The company’s energy business, which includes its data centre-related opportunity, is another area where the management sees significant room for expansion
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Bharat Forge is betting that a clutch of newer businesses — from aerospace and semiconductor components to energy and defence energetics — will drive its next leg of growth. The company expects several of these businesses to scale sharply over the next two to four years.The Pune-based engineering company expects its aerospace business, which currently generates about ₹400 crore in revenue, to double in size over the next couple of years, while its semiconductor business is targeting $30-40 million in organic revenue over the same period.“We are starting to see many of our businesses hit their stride,” said Amit Kalyani, Vice-Chairman and Joint MD of the company in an earnings call on Monday. The aerospace business is beginning to make a meaningful contribution to the company’s overall business and will expand significantly as new manufacturing facilities come online, he added.Fresh fundraiseBharat Forge is also ramping up its semiconductor operations. The company has already secured business worth “double-digit million” and is setting up additional facilities, particularly for machining, to support further growth, said Kalyani. The company is looking to back this expansion with up to ₹2,500 crore of fresh capital, with the proposed fundraise earmarked for capex growth in large engines, power generation, semiconductor components, aerospace, and defence energetics.The planned investments are expected to be completed over the next 18 months, the Joint MD said, adding that the projects are expected to deliver high capital-output ratios and good margins.Doubling energy businessThe company’s energy business, which includes its data centre-related opportunity, is another area where the management sees significant room for expansion. The business is expected to double over the next four years, said Subodh Tandale, Executive Director, with most of its long-term contracts already in place and the company now focused on adding capacity. “We have a very strong global position on this,” he added.The expansion comes as Bharat Forge looks to diversify its traditional dependence on forgings and build larger businesses in higher-growth segments. The management expects the second half of FY27 to be stronger, provided there are no fresh major geopolitical disruptions or supply-chain shocks.Published on August 10, 2026
