BHARAT FORGE LIMITED
Regd. Office : Mundhwa, Pune Cantonment, Pune 411 036,
Maharashtra, India.
CIN:L25209PN1961PLC012046
Ph. No. : 91-20-6704 2777 / 2476, Fax No. : 91-20-2682 2163
Email : secretarial@bharatforge.com; Website : www.bharatforge.com
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2022
(₹ in Million) | |||||
Quarter ended | Year ended | ||||
June 30, | March 31, | June 30, | March 31, | ||
Sr. No. | Particulars | 2022 | 2022 | 2021 | 2022 |
(Unaudited) | (Audited) | (Unaudited) | (Audited) | ||
(See note 3) | |||||
1 | Income | ||||
a) Revenue from operations | 17,593.90 | 16,740.82 | 13,718.45 | 62,546.12 | |
b) Other income | 259.37 | 661.57 | 332.92 | 1,675.02 | |
Total income | 17,853.27 | 17,402.39 | 14,051.37 | 64,221.14 | |
2 | Expenses | ||||
a) Cost of raw materials and components consumed | 7,816.01 | 7,288.81 | 5,379.78 | 26,472.70 | |
b) Changes in inventories of finished goods, | |||||
work-in-progress, dies and scrap | (543.85) | (38.85) | (168.85) | (946.75) | |
c) Employee benefits expense | 1,356.54 | 1,282.55 | 1,216.38 | 5,057.85 | |
d) Depreciation and amortisation expense | 1,064.36 | 1,042.03 | 1,019.03 | 4,117.91 | |
e) Finance costs | 263.40 | 407.44 | 405.68 | 1,073.01 | |
f) Other expenses (see note 5) | 4,614.39 | 3,896.58 | 3,377.36 | 14,805.02 | |
Total expenses (a to f) | 14,570.85 | 13,878.56 | 11,229.38 | 50,579.74 | |
3 | Profit before exceptional items and tax (1-2) | 3,282.42 | 3,523.83 | 2,821.99 | 13,641.40 |
4 | Exceptional items (loss)/ gain (see note 4) | (30.49) | (24.77) | (616.47) | 318.03 |
5 | Profit before tax (3+4) | 3,251.93 | 3,499.06 | 2,205.52 | 13,959.43 |
6 | Income tax expense | ||||
a) Current tax | 883.77 | 786.87 | 586.32 | 3,328.22 | |
b) Deferred tax | (68.42) | 92.59 | (47.69) | (146.82) | |
Income tax expense | 815.35 | 879.46 | 538.63 | 3,181.40 | |
7 | Profit for the period/year (5-6) | 2,436.58 | 2,619.60 | 1,666.89 | 10,778.03 |
8 | Other comprehensive income | ||||
a) Other comprehensive income/(loss) not to be reclassified | |||||
to profit and loss in subsequent period | (94.93) | 1,608.69 | 135.47 | 2,143.86 | |
- Tax effect | 8.31 | (365.02) | 1.19 | (443.09) | |
b) Other comprehensive income/(loss) to be reclassified | |||||
to profit and loss in subsequent period | (688.91) | (345.46) | (386.34) | 1,008.09 | |
- Tax effect | 173.38 | 94.81 | 128.49 | (245.85) | |
Other comprehensive income/(loss) (Net of tax) | (602.15) | 993.02 | (121.19) | 2,463.01 | |
9 | Total comprehensive income/(loss) (7+8) | 1,834.43 | 3,612.62 | 1,545.70 | 13,241.04 |
10 | Earnings per share | ||||
- Basic and diluted (in ₹) (not annualised) | 5.23 | 5.63 | 3.58 | 23.15 | |
11 | Equity share capital (Face Value ₹ 2/- each) | 931.27 | 931.27 | 931.27 | 931.27 |
12 | Other equity | 70,166.48 | |||
Additional Information : | |||||
Profit before tax and before other income, depreciation and | 4,600.47 | 4,307.45 | 3,909.67 | 16,798.13 | |
amortisation expense, finance costs, exchange gain/(loss) included | |||||
in other expenses (see note 5) and exceptional items (see note 4) | |||||
Profit before tax, before exchange gain/(loss) included in other | 3,532.08 | 3,519.55 | 2,817.88 | 13,282.23 | |
expenses (see note 5) and exceptional items (see note 4) | |||||
BHARAT FORGE LIMITED
Regd. Office : Mundhwa, Pune Cantonment, Pune 411 036,
Maharashtra, India.
