Balu Forge Industries Ltd. Posts Stellar Q2 Results

Balu Forge Industries Ltd. Posts Stellar Q2 Results; PAT Jumps 82 Percent

Company Approves Payment of Interim Dividend

Mumbai, 19 November 2021: BSE listed Balu Forge Industries Ltd. (BSE: 531112) engaged in precision engineering has posted stellar results for the quarter ended 30 September 2021.

Consolidated Quarterly and Half-yearly highlights: For the quarter ended 30 September 2021, the Company saw an 82% jump in PAT (QoQ). The revenues zoomed 49% QoQ to Rs. 7470.73 Lakhs (Q2FY22) from Rs. 5014.68 (Q1FY22). The basic EPS also grew to Rs. 0.95 (Q2FY22). The income growth was at 70.66% YoY.

Earlier this month, the company had also approved payment of Interim dividend of Rs. 0.10 per share for financial year 2021-22.

Balu Forge Industries Ltd had also executed a Leave & License Agreement with Hilton Metal Forging Limited for taking on lease the Hilton’s Factory for a period of five years.

The Company’s in house capability & state of the art automotive engineering enables it to manufacture a large range of components through a spectrum of industries namely Automotive, Agricultural, Industrial, Defense, Marine & the New Energy Sphere. Balu Forge is the only Company to have the capability to manufacture components conforming to the New Emission Regulations & the New Energy Vehicles.

The Company is an avant-garde manufacturer of fully finished/Semi-finished forged crankshafts and other Forged Components having global presence in over 86 Countries & is presently working with 15 Original Equipment Manufacturers around the globe.

“Balu is the supplier of choice of major OEMs not only in India but around the world due to our technological advantage and the highest standards of quality in the industry” said Mr. Jaspal Singh Chandock, Managing Director.

Mr. Jaspal Singh Chandock further added, “The Company has innovation in the heart of its foundation & the next level of growth is expected from the New Energy Vertical & supplies to the Defense Industry. We are working closely with a number of OEMs globally to develop Drivetrain & Powertrain solutions for BEVs & PHEVs. This is a strategy the Company has engaged in actively since 2017 & aims to keep ahead of the curve to adapt to the changing mobility sphere. In addition to the same the area of Defense is also a key component in the coming years as we enhance our presence in Defense Industries keeping in line with the Govt. of India initiative of ‘Atmanirbhar Bharat.”