- 10 Nov 2022
- ICICIdirect Research
BHARAT FORGE WINS EXPORT ORDER IN DEFENCE SECTOR
BHARATFORG - 1208 Change: 2.25 (0.19 %)News:
In a regulatory exchange filing, Bharat Forge has informed exchanges that its wholly owned subsidiary i.e. Kalyani Strategic Systems has been awarded an export order for a 155mm Artillery Gun platform to be executed over a three-year time frame. The total value of the order is pegged at US$155.5 million (~Rs 1,250 crore)
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This comes as a positive development for the company and would aid the company’s strategy to grow its defence business by 3x in the next three to five years. Currently, the company operates in two segments (i) armoured vehicle (clocking ~Rs 200 crore of topline annually), (ii) spares (clocking ~Rs 300- 350 crore of revenue annually). This is a big positive development for the company's defence division and firmly establishes its capabilities in this domain
Impact:
Positive