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FORGE LIMITED2024-04-012025-03-31Yearly2025-03-31EquitytruetruetruetruetruefalseNot applicable in the period under review.trueTop 500 listed entitiestrueB00131OriginaltruetrueMrBABASAHEB NEELKANTH KALYANI00089380Executive DirectorChairpersonMD1949-01-17falseActiveNA1993-03-302023-03-304041MrAMIT BABASAHEB KALYANIABAPK7869A00089430Executive DirectorNot Applicable1975-07-26falseActiveNA2004-05-112024-05-117130MrBASAVRAJ KALYANI00267202Executive DirectorNot Applicable1962-07-31falseActiveNA2006-05-232021-05-231000MrASHISH BHARAT RAMAAHPR1497F00671567Non-Executive - Non Independent DirectorNot Applicable1968-12-31falseActiveNA2023-09-012023-09-014121MrSUBODH EKNATH TANDALE00266833Executive DirectorNot Applicable1968-09-24falseActiveNA2006-05-232021-05-231000MrKANWAR BIR SINGH ANANDAABPA6586A03518282Non-Executive - Independent DirectorNot Applicable1955-08-30falseActiveNo2022-06-272022-06-27336672MrsSONIA SINGH07108778Non-Executive - Independent DirectorNot Applicable1964-09-05falseActiveNo2022-06-272022-06-27335552MrDIPAK BALASAHEB MANEAEGPB3894K01215889Non-Executive - Independent DirectorNot Applicable1960-11-23falseActiveNo2019-06-212024-06-2191100MrANAND PATHAK01529308Non-Executive - Independent DirectorNot Applicable1963-04-18falseActiveNo2024-07-122024-07-1291111MrsRASHMI JOSHIAAFPJ1609K06641898Non-Executive - Independent DirectorNot Applicable1966-07-30falseActiveNo2024-12-302024-12-3031110MrRAVI KAPOOR00185981Non-Executive - Independent DirectorNot Applicable1962-09-16falseActiveNo2024-12-302024-12-3032220truetruetruetruetrueAudit Committee03518282KANWAR BIR SINGH ANANDNon-Executive - Independent DirectorChairperson2024-09-04Audit Committee06641898RASHMI JOSHINon-Executive - Independent DirectorMember2025-01-10Audit Committee00185981RAVI KAPOORNon-Executive - Independent DirectorMember2025-01-10Audit Committee07108778SONIA SINGHNon-Executive - Independent DirectorMember2024-09-042025-01-10Audit Committee00671567ASHISH BHARAT RAMNon-Executive - Non Independent DirectorMember2024-09-042025-01-10Nomination and remuneration committee01215889DIPAK BALASAHEB MANENon-Executive - Independent DirectorChairperson2021-11-13Nomination and remuneration committee00671567ASHISH BHARAT RAMNon-Executive - Non Independent DirectorMember2024-09-04Nomination and remuneration committee07108778SONIA SINGHNon-Executive - Independent DirectorMember2024-09-04Nomination and remuneration committee06641898RASHMI JOSHINon-Executive - Independent DirectorMember2025-01-10Stakeholders Relationship Committee01529308ANAND PATHAKNon-Executive - Independent DirectorChairperson2024-09-04Stakeholders Relationship Committee00089380BABASAHEB NEELKANTH KALYANIExecutive DirectorMember2014-05-27Stakeholders Relationship Committee00089430AMIT BABASAHEB KALYANIExecutive DirectorMember2024-09-04Stakeholders Relationship Committee07108778SONIA SINGHNon-Executive - Independent DirectorMember2025-01-10Risk Management Committee00089380BABASAHEB NEELKANTH KALYANIExecutive DirectorChairperson2015-02-02Risk Management Committee00089430AMIT BABASAHEB KALYANIExecutive DirectorMember2015-02-02Risk Management Committee00671567ASHISH BHARAT RAMNon-Executive Non Independent DirectorMember2025-01-10Risk Management Committee06641898RASHMI JOSHINon-Executive Independent DirectorMember2025-01-10Risk Management Committee03518282KANWAR BIR SINGH ANANDNon-Executive - Independent DirectorMember2024-09-042025-01-10Corporate Social Responsibility Committee00089380BABASAHEB NEELKANTH KALYANIExecutive DirectorChairperson2024-09-04Corporate Social Responsibility Committee01529308ANAND PATHAKNon-Executive - Independent DirectorMember2024-09-04Corporate Social Responsibility Committee00089430AMIT BABASAHEB KALYANIExecutive DirectorMember2014-05-27Corporate Social Responsibility Committee03518282KANWAR BIR SINGH ANANDNon-Executive - Independent DirectorMember2025-01-10Other Committee00089430AMIT BABASAHEB KALYANIESG CommitteeExecutive DirectorChairpersonOther