By IANS
Mumbai : Bharat Forge Ltd (BFL), the flagship company of the $2.1-billion Kalyani Group and a leading global supplier of forged and machined components, notched a 6 percent growth in revenue, reaching Rs.10.99 billion.
BFL Chairman and Managing Director Baba N. Kalyani said that the last few quarters have been challenging for the Indian auto industry, particularly companies which are large exporters, due to the double effect of Indian market slowdown coupled with the drastic reduction in the US market.
As a part of the company’s foray in the capital goods sector, BFL will invest in a joint venture with power utility NTPC Ltd for manufacturing equipments for the power and capital goods sector.
BFL will have majority stake in the joint venture, Kalyani said.