The Hindu Business Line : Bharat Forge Q1 net rises 5.31 pc

Bharat Forge Ltd, the flagship company of the Kalyani Group, player in the engine and chassis components, is investing Rs 350 crore in non-automotive business, over the next three to four years. The location, which is yet to be identified, would be in and around Pune.

Mr Baba N. Kalyani, Chairman and Managing Director, told newspersons that the focus areas for this segment would include the energy segment, power generation segment, aerospace and hydrocarbon exploration.

He said currently about 17 per cent of the company's global revenues were contributed by the non-automotive business.

These sectors, on a global basis, need critical components in forged and machined condition and fall in the category of high value-added components. It was targeting an incremental global revenue of close to Rs 1,000 crore from this segment.

Mr Kalyani said with the talent crunch happening across the globe, it was setting up a training centre in the UK for areas in CAD, CAM, stress analysis etc.

It would be sending personnel across to the training centre and would be exclusively for the BFL Indian operations.

He said the company for the first quarter of the current fiscal posted a net profit of Rs 51.51 crore compared to Rs 48.91 crorefor the corresponding period last year, an increase of 5.31 per cent.

The total income increased to Rs 443.82 crore against Rs 374.68 crore for the last year period.