Bharat Forge · Annual Report · FY 2025-26 Download Full Report

Governance is the foundation that holds together performance, responsibility and trust. It enables us to operate with transparency, uphold ethical standards and remain accountable to our stakeholders. As we advance in a changing business environment, we continue to evolve our governance practices, strengthen compliance and reinforce the principles that have shaped our credibility over the years.

Material topics linked

M14 M9

Risks Linked

R1 R2 R3 R4 R5 R6 R7

UN SDGs Linked

SDG 8 Decent work and economic growth SDG 9 Industry, innovation and infrastructure SDG 16 Peace, justice and strong institutions SDG 17 Partnerships for the goals

10

Board of Directors

2

Female Directors

Ethics-led transparency

Our governance framework extends beyond statutory compliance and reflects our commitment to fairness, accountability and ethical conduct. The Board sets the tone through a robust Code of Conduct and well-defined policies covering insider trading, whistleblower protection, anti-bribery, anti-corruption and harassment prevention. We also strengthen stakeholder communication through voluntary Sustainability and Integrated Reports aligned with IIRC and GRI frameworks, along with a dedicated ESG page that supports transparent and timely disclosures.

Responsible data stewardship

We manage data protection and cybersecurity through layered IT controls, early-warning mechanisms and structured response protocols. Regular security audits and compliance assessments help us identify emerging threats and strengthen mitigation measures. Continued enhancement of our data compliance systems reinforces our commitment to safeguarding information, protecting digital assets and upholding responsible digital governance.

Board of Directors

Mr. B. N. Kalyani

Chairman & Managing Director

235

Mr. Amit B. Kalyani

Vice-Chairman & Joint Managing Director

2356

Mr. B. P. Kalyani

Executive Director

Mr. S. E. Tandale

Executive Director

Mr. K. B. S. Anand

Independent Director

12

Mr. Dipak B. Mane

Independent Director

46

Ms. Rashmi Joshi

Independent Director

145

Mr. Anand S. Pathak

Independent Director

23

Ms. Sonia Singh

Independent Director

346

Mr. Ashish Bharat Ram

Non-Executive Non-Independent Director

145

Board Committees

  1. Audit Committee
  2. CSR Committee
  3. Stakeholder Relationship Committee
  4. Nomination and Remuneration Committee
  5. Risk Management Committee
  6. Environment, Social and Governance Committee

C Chairman M Member