Premier engineering concern Bharat Forge has broadened its revenue streams by entering new non-auto segments and markets, resulting in the share of the auto business dropping to 58 per cent in the financial year 2024 (FY24) from 80 per cent (FY07). It is seeing strong traction in the Defence sector. It has set up a team to work on advanced EV components. The diversifications have helped reduce cyclicality.
Bharat Forge’s Q1FY25 revenue growth was driven by defence as other segments saw weak demand. Overseas subsidiaries are showing gradual improvement. The standalone revenue, Ebitda (earnings before interest, taxes, depreciation,
First Published: Aug 09 2024 | 10:35 PM IST
