Kalyani Powertrain, a fully owned subsidiary of Bharat Forge, opened the company’s first e-bike production plant at MIDC, Chakan.
The factory, whose production capability is scalable to 1 lakh units annually, will assemble E-bikes for Tork Motors, a company that is 64.29 percent owned by Kalyani Powertrain.
Construction, mining, oil & gas, aerospace, locomotives, marine, energy (from both renewable and non-renewable sources), general engineering, and automobiles (commercial and passenger vehicles) are just a few of the industries for which Bharat Forge (BFL) produces a wide range of critical and safety components.
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In comparison to Q3 FY22, the company recorded a 14.3% decline in standalone net profit, falling to Rs 289.2 crore from Rs 337.4 crore. During the quarter, total income increased by 21.8% YoY to Rs 1,952.1 crore.
Bharat Forge’s shares increased on the NYSE by 0.38% to Rs 837.