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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Gulf Oil Lubricants India, a Hinduja Group company, has reported record financial results for Q3 FY2026 and 9-month period ending 31 December 2025. The company achieved record highs in quarterly volumes, revenue and EBITDA.

On a consolidated basis, quarterly revenue from operations reached INR 10.17 billion, a 10.56 percent increase compared to the same period last year.

For Q3 FY2026, EBITDA came at INR 1.32 billion, up 7.8 percent, as against INR 1.22 billion last year. Net profit came at INR 761.3 million, down 21.77 percent YoY, as against INR 973.2 million a year ago. The profitability was impacted to estimated obligations of INR 226.4 million for standalone and INR 227.8 million for consolidated financials due to new labour codes effective from 21 November 2025. Additionally, the previous year's Q3 results included a one-time gain of INR 119.7 million from the sale of land and buildings. Excluding these factors, PAT growth was 7.40 percent YoY.

The 9-month consolidated revenue crossed the INR 30 billion mark, which marked a 12.04 percent YoY increase. Net profit came at INR 2.55 billion, down 3.55 percent YoY, as against INR 2.64 billion. 

In terms of business performance, lubricant volume grew by 8 percent, outperforming the industry average. Growth was reported in the B2C segment, led by Passenger Car Motor Oil (PCMO) and Agri sales, and across B2B segments including industrial, infrastructure and mining. The OEM Franchise Workshops business also recorded double-digit growth.

Tirex, the company’s electric vehicle (EV) charging subsidiary, reported top-line growth of 83 percent for Q3 FY2026. The business partnered with Mahindra & Mahindra to establish EV charging stations for a highway initiative.

Ravi Chawla, Managing Director & CEO, Gulf Oil Lubricants India, said, “The quarter has been a strong one for us, with all-time high quarterly Volumes, Revenue, and EBITDA. Demand and sales picked up in the second half of the quarter post the prolonged monsoon and festivities. Overall lubricants volume grew by 8 percent, clearly outperforming industry growth by 2x, supported by double-digit growth in key segments of B2C led by Passenger Car Motor Oil (PCMO) & Agri and across B2B segments.”

Manish Gangwal, Whole-Time Director & CFO, Gulf Oil Lubricants India, said, “Q3 delivered encouraging performance across all key financial parameters, reflecting the strength of our execution capabilities. We recorded healthy double-digit topline growth for both the quarter and the nine-month period, supported by higher volumes and an improved product mix. Stable commodity prices contributed to gross margin expansion, enabling us to achieve our highest-ever quarterly EBITDA of INR 1.3 billion.”

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Tier 1 automotive supplier Tata AutoComp Systems has inaugurated two new manufacturing facilities in Sanand, Gujarat. The expansion includes one plant for TM Automotive Seating Systems and another for TACO Air International Thermal Systems.

The commencement of these operations brings Tata AutoComp’s total presence in the Sanand manufacturing hub to more than eight plants. The facilities are intended to support Original Equipment Manufacturers (OEMs), including Tata Motors and the company's export operations.

The new units are part of a strategy to provide proximity to customers and leverage the local vendor ecosystem. This move aims to enable deeper localisation, reduce lead times and increase supply chain resilience for next-generation mobility platforms.

Arvind Goel, Vice-Chairman, Tata AutoComp Systems, said, "These new facilities mark a significant milestone in Tata AutoComp’s strategic growth, enhancing our ability to support OEM partners and respond effectively to evolving platform requirements. Sanand, as a long-term manufacturing hub, provides proximity to key customers and a strong vendor ecosystem, enabling deeper localization, faster lead times, and a more resilient supply chain. We are expanding our capabilities to deliver world-class quality and operational excellence to our customers. Building on this momentum, we plan to establish several additional plants across India this year, further strengthening our footprint and capacity to meet the future needs of the automotive industry."

Manoj Kolhatkar, MD & CEO, Tata AutoComp Systems, added, “These future-ready plants are designed to advance sustainability and deliver auto component solutions aligned with next-generation mobility platforms in India, enabling us to proactively address the evolving needs of our customers and the industry. People, quality, safety and environment will remain the cornerstones of our manufacturing excellence as we expand and set up new plants across the country to Make in India.”

