Bharat Forge Limited, in collaboration with VRDE (DRDO), has successfully launched the Vikram VT 21 project, marking a significant achievement in India's defence manufacturing sector. The advanced armoured platforms represent a breakthrough in indigenous defence technology development, showcasing the effectiveness of public-private partnerships in creating battle-ready military equipment within an accelerated three-year timeline.

Project Overview and Development

The Vikram VT 21 project encompasses the development of two distinct platforms designed for modern warfare requirements. The collaboration brought together multiple stakeholders to create cutting-edge defence solutions, completing battle-ready vehicles within three years from concept to deployment.

Key Leadership and Stakeholder Participation

The launch ceremony witnessed the participation of prominent figures from India's defence establishment and industry. The event highlighted the collaborative approach adopted for this strategic project and the company's preparation to address the Indian Armed Forces' changing requirements.

Technical Achievements and Capabilities

Dr. Samir V. Kamat emphasized that the project demonstrates the effectiveness of the DCPP model in combining DRDO's expertise with industry partners' scale to accelerate platform design and development. Mr. Amit Kalyani highlighted that the Vikram represents a feat of systems engineering, integrating a ruggedised vehicle chassis with an unmanned turret system.

The AAP-Wh achieved its rapid development timeline through continuous engagement and joint problem-solving between all partners. This collaborative approach enabled the transformation from initial concept to a fully combat-ready platform in an unprecedented timeframe of under three years.

Regulatory Approvals and Market Readiness

The Vikram VT 21 has successfully cleared the Technical Evaluation Committee (TEC) for WH-AFV and FICV of the Ministry of Defence, positioning it for potential deployment with the Indian Armed Forces. This regulatory approval also opens opportunities for adaptation to meet the evolving needs of both domestic forces and the global export market.

Strategic Commitment and Future Outlook

Bharat Forge and its wholly owned defence subsidiary, Kalyani Strategic Systems Limited (KSSL), have reaffirmed their commitment to continued partnership with DRDO. The collaboration is driven by the purpose of creating new strategic capabilities for India, with the company prepared to address the Indian Armed Forces' changing requirements through enhanced in-house design and technology capacities to align with futuristic needs for an Atmanirbhar and Sashakt Bharat.

Bharat Forge Limited has successfully completed its postal ballot voting process on April 24, 2026, securing overwhelming shareholder approval for the re-appointment of two key executive directors. The company conducted the voting exercise through remote e-voting only, in compliance with the Companies Act, 2013 and SEBI Listing Regulations.

Resolutions and Voting Results

The postal ballot covered two ordinary resolutions for director re-appointments:

Both resolutions received exceptional shareholder support, demonstrating strong confidence in the leadership team.

Detailed Voting Statistics

The voting results showed remarkable consensus among shareholders across all categories:

Resolution 1 - B.P. Kalyani Re-appointment

Resolution 2 - S.E. Tandale Re-appointment

Voting Process and Timeline

The company conducted the postal ballot exclusively through remote e-voting, with the following key details:

• E-voting Period: March 24, 2026 (09:00 AM IST) to April 22, 2026 (05:00 PM IST)
• Record Date: March 13, 2026
• Total Shareholders: 2,28,158
• E-voting Platform: National Securities Depository Limited (NSDL)

The voting process was conducted under the supervision of Ms. Ashwini Inamdar (FCS 9409, CP 11226) from M/s. Mehta & Mehta, Practicing Company Secretaries, who served as the scrutinizer to ensure fairness and transparency.

Regulatory Compliance and Documentation

Bharat Forge Limited has fulfilled all regulatory requirements under Regulation 44 of the SEBI Listing Regulations. The detailed voting results and scrutinizer's report have been made available on multiple platforms:

• Company website: www.bharatforge.com/investors/shareholders-information/agm-postal-ballot-voting-results
• NSDL e-voting portal: www.evoting.nsdl.com
• Stock exchange websites: www.bse.com and www.nseindia.com

The successful completion of this postal ballot reinforces shareholder confidence in the company's leadership and governance practices, with both directors receiving mandate renewals through an overwhelming majority vote.