Committee01215889DIPAK BALASAHEB MANEESG CommitteeNon-Executive - Independent DirectorMemberOther Committee00185981RAVI KAPOORESG CommitteeNon-Executive - Independent DirectorMemberOther Committee07108778SONIA SINGHESG CommitteeNon-Executive - Independent DirectorMember2024-11-14true9942025-02-1289true11116Audit Committee2024-11-14true3320Audit Committee2024-12-1631true3320Audit Committee2025-02-1257true3330Nomination and remuneration committee2024-11-14true3320Corporate Social Responsibility Committee2025-02-1289true4420Other Committee2025-02-12ESG Committeetrue4430truetruetruetrueYestruetruetrueTejaswini ChaudhariCompany Secretary and Compliance OfficerYeshttps://www.bharatforge.com/investors/disclosure-under-regulation-46-of-sebi-lodr-regulationsYeshttps://www.bharatforge.com/assets/pdf/investors/Memorandum-of-Association.pdf/https://www.bharatforge.com/assets/pdf/investors/BFL-Articles-of-Association-Final.pdfYeshttps://www.bharatforge.com/company/about-us#board-of-directorsYeshttps://www.bharatforge.com/assets/pdf/investors/Terms_of_Appointment_of_Independent_Director-clean.pdfYeshttps://www.bharatforge.com/investors/corporate-governance/board-committeesYeshttps://www.bharatforge.com/investors/corporate-governanceYeshttps://www.bharatforge.com/investors/corporate-governanceYeshttps://www.bharatforge.com/investors/corporate-governanceYeshttps://www.bharatforge.com/investors/corporate-governanceYeshttps://www.bharatforge.com/investors/corporate-governanceYeshttps://www.bharatforge.com/investors/corporate-governanceYeshttps://www.bharatforge.com/investors/investor-enquiryYeshttps://www.bharatforge.com/investors/investor-enquiryYeshttps://www.bharatforge.com/investors/disclosure-under-regulation-46-of-sebi-lodr-regulationsYeshttps://www.bharatforge.com/investors/shareholders-information/shareholding-patternNAYeshttps://www.bharatforge.com/investors/disclosure-under-regulation-46-of-sebi-lodr-regulationsYeshttps://www.bharatforge.com/investors/disclosure-under-regulation-46-of-sebi-lodr-regulationsNAYeshttps://www.bharatforge.com/investors/shareholders-information/noticesYeshttps://www.bharatforge.com/investors/disclosure-under-regulation-46-of-sebi-lodr-regulationsYeshttps://www.bharatforge.com/investors/reports/annual-reportsYeshttps://www.bharatforge.com/investors/shareholders-information/noticesYeshttps://www.bharatforge.com/assets/pdf/corporateGovernance/Policy_on_Determination_of_Materiality_of_Event-Website.pdfYeshttps://www.bharatforge.com/investors/investor-enquiryYeshttps://www.bharatforge.com/investors/shareholders-information/noticesNAYeshttps://www.bharatforge.com/assets/pdf/corporateGovernance/Dividend-Distribution-Policy.pdfYeshttps://www.bharatforge.com/investors/disclosure-under-regulation-46-of-sebi-lodr-regulationsNAYeshttps://www.bharatforge.com/investors/disclosure-under-regulation-46-of-sebi-lodr-regulationsYeshttps://www.bharatforge.com/investors/disclosure-under-regulation-46-of-sebi-lodr-regulationsYesNoDuring the quarter ended September 30, 2024, and up to December 29, 2024, the composition of the Board of Directors of the Company was not in compliance with Regulation 17(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as half of the Board members were not Independent Directors. This deviation arose due to regulatory requirements applicable to the Company under Rule 55(8) of the Arms Rules, 2016. As the Company holds arms manufacturing licenses issued by the Ministry of Home Affairs (MHA) and the Department for Promotion of Industry and Internal Trade (DPIIT), any change in directorship, including the appointment of Independent Directors, necessitates prior approval from these Licensing Authorities. Accordingly, the Company submitted an application for approval of the appointment of two Independent Directors to the Licensing Authorities on September 3, 2024. The MHA granted its approval on November 12, 2024 and DPIIT's approval was received on December 30, 2024, following which the Board appointed Mr. Ravi Kapoor and Ms. Rashmi