Bharat Forge along with its subsidiary, BF Industrial Solutions have completed the previously announced acquisition of JS Autocast Foundry India at an enterprise value of Rs 489.63 crores.
Bharat Forge in a statement noted that this acquisition will significantly enhance its capabilities and addressable market segments both domestically and in export markets, especially in niche industrial segments.
JS Autocast has been recently granted environmental clearance to expand its existing foundry operations at SIPCOT from 21,768 tonnes per annum to 72,000 TPA. This coupled with 28,800 TPA foundry capacity at Coimbatore, provides a significant growth platform for the company. In the automotive segment, JS Autocast manufactures different types of automotive turbine housings, 3 Cylinder exhaust-manifold, brake disc, engine mount and base trunnion.
JSA will focus on enhancing its product portfolio from current small castings to address opportunities in medium sized castings for both renewable and other industrial applications. In the next three years, JSA will start manufacturing ‘green castings’ utilising 100 percent renewable energy and raw material which is predominantly recycled scrap. In FY22, JSA recorded revenue Rs 416.87
crores, growth of 59.5 percent as compared to FY21. In the automotive segment, JS Autocast manufactures different types of automotive turbine housings, 3 cylinder exhaust-manifold, brake disc, engine mount and base trunnion.