Bharat Forge’s journey of the past two decades has been one of exponential growth.

Vision 2030 targets

  • Consolidated Revenues: 12-15% CAGR between FY 2022-30 by creating balanced revenue streams across components and products/systems
  • Consolidated EBITDA of 20%: As the incubated verticals progress from investment phase to production mode and the international operations turnaround after a challenging period
  • Consolidated ROCE: Improvement of 500 bps by FY 2030 from FY 2022 levels of 20% through a combination of operational improvement across all business verticals and shrinking the balance sheet

The quantitative results have been impressive:

14%*CAGR IN SALES

13%
*CAGR IN PROFITABILITY (PBT)

19%
*CAGR IN SHAREHOLDERS WEALTH (EX-DIVIDEND)

However, it is the qualitative aspects that inspires and excites us more: of transforming and diversifying, building capacities and capabilities, forging enduring relationships and embedding sustainability.

Ours has been a journey of broadening horizons. From being a supplier predominantly to the Commercial Vehicles sector to a supplier with a balanced exposure across Commercial Vehicles, Passenger Vehicles and an array of Industrial sectors. Our endeavors have seen us graduate from being just a steel forging company to adding capabilities across aluminum, titanium, ferrous and other alloyed materials.

It has been a mission of building diversified technology and knowledge capabilities to stay at the forefront of innovation. What began with manufacturing of simple components has now evolved into development of critical components across sectors in collaboration with our clients, resulting in exceptional outcomes. Our Engineering & Design centers, supported by multi-disciplinary sectoral engineering and R&D capabilities, proved key to this progression. They have been at the core of all innovations that we have undertaken and implemented across businesses. Additionally, we have nurtured a strong talent pool of over 200 M. Techs and PhDs dedicated to process innovation, product prototyping, and component development, enabling us to strengthen our IP profile with 84 patent filings.

Last and more importantly, it has been a pursuit of embedding sustainability across every facet of business to secure our long-term interests and ensure value for all stakeholders.

This multifaceted approach has laid a solid foundation from which we can leverage to propel us to the next level of success. We look ahead to a stronger tomorrow which will be transformational from end-markets point of view as well as from the solutions across technologies and processes that we will be able to deliver.

Towards this end, we have laid out our Vision 2030, entailing financial targets and evolving to an innovative engineering conglomerate, dedicated to meeting customer expectations while developing newer avenues of growth.

*FY 2003 to FY 2023 standalone financials