Joshi as Independent Directors on the same day. The Company was thus unable to comply with the stipulated Board composition requirements solely due to the time taken for regulatory approvals, which were beyond the Company's control. Upon receipt of the necessary approvals, the Company promptly regularized its Board composition in compliance with Regulation 17(1). YesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesYesTejaswini ChaudhariCompany Secretary and Compliance OfficerYesTejaswini ChaudhariCompany Secretary and Compliance OfficerfalseTejaswini ChaudhariCompany Secretary and Compliance OfficerPune2025-04-2801100Sunsure Solarpark Twenty Eight Private Limited2025-02-280.120.03520.1552Kalyani Powertrain Limited2025-02-05101Against this Order of Office of the Commissioner of Customs (Import), the Company intends to file for legal remedy by way of an appeal. Based on the Companys assessment, the Company reasonably expects a favorable outcome at the appellate level.National Stock Exchange of India Limited (“NSE”)Fine levied by NSE of Rs. 5,31,000 (incl. GST) levied for non-compliance of the Regulation 17(1) of the Listing Regulations2025-03-17Alleged delay in compliance of the Regulation 17(1) of the Listing Regulations pertaining to the requirement that half of the Board shall comprise of Independent Directors.The fine levied by Stock Exchanges has no material impact on financials, operations or other activities of the Company.BSE Limited (“BSE”)Fine levied by BSE of Rs. 5,31,000 (incl. GST) levied for non-compliance of the Regulation 17(1) of the Listing Regulations2025-03-17Alleged delay in compliance of the Regulation 17(1) of the Listing Regulations pertaining to the requirement that half of the Board shall comprise of Independent Directors.The fine levied by Stock Exchanges has no material impact on financials, operations or other activities of the Company.Office of the Commissioner of Customs (Import)Penalty of Rs. 4,47,318/- along with the applicable interest under section 114A of Customs Act, 1962 and redemption fine of Rs. 4,00,000/-2025-03-17The fine has been levied towards exemption benefit availed by the Company under notification no. 50/2017The fine levied by the Office of the Commissioner of Customs (Import) has no material impact financials, operations or other activities of the CompanyPune Cantonment Board2010-06-04Company has challenged revision of Annual Rateable Value (“ARV”) & property tax bill based on revised ARV for set of Triennial period 2004-05 to 2023-24 (extended till the date) raised by PCB which was contrary to the settlement between the Company and PCB. The decision on Appeal filed before the Pune District Court and Writ Petition filed before Bombay High Court is pending. However, the Company has paid the entire amount demanded under protest. This litigation will not have any adverse financial impact on the Company. Property Tax from 2004-05 till FY 2019-2020 has been paid in full under protest - in event of Company succeeding in appeals - favourable impact to the tune of INR 30.50 crores. Property Tax from FY 2020-21 to 2023- 24 – in the event of Company (i) succeeding in appeal - Company would save property tax to the extent of INR 17.83 crores. (ii) not succeeding in appeal - there would be financial impact to the tune of INR 17.83 crores. Hon’ble Bombay High Court has, vide order dated September 06, 2024 (“the Order”), disposed of the writ petition with instructions to avail of the alternate remedy under the Cantonments Act, 2006 by filing an appeal before the Pune District Court (“Appellate Authority”) and depositing the balance disputed amount under protest. The Appellate Authority has been instructed to dispose of the appeal on or before October 11, 2025 The Company has paid the full property tax up to FY 2024-25 along with interest under protest. Currently, the writ petition no 4293/2010 is pending before the Hon’ble Bombay High Court and the year-wise appeals are pending before the Pune District Court.