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What is the story about?
Shares of Bharat Forge surged more than 5% on Monday, February 2, after its step-down subsidiary JS Auto Cast Foundry India secured a ₹300 crore equity investment from Premji Invest, as the company looks to scale up capacity and drive consolidation in the ferrous castings space.
In a press release, Bharat Forge said the investment has been made through a primary infusion into JS Auto Cast, with Premji Invest acquiring a 23% stake on a fully diluted basis following the transaction. The deal is subject to customary regulatory and closing conditions.
The fresh capital will be used to accelerate JS Auto Cast’s growth plans, including expansion of its existing casting capacity, investments in medium casting capabilities, and potential acquisitions to consolidate the fragmented industry.
Read more: No big earnings reset after Budget 2026, says Motilal Oswal’s Gautam Duggad
JS Auto Cast is a leading supplier of critical ferrous castings for industrial and automotive applications and has been part of the Bharat Forge group since 2022. According to the company, the subsidiary has delivered strong performance since its acquisition, with revenue, exports and profitability growing at compound annual growth rates of 17%, 24% and 25%, respectively, while also improving its product mix and customer base.
Commenting on the development, Amit Kalyani, Vice Chairman and Joint Managing Director of Bharat Forge, said the partnership with Premji Invest marks the next phase of growth for JS Auto Cast and would support its ambitions to scale operations and strengthen its market position.
Manoj Jaiswal, Partner at Premji Invest, said, "Collaborating with leading conglomerates on their growth and consolidation journey is one of our
strategic pillars. Through our investment in JSA, we look forward to jointly building a leading ferrous casting platform in the country."
Read more: Hyundai Motor India Q3 Results: Single-digit growth in revenue, operating profit; Margins stable
PwC Investment Banking acted as the sole financial advisor to Bharat Forge for the transaction.
Last month, the company won defence contracts worth around ₹300 crore under the government’s Emergency Procurement–VI (EP-VI) framework for the supply of indigenous unmanned systems to the Indian Army, with end use also for the Indian Navy.
Shares of Bharat Forge pared some of their gains, ending 4.65% higher at ₹1,441.60 on Monday. The stock has gained 22.44% in the past six months.
In a press release, Bharat Forge said the investment has been made through a primary infusion into JS Auto Cast, with Premji Invest acquiring a 23% stake on a fully diluted basis following the transaction. The deal is subject to customary regulatory and closing conditions.
The fresh capital will be used to accelerate JS Auto Cast’s growth plans, including expansion of its existing casting capacity, investments in medium casting capabilities, and potential acquisitions to consolidate the fragmented industry.
Read more: No big earnings reset after Budget 2026, says Motilal Oswal’s Gautam Duggad
JS Auto Cast is a leading supplier of critical ferrous castings for industrial and automotive applications and has been part of the Bharat Forge group since 2022. According to the company, the subsidiary has delivered strong performance since its acquisition, with revenue, exports and profitability growing at compound annual growth rates of 17%, 24% and 25%, respectively, while also improving its product mix and customer base.
Commenting on the development, Amit Kalyani, Vice Chairman and Joint Managing Director of Bharat Forge, said the partnership with Premji Invest marks the next phase of growth for JS Auto Cast and would support its ambitions to scale operations and strengthen its market position.
Manoj Jaiswal, Partner at Premji Invest, said, "Collaborating with leading conglomerates on their growth and consolidation journey is one of our
strategic pillars. Through our investment in JSA, we look forward to jointly building a leading ferrous casting platform in the country."
Read more: Hyundai Motor India Q3 Results: Single-digit growth in revenue, operating profit; Margins stable
PwC Investment Banking acted as the sole financial advisor to Bharat Forge for the transaction.
Last month, the company won defence contracts worth around ₹300 crore under the government’s Emergency Procurement–VI (EP-VI) framework for the supply of indigenous unmanned systems to the Indian Army, with end use also for the Indian Navy.
Shares of Bharat Forge pared some of their gains, ending 4.65% higher at ₹1,441.60 on Monday. The stock has gained 22.44% in the past six months.
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