The company also retains an option to acquire an additional stake of up to 20% plus 1 share in subsequent tranches, taking the total potential holding to up to 50% plus 1, subject to conditions laid out in the definitive agreements and applicable approvals.
Fortuna Engineering Private Ltd, incorporated in 1989 and based in Nashik, is engaged in the machining of connecting rods, camshafts (including FIP camshafts), and fixtures used in automotive and off-highway applications. The company has an authorised share capital of ₹12 crore and a paid-up share capital of ₹9.03 crore.
Its financial performance over the last three fiscal years shows revenue of ₹322.50 crore in FY25, ₹329.52 crore in FY24, and ₹342.93 crore in FY23. Net worth stood at ₹173.15 crore in FY25, ₹153.64 crore in FY24, and ₹135.12 crore in FY23.
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Bharat Forge stated that the transaction does not qualify as a related-party deal. None of its promoters, promoter group entities, or group companies have any interest in Fortuna Engineering.
The acquisition aligns with Bharat Forge’s strategy to strengthen machining capabilities and expand forward integration. The company expects the transaction to support value addition and contribute to growth across domestic and export markets.
The acquisition will be executed in tranches and is subject to the fulfilment of conditions precedent under the agreements, including approvals from relevant governmental authorities, where applicable.
The consideration for the initial tranche will be paid in cash, while subsequent tranche pricing will follow a valuation framework agreed between the parties in the definitive agreements.
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Fortuna Engineering operates solely within India and caters to both commercial and passenger vehicle segments as well as off-highway applications.
Amit Kalyani, Vice Chairman and Joint Managing Director, Bharat Forge, said, “We are pleased to enter into this partnership with Fortuna, a leading supplier of machined components for a wide range of applications in India.
We are impressed by the company’s capabilities, operating track record and reputation in the market. We look forward to working closely with the promoters and management team of Fortuna to scale the business further and build on the significant opportunities ahead.”
Suriya Narayanan, Chairman and Managing Director, Fortuna Engineering Private Ltd, said, “We are delighted to welcome Bharat Forge as a strategic partner in Fortuna’s growth journey. This partnership is a significant milestone for us and a strong enabler for our next phase of growth across new products, new customers and new geographies.
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We see this partnership as a powerful opportunity to strengthen our contribution to the ‘Make in India’ vision by building world-class capabilities in India for global requirements. With Bharat Forge’s experience, scale and strategic strength, we believe Fortuna is well-positioned to pursue the next wave of stellar growth opportunities in India and international markets.”
Shares of Bharat Forge Ltd ended at ₹1,892.70, down by ₹14.45, or 0.76%, on the BSE.
