Bharat Forge Ltd announced that its step-down subsidiary, Agneyastra Energetics Limited, has secured approximately 949.65 acres of land in Madakasira, located in Anantapur district, Andhra Pradesh, through an agreement with the Andhra Pradesh Industrial Infrastructure Corporation Ltd (APIIC). The site will be developed into a comprehensive defence manufacturing complex, with facilities dedicated to high explosives production, ammunition filling, and gun propellant manufacturing. Future phases are expected to include capabilities for rocket and missile energetics, space launch vehicle components, and advanced energetic materials.
Agneyastra Energetics was formed under Kalyani Strategic Systems Ltd, a wholly owned arm of Bharat Forge. The land acquisition marks a strategic step in expanding the group’s footprint in the defence and aerospace sector, aligned with India’s growing emphasis on indigenous defence manufacturing.
Bharat Forge reported a 10% year-on-year decline in standalone revenue for the first quarter, reaching ₹2,105 crore, slightly below the ₹2,173 crore. The revenue dip was primarily attributed to weaker export performance.
Quarterly EBITDA stood at ₹571 crore, down 12.4% from the same period last year and below the expected ₹616 crore. The EBITDA margin narrowed to 27.1%, compared to 27.9% in the year-ago period and below the consensus estimate of 28%.
Bharat Forge Limited (BFL), headquartered in Pune, is a leading Indian multinational known for its advanced, technology-led manufacturing of high-performance and safety-critical components. Serving a wide range of industries—including automotive, power, oil & gas, construction, mining, railways, marine, defence, and aerospace—BFL delivers innovative solutions tailored to global needs.
With operations spread across five countries, BFL boasts one of the most comprehensive metallurgical knowledge bases in the industry. The company offers end-to-end capabilities, from concept development and product design to engineering, manufacturing, testing, and validation, supporting its globally located marquee clients with complete supply solutions.
