Bharat Forge Ltd. Business Report FY ended Mar. 2014
Financial Overview-The Company's consolidated sales in the FY ended March 31, 2014 increased 30.0% over the previous year to INR 67,161 million. Factors contributing to the increase in sales include an improvement in exports from the Company's standalone operations and the initial generation of revenue from the Company's Alstom joint venture.
-The Company's EBITDA also grew 29.8% over the previous year to INR 10,271 million. The increase in earnings was caused by improvement in the profitability of the Company's standalone operations and in its European operations.
Divestiture of joint venture in China
-The Company announced that Bharat Forge Hongkong Limited, its indirect subsidiary, has divested its 51.85% stake in its Chinese JV operations, FAW Bharat Forge (Changchun) Company Limited to its joint venture partner, China FAW Corporation Limited. China FAW acquired the Company's stake for USD 28.208 million (INR 1.75 billion). (From a press release on January 13, 2014)
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|FY ended Mar. 31, 2014||FY ended Mar. 31, 2013||FY ended Mar. 31, 2012|
-R&D activities which the Company focused on in the FY ended March 31, 2014 include the following
- Optimization of crankshaft design for better strength to weight ratio
- Enhancement of fatigue strength
- Optimization of die design to improve material yield and forging load
- Establishment of ring rolling simulation capabilities