Sudhir Chikhle, Chief Purchasing Officer, Tata Motors (PV & EV), said, "Tata AutoComp has been a valued partner to Tata Motors Limited, consistently demonstrating a strong customer-centric approach, responsiveness, and reliability. Their collaborative mindset and ability to support us across programs have contributed immensely to our operational and business objectives."

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Nippon Paint India, a member of the NIPSEA Group, has appointed Jenender Anand as Vice-President of its Automotive Refinish (NPIAR) business. Anand will oversee the automotive refinish portfolio in India, as well as operations for Nippon Paint Nepal and the IndoKote business.

The appointment is part of the company's ‘India-focused’ strategy and follows the implementation of a unified operating model. He will report to Sharad Malhotra, Managing Director of the Nippon Paint (India) Group.

Anand comes with over three decades of experience in marketing, business development and operations. He has worked extensively with Original Equipment Manufacturers (OEMs) in the passenger vehicle, commercial vehicle and two-wheeler sectors.

Prior to joining Nippon Paint India, he was the President of the Automotive and Power Cable Vertical at Svarn Group. He has also held senior leadership positions at Exxon Mobil Lubricants India and also worked with Goodyear India, MRF Tyres, Shriram Pistons & Rings and Revolt Motors in the past.

The leadership change is intended to integrate the group’s automotive and industrial segments under a single framework. Anand will be responsible for strategic direction, governance and revenue growth across the designated regions.

Sharad Malhotra said, “Jenender’s appointment strengthens our leadership depth at a critical phase of our India journey. His extensive experience across automotive and industrial ecosystems, combined with his ability to build and integrate high-performing teams, will be valuable as we scale our Indian Automotive Refinish, Nepal and IndoKote businesses under a unified and disciplined operating framework.”

Jenender Anand added, “I view this as a strong platform to drive meaningful impact by leveraging my experience in OEM engagement and strategic market expansion. With a structured approach, I am confident we can unlock new value through operational excellence and stronger customer alignment. I look forward to contributing to the broader organisational vision and driving sustainable revenue growth.”

The move aligns with the group's ‘OneNess’ initiative, which aims to synergise capabilities across its manufacturing and service divisions in India.

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Marking a substantial expansion of its production footprint, Taural India has commissioned a new advanced aluminium sand casting facility in Supa, Maharashtra. This strategic development, inaugurated by Maharashtra Chief Minister Devendra Fadnavis, establishes a second manufacturing hub for the company following its initial plant in Pune, reinforcing the region's profile in sophisticated industrial casting.

Encompassing 30 acres, the facility is engineered to meet exacting global standards, employing automation, digital controls and rigorous quality systems. It is dedicated to producing intricate, high-precision aluminium components destined for critical sectors including aerospace, defence, railways, energy, mobility and industrial infrastructure. This investment significantly boosts the company's capacity to cater to domestic and international market demand.

The project delivers considerable socio-economic benefits, anticipating the creation of over 1,200 direct jobs alongside numerous indirect opportunities in local supply chains and support services. By anchoring advanced manufacturing in a Tier II location, the initiative fosters skilled employment in regional communities, alleviating urban migration pressures and supporting balanced industrial growth across the state.

Originating from a Memorandum of Understanding signed at the 2025 World Economic Forum in Davos, the plant's journey from commitment to operational reality within a single year highlights Maharashtra's effective project execution capabilities. This timely development strengthens the state's position as a competitive manufacturing destination and aligns with national objectives to integrate more deeply into global value chains.

Chief Minister Devendra Fadnavis said, “Taural India’s journey stands as a powerful example of how Indian entrepreneurs can build globally competitive, world-class manufacturing enterprises rooted in innovation, partnerships and purpose. Facilities such as Supa also play an important role in driving growth beyond metro cities and supporting the state’s long-term economic ambitions.”

Bharat Gite, Founder and CEO, Taural India, said, “This facility represents the next phase of our manufacturing journey in India. It strengthens indigenous aluminium casting capability, creates skilled employment in regional markets and demonstrates that Indian enterprises can build and scale high-precision manufacturing at global standards while contributing meaningfully to local communities.”

Lothar Thoni, JV Partner, Taural India and Owner, Thoni Alutec, said, “India is increasingly central to global manufacturing strategies. Facilities like Supa show how global engineering standards and local execution can come together to build sustainable manufacturing capability at scale, a model that international manufacturers can confidently invest in.”

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