Balu Forge Industries Ltd. announces impressive results; yearly PAT rises to Rs. 6.60 Cr
Jul 13, 2021
Mumbai (Maharashtra) [India], July 13 (ANI/PNN): 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 Rs. 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 Jaspal Singh Chandock, Managing Director.
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."
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