Bharat Forge Limited has informed the Exchange about Incorporation
BHARATFORG · price
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Bharat Forge's wholly-owned subsidiary Kalyani Strategic Systems Limited (KSSL) has incorporated a joint venture company called Aegis Advanced Systems SL in Spain on July 17, 2025. The JV has been formed with Spain-based Duma Engineering Group S.L. (DUMA) to develop defence-related technology, product platforms and solutions targeting Indian, European and select export markets. KSSL holds a 90% stake (EUR 2,700 in cash) while DUMA holds the remaining 10%, making Aegis a step-down subsidiary of Bharat Forge. The newly incorporated entity has a total paid-up capital of EUR 3,000 and currently has no turnover as it is freshly set up. The filing confirms that promoters have no interest in the new entity and it is not a related party transaction.
This expands Bharat Forge's defence footprint into Europe through a Spanish JV, supporting its strategic push into defence technology and international markets. The move is incremental and cash-funded at a small size, so near-term financial impact is limited, but it strengthens the long-term defence growth narrative for shareholders.