CIN:L25209PN1961PLC012046
Ph. No. : 91-20-6704 2777 / 2476, Fax No. : 91-20-2682 2163
Email : secretarial@bharatforge.com; Website : www.bharatforge.com
STATEMENT OF CONSOLIDIATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2022
(₹ in Million) | |||||
Quarter ended | Year ended | ||||
June 30, | March 31, | June 30, | March 31, | ||
Sr. | Particulars | 2022 | 2022 | 2021 | 2022 |
No. | (Unaudited) | (Audited) | (Unaudited) | (Audited) | |
(See note 3 and | (See note 12) | ||||
12) | |||||
1 | Income | ||||
a) Revenue from operations | 28,514.64 | 35,730.93 | 21,076.77 | 104,610.78 | |
b) Other income | 325.79 | 829.56 | 407.16 | 1,959.00 | |
Total income | 28,840.43 | 36,560.49 | 21,483.93 | 106,569.78 | |
2 | Expenses | ||||
a) Cost of raw materials and components consumed | 13,438.26 | 15,474.99 | 9,214.33 | 46,175.79 | |
b) Purchase of traded goods | 415.94 | 664.71 | 294.51 | 1,883.13 | |
c) Changes in inventories of finished goods, traded goods | |||||
work-in-progress, dies and scrap | (1,380.02) | (157.42) | (2,050.43) | (5,899.30) | |
d) Employee benefits expense | 3,713.47 | 5,213.83 | 3,288.70 | 14,646.83 | |
e) Depreciation, amortisation and impairment expense | 1,807.53 | 2,138.25 | 1,667.75 | 7,303.01 | |
f) Finance costs | 395.38 | 626.31 | 500.67 | 1,604.05 | |
g) Other expenses (see note 5) | 8,048.89 | 8,995.44 | 5,826.87 | 27,644.98 | |
Total expenses (a to g) | 26,439.45 | 32,956.11 | 18,742.40 | 93,358.49 | |
3 | Profit before share of (loss)/profit of associates, | ||||
joint ventures, exceptional items and tax (1-2) | 2,400.98 | 3,604.38 | 2,741.53 | 13,211.29 | |
4 | Share of (loss)/ profit of associates and joint ventures | (24.19) | (106.59) | (90.78) | (329.30) |
Income tax expense | 0.47 | 0.42 | 0.30 | 0.90 | |
Share of (loss)/profit of associates and joint ventures after tax | (24.66) | (107.01) | (91.08) | (330.20) | |
5 | Profit before exceptional items and tax (3+4) | 2,376.32 | 3,497.37 | 2,650.45 | 12,881.09 |
6 | Exceptional items gain/(loss) (see note 4) | (30.49) | (131.30) | (616.47) | 924.05 |
7 | Profit/(loss) before tax (5+6) | 2,345.83 | 3,366.07 | 2,033.98 | 13,805.14 |
8 | Income tax expense | ||||
a) Current tax | 917.41 | 868.00 | 587.16 | 3,529.58 | |
b) Deferred tax | (175.28) | 179.49 | (80.66) | (495.05) | |
Income tax expense | 742.13 | 1,047.49 | 506.50 | 3,034.53 | |
9 | Profit/(loss) for the period/year (7-8) | 1,603.70 | 2,318.58 | 1,527.48 | 10,770.61 |
10 | Other comprehensive income | ||||
a) Other comprehensive income/(loss) not to be reclassified | |||||
to profit and loss in subsequent period | (164.74) | 1,768.41 | 136.75 | 2,388.76 | |
- Tax effect | 29.70 | (394.02) | 1.19 | (499.29) | |
b) Other comprehensive income/(loss) to be reclassified | |||||
to profit and loss in subsequent period | (492.41) | (547.62) | (560.94) | 707.79 | |
- Tax effect | 173.38 | 94.81 | 128.49 | (245.85) | |
Other comprehensive income/(loss) (Net of tax) | (454.07) | 921.58 | (294.51) | 2,351.41 | |
11 | Total comprehensive Income/(loss) (9+10) | 1,149.63 | 3,240.16 | 1,232.97 | 13,122.02 |
12 | Total comprehensive income/(loss) above attributable to: | ||||
- Owners of the parent | 1,190.45 | 3,278.61 | 1,241.88 | 13,168.82 | |
- Non-controlling interest | (40.82) | (38.45) | (8.91) | (46.80) |
13 Of the total comprehensive income/(loss) above, profit/(loss) for the period/year attributable to:
- Owners of the parent | 1,644.51 | 2,357.23 | 1,536.49 | 10,817.56 | |
- Non-controlling interest | (40.81) | (38.65) | (9.01) | (46.95) | |
14 | Of the total comprehensive income above, | ||||
Other comprehensive income/(loss) for the year attributable to: | |||||
- Owners of the parent | (454.06) | 921.38 | (294.61) | 2,351.26 | |
- Non-controlling interest | (0.01) | 0.20 | 0.10 | 0.15 | |
