Balu Forge Industries Ltd. Announces Impressive Results; Yearly PAT Rises to Rs. 6.60 Cr

Mumbai (Maharashtra) [India], July 13: BSE listed Balu Forge Industries Ltd. (BSE: 531112) engaged in the field of precision engineering has announced impressive results for quarter and year ended 31 March 2021.

For the quarter ended 31 March 2021, the company saw a 152% rise in PAT (QoQ) which rose from 149.42 Lakhs (Q3FY21) to Rs. 376.88 Lakhs (Q4FY21). For the year ended 31 March 2021, the company saw massive growth in both revenues and PAT. The Revenue from Operation rose to Rs. 142.09 Crores (FY21). The Profit after Tax (PAT) saw a huge jump and rose to Rs. 6.60 Crores (FY21).

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 now an avant-garde manufacturer of fully finished/Semi-finished forged crankshafts and other Forged Components having a 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.”

Business

Indian Potash Limited’s Dr. Parvinder Singh Gahlaut supports Krishi Vigyan Kendras

New Delhi [India], July 4: An industry is as empowered as its people. The same goes for agriculture in India. Time and again several measures have been introduced for the development and empowerment of people running the fields, which have in turn shown progress in the overall industry as well. Dr. Parvinder Singh Gahlaut, the super […]

Read More
Business

Fourfront Limited Files DRHP On BSE SME For IPO

Mumbai (Maharashtra) [India], July 4: Fourfront Limited (Fourfront, the Company), an automotive component manufacturer with design capabilities for electromechanical and power electronics products for the EV and industrial automotive sectors, has announced plans to enter the primary market with an IPO. The company has filed its Draft Red Herring Prospectus with BSE SME in preparation […]

Read More
Business

HOAC FOODS INDIA LIMITED Raises ₹1,000.00 Lakhs in Qualified Institutional Placement (QIP)

New Delhi [India], July 4: HOAC FOODS INDIA LIMITED, a primarily engaged in the manufacturing and distribution of high-quality natural food products under the brand name “HARIOM”, offering a diverse range that includes chakki atta (wheat flour), organic herbs and spices, unpolished pulses, grains, and cold-pressed yellow mustard oil, has successfully raised ₹1,000.00 Lakhs through its first-ever […]

Read More