Bharat Forge Subsidiary Agneyastra Acquires 950 Acres in AP for Defence Manufacturing Hub

5 Sep 2025 , 11:38 AM

Bharat Forge Limited on Thursday said its step-down subsidiary, Agneyastra Energetics Limited, has signed an agreement with Andhra Pradesh Industrial Infrastructure Corporation Ltd (APIIC) to acquire nearly 950 acres of land in Madakasira, Anantapur district.

The land will be used to build a state-of-the-art defence energetics complex, covering a high explosives manufacturing plant, an ammunition filling facility, and a gun propellant unit. The company also plans to keep provisions for future expansion into rocket energetics, missile systems, space launch vehicles, and advanced energetics.

Agneyastra Energetics was incorporated through Kalyani Strategic Systems Ltd, a wholly owned subsidiary of Bharat Forge. The company said this land purchase is a key step in expanding its footprint in the defence sector and aligns with its long-term growth strategy.

For the first quarter, Bharat Forge reported a 10% year-on-year drop in standalone revenue at ₹2,105 crore. The decline was largely attributed to weaker exports. EBITDA fell 12.4% to ₹571 crore. Margins narrowed to 27.1% from 27.9% a year earlier.

As of September 5, 2025 at 11:31 AM IST, Bharat Forge shares are trading at ₹1,134.70, which is a 0.29% gain. Bharat Forge shares dip 29% in the last year, gained 7% in the last six months, gained 1.94% in the previous month.

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