Balu Forge Industries Ltd. has declared its quarter and year ended 31st March 2022 - Q4FY22 and FY22 Results. For the quarter ended 31 March 2022, the revenue rose 80% YoY to Rs. 8748.86 Lakhs (Q4FY22) from Rs. 4857.25 Lakhs (Q4FY21), and the Company saw 128% jump in PAT (YoY). 

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"For year ended 31 March 2022, the Company saw improvements in PAT and revenues saw a jump. The revenues zoomed 99% YoY to Rs. 29358.42 Lakhs (FY22) from Rs. 14733.29 Lakhs (FY21) and the Company saw a 300% jump in PAT (YoY), which rose to Rs. 3043.91 Lakhs (FY22)," the company said in a statement.

The company says it aims to commission the new production line and initiate commercial orders to the Class 7, Class 8 Commercial Vehicle Industry from October, 2022.

Commenting on the results, Jaspal Singh Chandock, Chairman & Managing Director said, “We have surpassed our growth expectations despite of the uncertain global environment & we will continue on this growth path through FY2022/2023 with a strong & consistent order book. Our key growth drivers namely orders from the Defence Industry, Railways in a Middle Eastern Country & the robust growth in the agricultural demand of Africa in addition to the Class 7 & Class 8 Commercial Vehicle Industry will further ensure a robust growth outlook. The company is on a very aggressive and sustainable growth path of 100% YOY due to a wide geographical & Industrial application of our products.”