15 | Earnings per share | ||||
Basic and diluted (not annualised) (in ₹) | 3.53 | 5.06 | 3.30 | 23.23 | |
16 | Equity share capital (Face Value ₹ 2/- each) | 931.27 | 931.27 | 931.27 | 931.27 |
17 | Other equity | 64,775.47 | |||
Additional Information : | |||||
Profit before share of profit /(loss) of associates, joint ventures, tax | 4,379.01 | 5,522.18 | 4,546.41 | 19,810.02 | |
and before other income, depreciation, amortization and impairment | |||||
expense, finance costs, exchange gain/(loss) included in other expenses | |||||
(see note 5) and exceptional items (see note 4) | |||||
Profit before share of profit/(loss) of associates, joint ventures, tax, | 2,501.89 | 3,587.18 | 2,785.15 | 12,861.96 | |
before exchange gain/(loss) included in other expenses (see note 5) | |||||
and exceptional items (see note 4) |
BHARAT FORGE LIMITED
Regd. Office : Mundhwa, Pune Cantonment, Pune 411 036,
Maharashtra, India.
CIN: L25209PN1961PLC012046
Ph. No. : 91-20-6704 2777 / 2476, Fax No. : 91-20-2682 2163
Email : secretarial@bharatforge.com, Website : www.bharatforge.com
STATEMENT OF STANDALONE AND CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2022
NOTES TO FINANCIAL RESULTS (Contd..) :
1 Consolidated segment wise revenue, results and capital employed for the quarter ended June 30, 2022.
'The Group's business is divided into two reporting segments which comprises of "Forgings" and "Others" which represents the Group's businesses not covered in Forgings segment. The Chief Operating Decision Maker monitors the operating results of the business units separately for the purpose of making decisions about resource allocation and performance assessment based on an analysis of various performance indicators.
The "Forgings" segment produces and sells forged products comprising of forgings and machined components for automotive and industrial sectors. "Others " primarily includes various new initiatives which the Group is carrying out other than forging related activities.
Consolidated statement of profit and loss | (₹ in Million) | ||||
Quarter ended | Year ended | ||||
June 30, | March 31, | June 30, | March 31, | ||
Sr. | Particulars | 2022 | 2022 | 2021 | 2022 |
No. | (Unaudited) | (Audited) | (Unaudited) | (Audited) | |
(See note 3 and | (See note 12) | ||||
12) | |||||
1 | Segment revenue | ||||
Revenues from external customers | |||||
a | Forgings | 27,957.68 | 34,268.97 | 20,684.87 | 101,616.05 |
b | Others | 707.03 | 1,825.67 | 608.09 | 3,981.44 |
28,664.71 | 36,094.64 | 21,292.96 | 105,597.49 | ||
Less: Inter-segment revenue | 1.81 | - | 4.31 | 7.03 | |
Total | 28,662.90 | 36,094.64 | 21,288.65 | 105,590.46 | |
Adjustments and eliminations # | (148.26) | (363.71) | (211.88) | (979.68) | |
Revenue from operations | 28,514.64 | 35,730.93 | 21,076.77 | 104,610.78 | |
2 | Segment results | ||||
a | Forgings | 3,237.57 | 4,299.70 | 3,263.87 | 15,263.20 |
b | Others | (113.99) | (109.42) | (77.48) | (299.03) |
Total segment profit before interest, tax and exceptional | 3,123.58 | 4,190.28 | 3,186.39 | 14,964.17 | |
items from each reportable segment | |||||
Less: Finance cost | 395.38 | 626.31 | 500.67 | 1,604.05 | |
Less: Unallocable expenditure (net) | 351.88 | 66.60 | 35.27 | 479.03 | |
Total profit before tax and exceptional items | 2,376.32 | 3,497.37 | 2,650.45 | 12,881.09 | |
Add: Exceptional items (loss)/ gain | |||||
Forgings | (30.49) | (131.30) | (616.47) | (846.09) | |
Others | - | - | - | 1,770.14 | |
(30.49) | (131.30) | (616.47) | 924.05 | ||
Profit before tax | 2,345.83 | 3,366.07 | 2,033.98 | 13,805.14 | |
Consolidated Balance Sheet | (₹ in Million) | |||
Sr. | Particulars | June 30, | June 30, | March 31, |
No. | 2022 | 2021 | 2022 | |
(Unaudited) | (Unaudited) | (Audited) | ||
