Does anyone know the financials of tork motors? I tried to find but couldnât get more info, their official site has only marketing infoâŚ
Bharat Forge to cut down on capex but increase investment in EV companies
Bharat Forge, the countryâs largest forging company, will reduce capital expenditure (capex) in India this year, and will instead focus on sweating its assets and make select investments in electric technology companies
There is also an additional investment of 55 million euros (Rs 430 crore) for a new aluminum forging plant in the eastern part of Germany.
âWe are going to set up aluminum forging plant in the US also, location is yet to be finalised because we are looking at all the options where we can get the best overall deal, but that we will announce by October, November of this yearâ, added Kalyani.
âWe have made so far 10 million pounds in Tevva and about Rs 30 crore in Tork Motorcycles. We may have to put in maybe somewhere in the region of between 3 million pounds and 5 million pounds in Tevva going forwardâ, added Kalyani.
From technical levels this is looking very interesting at 400 which is 50% fib level. Last time when it corrected 50% fib it went up more than twice.
Any significant new defense orders for bharat forge can lead to a huge re-rating for this company.
With government restricting the import of Defence items and focusing on Indian products, Bharat forge is in a sweet spot and is ready for the opportunity.
Conference call takeaways
ďź Outlook is positive with signs of improvement in CV export market especially US.
ďź Company doesnât see any significant business in O&G, would see material reduction
YoY; fracking rigs are down to 150 from a peak of 900
ďź Company is witnessing improved potential and performance in renewables for both
domestic and export markets
ďź Thereâs some delay in defense business on account of covid, should resume soon
ďź Expect continued growth in PV (domestic and export), substantial growth in FY22/23
ďź Currently supplying products to Wind energy and Marine segment with revenue of Rs
500mn, could triple in one year
ďł Full year capex to be Rs 4.5bn
ďł Debt position is stable with long term debt, working capital debt and cash of Rs 23bn, Rs
13bn and Rs 24bn respectively
ďź Looking at inorganic opportunity beyond metal forging but where can we use our
expertise or with customer complementality
The firm has been continuously guiding for lower Capex, however, Capex remains elevated even though revenue growth is muted/degrowth (for whatever reason).
So the question remains whether the Capexâs are for growth or pure maintainence Capex and should be discounted for as cost of business. (Iâm talking about it at a consolidated level because in my opinion a standalone analysis is not justified as half the revenues are from subsidiaries/JVs/Associates).
I like what the firm is doing in terms of trying various sectors out. However, the question remains whether the free cash flow is justifying these valuations?
Tork Motors has set Jan 26th as the release date for itâs T6X aka Kratos electric bike at an estimated price of 1.5L, with Bharat Forge having 60.66% stake in Tork motors this release is worth tracking.
DRDO chief says ATAGs final trials to start soon:
https://idrw.org/india-has-advanced-towed-artillery-gun-system-drdo/
Does it helps Bharat Forge, Please comment.
Disclaimer: not invested yet.
Pune-based Bharat Forge Limited announced on November 9 that it has won a $155.50mn export order for one of its 155mm artillery gun platform to be executed in three years.
âWe are pleased to inform that Kalyani Strategic Systems Limited, a wholly owned subsidiary of the Company, has been awarded an export order for a 155mm Artillery Gun platform to be executed over a 3-year time frame. The total value of the order is $155.50 Mln,â the company informed the Bombay Stock Exchange (BSE) in a notification.
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Army to get more M4 armoured vehicles, with Spike missiles
âThis order, to a non-conflict zone, is a great testament to the Government of Indiaâs AatmaNirbhar Bharat agenda and its sustained push to promote exports of Indigenously Designed Developed and Manufactured (IDDM) advanced defence platforms from India,â the statement added.
Bharat Forge which has diversified heavily into defence manufacturing in the last few years, has developed a range of products including a range of artillery guns. While it has sold 60 of its Kalyani-M4 armoured vehicles to the Indian Army with 30 more on order, it is yet to get a domestic order for its artillery guns.
At the recent DefExpo in Gujarat, there was lot of interest in the artillery guns from South East Asia and Africa. Company officials said at the Expo that they have secured export orders for the Kalyani-M4 vehicles.
