This is our sixth year of integrated reporting based on the principles of Integrated Reporting <IR> by the International Integrated Reporting Council (IIRC), now part of the IFRS Foundation. This reporting is in line with our philosophy of transparently disclosing information beyond the statutory norms. We have tried to provide holistic insights into our value creation process and factors that may affect it. The Report covers the six capitals – financial, manufactured, human, intellectual, social & relationship and natural – that we use in our business. Further, we cover information on material matters, governance, performance and prospects in context of the external environment. Our intent is to provide relevant information to the stakeholders to better equip them to evaluate our performance and take an informed decision.
The Report covers the financial and non-financial information and activities of Bharat Forge Limited, India, for the period from April 1, 2024, to March 31, 2025. Significant material developments up to the Board Meeting held on May 8, 2025, have also been included.
This Report has been prepared in accordance with the following regulatory requirements:
It also draws guidance from international frameworks, including:
The Board confirms that it has collectively applied its mind in the preparation of this Report. The members accept responsibility for its integrity and are of the opinion that it fairly and comprehensively addresses all material matters, offering a balanced view of the Company’s performance.
Certain statements in this Report regarding our business operations may constitute forward-looking statements. These include all statements other than statements of historical fact, including those regarding the financial position, business strategy, management plans and objectives for future operations. Forward-looking statements can be identified by words such as 'believes', 'estimates', 'anticipates', 'expects', 'intends', 'may', 'will', 'plans', 'outlook' and other words of similar meaning in connection with a discussion of future operating or financial performance.
Forward-looking statements are necessarily dependent on assumptions, data or methods that may be incorrect or imprecise and that may be incapable of being realized and as such, are not intended to be a guarantee of future results, but constitute our current expectations based on reasonable assumptions. Actual results could differ materially from those projected in any forward-looking statements due to various events, risks, uncertainties and other factors. We neither assume any obligation nor intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
UN SDGs
SIX CAPITALS
Financial Capital
The pool of funds available to us –generated through operations and external sources – used to support business activities, drive growth, and deliver shareholder returns
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Intellectual Capital
Our innovation ecosystem comprising R&D centers, technical know-how, proprietary processes, and digital capabilities that drive product excellence and competitive advantage
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Manufactured Capital
Our manufacturing facilities, infrastructure, and equipment that supports manufacture of large-scale, high-quality, and diverse range of products
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Human Capital
The skills, experience, and commitment of our people, who power innovation, operational efficiency, customer focus, and strategic execution
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Social & Relationship Capital
The trust and goodwill we build with customers, partners, communities, and other stakeholders, enabling sustained growth and social impact
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Natural Capital
The environmental resources we depend on – energy, water, raw materials – and our ongoing efforts to reduce ecological impact and enhance sustainability
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Stakeholder groups
Employees
Shareholders
Communities
Government
Customers
Business Partners
Material matters
