Bharat Forge, along with its subsidiary, BF Industrial Solutions, recently announced that it has successfully completed the previously announced acquisition of JS Autocast Foundry India Private Limited. The enterprise value of the transaction is INR 489.63 crore, the forging giant said in a release.
This acquisition significantly enhances our capabilities and addressable market segments both domestically and in export markets, especially in niche industrial segments. This transaction also brings with it significant synergies that particularly strengthen Bharat Forge’s positioning as a preferred ‘Industrial Solutions’ provider.
Recently, JSA has been granted environmental clearance to expand its existing foundry operations at SIPCOT from 21,768 tonnes a year to 72,000 tonnes a year. This coupled with 28,800 tonne annual capacity foundry at Coimbatore, provides a significant growth platform for the company. According to the company, JSA will focus on enhancing its product portfolio from the 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’ utilizing 100% renewable energy and raw material which is predominantly recycled scrap. In FY22, despite a challenging and volatile environment, JSA recorded revenue INR 416.87 crore, growth of 59.5% compared to FY21.