In March 2023, the Ministry of Defence, Government of India, had accorded the Acceptance of Necessity (AoN) for procurement of the 155mm/52cal Advanced Towed Artillery Gun System (ATAGS) along with the Gun Towing Vehicles (GTVs) for the Indian Army. After completion of due technical evaluation process and commercial bids opening, the contract negotiation procedure between Bharat Forge and the Indian Ministry of Defence is currently underway. The contract negotiation procedure is expected to conclude before the end of the current financial year 2024-25.Powered by Capital Market - Live News

Net profit of Bharat Forge rose 7.20% to Rs 243.59 crore in the quarter ended September 2024 as against Rs 227.23 crore during the previous quarter ended September 2023. Sales declined 2.27% to Rs 3688.51 crore in the quarter ended September 2024 as against Rs 3774.19 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales3688.513774.19 -2 OPM %17.5316.47 - PBDT598.52550.09 9 PBT385.18338.76 14 NP243.59227.23 7 Powered by Capital Market - Live News

The Board of Bharat Forge at its meeting held on 14 November 2024 has approved the following change in senior management:(a) Krishnan Iyer - President and Chief Operational Officer (COO) of Closed Die Forging Division (CDFD) is designated as SMP w.e.f 14 November 2024.(b) Srinivasu Malladi - Vice President Human Resources (HR) is designated as SMP w.e.f. 14 November 2024.(c) Resignation of Atul Jagtap as Vice President � Materials with effect from 24 November 2024Powered by Capital Market - Live News

Bharat Forge will hold a meeting of the Board of Directors of the Company on 14 November 2024Powered by Capital Market - Live News

Bharat Forge has entered into a definitive agreement to acquire AAM India Manufacturing Corporation (AAMIMCPL), a subsidiary of American Axle & Manufacturing Holdings, Inc. (AAM), (NYSE: AXL), at an enterprise value of Rs. 544.53 crore, subject to closing adjustments. Established in 2008, AAMIMCPL is a leading manufacturer of axles for light, medium and heavy-duty commercial trucks and passenger buses in India. With this transaction, the company will acquire commercial vehicles axle business of AAMIMCPL in Pune (India) and Chennai (India) along with the Pune Engineering and Development Center. The transaction is subject to approval from the Competition Commission of India (CCI) and will close only after receiving the CCI`s approval and upon fulfilment of other customary closing conditions. Powered by Capital Market - Live News