BHARAT FORGE – this forging isn’t counterfeit : IIPM

IIPM Business & Economy
India might still be really far from being the largest car manufacturing hub, but it definitely is the numero uno when it comes to the auto ancillary business. And the credit indisputably goes to the world’s number two forging company – Bharat Forge, incorporated in 1961. But till as recently as 2002, the company used to obtain over 90% of its businesses from a single entity, and had a solitary product line. Today it caters to a diverse portfolio – from diesel engines to passenger car segments – and has now established itself as a full fl edged engineering enterprise that thrives on technological superiority.

It was in the 1990s when India’s commercial-vehicle market was going through a rough phase that Baba Kalyani, the Chairman, decided to go for the big leap. Baba, an engineer from MIT, transformed Bharat Forge into a global player by acquisitions. Last year, it established its presence in the crucial market of China by acquiring FAW Corporation. Since March 31, 2005, when its sales touched $270 million, Bharat Forge has been marked by stunning earnings, and has seen its stock delivering astonishing returns of over 765% till date. Its stock has also seen a surge of 29 times in price earning multiples. A benchmark of the highest order, this forging firm!

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Source :- IIPM Editorial, 2006

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