The Hindu Business Line : Bharat Forge Q4 net up 33.5 pc

BHARAT Forge Ltd has reported a 33.51 per cent rise in net profit for the fourth quarter ended March 2005 to Rs 48.37 crore from Rs 36.23 crore in the corresponding previous period.

The board has recommended a dividend of 125 per cent, amounting to Rs 12.50 per equity share.

Total income was up 50.87 per cent at Rs 363.38 crore (Rs 240.85 crore), including a 56.91 per cent increase in net sales/income from operations to Rs 361.26 crore (Rs 230.23 crore).

For 2004-05, the company posted a 29.41 per cent gainin net profit to Rs 161.63 crore (Rs 124.90 crore) on a 44.09 per cent rise in total income to Rs 1,226.46 crore (Rs 851.14 crore).

Net sales/income from operations for the period was up 46.51 per cent at Rs 1,219.06 crore (Rs 832.05 crore).

At a consolidated level, including revenues from German operations, the company posted net profit of Rs 201.08 crore on total income of Rs 2,001.38 crore for the year.

Of the total income, Rs 1,285 crore came from overseas sales. CDP-Bharat Forge accounted for Rs 10 of the company's consolidated EPS of Rs 49.79.

Mr Baba Kalyani, Chairman and Managing Director, told newspersons that the company's total forging capacity at Pune should be 2,40,000 tonnes by December 2005, from 1,30,000 tonnes now.

Mr Amit Kalyani, Executive Director, said the company should have a positive answer for its proposed foray into China - it already supplies components from India and Germany - before the year-end, with a likely announcement on its entry into North America ahead of that.

The company, which has three plants in Europe - two for steel forgings and one for aluminium forgings - wants to have a value-added machining facility in East Europe. "This could be an acquisition or a greenfield project."

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