3 | Segment assets | |||
a | Forgings | 114,500.57 | 100,826.01 | 113,060.74 |
b | Others | 9,962.84 | 5,666.40 | 9,436.34 |
c | Unallocable assets including unutilised funds | 38,541.66 | 33,048.25 | 34,390.27 |
Total | 163,005.07 | 139,540.66 | 156,887.35 | |
Adjustments and eliminations # | (758.35) | (454.31) | (798.01) | |
Total assets | 162,246.72 | 139,086.35 | 156,089.34 | |
4 | Segment liabilities | |||
a | Forgings | 25,655.90 | 23,473.46 | 24,846.55 |
b | Others | 1,681.85 | 1,141.92 | 2,027.10 |
c | Unallocable | 3,885.49 | 3,383.25 | 3,931.95 |
Total | 31,223.24 | 27,998.63 | 30,805.60 | |
Adjustments and eliminations # | (760.29) | (543.44) | (851.80) | |
Total liabilities | 30,462.95 | 27,455.19 | 29,953.80 | |
Net capital employed | 131,783.77 | 111,631.16 | 126,135.54 | |
- Adjustment and eliminations include elimination on revenue, assets and liabilities of joint ventures and associates which have been accounted under equity method.
BHARAT FORGE LIMITED
Regd. Office : Mundhwa, Pune Cantonment, Pune 411 036,
Maharashtra, India.
CIN:L25209PN1961PLC012046
Ph. No. : 91-20-6704 2777 / 2476, Fax No. : 91-20-2682 2163
Email : secretarial@bharatforge.com; Website : www.bharatforge.com
STATEMENT OF STANDALONE AND CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2022
NOTES TO FINANCIAL RESULTS (Contd.):
- The above results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on August 11, 2022.
- The figures pertaining to quarter ended March 31, 2022 are the derived figures between the audited amounts for the year ended March 31, 2022 and unaudited amounts published for the nine months period ended December 31, 2021. Also refer note 12
- Exceptional item represents :
- Pursuant to the Voluntary Retirement Scheme (VRS) declared by the Company for its employees in April 2022 expenses of ₹ 30.49 million have been provided for the quarter ended June 30, 2022 in the standalone and consolidated financial results.
5 "Other expenses" includes the impact of exchange fluctuations on foreign currency transactions including revaluation of foreign currency assets and liabilities.
(₹ in Million)
Quarter ended | Year ended | ||||
Particulars | June 30, | March 31, | June 30, | March 31, | |
2022 | 2022 | 2021 | 2022 | ||
(Unaudited) | (Audited) | (Unaudited) | (Audited) | ||
(See note 3) | |||||
Standalone | |||||
Exchange gain/(loss) | (249.66) | 4.28 | 4.11 | 359.17 | |
Consolidated | |||||
Exchange gain/(loss) | (100.91) | 17.20 | (43.62) | 349.33 | |
- The code on Social Security, 2020 ('Code') relating to employees benefits during employment and post-employment benefits received Presidential assent in September 2020. The Code has been published in the Gazette of India. However, the date on which the Code will come into effect has not been notified and the final rules/interpretation have not yet been issued. The Group will assess the impact of the Code when it comes into effect and will record any related impact in the period the Code becomes effective.
- The Company through its wholly owned subsidiary BF Industrial Solutions Limited (BFISL) has acquired JS Auto Cast Foundry Private Limited ("JS Auto"), a Coimbatore based casting and machining company, on July 01, 2022 for a consideration of ₹ 4,896.30 million. The Company will account for the said acquisition as a business combination in accordance with Ind AS 103 Business Combinations.
- On July 28, 2022, the Company has declared a Voluntary Retirement Scheme (VRS) for its employees. The scheme would be open till August 20, 2022.
- On July 12, 2022, Kalyani Lightweighting Technology Solutions Limited (KLTSL) has been incorporated as a wholly owned subsidiary of the Company. KLTSL has been incorporated to undertake activities related to lightweighting technology business.
