Bharat Forge gains after acquiring AAM India manufacturing

Bharat Forge rose 1.95% to Rs 1,309.40 after the company acquired AAM India Manufacturing (AAMIMCPL) at an equity value of Rs 746.46 crore.

The equity value includes cash on books of the acquired entity of Rs 189.48 crore. This cash is available for addressing future growth opportunities.

The company said the acquisition will enable to complement its component offerings with products solutions to OEMs in India & Globally.

On 17 October 2024, the company had entered into a share purchase agreement to acquire 100% stake in AAM India Manufacturing. As part of the transaction, Bharat Forge will take over AAMIMCPL?s commercial vehicle (CV) axle business, including its manufacturing facilities in Pune and Chennai, as well as the Pune Engineering & Development Centre.

Bharat Forge (BFL), a Pune-based Indian multinational, is a technology driven global leader in providing high performance, innovative safety critical components and solutions for several sectors including automotive, power, oil and gas, construction & mining, rail, marine, defense and aerospace.

The company?s consolidated net profit jumped 19.5% to Rs 282 crore despite a 7.5% decline in net sales to Rs 3,852.60 crore in Q4 FY25 over Q4 FY24.

Powered by Capital Market - Live News