Rabin Ghosh

Mumbai: Bharat Forge is looking increasing contribution from non-automotive business by several percentage points each year to reach about 40% level in four years, chairman and managing director B N Kalyani said on Thursday.

Kalyani said the company is scaling up investment at its greenfield unit in Baramati in Maharashtra by another Rs 150 crore to Rs 500 crore. The unit is a dedicated facility for non-auto-components for aerospace, marine and rail, power, energy, mining and construction equipment and other industries.

The plant would come on stream by June. In a year, it will be scaled up, giving the company incremental annual revenues of Rs 1,000 crore.

“We should close this year with non-auto segment contributing 17-18% to our revenues. Our target is to take it to 40% in four years. A large part of our growth in 2008-09 will come from non auto business,” Kalyani said.

Kalyani said Bharat Forge is in talks with aviation engine manufacturers like GE, Pratt & Whitney, and Rolls Royce as well as aircraft makers like Boeing and Airbus to supply forging components under the offset clause they have with Indian government.

Source : DNA