Balu Forge Industries will hold a meeting of the Board of Directors of the Company on 30 July 2024.Powered by Capital Market - Live News

Balu Forge Industries announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 9 August 2024 .Powered by Capital Market - Live News

Balu Forge Industries (BFIL) has announced a fund-raise of Rs. 496.80 crore in a combination of preferential issue of equity shares and fully convertible warrants to strengthen its manufacturing capacity and capability to play its role in making India atmanirbhar or self-reliant in defence, railways and aerospace sector and turning the vision of Viksit Bharat into reality. The board of BFIL has approved an issue of 45,00,000 equity shares of face value of Rs. 10 each at a premium price of Rs. 350 per equity share aggregating up to Rs. 162,00,00,000 by way of preferential issue to the non-promoter public category investors. The board has also approved an issue of 63,00,000 fully convertible warrants to the non-promoter public category investors and 30,00,000 fully convertible warrants to the promoter category at an issue price of Rs.360 per warrant. BFIL will majorly deploy a majority of the funds to undertake special R&D initiatives to further enhance the special engineering capability in the field of defence and aerospace components. The company will further add a new capability in the form of a Direct Drive Screw Press Line capable of producing aerospace and high precision components and SPM line for defence production. The product mix includes an extensive large portfolio covering railways, defence and aerospace industries. Powered by Capital Market - Live News

Balu Forge Industries will hold a meeting of the Board of Directors of the Company on 16 July 2024.Powered by Capital Market - Live News

Net profit of Balu Forge Industries rose 85.56% to Rs 28.28 crore in the quarter ended March 2024 as against Rs 15.24 crore during the previous quarter ended March 2023. Sales rose 30.21% to Rs 161.17 crore in the quarter ended March 2024 as against Rs 123.78 crore during the previous quarter ended March 2023.For the full year,net profit rose 140.74% to Rs 93.67 crore in the year ended March 2024 as against Rs 38.91 crore during the previous year ended March 2023. Sales rose 71.40% to Rs 559.86 crore in the year ended March 2024 as against Rs 326.64 crore during the previous year ended March 2023. ParticularsQuarter EndedYear Ended�Mar. 2024Mar. 2023% Var.Mar. 2024Mar. 2023% Var. Sales161.17123.78 30 559.86326.64 71 OPM %21.3416.70 -21.2815.24 - PBDT35.2417.70 99 115.9051.89 123 PBT34.6117.27 100 113.8450.57 125 NP28.2815.24 86 93.6738.91 141 Powered by Capital Market - Live News