Bharat Forge Limited reported mixed financial results for the quarter ended September 30, 2025, posting a decline in revenue while improving profitability margins.
Financial Performance
The company’s standalone net sales for Q2 FY26 stood at ₹1,950 crore, down 13% year-on-year and 7.5% quarter-on-quarter. Total tonnage fell 12% year-on-year to 56.5 kt. Despite lower sales, Bharat Forge improved its EBITDA margin to 28.3%, up 50 basis points year-on-year and 110 basis points sequentially, supported by a better product mix and cost management.
Defence Contract Win
Bharat Forge’s wholly-owned subsidiary, Kalyani Strategic Systems Ltd (KSSL), secured defence contracts worth over ₹250 crore from the Indian Ministry of Defence for the supply of underwater systems. The contracts were signed on November 10, 2025, with deliveries scheduled within one year under Fast Track procurement norms.
KSSL has developed capabilities in unmanned marine systems and has previously supplied autonomous underwater vehicles currently in use by the Indian Navy. The new order strengthens KSSL’s position in the underwater systems and naval equipment segment.
Company Statement
A company spokesperson said, “We remain committed to ensuring timely delivery of advanced underwater solutions. The underwater domain continues to be a key focus area for KSSL in alignment with the Indian Navy’s mission-critical requirements.”
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