Bharat Forge, one of India’s leading automotive component suppliers, has demonstrated resilience in its standalone financial performance for the fourth quarter and full fiscal year 2025, navigating global headwinds while capitalising on robust growth in its defence sector business.  The company showcased a steady performance despite challenges in certain international markets.

For Q4 FY2025, Bharat Forge recorded standalone revenues of INR 21 billion, with an EBITDA of INR 6 billion, translating to a healthy EBITDA margin of 29.1 percent. The company also reported a Profit Before Tax (PBT) of INR 4.9 billion.

For FY2025, Bharat Forge reported standalone revenues of INR 88 billion, a marginal dip of 1.4 percent compared to the INR 89 billion recorded in FY2024. Despite this slight decrease in revenue, the company managed to improve its profitability, with EBITDA at INR 25 billion (EBITDA margin of 28.5 percent) and PBT at INR 19 billion, both showing a marginal improvement compared to the previous fiscal year. The company also highlighted a strong balance sheet with cash on books of INR 26 billion.

The company stated that FY25 Revenues remained flat despite weakness in European CVs, mixed performance in export PV business. Oil & Gas recouped from the lows of FY24 while Defence displayed steady growth.

At a consolidated level, Bharat Forge reported revenues of INR 15.1 billion in FY2025, remaining relatively flat compared to the INR 15.6 billion in FY24. However, the company saw a significant improvement in consolidated EBITDA margins, rising from 16.4 percent to 18.2 percent.

A significant highlight of the year was the strong order inflow, particularly in the defence sector. During Q4 FY25, the company secured new orders worth INR 43 billion, including a substantial INR 34 billion towards the ATAGS order. As of March 2025, the defence order book stood at a robust INR 94 billion. For the entire fiscal year, the Bharat Forge group secured new orders worth INR 69 billion, with the defence sector accounting for an impressive 70 percent of these new wins.

The company also highlighted the strong performance of its ferrous castings business, which witnessed significant growth with revenues increasing by 23 percent, EBITDA by 35 percent, and a doubling of profits compared to FY2024. Key return ratios for this segment exceeded 20 percent.

Looking ahead to FY2026, Bharat Forge outlined its strategic focus on improving consolidated profitability through several internal actions. These include reducing losses in the e-mobility vertical, evaluating options for the steel business in Europe, improving operational performance in the aluminium business, leveraging North American manufacturing footprint and focusing on new business wins across traditional forgings, defence, aerospace and castings. The company also anticipates the integration of the AAM India business in FY2026, which is expected to further enhance its product portfolio and presence in the Indian market.

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Autoverse Mobility announced a series of technical and service initiatives at Motor Mechanic Day 2026 to address transparency and parts authenticity in the Indian automotive aftermarket. The digital distributor is introducing traceability systems and certification programmes to support garage operations.

The company has launched a warranty programme for multi-brand garages underpinned by an advanced traceability system. This platform allows for the verification and tracking of genuine parts across the supply chain.

To improve consumer access to verified providers, Autoverse introduced a WhatsApp-based mechanic discovery feature. This tool connects vehicle owners with garages that utilise verified parts, aiming to standardise service reliability.

Autoverse Mobility, in partnership with Paracoat Products, unveiled Pynoseal, an underbody coating solution for vehicle durability.

Recognising the shift toward electrification, the company launched an EV Mechanic Certification Programme. This initiative focuses on – technical training, workshop digitalisation, industry collaboration with direct engagement with component brands such as Sumax Industries, Lumax Auto and Delux Bearings.

Rama Shankar Pandey, Co-Founder, Autoverse Mobility, said, “As vehicles become more advanced and electrified, the role of mechanics is becoming even more critical to the reliability and safety of mobility. The future of mobility will not just be defined by vehicles, but by the strength of the ecosystem that supports them. For too long, the aftermarket has operated with fragmentation, limited transparency, and unequal access to quality parts and capabilities. By empowering mechanics with the right tools, trust, and opportunities, we are enabling a more reliable, transparent, and scalable aftermarket for India through Autoverse Mobility. Our vision is to fundamentally redefine how India services its vehicles while significantly reducing the need for heavy CAPEX.”

Mihir Mohan, Founder and CEO, Autoverse Mobility, added, “Through our new initiatives, we aim to strengthen an ecosystem where garages can operate with confidence and customers can rely on every repair. As mobility evolves, especially with the shift to electric, enabling mechanics with the right capabilities and access will be critical to the future of the aftermarket. Motor Mechanic Day 2026 reflects our commitment to bringing the industry together while laying the foundation for a more trusted, transparent, and future-ready automotive aftermarket in India.”

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Bosch and Tata AutoComp Systems (TACO) have announced a 50:50 joint venture to develop electric vehicle components for the Indian market. The partnership, headquartered in Pune, is scheduled to begin operations by mid-2026, pending regulatory approvals.

The joint venture will specialise in the engineering, manufacturing and sales of eAxle systems and electric motors. This initiative is designed to localise global powertrain technologies for passenger cars and specific commercial vehicle segments in India.

Bosch has invested EUR 6 billion globally in e-mobility research and development. This agreement allows the company to transfer its technical expertise to the Indian automotive ecosystem, which is currently the third largest in the world. The collaboration aims to provide scalable technology solutions that meet increasing demand for domestic production and sustainable transport.

Guruprasad Mudlapur, President, Bosch Group in India and Managing Director of Bosch, said, ‘‘At Bosch, we strongly believe that Battery Electric technology is the definitive path to achieving low emissions in passenger cars and select commercial vehicle segments. Our joint venture with Tata AutoComp is designed to accelerate the adoption of these technologies by delivering efficient, state-of-the-art e-Mobility solutions to our customers.”