- On July 25, 2022, Kalyani Powertrain Limited (KPL), a wholly owned subsidiary of the Company, incorporated Electroforge Limited (EFL) as a wholly owned subsidiary. EFL has been incorporated to undertake the e-mobility related activities to cater to the EV initiatives and business of the Company.
- On July 27, 2022, BF Infrastructure Limited, a wholly-owned subsidiary of the Company and Talgo India Private Limited, a wholly-owned subsidiary of Patentes Talgo S.L. Spain, have entered into a binding agreement to set-up a joint venture which will engage into manufacturing high speed passenger trains.
- The consolidated financial results include a period of 6 months and 15 months pertaining to certain foreign components for the quarter and year ended March 31, 2022 respectively. Refer note 14 for further information.
The statutory financial reporting period of the Holding Company for standalone and consolidated financial results is April 01 to March 31. For certain foreign components (refer note 14), the reporting period till December 31, 2021 was January 01 to December 31 ("non-coterminous period"). The Board of Directors of the Holding Company considered the above and in the previous year decided to align the accounting periods for consolidation purposes of all the subsidiaries, associates and joint ventures for better presentation of operating performance of the Group. As a result, the accounting year of those foreign components have been aligned with that of the Holding Company in the previous year. Consequently, the financial results of these components were prepared for 15 months from January 1, 2021 to March 31, 2022 for the previous year and 6 months from October 1, 2021 to March 31, 2022 for the previous quarter. Accordingly, the current quarter's figures are not comparable to those of the previous quarter ended March 31, 2022 and year ended March 31, 2022.
13 On April 19, 2022, the Company issued 2,000 5.80% listed, rated, unsecured, redeemable, non-convertible debentures having face value of ₹ 1.00 million each aggregating to ₹ 2,000 million on private placement basis.
BHARAT FORGE LIMITED
Regd. Office : Mundhwa, Pune Cantonment, Pune 411 036,
Maharashtra, India.
CIN:L25209PN1961PLC012046
Ph. No. : 91-20-6704 2777 / 2476, Fax No. : 91-20-2682 2163
Email : secretarial@bharatforge.com, Website: www.bharatforge.com
STATEMENT OF STANDALONE AND CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2022
NOTES TO FINANCIAL RESULTS (Contd.):
14 The consolidated financial results include results of all the subsidiaries, associates and joint ventures of Bharat Forge Limited and their step down subsidiaries, joint ventures and associates. The names, country of incorporation or residence and proportion of ownership interests are as under:
Name of the company | Country of | Parent's ultimate | Financial year | |
incorporation | holding as on | ends on | ||
June 30, 2022 | ||||
A | Subsidiaries : | |||
- Bharat Forge Global Holding GmbH and its wholly owned subsidiaries * | Germany | 100% | 31-Mar-23 | |
i. Bharat Forge CDP GmbH and its wholly owned subsidiaries * | Germany | 100% @ | 31-Mar-23 | |
- Bharat Forge Daun GmbH * | Germany | 100% @ | 31-Mar-23 | |
- Bharat Forge CDP Trading ~ | Russia | Not Applicable | Not Applicable | |
ii. Bharat Forge Holding GmbH and its wholly owned subsidiary* | Germany | 100% @ | 31-Mar-23 | |
- Bharat Forge Aluminiumtechnik GmbH * | Germany | 100% @ | 31-Mar-23 | |
iii. Mecanique Generale Langroise * | France | 100% @ | 31-Mar-23 | |
iv. Bharat Forge Kilsta AB * | Sweden | 100% @ | 31-Mar-23 | |
- Bharat Forge International Limited | U.K. | 100% | 31-Mar-23 | |
- Bharat Forge America Inc. and its wholly owned subsidiaries * | U.S.A. | 100% | 31-Mar-23 | |
i. Bharat Forge PMT Technologie LLC * | U.S.A. | 100% @ | 31-Mar-23 | |
ii. Bharat Forge Tennessee INC. * | U.S.A. | 100% @ | 31-Mar-23 | |
iii. Bharat Forge Aluminium USA, INC. * | U.S.A. | 100% @ | 31-Mar-23 | |
