Bharat Forge Ltd Company History

The Company was incorporated on 19th June at Mumbai. The main object

of the Company is to manufacture forgings and finished crankshafts.

Shares of Rs.100 each subdivided.

9,30,000 Bonus Equity shares issued in prop. 3:5.

Pref. shares redeemed in 3 equal instalments on 2nd January, 1st July

and 1st January, 1979.

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.

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.

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.

Forge Investment Ltd., and Mundhwa Investment Ltd., became

subsidiaries of Bhalchandra investment Ltd., with effect from 4th

January.

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.

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.

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.

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).

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.

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).

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).

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.

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.

120,00,000 Redeemable pref. shares redeemed during the year.

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.

Bharat Forge has surprisingly turned an impressive results. Being

the fifth-largest forging company in the world in volume terms.

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.

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.

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.

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

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.

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

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.

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.

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

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

Bharat Forge Ltd has appointed Dr. T. Mukherjee as Additional Director of the Company with effect from January 23, 2010.

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%)

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%)

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

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

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

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

"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.

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".

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.

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.

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.

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.

Bharat Forge announces E-bike manufacturing facility at MIDC,