Bharat Forge Limited — Important, 27-03-2025: Agreements

Kalyani Strategic Systems Limited, a wholly owned subsidiary of Bharat Forge, has announced a joint venture with Duma Engineering Group S.L. to form a new company in Spain. KSSL will hold a 90% equity stake, while DUMA will hold 10%. This venture aims to develop technology and product platforms for defense products targeting Indian, European, and other export markets. The collaboration potentially enhances Bharat Forge's capabilities in the defense sector, which could be viewed positively by investors as it opens new growth avenues and addresses strategic market segments.