Pune-based Bharat Forge Limited announced on November 9 that it has won a $155.50mn export order for one of its 155mm artillery gun platform to be executed in three years.
âWe are pleased to inform that Kalyani Strategic Systems Limited, a wholly owned subsidiary of the Company, has been awarded an export order for a 155mm Artillery Gun platform to be executed over a 3-year time frame. The total value of the order is $155.50 Mln,â the company informed the Bombay Stock Exchange (BSE) in a notification.
Army to get more M4 armoured vehicles, with Spike missiles
](Army to get more M4 armoured vehicles, with Spike missiles - The Hindu)
âThis order, to a non-conflict zone, is a great testament to the Government of Indiaâs AatmaNirbhar Bharat agenda and its sustained push to promote exports of Indigenously Designed Developed and Manufactured (IDDM) advanced defence platforms from India,â the statement added.
Bharat Forge which has diversified heavily into defence manufacturing in the last few years, has developed a range of products including a range of artillery guns. While it has sold 60 of its Kalyani-M4 armoured vehicles to the Indian Army with 30 more on order, it is yet to get a domestic order for its artillery guns.
At the recent DefExpo in Gujarat, there was lot of interest in the artillery guns from South East Asia and Africa. Company officials said at the Expo that they have secured export orders for the Kalyani-M4 vehicles.
In February 2021, Bharat Forge announced that it has received an order from Defence Ministry under emergency procurement worth âš117.95 crore to supply its Kalyani M4 mine protection vehicles to the Army. The deal was for 27 vehicles according to Army sources. The Army has since placed further orders for these vehicles.
Aerospace Business. A leading supplier of various components for the aviation sector.
The Aerospace business unit is a leading supplier of various components - airframe, structural and engine parts for the aviation sector. We are known to be one of the best aircraft compressor manufacturer in India.
Over the years, Bharat Forge continues to invest in state-of-the-art facilities harbouring world-class products, facilities and capabilities which has not only made the Company a renowned aircraft compressor and turbine manufacturer India, but also one of the best aircraft fan blade manufacturer in India.
BFL manufactures airframes, structural and engine parts for aeroplanes of various makes and models. As an aircraft turbine and compressor manufacturer India, the Company manufactures high end shafts, LPC Discs and HP Discs for airlines. Aero engine components - Blisk Blades, OGV Blades and Fan Blades manufactured by us are made in keeping with the latest technology and design trends while maintaining high quality standards. This has made us a renowned aircraft fan blade manufacturer in the aviation sector in India.
roducts
Explore all Aerospace Products
Fan blade
Compressor & Turbine
Aero structure
- [
Landing gear component
](Bharat Forge - Aircraft Compressor, Turbine Manufacturer in India)
Disclaimer: I have a small investment in it.
https://idrw.org/bharat-forge-gets-tot-for-whap-8x8-vehicles/
Bharat-Forge has obtained the Transfer of Technology (ToT) for the WhAP 8Ă8 wheeled armoured platform. This will be the second armoured vehicle from Kalyaniâs stable along with the Kalyani M4. Tata Mahindra and L&T are direct competitors in this area. This is discounting the possibility of the army going for USâs Stryker which is twice as expensive and doesnât provide any thing thatâs significantly better.
Kalyaniâs current WHAP was said to be based on the Terrex Infantry Carrier Vehicle (ICV) that has been developed by ST Engineering of Singapore and Timoney Technology of Ireland[source]
With the requirement for FICV being around 1750, the total order can be close to 40,000Cr. If the army does not follow the L1:L2(60:40) bidding, there is still room for all and the concurrency can speed up the procurement. Also, one company may not be able to put in place a production line that can cater to manufacture thousands.
Bharat Forge finally wins the ATAGs contract as the lowest bidder. 184 of the 307 guns will be manufactured by BF, at 20Cr a piece it translates Rs.3680 Cr. 307 really doesnât suffice for a defence force as big as ours. There could be more orders coming through in the short-medium term. Now for the Mounted gun Systems and the Ultra-light weight gun system, BF has an edge in both these platforms.