Press Release

Balu Forge Industries Ltd Enhances Forging Production Capacity with Recent Acquisition

Mumbai (Maharashtra) [India], May 22: Balu Forge Industries Ltd takes one more leap to accomplish one of the major milestones. As a part of the larger mission to be among the prominent global players in value added critical forging & engineering segment, we are delighted to announce that Balu Forge Industries Ltd has taken up major expansion by setting up an advanced Forging Capacity of 72,000 Tons annually. Besides increase in the capacity, it enhances our R & D capability by far and with consistent to our vision & business plan to move away from pure forging company to become a value added Specialized Critical Engineering product company.

Balu Forge Industries Limited (BFIL), a prominent precision engineering company engaged in manufacturing of crankshafts & forged components, is pleased to announce the successful acquisition of three forging lines in a combination of Hammers & Presses capable of producing 72,000 tonnes p.a. of heavy forged products. These newly acquired forging lines will seamlessly integrate with the precision engineering expansion taking place at our upcoming manufacturing campus in Belagavi, Karnataka thereby making BFIL an integrated one stop solution provider for advanced machining solutions for critical industries viz. Railways, Defence, Oil & Gas, Mining, Aerospace, Aluminium & other critical precision industries globally.

BFIL is pleased to announce its recent acquisition of three state of the art forging production lines, with a capacity of producing 72,000 tons of forged products. This comprehensive setup includes 16-ton closed die forging hammer, 10-ton closed die forging hammer 8,000T capacity mechanical press this setup will be fully automated with latest technology LIKE ANTIVIBRATION SYSTEM PRESS LINE WITH ROBOTIC HANDLING COMPLINES WITH INDUSTRY 4.0 MODEL all of which will be installed in our upcoming greenfield project at Belagavi, Karnataka.

The new forging unit will be seamlessly integrated with the recently acquired precision machining unit of Mercedes Benz. This will further strengthen our product engineering & increase our precision product offerings to global major’s operating in critical engineering & safety components industry with end-to- end solution under one roof.

This forging unit includes a 16 Ton closed-die forging hammer, ranking amongst the largest in the country and capable of producing forgings up to 800-900 kgs. This capacity will be further enhanced with a 10 Ton closed-die forging hammer line and 8,000T capacity mechanical forging press. With these facilities we are advancing our presence in engineering critical industries viz. Oil and Gas, Aerospace, Defence, Railways, Mining, Aluminium and Auto part manufacturing and many other critical industries.

This acquisition not only strengthens & expands our critical engineering products portfolio but also enhanced R&D capabilities in alloy mixing & metal combinations. It provides us unique strength in creating products from different alloys based of Aluminum to Titanium which shall enable BIFL to expand its product offering to major growth industries for critical engineering products and to further capture the OEM market that we cater to across North America, Europe, Asia, and the Middle East regions.

Advantages of transforming into a fully integrated precision machining and forging company

Commenting on the announcement, Trimaan Chandock, Executive Director of BFIL stated “I am delighted to share with one each of you that we have successfully concluded this expansion which opens new doors for us in critical & precision engineering space.

This superlative acquisition also provides level playing footing with all global major in critical engineering product space and equally compete with them at global level in terms of precision, product & pricing.

These recent three acquisitions are not only value accretive in terms of business financials but also a start of the new chapter for Balu Forge Industries Ltd. These newly acquired production lines fantastically complements the existing precision machining capacity of 32,000 tons, positioning BFIL as a fully integrated company.

This strategic integration of precision/special engineering and forging will not only bring margin enhancement, but increased R & D capability addressing end-to-end needs & solutions for a substantial global clientele. Apart from the manufacturing prowess, the new facility once commercialized, will create large scale employment opportunities in the area and empower local societies around the plant. The team strength is expected to reach to 1,000+ employees (including contracted workforce) growing continuously from 375 in FY23 to 525 currently

I would especially like to mention that all these acquisitions would not have been possible without my team members at BFIL. I am really thankful to each one at BFIL. I am sure we shall continue to take more such strategic initiatives which will be in line with our vision & business plan, incremental to BIFL’s Growth.”

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