BHARATFORG2023-10-012023-12-31 BHARATFORG2023-10-012023-12-31 BHARATFORG2023-10-012023-12-31in-bse-fin:OneOperatingExpenses01Member BHARATFORG2023-10-012023-12-31in-bse-fin:FourOperatingExpenses01Member BHARATFORG2023-12-31 BHARATFORG2023-10-012023-12-31in-bse-fin:OneReportableSegmentRevenue01Member BHARATFORG2023-10-012023-12-31in-bse-fin:OneReportableSegmentRevenue02Member BHARATFORG2023-10-012023-12-31in-bse-fin:OneReportableSegmentRevenue03Member BHARATFORG2023-10-012023-12-31in-bse-fin:FourReportableSegmentRevenue01Member BHARATFORG2023-10-012023-12-31in-bse-fin:FourReportableSegmentRevenue02Member BHARATFORG2023-10-012023-12-31in-bse-fin:FourReportableSegmentRevenue03Member BHARATFORG2023-10-012023-12-31in-bse-fin:OneReportableSegmentResults01Member BHARATFORG2023-10-012023-12-31in-bse-fin:OneReportableSegmentResults02Member BHARATFORG2023-10-012023-12-31in-bse-fin:OneReportableSegmentResults03Member BHARATFORG2023-10-012023-12-31in-bse-fin:FourReportableSegmentResults01Member BHARATFORG2023-10-012023-12-31in-bse-fin:FourReportableSegmentResults02Member BHARATFORG2023-10-012023-12-31in-bse-fin:FourReportableSegmentResults03Member BHARATFORG2023-10-012023-12-31in-bse-fin:OneReportableSegmentAssets01Member BHARATFORG2023-10-012023-12-31in-bse-fin:OneReportableSegmentAssets02Member BHARATFORG2023-10-012023-12-31in-bse-fin:OneReportableSegmentAssets03Member BHARATFORG2023-10-012023-12-31in-bse-fin:OneReportableSegmentLiabilities01Member BHARATFORG2023-12-31in-bse-fin:OneReportableSegmentLiabilities01Member BHARATFORG2023-10-012023-12-31in-bse-fin:OneReportableSegmentLiabilities02Member BHARATFORG2023-12-31in-bse-fin:OneReportableSegmentLiabilities02Member BHARATFORG2023-10-012023-12-31in-bse-fin:OneReportableSegmentLiabilities03Member BHARATFORG2023-12-31in-bse-fin:OneReportableSegmentLiabilities03Member BHARATFORG2023-10-012023-12-31in-bse-fin:OneItemsThatWillNotBeReclassifiedToProfitAndLoss01Member BHARATFORG2023-10-012023-12-31in-bse-fin:OneItemsThatWillNotBeReclassifiedToProfitAndLoss02Member BHARATFORG2023-10-012023-12-31in-bse-fin:FourItemsThatWillNotBeReclassifiedToProfitAndLoss01Member BHARATFORG2023-10-012023-12-31in-bse-fin:FourItemsThatWillNotBeReclassifiedToProfitAndLoss02Member BHARATFORG2023-10-012023-12-31in-bse-fin:OneItemsThatWillBeReclassifiedToProfitAndLoss01Member BHARATFORG2023-10-012023-12-31in-bse-fin:OneItemsThatWillBeReclassifiedToProfitAndLoss02Member BHARATFORG2023-10-012023-12-31in-bse-fin:FourItemsThatWillBeReclassifiedToProfitAndLoss01Member BHARATFORG2023-10-012023-12-31in-bse-fin:FourItemsThatWillBeReclassifiedToProfitAndLoss02Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 500493 BHARATFORG NA Bharat Forge Limited Equity 2023-04-01 2024-03-31 2024-02-12 2024-02-01 INR Millions Third quarter 11:30:00 13:30:00 2024-02-12 2024-02-12 Not applicable Multi segment 2023-10-01 2023-12-31 Unaudited Consolidated 38664090000.00 559530000.00 39223620000.00 15219480000.00 2701610000.00 -117900000.00 4498030000.00 1368170000.00 2236650000.00 9384280000.00 35290320000.00 3933300000.00 0.00 3933300000.00 1477030000.00 -71100000.00 1405930000.00 0.00 2527370000.00 0.00 0.00 0.00 17110000.00 2544480000.00 -200320000.00 2344160000.00 2645460000.00 -100980000.00 2445190000.00 -101030000.00 931270000.00 2 5.68 5.68 0.00 0.00 5.68 5.68 A. Exceptional Items - Exceptional items in the standalone and consolidated financial results for the nine months ended December 31, 2023, quarter and nine months ended December 31, 2022 and year ended March 31, 2023 are towards expenses in relation to Voluntary Retirement Scheme (VRS) declared by the Company for its employees in April 2022, July 2022 and January 2023 and employee separation costs for certain overseas subsidiaries. - Exceptional items in the standalone financial results for the year ended March 31, 2023 includes Rs 2.82 million loss on transfer of investment in Aeron Systems Private Limited and for the quarter ended December 31, 2022, nine months ended December 31, 2022 and year ended March 31, 2023 includes Rs 42.81 million surplus on transfer of investment in Analogic Controls India Limited to Kalyani Strategic systems. This has no impact on consolidated financial results. B. On January 13, 2023, the Company declared a Voluntary Retirement Scheme (VRS) for its employees at Mundhwa Plant, which is extended up to March 31, 2024. C. On December 31, 2022, J S Auto Cast Foundry India Private limited ( JS Auto ), step-down subsidiary of the Company, has entered into Business Transfer Agreement with Indo Shell Mould limited ( ISML ) for acquiring their SEZ Unit in SIPCOT, Erode which supplies fully machined critical castings to marquee customers in the automotive industry. The closing of the transaction was completed on July 1, 2023 at a consideration of Rs 533 million. The Company has calculated