Bharat Forge Benefits from Indian Infrastructural Development
Bharat Forge, India’s largest metal forging company, has been implementing a strategy to become less dependent on automotive work. So far it seems to be working. In the last two quarters the company has posted double-digit earnings growth on the strength of gains in its non-automotive business, fueled in part by infrastructural investment by the Indian government. Currently, Bharat Forge’s non-automotive business is less than one-third of total revenues, which the company is trying to increase to 50% or more in the next two years.