- Indigenous IL Limited (not consolidated) | Israel | Not Applicable | 31-Mar-23 | |
- BF Infrastructure Limited and its subsidiary | India | 100% | 31-Mar-23 | |
i. BFIL-CEC JV | India | 74% @ | 31-Mar-23 | |
- Kalyani Strategic Systems Limited and its subsidiaries | India | 100% | 31-Mar-23 | |
i. Kalyani Rafael Advanced Systems Private Limited | India | 50% @ | 31-Mar-23 | |
ii. Kalyani Strategic Systems Australia Pty Limited (not consolidated) # | Australia | Not Applicable | 31-Mar-23 | |
iii. Sagar Manas Technologies Limited (not consolidated) # # | India | 100% @ | 31-Mar-23 | |
- BF Elbit Advanced Systems Private Limited | India | 100% | 31-Mar-23 | |
- Analogic Controls India Limited | India | 100% | 31-Mar-23 | |
- Eternus Performance Materials Private Limited | India | 51% | 31-Mar-23 | |
- Kalyani Centre for Precision Technology Limited | India | 100% | 31-Mar-23 | |
- Kalyani Powertrain Limited (KPL) and its wholly owned subsidiaries | India | 100% | 31-Mar-23 | |
i. Kalyani Mobility INC (formerly Kalyani Precision Machining INC.)* | U.S.A. | 100% @ | 31-Mar-23 | |
(subsidiary of KPL w.e.f. September 9, 2021) | ||||
ii. Tork Motors Private Limited and its wholly owned subsidiary | India | 64.29% @^^^ | 31-Mar-23 | |
(subsidiary of KPL w.e.f. November 22, 2021) | ||||
- Lycan Electric Private Limited | India | 64.29% @ | 31-Mar-23 | |
iii. Electroforge Limited (incorporated w.e.f. July 25, 2022) | India | 100% @ | 31-Mar-23 | |
- BF Industrial Solutions Limited (formerly Nouveau Power and | India | 100% | 31-Mar-23 | |
Infrastructure Private Limited) - and its wholly owned subsidiaries** | ||||
- BF Industrial Technology and Solutions Limited (formerly Sanghvi | ||||
Forging and Engineering Limited) and its wholly owned subsidiary $$ | India | 100% @ | 31-Mar-23 | |
i. Sanghvi Europe B.V. $$ * | Netherlands | 100% @ | 31-Mar-23 | |
- JS Auto Cast Foundry India Private Limited (w.e.f July 01, 2022) | India | 100% @ | 31-Mar-23 | |
- Kalyani Lightweighting Technology Solutions Limited | ||||
( incorporated w.e.f. July 12, 2022) | India | 100% | 31-Mar-23 | |
B | Associates: | |||
- Talbahn GmbH (not consolidated) | Germany | 35% @ | 31-Mar-23 | |
- Ferrovia Transrail Solutions Private Limited | India | 49% @ | 31-Mar-23 | |
- Tork Motors Private Limited (48.86% up to November 21, 2021) | India | Not Applicable | Not Applicable | |
i. Lycan Electric Private Limited (48.86% up to November 21, 2021) $ | India | Not Applicable @ | Not Applicable | |
- Tevva Motors (Jersey) Ltd. (34.45% up to November 8, 2021)* | U.K. | Not Applicable | Not Applicable | |
i. Tevva Motors Limited (14.27% up to November 8, 2021) * | U.K. | Not Applicable @ | Not Applicable | |
- Avaada MHVidarbha Private Limited (w.e.f. April 14, 2022) | India | 26.00% | 31-Mar-23 | |
- Aeron Systems Private Limited | India | 37.14% | 31-Mar-23 | |
C | Joint Venture Companies: | |||
- BF-NTPC Energy Systems Limited (not consolidated)^^ | India | 51% | 31-Mar-23 | |
- BF Premier Energy systems Private Limited | India | 50% @ | 31-Mar-23 | |
- Refu Drive GmbH * | Germany | 50% | 31-Mar-23 | |
i. Refu Drive India Pvt. Ltd. $ * | India | 50% @ | 31-Mar-23 |
- held through subsidiary, associate or Joint venture $ 100% subsidiary of associates / joint venture
*change in financial year end date from year ended March 31, 2022 for group reporting purpose. ** w.e.f. May 06, 2021
$$ w.e.f. June 28, 2021
~ Deregistered w.e.f. January 14, 2021 ^^ Under liquidation
^^^ based on allotted shares as of December 31, 2021
# w.e.f. November 10, 2021
# # w.e.f. March 07, 2022
For BHARAT FORGE LIMITED | |
(B. N. KALYANI) | |
Place : Pune | CHAIRMAN AND MANAGING DIRECTOR |
Date : August 11, 2022 | DIN:00089380 |
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Bharat Forge Limited published this content on 11 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2022 10:00:01 UTC.