Pune-based Bharat Forge has secured a significant ₹425 crore contract from the Ministry of Defence for the supply of gas turbine generators (GTGs) to the Indian Navy, marking the company’s entry into the marine gas turbine business.
The contract, awarded under the Buy (Indian) category of the Defence Acquisition Procedure 2020 (DAP-2020), involves the supply of 1.25 MW gas turbine generators for onboard power generation on Kolkata-class warships. The project is scheduled to be executed over a period of five years.
According to the company, the new indigenous GTGs will replace the lower-capacity units currently operating aboard the naval vessels. The order represents a major milestone for Bharat Forge as it will deliver the first indigenous gas turbine-based power plant designed to operate on Indian Naval ships.
As part of its long-term strategy in the defence sector, Bharat Forge announced plans to establish a dedicated integration and testing facility for gas turbine generators. The company also intends to participate in the design and development of larger power plants and gas turbine propulsion, further expanding its technological capabilities in the marine propulsion domain.
The company stated that the initiative will strengthen India’s defence manufacturing ecosystem by enabling localised production and supporting the evolving requirements of the armed forces. The development is also expected to enhance self-reliance by facilitating end-to-end maintenance, repair and overhaul (MRO) operations for gas turbines and GTGs within the country.
Investor sentiment remained positive following the announcement, with Bharat Forge shares touching a 52-week high of ₹2,062 on June 22. The stock has gained approximately 40 per cent since the beginning of the year and has risen 41 per cent over the past six months.
On the financial front, Bharat Forge reported a consolidated profit after tax of ₹233.44 crore for the fourth quarter of FY26, compared to ₹282.62 crore in the corresponding period last year. Revenue from operations increased 17.5 per cent to ₹4,528.04 crore during the quarter, while EBITDA rose 14.2 per cent to ₹778 crore. (upstox)
The company secured new orders worth ₹4,814 crore during FY26, including ₹2,816 crore from the defence segment. Its defence order book stood at ₹10,961 crore at the end of FY26, underscoring the growing importance of the sector in Bharat Forge’s overall business portfolio.