the fair value of the acquired assets and liabilities on a provisional basis in accordance with Ind AS 103 Business Combinations and allocated the purchase consideration of Rs 533 million. D.The Company through its wholly owned subsidiary Kalyani Strategic Systems Limited (KSSL) has acquired 5,00,000 equity shares (64.93% of total shareholding) of face value Rs. 10/- each of Zorya Mashproekt India Private Limited (ZMI) on January 23, 2024. ZMI is a private limited company which is engaged in business of development of indigenous capabilities for build ups and repair and overhaul of all types of gas turbine engine. E. The Board of Directors at its meeting held on February 12, 2024 has recommended interim dividend of Rs 2.50 per equity share of Rs 2/- (125%). Multi segment 2023-04-01 2023-12-31 Unaudited Consolidated 115178650000.00 1725940000.00 116904590000.00 51265730000.00 3569930000.00 -609830000.00 13851210000.00 3756470000.00 6410880000.00 27955020000.00 106199410000.00 10705180000.00 -20970000.00 10684210000.00 4076550000.00 -175210000.00 3901340000.00 0.00 6782870000.00 0.00 0.00 0.00 47560000.00 6830430000.00 870000000.00 7700430000.00 7151750000.00 -321320000.00 8021880000.00 -321450000.00 931270000.00 2 15.36 15.36 0.00 0.00 15.36 15.36 other expenses 9384280000.00 other expenses 27955020000.00 Forgings 33439080000.00 Inter-Segment 0.00 Others 6262280000.00 Forgings 102022120000.00 Inter-Segment 0.00 Others 15946530000.00 39701360000.00 117968650000.00 1037270000.00 2790000000.00 38664090000.00 115178650000.00 Forgings 4078670000.00 Inter-Segment 0.00 Others 1294040000.00 Forgings 12265830000.00 Inter-Segment 0.00 Others 2305070000.00 5372710000.00 14570900000.00 1368170000.00 3756470000.00 54130000.00 A. Exceptional Items - Exceptional items in the standalone and consolidated financial results for the nine months ended December 31, 2023, quarter and nine months ended December 31, 2022 and year ended March 31, 2023 are towards expenses in relation to Voluntary Retirement Scheme (VRS) declared by the Company for its employees in April 2022, July 2022 and January 2023 and employee separation costs for certain overseas subsidiaries. - Exceptional items in the standalone financial results for the year ended March 31, 2023 includes Rs 2.82 million loss on transfer of investment in Aeron Systems Private Limited and for the quarter ended December 31, 2022, nine months ended December 31, 2022 and year ended March 31, 2023 includes Rs 42.81 million surplus on transfer of investment in Analogic Controls India Limited to Kalyani Strategic systems. This has no impact on consolidated financial results. B. On January 13, 2023, the Company declared a Voluntary Retirement Scheme (VRS) for its employees at Mundhwa Plant, which is extended up to March 31, 2024. C. On December 31, 2022, J S Auto Cast Foundry India Private limited ( JS Auto ), step-down subsidiary of the Company, has entered into Business Transfer Agreement with Indo Shell Mould limited ( ISML ) for acquiring their SEZ Unit in SIPCOT, Erode which supplies fully machined critical castings to marquee customers in the automotive industry. The closing of the transaction was completed on July 1, 2023 at a consideration of Rs 533 million. The Company has calculated the fair value of the acquired assets and liabilities on a provisional basis in accordance with Ind AS 103 Business Combinations and allocated the purchase consideration of Rs 533 million. D.The Company through its wholly owned subsidiary Kalyani Strategic Systems Limited (KSSL) has acquired 5,00,000 equity shares (64.93% of total shareholding) of face value Rs. 10/- each of Zorya Mashproekt India Private Limited (ZMI) on January 23, 2024. ZMI is a private limited company which is engaged in business of development of indigenous capabilities for build ups and repair and overhaul of all types of gas turbine engine. E. The Board of Directors at its meeting held on February 12, 2024 has recommended interim dividend of Rs 2.50 per equity share of Rs 2/- (125%). 82660000.00 3950410000.00 10731770000.00 Forgings 118291830000.00 Inter-Segment -473260000.00 Others 27394190000.00 145212760000.00 45127540000.00 190340300000.00 Forgings 26521740000.00 Inter-Segment -473260000.00 Others 11130060000.00 37178540000.00 4866920000.00 42045460000.00 Re-measurement gains on defined benefit plans -24230000.00 Net gain on FVTOCI equity securities 368680000.00 Re-measurement gains on defined benefit plans -19500000.00 Net gain on FVTOCI equity securities 1045140000.00 344450000.00 1025640000.00 33330000.00 37600000.00 Net movement on cash flow hedges -624670000.00 Foreign Currency Translation reserve -41000000.00 Net movement on cash flow hedges -252200000.00 Foreign Currency Translation reserve 70680000.00 -665670000.00 -181520000.00 -154230000.00 -63480000.00