Bharat Forge shares flat after company's arm inks pact with AM General; here are the details

Kalyani Strategic Systems Ltd (KSSL) has signed a Letter of Intent (LOI) at IDEX 2025 in Abu Dhabi, the company said in a regulatory filing.

This marks the first-ever supply of cannons from an Indian defence manufacturer to the US, a testament to the strengthening bilateral defence cooperation between our two nations, it added.

"It is a testament to our capabilities and a major advancement in our mission to be a world-leading artillery solutions provider. This agreement underscores the trust and confidence that global defence leaders, such as AM General, place in our capabilities," Bharat Forge Chairman & Managing Director Baba Kalyani said.

AM General Executive Vice President John Chadbourne said the Letter of Intent with KSSL represents an important step in expanding the strategic partnership.

"Given KSSL's proven artillery capabilities and our shared commitment to technological innovation, we see tremendous potential in bringing advanced artillery solutions to the US defence forces," he added.

Bharat Forge Q3 FY25 Results

The company reported a 16.38% decline in consolidated net profit at ₹212.78 crore for the third quarter that ended December 31, 2024 (Q3 FY25), impacted by lower revenue.

The company had posted a profit of ₹254.45 crore in the third quarter last fiscal, Bharat Forge Ltd (BFL) said in a regulatory filing.

Reacting to the numbers, shares of Bharat Forge slipped as much as 5.4% to ₹1,044.70 apiece on the NSE.

Revenue from operations in the quarter under review stood at ₹3,475.55 crore as against ₹3,866.4 crore in the corresponding period last fiscal, it added.

Total expenses in the third quarter were lower at ₹3,165.37 crore as compared to ₹3,529 crore in the year-ago period, the company said.

BFL said its board has declared an interim dividend of ₹2.5 per equity share of face value of ₹2 each at the rate of 125%.