Bharat Forge registers 92.3% top-line growth

Bharat Forge Ltd., the flagship company of Kalyani Group, has announced impressive results for its Q4 and FY2010. It’s standalone revenues in Q4 registered strong growth of 92.3%, up from Rs293 crore to Rs562 crore. The domestic revenues for the quarter grew by 98.9% to Rs343 crore, driven by strong momentum in the Indian CV market while exports grew by 82.8% to Rs220 crore, the company said.
Total Revenue and PBT before exchange Gain/ (Loss) for the combined entity excluding the China JV for the Quarter was Rs924 crore and Rs73 crore as against Rs627 crore and a loss of Rs55 crore in the corresponding quarter previous year, the company said. Baba Kalyani, CMD, Bharat Forge Ltd, said: “The scenario is starting to look quite encouraging for the company. On the auto business we are witnessing strong momentum in the Indian automotive market coupled with clear signs of recovery in the North American CV market.”