Business

Bharat Forge completes acquisition of JS Autocast


Bharat Forge, along with its subsidiary, BF Industrial Solutions has successfully completed acquisition of JS Autocast Foundry India for a total transaction valued at Rs 489.63 crore.

It was in February that Bharat Forge announced its plans to acquire of JS Auto. The move will significantly enhance its capabilities and addressable market segments both domestically and in export markets, especially in niche industrial segments. This will also bring significant synergies that particularly strengthens Bharat Forge’s position as a preferred ‘Industrial Solutions’ provider.

Recently, JSA has been granted Environmental Clearance to expand its existing foundry operations at Sipcot from 21,768 TPA to 72,000 TPA. This coupled with 28,800 TPA foundry capacity at Coimbatore, will provide a significant growth platform.

Going forward, JSA will focus on enhancing its product portfolio from current small castings to address opportunities in medium sized castings for both renewable and other industrial applications.

In the next 3 years, JSA will start manufacturing ‘green castings’ utilising 100% renewable energy and raw material which is predominantly recycled scrap. In terms of financial performance, despite a challenging and volatile environment, JSA reported revenue of Rs 416.87 crore in FY2022, a YoY growth of 59.5 percent.




Source link

Related Articles