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MOTORINDIA
l September 2012
BFL’s performance in 2011-12
represented a big step forward. It
was one of the most challenging
years for the global economy. After
achieving consistently high growth
over the past eight years, the Indian
economy has apparently run into a
turbulent weather over the last few
months. The global economic uncer-
tainty, coupled with lack of political
consensus in India for implementa-
tion of major economic reforms,
posed challenges to BFL.
“I am confident that if the Govern-
ment is able to take the initiatives in
certain key areas and kickstart eco-
nomic reforms, the economy will
turn around in this fiscal to grow
at about 6.5-7 per cent. This would
provide a platform to return to 8-9
per cent growth in the medium term.
Implementation of reforms, cou-
pled with removal of bottlenecks
that have stifled economic growth,
would restore investor confidence
and revive the momentum for sus-
tained high economic growth”. –
Baba. N. Kalyani, Chairman.
BFL has been focusing on build-
ing state-of-the-art forging and ma-
chining facilities, investing on new
technologies and R&D, opening up
new growth sectors as key verticals,
and developing new markets, geog-
raphies and customers for products
as well as solutions. Over the next
few years, Bharat Forge is expected
to consistently leverage these to cre-
ate much higher levels of customer
delight and cement its leadership po-
sition in the market.
Despite the sluggish external en-
vironment, Bharat Forge put up
an impressive performance in FY
2012 on the back of robust growth
in the commercial vehicle industry
globally and sustained ramp-up of
non-automotive business. The ma-
jor highlights of the standalone busi-
ness in FY2012 were the significant
growth of 42 per cent in exports to
Rs. 17,347 million and the contin-
ued traction in non-auto sales, both
domestic and exports, rising by 32
per cent to Rs. 12,885 million.
Growth in automotive
markets
BFL is a leading supplier of criti-
cal & safety components for the
automotive market globally with
a well-diversified customer base
across all geographies. The focus
of the automotive business has been
component zone
Bharat Forge Ltd. (BFL), the flagship company of the over $2.5 bil-
lion Kalyani Group, is vigorously working on development of a busi-
ness model that is better insulated from the vagaries of the exter-
nal environment. The company has invested in creating capacities
and global manufacturing footprint to maximise growth opportuni-
ties across sectors and geographies.