Tonnage andTechnology
Annual Report 2022-23
HIGHLIGHTS OF THE YEAR
Reflecting on a year of progress and achievements
Delivered record performance
₹12,910 Crore
Consolidated revenues
₹7,573 Crore
Standalone revenues
₹4,461 Crore
Export revenues
Message from the Chairman & Managing Director
B N Kalyani
Chairman and Managing Director
Dear Shareholders,
It gives me immense pleasure to address all of you and provide a review of the year’s performance and our progress towards a stronger tomorrow. At the outset, I thank each one of you for the continued encouragement and support. FY 2023 has been a challenging year with continued geo-political tension, impact of which was visible in the higher energy and food prices, elevated inflation across all nations and supply chain related tightness. Despite this, for the Company, FY 2023 was a year of progress on many fronts. Right from the acquisition of JS Autocast providing entry into the high potential industrial casting sector, to securing maiden exports orders in the defence vertical, and improving our ESG scores, we saw it all transpire.
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ABOUT BHARAT FORGE
A globally leading technology and innovation-led engineering company
Bharat Forge, today, is a truly diversified and global company, engineering critical and complex solutions for automotive and industrial OEMs.
Numbers that Define Us
50+
Years of manufacturing experience
30+
Years of servicing export markets
USD 4.37 Billion
Market Capitalization
7,000+
Global Employees
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Vision 2030
M U L T I P L E P A T E N T S
E V O L V E D T E C H N O L O G Y
P E O P L E P R O C E S S I N N O V A T I O N
N E W A L L O Y S E X P L O R E D
D I V E R S E S E C T O R S
FINANCIAL CAPITAL
Transformational strides underpinned by firm financials
Financial Highlights
INTELLECTUAL CAPITAL
Promoting an environment that fosters innovation and excellence
Innovation is at the core of our operations. Our intellectual capital fuels our ambition of developing smart and innovative engineering products to respond to customers’ evolving needs and create long-term value.
Key innovations and Product Development
290
R&D employee strength
84
Total Patents filed till date
21
Total Patents granted till date
MANUFACTURED CAPITAL
Powering a self-reliant India with manufacturing excellence
With the world evolving rapidly and India stepping up to make up for the world, we, at Bharat Forge, are well-positioned to deliver. We are consistently investing in augmenting our capacities through both organic and inorganic routes to achieve excellence in manufacturing and reinforce our leadership position in the industry.
HUMAN CAPITAL
Fostering a high-performance culture
The skills, experience and diverse perspectives that our people bring in are key to our long-term goals. We strive to create an extraordinary work environment that empowers them to unlock potential and encourages them to deliver their best.
Key Highlights FY 2023
2,491
Employees trained on health and safety/ wellness measures
1,756
Employees provided skill upgradation training
SOCIAL AND RELATIONSHIP CAPITAL
Building strong customer relationships
Our relationships with customers are built on mutual trust and respect and are the cornerstones for our long-term growth. We are proactively investing in capability building and collaborative working to cater their evolving requirements with better products and technologies while being committed to timely delivery and high standards of quality.
NATURAL CAPITAL
Contributing to sustainable development
We are cognizant of our business’ impacts on the environment and on communities. Towards this, we deploy the most stringent systems and processes for monitoring our environmental footprint and undertake measures for proper waste and water management, prudent resource allocation, improve energy efficiency, and thereby contribute to a circular economy.
