Bharat Forge Limited's wholly owned subsidiary Kalyani Strategic Systems Limited (KSSL) has entered into a strategic partnership with Garden Reach Shipbuilders & Engineers Ltd. (GRSE) to advance India's indigenous shipbuilding capabilities. The Memorandum of Understanding was signed on March 05, 2026, in Kolkata, marking a significant step toward strengthening the country's marine engineering sector.

Strategic Partnership Details

The collaboration between KSSL and GRSE focuses on enhancing India's shipbuilding capabilities across multiple critical areas:

Indigenous Solutions for Maritime Defense

The partnership envisages collaboration between both organizations based on their mutual strengths to provide indigenous solutions in ship propulsion for naval and commercial vessels. This initiative is expected to contribute to the enhancement of India's maritime technological strengths while promoting self-reliance in the marine segment for long-term operational capabilities.

The collaboration aligns with India's Atmanirbhar Bharat initiative, supporting the country's vision of achieving self-reliance in defense manufacturing and maritime technologies.

About the Partner Organizations

Garden Reach Shipbuilders & Engineers Ltd. operates as a leading Indian shipyard under the administrative control of the Ministry of Defence. Headquartered in Kolkata, GRSE specializes in the design and construction of advanced warships for the Indian Navy and Indian Coast Guard, including frigates, corvettes, and patrol vessels.

Kalyani Strategic Systems Limited leverages more than five decades of expertise in design, engineering, and manufacturing to develop advanced defense technologies. The company operates across multiple platforms including:

• Artillery systems
• Protected vehicles
• Ammunition manufacturing
• Air defense systems
• Marine systems
• Defense electronics

Strategic Impact

This partnership represents a significant development in India's defense manufacturing ecosystem, combining GRSE's established shipbuilding expertise with KSSL's advanced engineering capabilities. The collaboration is positioned to strengthen India's maritime defense infrastructure while reducing dependence on foreign technology and suppliers in critical marine engineering components.

Bharat Forge Limited has issued a comprehensive clarification to stock exchanges following queries about news items related to the company's North American Class 8 truck market exposure. The clarification addresses concerns raised by both BSE and NSE regarding potential undisclosed developments, with the company confirming no active negotiations or hidden material events.

Exchange Query Response

The company responded to four specific queries from the exchanges regarding potential negotiations, undisclosed information, regulatory proceedings, and material impact. Bharat Forge confirmed that it operates in the commercial vehicle segment, including exposure to the North American Class 8 truck market as part of its ordinary course of business.

Regulatory Compliance Confirmation

Bharat Forge emphasized that the referenced news appears to be based on monthly industry-level data and broader market trends relating to North American Class 8 truck orders, rather than company-specific developments. The company stated that there are no specific negotiations, events, or material developments currently underway that require disclosure under Regulation 30 of the SEBI (LODR) Regulations, 2015.

Market Impact Assessment

The company clarified that it is not aware of any material information or event that has not been disclosed to the stock exchanges which could have a bearing on the price or volume movement in the company's shares. Bharat Forge confirmed that it has been making timely disclosures of all material events and information as required under applicable regulations.

Official Communication Details

The clarification was signed by Tejaswini Chaudhari, Company Secretary and Compliance Officer, and submitted in response to communications from both exchanges. The company stated that the news article does not pertain to any specific undisclosed event or development relating to the company, and accordingly, there is no material impact on its operations or financial position.