow and Assistance
agreement with Metalart Corporation, Japan for the manufacture of small
precision forgings.
- 293, shares allotted. 29,26,450 shares allotted (prem. Rs. 40 per
share) against warrants attached to NCDs. (Xth series). 15,68,600
shares issued (prem. Rs. 186.93 per share). Under senior executive
stock cum share option scheme 18,00,000 shares issued (prem. Rs. 107.18
per share) to Promoters/Group Companies.
1997
- 120,00,000 Redeemable pref. shares redeemed during the year.
1998
- The Company has decided to go head with the implementation of the
Mundhwa project for additional forgings capacity of 38,000 Tonnes.
- BFL also has a financial services division which it set up in FY 93,
IN FY95 it diversified into production of wheel rims.
- BFL's wheel rim division has been hived off into a joint venture with
the collaborator Lemmerze-Were of Germany, with effective from 4th June
1996.
- BFL is the leading player in the sector. It is the flagship of the
Kalyani group and was established in 1961 in collaboration with Steel
Improvement and Forge Co., USA (SIFCO), Commercial production of
forgings began in 1966 with the setting up of a plant at Mundhwa near
Pune.
1999
- Bharat Forge has surprisingly turned an impressive results. Being
the fifth-largest forging company in the world in volume terms.
2000
- Demerger of Investment Division & Wind Mills Division with effect
from March, 1.
2002-Bharat Forge Ltd has informed that Mr G A Nayak, Nominee Director of Unit Trust of India (UTI) has resigned and ceased to be Director, with effect from December 19, 2002, his nomination having been withdrawn by UTI.
2001
-Bharat Forge Ltd has retrenched around 800 employees which represents close to
one fourth of its total workforce at its manufacturing facility.
-G A Nayak has replaced Mr.K.G.Vassal as the nominee of UTI on the Board
of Bharat Forge.
-Bharat Forge reported a 16% drop in the revenue and 81% drop in the net profits.
2002
-Bharat Forge signs a contract with Dana Corporation's Spincer Europe Ltd., for the
supply of forgings.
-Leading Chinese Auto Dealer OEM has awarded the company a large contract
for the supply of engine components,which is worth around $20 million order.
2003
- Bharat Forge Ltd secured the second Largest Customer in China. Guangxi
Yuchai Machinery Co. a part of second Auto Works is among the largest
Auto companies in China, which is a stepping stone for acquiring a large size
of the Chinese Markets.
-Bharat Forge Ltd has appointed Ajay S Nagle as Company Secretary
and also to act as Compliance Officer.
-New contracts has been won in the area of passenger car components. BFL has been chosen by Ford Motor Company and Daimler Chrysler as a supplier of components for their global passenger car programs.
-Board approves raising of raising long term resources
2004
-Bharat Forge all set to enter China
-Bharat Forge Ltd (BFL) has tied up with BITS-Pilani for offering employees an opportunity to enhance their education while continuing to work with the company and acquire degrees in BE and B.Tech.
-Bharat Forge Ltd has appointed Mr Amit B Kalyani as Director of the company wef May 11, 2004 and also as Executive Director of the company wef May 11, 2004.
2005
-Bharat Forge Ltd receives `outstanding organisation' award for quality from the National Institution for Quality and Reliability on April 23
-Bharat Forge acquires Imatra Kilsta AB, Sweden & Scottish Stampings, Scotland
-Bharat Forge Ltd has signed a Joint Venture contract with FAW Corporation for its forging business
-Bharat Forge enters in JV contract with FAW Corporation, China
-Company has splits its Face value of Shares from Rs 10 to Rs 2
2006
-Bharat Forge Ltd has appointed Mrs. Lalita D Gupte as Director of the Company with effect from December 05, 2006.
-Bharat Forge inks agreement with Maharashtra Govt to establish SEZ
-Opening Ceremony of FAW Bharat Forge (Changchun) Co., Ltd.
-Government of Maharashtra and Bharat Forge joined hands to set up a multi-product SEZ in Pune District.
2007
-Centre for Advanced Manufacturing . takes shape in Baramati
-BHARAT FORGE - BITS PILANI convocation ceremony held for the first batch of B.S. (Manufacturing Engineering) Programme.
2008
-Bharat Forge Ltd has announced that on February 08, 2008, the Company has signed a Memorandum of Understanding (MOU) with NTPC Ltd, to set up a Joint Venture Company for its foray into the Capital Goods sector.
-Bharat Forge Ltd has has appointed Mr. Sunil Chaturvedi as Additional Director of the Company with effect from May 20, 2008 and he is also appointed as Executive Director of the Company with effect from May 20, 2008.
-Bharat Forge Commissioned India's Largest Commercial Open Forging Press.
-Bharat Forge signed Letter of Intent with IIT-Bombay
-Alstom and Bharat Forge to set up a Joint Venture to manufacture state-of-the-art super-critical power plant equipments in India.
-Bharat Forge signs MOU with Government of Maharashtra for its Centre for Advanced Manufacturing in Baramati
-Bharat Forge signed a MOU with NTPC
2009
- Bharat Forge Ltd has informed that the Board of Directors of the Company at its meeting held on May 20, 2009, has appointed Mr. P H Ravikumar as Additional Director of the Company with effect from May 20, 2009.
