Balu Forge Industries Ltd posts Excellent Results; Yearly PAT Jumps 300%
Mumbai, 24 May 2022: BSE listed Balu Forge Industries Ltd. (BSE: 531112) engaged in precision engineering has posted stellar results for the quarter & year ended 31st March 2022.
Standalone Quarterly and Yearly highlights:
For the quarter ended 31 March 2022, the revenue rose 80% YoY to Rs. 8748.86 Lakhs (Q4FY22) from Rs. 4857.25 Lakhs (Q4FY21), and the Company saw an 128% jump in PAT (YoY).
For year ended 31 March 2022, the Company saw massive improvements in PAT and revenues
saw a multifold jump. The revenues zoomed 99% YoY to Rs. 29358.42 Lakhs (FY22) from Rs.
14733.29 Lakhs (FY21) and the Company saw a 300% jump in PAT (YoY), which rose to Rs.
3043.91 Lakhs (FY22).
Balu Forge Industries Ltd (BFIL) is in the process of commissioning the precision machining
line of the Mercedes Benz Truck Factory which was recently acquired from Mannheim, Germany.
This has enabled the company to further extend the expanse of the product portfolio & capability
to a much larger customer base. The company aims to commission the new production
line & initiate commercial orders to the Class 7 & Class 8 Commercial Vehicle Industry from
The Company’s in-house capability & state of the art precision engineering enables it to manufacture
a large range of components through a spectrum of industries namely Automotive, Agricultural, Industrial, Defense, Railways Marine & the New Energy Sphere. BFIL is the only Company
to have the capability to manufacture components conforming to the New Emission Regulations
& the New Energy Vehicles.
Mr. Jaspal Singh Chandock, Chairman & Managing Director further added, “We have surpassed
our growth expectations despite of the uncertain global environment & we will continue on this
growth path through FY2022/2023 with a strong & consistent order book. Our key growth drivers
namely orders from the Defence Industry, Railways in a Middle Eastern Country & the robust
growth in the agricultural demand of Africa in addition to the Class 7 & Class 8 Commercial
Vehicle Industry will further ensure a robust growth outlook. The company is on a very aggressive
and sustainable growth path of 100% YOY due to a wide geographical & Industrial application
of our products.”
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