Balu Forge Industries Ltd. (BSE: 531112, NSE: BALUFORGE) (BFIL), a prominent precision engineering company engaged in manufacturing of crankshafts & forged components, has
announced that it’s board will meet on July 16th , 2024, to consider the proposal for fund raising by way of preferential issue / private placement of securities, subject to such regulatory/statutory approvals as may be required, including the approval of shareholders of the Company.
Earlier, the company announced the successful acquisition of three forging lines in a combination of Hammers & Presses capable of producing 72,000 tonnes p.a. of heavy forged products. These newly acquired forging lines will seamlessly integrate with the precision engineering expansion taking place at our upcoming manufacturing campus in Belagavi, Karnataka thereby making BFIL an integrated one stop solution provider for advanced machining solutions for critical industries viz. Railways, Defence, Oil & Gas, Mining, Aerospace, Defence, Aluminium & other critical precision industries globally.
This comprehensive setup includes 16-ton closed die forging hammer, 10-ton closed die forging hammer and 8,000T capacity mechanical press. This setup will be fully automated with latest technology LIKE ANTIVIBRATION SYSTEM PRESS LINE WITH ROBOTIC HANDLING COMPLINES WITH INDUSTRY 4.0 MODEL all of which will be installed in the company’s upcoming greenfield project at Belagavi, Karnataka.
The new forging unit will be seamlessly integrated with the recently acquired precision machining unit of Mercedes Benz. This will further strengthen the company’s product engineering & increase its precision product offerings to global major’s operating in critical engineering & safety components industry with end-to-end solution under one roof.
For FY24, the company registered robust revenue growth of 71.40% and revenue from operations stood at Rs. 5,598.56 Mn in FY24 compared to Rs. 3,266.39 Mn in FY23. EBITDA grew by 139.31% and margins expanded by 604 bps from 15.24% in FY23 to 21.28% in FY24. PAT margins improved by 482 bps from 11.91% in FY23 to 16.73% in FY24.
Balu Forge Industries Ltd (BFIL) was Incorporated in 1989 & is engaged in the manufacturing of fully finished and semi-finished crankshafts and Forged Components. It has the capacity to manufacture components conforming to both New Emission Regulations & the New Energy Vehicles. The company has a fully Integrated Forging & Machining production infrastructure with a large product portfolio ranging from 1 Kg to 900 Kgs. The Company has a 80+ global distribution networks and operates through both domestic and export segments. The customers include some of the renowned suppliers and manufacturers of light vehicles, agricultural equipment, power generation equipment, commercial vehicles, off-highway vehicles, ships, locomotives, and many others. The company also caters to the defence, oil & gas, railway, marine amongst other industries.