Financial capital
Primary capital to create value for the stakeholders
Capital employed in Assets: ₹175,279 million | Net debt to equity: 0.18x | Capex: ₹3,233 million
Integrated Annual Report 2025-26
Largest repository of metallurgical knowledge in the region
Providing end-to-end solutions including concept to finished products
More than 30 years of exporting experience
Contributing to India’s transformation into a global economic powerhouse
S1
Focusing on the Indian market
S2
Scaling high-growth verticals
S3
Adding layer of products to the core forging business
S4
Scaling the Indian subsidiaries
S5
Financial prudence and operational focus
S6
Digitalization and organizational capability
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Value is created over time as stocks of capitals increase
Business model dependency on capital
Inputs
High
Manufactured capital
Plants in India: 5 | Material cost: ₹32,456 million | Manufacturing cost: ₹13,056 million
Intellectual capital
Systems and technology powering efficient service delivery
R&D spend: ₹521 million | R&D spend as % of revenue: 0.62% Patents filed in FY2026: 15 | R&D team strength: 107
Medium
Human capital
Key enabler to our business
Total employees: 4,247 | Employee benefit expense: ₹6,760 million Training hours per employee: 22.46
Low
Natural capital
Striving for cleaner footprints through resource-efficient practices
Renewable energy: 85.11 MW | % of electricity consumed from renewable resources: 38% No. of trees planted: 135,365
Social and relationship capital
Relationships with key stakeholders to nurture our business
Societal well-being Investments (CSR Spend): ₹299 million Total volunteers: 3,000
All numbers are on standalone basis
Sources utilized
- Rich culture of research and engineering and product differentiation
- Deep and nurtured relationships
- Technical know-how of people
- Robust forging competence supported by Industry 4.0 excellence
- Vertically integrated model with end-to-end capabilities
Key Segments and Products
Automotive
Commercial | Passenger
Industrial
Power and Oil & Gas | Wind | Rail | Marine | Aerospace | Construction and Mining | Defense | Agriculture | Capital Goods | Semiconductors
Output generated
238,355 tons
Total tonnage
Financial resilience and shareholder value
- Revenue from Operations: ₹83,957 million
- EBITDA: ₹23,121 million
- PAT: ₹8,187 million
- RoCE (Net of cash): 14.9%
Capitals impacted:
UN SDGs impacted:
Scale, market position and operational throughput
- Tonnage shipped: 238,355 tons
- Standalone sales: Leading manufacturer of powertrain and chassis components
- Auto revenues: ₹39,038 million
- Industrial revenues: ₹40,645 million
Capitals impacted:
UN SDGs impacted:
Customer momentum and future order visibility*
- Secured new business: ₹4,814 crore
- Unexecuted Defense orderbook: ₹10,961 crore
Capitals impacted:
UN SDGs impacted:
Innovation, technology and intellectual property
- Process improvement: 18
- Product improvement: 17
- New products developed: 102
- Technical papers published and presented: 8
- Focus on Intellectual property ownership for defense products
- Developed indigenous small jet engines for UAVs indigenizing marine gas turbines for ships
- 2 existing technology centres, along with a third specialized facility in Bengaluru for turbines
Capitals impacted:
UN SDGs impacted:
People productivity, safety and employment generation
- Revenue per employee: ₹19.77 million
- Lost time injury frequency rate: 0.57
Capitals impacted:
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Community development and inclusive growth
- Lives touched through CSR: 333,959
- Women empowered: 3,790
- Students benefited: 5,785
Capitals impacted:
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Environmental stewardship and resource efficiency
- Wastewater recycled: 100%
- Usage of recycled water in operations: 49%
- GHG emissions avoided through use of renewable energy (tCO₂e): 105,066
- GHG emission intensity (Scope 1 & 2): Reduced 31% over six years
Capitals impacted:
UN SDGs impacted:
Responsible manufacturing recognition
- Continuous improvement in external sustainability ratings
Capitals impacted:
UN SDGs impacted:
All numbers are on standalone basis
* Includes orders bagged by Bharat Forge and its subsidiaries