-Bharat Forge and AREVA sign MoU for Manufacture of Heavy Forgings in India
-Bharat Forge receives National Award for Best HR Practices -2009
2010
- Bharat Forge Ltd has appointed Dr. T. Mukherjee as Additional Director of the Company with effect from January 23, 2010.
2011
-Mr. Ajay Kumar Sharma has been appointed as Company Secretary of the Company and he will act as the "Compliance Officer" of the Company.
-Bharat Forge has recommended Dividend of Rs. 3.50 per equity share (175%)
2012
-Bharat Forge Ltd's power equipment joint-venture with Alstom bags Rs. 1,570 crore order from NTPC Ltd.
-Bharat Forge ecommend a final Dividend of Rs. 2.50/- Per Equity Share (125%),in addition to Interim Dividend paid of Rs. 1.50/. (75%), totalling to Rs. 4.00/- (200%)
2013
-Bharat Forge Ltd - NTPC orders three supercritical turbine islands from Alstom-Bharat
-The Company have appointed Mr.Vimal Bhandari as an Additional Director of the Company
-Bharat Forge, Alstom Power JV bags Rs 2,251 cr order from NTPC
-Bharat Forge Ltd. ndia awarded `Sword of Honour' for safety success
-B.N. Kalyani conferred with the IOD Distinguished Fellowship Award 2013
2014
-Bharat Forge - Amalgamation of Joint Venture Companies
-"Safran and Bharat Forge to form partnership to address opportunities in Indian civil and military aerospace".
-Baba N Kalyani conferred with the prestigious `Sir M Visvesvaraya Memorial Award - 2014'
-Saab and the Kalyani Group Sign a Strategic Partnership for the Air Defence of India
2015
-Bharat Forge Ltd - Production starts at Alstom-Bharat Forge's new turbine and generator manufacturing facility in India
-Bharat Forge - Corporate reorganization of European subsidiaries of the Company
-Bharat Forge awarded Recognition Prize - Energy Efficiency Award 2015
-Bharat Forge and Mahindra CIE, an alliance between Spain's CIE and Indias Mahindra Group are in the race to acquire Amtek Autos German subsidiary Neumayer Tekfor.
-Bharat Forge Limited has formalized a significant supply agreement for long term co-operation with Rolls-Royce
2016
-Bharat Forge - Boeing awards 777X titanium forging contract to Bharat Forge
-Bharat Forge awarded Certificate of Recognition by General Motors
-Bharat Forge sets up ordnance factory in Pune
-Bharat Forge wins the prestigious Make in India Awards for "Indigenization through Make in India"
-Bharat Forge has Acquisition of Walker Forge Tennessee LLC
-Bharat Forge awarded Silver Certificate for Manufacturing Excellence
-Bharat Forge awarded with "Frost & Sullivan Award 2016
2017
- "Bharat Forge awarded the prestigious TIME India Global Manufacturer for the Year 2017".
-'Update on acquisition of balance 40% equity shares of Analogic Controls India Limited (ACIL)'.
-"Bharat Forge secures maiden order from Ministry of Defence".
-Bharat Forge awarded Daimler Supplier Award 2016.
-"Kalyani Group and Israel Aerospace Industries to incorporate a JV in India to Manufacture Specific Air Defense Systems".
-Bharat Forge Recognized by General Motors as a 2016 Supplier of the Year Winner.
2018
-BharatForge awarded "1st Winner Award for Lean Project under Lean Category" at 14th Lean Six Sigma Excellence Award 2018 Competition conducted by Symbiosis International.
-Bharat Forge Ltd awarded AIMA Managing India Awards - Indian MNC of the Year.
-Bharat Forge was honoured with Silver Award in the category of "Business Alignment" at the Ashok Leyland Conference on 20th April 2018.
-Established E-Mobility Research & Development Centre in MIRA Technology Park, UK.
-Bharat Forge Inaugurates "Industry 4.0 Centre of Excellence" in partnership with PTC.
-"Bharat Forge Ltd takes a strategic stake in Electric Vehicle company, Tevva Motors (Jersey) Limited".
2019
-BFL was awarded the prestigious "Centenary Industry Excellence Award 2019" from Institution of Engineers.
-Bharat Forge receives Quality Excellence award from Tata Motors Limited at the Supplier Conference in Rome.
-Bharat Forge JV bags $100-mn Israel defence firm order for missile kits.
2020
-Winner of 'Golden Peacock Award for Corporate Social Responsibility' for the year 2019.
-3rd Position Award in 10th Kaizen Competition.
-Bharat Forge commences operations in 'graded manner'.
-Bharat Forge launches Health Risk Monitoring System (HRMS) - An AI platform enabling Safe return to Workplace.
2021
-BFL received the Institution of Engineers (India) Industry Excellence award in the category of Engineering Manufacturing & Processing (EMP) in 36th Indian Engineering Congress held at Vigyan Bhawan.
-CII-SR CFO Awards 2021 under the category of Manufacturing & Distribution.
2022
-Bharat Forge successfully completes acquisition of JS Autocast.
-Bharat Forge Infrastructure Limited Signs Binding Agreement with Talgo India Private Limited.
-Bharat Forge commences supply of forgings utilizing Green Steel, reinforcing company's commitment to reduce carbon footprint.
2023
Bharat Forge announces E-bike manufacturing facility at MIDC,
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