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Kalyani Strategic Systems Limited, the defence arm of Bharat Forge Limited, unveiled its new MaRG series

ICICIdirect Research 16 Jun 2026 DISCLAIMER

News: In a press release, Kalyani Strategic Systems Limited, the defence arm of Bharat Forge Limited, unveiled its new MaRG series of 155mm 4x4 Mounted Artillery Guns, marking a major step in India’s indigenous defence manufacturing push. The MaRG platform includes three variants — MaRG 39, MaRG 45, and MaRG 52 — designed for high mobility, rapid deployment, shoot-and-scoot operations, and compatibility with NATO-standard 155mm ammunition. Built on a lightweight 4x4 chassis, the system offers superior manoeuvrability across difficult terrains while reducing logistical burden, strengthening India’s position as an emerging global defence exporter with advanced artillery technology.

View: For Bharat Forge, this expands its high-margin defence business and showcases Indian private-sector capability in developing globally competitive military platforms. The MaRG series can improve export opportunities in Europe, the Middle East, and developing nations looking for cost-effective mobile artillery systems. The company secured new orders worth ₹ 4,814 Crores in FY26 including ₹2,816 crores in Defence. The order book for Defence stood at ₹10,961 crores as of FY26.

Impact: Positive

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