STRONGER BHARAT FORGE

Bharat Forge is confident of strong growth as it taps new avenues after some effect of the pandemic.

- Bhushan Mhapralkar

Reporting a consolidated net profit of Rs.212.12 crore for the last quarter of FY2020-21 against a net loss Rs.68.59 crore in the year prior to this, Bharat Forge, an automotive, defence and aerospace components supplier, is confident of strong growth on the basis of an ecouraging rebound in export markets. Said to expect robust demand in major export segments such as CVs, construction and mining, and oil and gas, the company looks well poised to tide over the current weakness in the domestic market, according to industry sources. Drawing attention to CV majors like Volvo, Daimler and Paccar providing positive demand commentaries and the 2021 calendar year forecast of retail units in North America and Europe being raised by at least 10 per cent post a sharp downturn seen in 2020 calendar year, sources mention that a strong demand rebound in medium and heavy-duty commercial vehicles in Europe and North American market will help Bharat Forge gain good export traction. Claimed to maintain a positive outlook for M&HCV segment thus on the back of infrastructure spending and government’s focus on increasing manufacturing share in GDP, PLI schemes, scrappage policy, etc., Bharat Forge is known to explore opportunities in the aluminium space after the commencement of operations at its Nellore plant.