Bharat Forge Ltd — M&A Activity 2026

Apr 30, 2026

BHARAT FORGE
April 30, 2026

To,
BSE Limited
Corporate Relations Department
Phiroze Jeejeebhoy Towers
Dalal Street, Fort, Mumbai 400 001
Maharashtra, India
Scrip Code: 500493

National Stock Exchange of India Limited
Listing Department
Exchange Plaza, Plot No. C/1, G Block
Bandra Kurla Complex, Bandra (East)
Mumbai 400 051, Maharashtra, India
Symbol: BHARATFORG

Sub.: Acquisition of Fortuna Engineering Private Limited by Bharat Forge Limited

Ref.: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('Listing Regulations')

Dear Sir / Madam,

Pursuant to Regulation 30 of Listing Regulations, we wish to inform you that Bharat Forge Limited has entered into a Share Purchase Agreement ("SPA") and Shareholders' Agreement ("SHA") for the acquisition of 30% stake for an aggregate consideration of Rs. 129.60 Crores in Fortuna Engineering Private Limited ("FEPL"), which is engaged in the business of manufacturing of machined connecting rods; camshafts (including FIP camshafts) and fixtures for automotive and off-road applications. Further, the Company will have an ability to acquire additional stake of upto 20%+ 1 (majority) shareholding of FEPL subject to fulfillment of certain conditions in the definitive agreements. The completion of acquisition shall be subject to fulfilment of conditions precedent and in accordance with the terms agreed upon in the SPA which include approvals that may be required from certain governmental authorities.

The detailed disclosures as required under SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, and such other circulars as applicable, is enclosed as Annexure.

Kindly take the same on record.

Thanking you,
Yours faithfully,

For Bharat Forge Limited,

TEJASWINI
RAMKRISHNA
CHAUDHARI

Digitally signed by TEJASWINI
RAMKRISHNA CHAUDHARI
Date: 2026.04.30 16:45:41
+05'30'

Tejaswini Chaudhari
Company Secretary & Compliance Officer
Membership No.: A18907
Encl.: As above

KALYANI
CIN L25209PN1961PLC012046
BHARAT FORGE LIMITED, MUNDHWA, PUNE 411 036, MAHARASHTRA, INDIA.
PHONE: +91 20 6704 2476 6704 2451 6704 2544 (Secretarial) Fax 020 2682 2163
Email: secretarial@bharatforge.com WEBSITE: www.bharatforge.com

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BHARAT FORGE

Annexure

Disclosure of Information pursuant to Regulation 30 of the Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Sr. No	Particulars	Details
1	Name of the target entity, details in brief such as size, turnover etc.	Fortuna Engineering Private Limited (“FEPL”) is a Company incorporated in 1989 situated in Nashik and engaged in the machining of Connecting Rods and Camshafts for both Commercial & Passenger Vehicles and off-highway applications
Authorized Share Capital: Rs. 120,000,000
Paid up Share Capital: Rs. 90,291,810
Figures in Rs Crores
		Particulars	FY2025	FY2024	FY2023
		Sales	322.50	329.52	342.93
		Net Worth	173.15	153.64	135.12
		2	Whether the acquisition would fall within related party transaction(s) and whether the promoter/promoter group/ group companies have any interest in the entity being acquired? If yes, nature of interest and details thereof and whether the same is done at “arm’s length”	FEPL is not a related party of the Company
None of the Company’s promoter/ promoter group /group companies have any interest in the proposed investments
3	Industry to which the entity being acquired belongs;	FEPL is engaged in the business of manufacturing of machined connecting rods; camshafts (including FIP camshafts) and fixtures for automotive and off-road applications.
4	Objects and impact of acquisition (including but not limited to, disclosure of reasons for acquisition of target entity, if its business is	The acquisition is in line with the Company’s strategy to strengthen its machining capabilities and forward integration. It is expected to enhance value addition, and support growth in domestic and export markets.

KALYANI

CIN L25209PN1961PLC012046

BHARAT FORGE LIMITED, MUNDHWA, PUNE 411 036, MAHARASHTRA, INDIA.

PHONE: +91 20 6704 2476 6704 2451 6704 2544 (Secretarial) Fax 020 2682 2163

Email: secretarial@bharatforge.com WEBSITE: www.bharatforge.com

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BHARAT FORGE

	outside the main line of business of the listed entity);
5	Brief details of any governmental or regulatory approvals required for the acquisition;	The transaction may require approval of certain governmental authorities upon acquisition of a controlling stake in FEPL.
6	Indicative time period for completion of the acquisition;	The acquisition is proposed to be completed in tranches, subject to fulfilment of conditions precedent and achievement of certain commercial parameters.
7	Consideration - whether cash consideration or share swap or any other form and details of the same;	Cash consideration
8	Cost of acquisition and/or the price at which the shares are acquired;	The cost of acquisition for Tranche 1 (up to 30% stake) is up to Rs.129,60,00,000 (One Hundred Twenty-Nine Crore Sixty Lakh) subject to closing adjustments. The consideration for subsequent tranche(s) will be determined in accordance with the agreed valuation framework as set out in the definitive agreements.
9	Percentage of shareholding / control acquired and / or number of shares acquired;	Up to 30% equity stake in Tranche 1, with an option to acquire an additional up to 20% + 1 stake (aggregating up to 50% + 1) in subsequent tranche(s).
10	Brief background about the entity acquired in terms of products/line of business acquired, date of incorporation, history of last 3 years turnover, country in which the acquired entity has presence and any other significant information (in brief)	Fortuna Engineering Private Limited (“FEPL”) is a Company incorporated in 1989 situated in Nashik and engaged in the machining of Connecting Rods and Camshafts for both Commercial & Passenger Vehicles and off-highway applications in India
The turnover of FEPL for past 3 years is as follows:
FY 2024-25: Rs. 322.50 Crores
FY 2023-24: Rs. 329.52 Crores
FY 2022-23: Rs. 342.93 Crores
FEPL has business presence only in India

KALYANI

CIN L25209PN1961PLC012046

BHARAT FORGE LIMITED, MUNDHWA, PUNE 411 036, MAHARASHTRA, INDIA.

PHONE: +91 20 6704 2476 6704 2451 6704 2544 (Secretarial) Fax 020 2682 2163

Email: secretarial@bharatforge.com WEBSITE: www.bharatforge.com