Sandeep Nelamangala, Joint MD, Bosch and President of Bosch Mobility India, said, “Mobility market worldwide is going through a transformation and India is no different. E-mobility is a strategic field for us and is evolving rapidly. Our customers are asking for cutting-edge global solutions to be made locally in India. This is exactly what the joint venture aims to do.”

Arvind Goel, Vice-Chairman, Tata AutoComp, added, “India’s mobility ecosystem is undergoing a rapid transformation driven by electrification, localisation and the need for scalable technology solutions. This joint venture between Tata AutoComp Systems and Bosch brings together complementary strengths in engineering, technology and manufacturing to accelerate the development of advanced e-mobility solutions for the Indian market.”

Karsten Muller, Executive Vice-President, Manufacturing and Quality, Electrified Motion, Robert Bosch, said, “India being world’s third largest automotive market, Bosch aims to leverage stronger opportunities for its business in India. This planned partnership with TACO further cements our presence in e-mobility, enabling us to deliver cutting edge global solutions locally in India including engineering and manufacturing expertise.”

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German tier 1 supplier ZF Friedrichshafen has improved its operating performance in fiscal year 2025, exceeding its initial guidance for profit and cash flow despite a volatile global market. The technology group reported sales of EUR 38.8 billion, representing an organic growth of 0.6 percent when excluding currency and M&A effects.

The Group stated it prioritised financial resilience through disciplined deleveraging and operational efficiency. Adjusted EBIT increased to EUR 1.7 billion, with the margin rising to 4.5 percent from 3.5 percent in 2024. Free cash flow reached EUR 1.4 billion, significantly exceeding the guided target of EUR 500 million.

Financial liabilities were reduced by approximately EUR 250 million, bringing net debt to EUR 10.2 billion. The company reported a net loss of EUR 2.1 billion, primarily due to a one-time EUR 1.6 billion charge from the early termination of non-profitable electric mobility projects.

ZF is undergoing a strategic refocusing to strengthen its long-term competitiveness.

• ADAS Sale: The Group agreed to sell its passenger car Advanced Driver Assistance Systems (ADAS) business unit to Harman Inc. for an enterprise value of EUR 1.5 billion. The transaction is expected to close in late 2026.
• Electrified Powertrain Technology: Division E is being restructured independently to improve competitiveness. While some unprofitable projects were terminated, the division secured major awards, including electrified transmission contracts for the BMW Group.
• Workforce Adjustments: The global workforce declined by 5 percent to 153,153 employees. In Germany, personnel capacity is being lowered through voluntary measures such as attrition and severance packages.

Despite market challenges, ZF stated it continued to focus as a major investor in research and development. The company invested EUR 3.3 billion in R&D (8.6 percent of sales) and EUR 1.8 billion in capital expenditures.

In February 2026, ZF successfully placed a EUR 1 billion bond with a six-year maturity, which was six times oversubscribed. The Group anticipates sales of more than EUR 38 billion and an adjusted EBIT margin between 4 percent and 5 percent, assuming stable market conditions.

Mathias Miedreich, CEO, ZF, said, “Operationally, we surpassed our 2025 targets. The fact that our efficiency program is gaining traction encourages us to stay the course. Performance and profitability take precedence over sales and size. But we also know: continuing our upward path will require full focus and maximum effort across the Group. The numbers reflect our past, while our business momentum points to our future. We will steadily rebuild the level of profitability our owners – and we ourselves – expect.”

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The 11th annual ASIABRAKE conference and exhibition recently concluded in Gurugram, Delhi NCR. The three-day event brought together over 350 delegates, 25 speakers and 60 exhibitors from the global automotive and braking sectors to discuss safety, sustainability and the transition to electric mobility.

The event was inaugurated by Tarun Agrawal, Sr. Executive Officer & Head of Engineering at Maruti Suzuki India and Vivek Trivedi, Senior Executive Vice-President, R&D at Maruti Suzuki India.

Technical and research insights were provided by Professor Francesco Massi of the University of Rome - La Sapienza and Professor Georg Ostermeyer from the Technical University of Braunschweig.

Key topics addressed during the sessions included Electrification – the impact of EV and hybrid powertrains on braking system requirements. Testing Standards – advancements in brake testing procedures and systems. Materials Science – emerging trends in friction materials and sustainable component manufacturing.

Leading organisations in attendance included Toyota Motor Corporation, Tata Motors, Brakes India, Brembo Brake India and ITT Friction Technologies. The accompanying exhibition served as a commercial platform for technology providers and component manufacturers to display new materials and braking solutions.

Kuldip Singh Rathee, Chairman & Managing Director, ASK Automotive, said, “The automotive industry is undergoing a fundamental transformation driven by electrification, sustainability, and digital innovation. India is steadily emerging as a key global hub for automotive growth, supported by strong policy frameworks and manufacturing capabilities. As vehicles evolve, braking systems will continue to play a critical role in ensuring safety, reliability, and performance, and it is imperative for the industry to continuously innovate and collaborate to meet these expectations. This year, we have yet again witnessed meaningful discussions, valuable insights, and strong collaboration across the global automotive community. ASIABRAKE continues to serve as an important platform for knowledge exchange, fostering partnerships, and driving collective progress for the industry. We look forward to building on this momentum in the years ahead.”

Aman Rathee, General Chair, ASIABRAKE 2026, commented, “ASIABRAKE has grown into a truly global platform that brings together the entire ecosystem, from OEMs and suppliers to academia and technology experts. It is not just a technical conference, but a space where ideas translate into partnerships and opportunities. The strong international participation this year reflects the increasing relevance of this forum in shaping the future of mobility.”

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