BALU FORGE INDUSTRIES LTD

Balu Forge Industries Limited, formerly known as Bell Agromachina Limited was incorporated in March, 1989, The Company name was then changed from Bell Agromachina Limited to Amaze Entertech Limited on November 16, 2016 and further changed to Balu Forge Industries Limited on September 30, 2020. The Company was founded under the leadership of Late Mr. Prehlad Singh Chandock. Earlier, the Company was dealing in diversified business primarily in areas of Information Technologies and allied operations on its own or joint ventures with others. As an effect of reverse merger with M/s Balu India, a sole proprietary concern which was incorporated in year 1989, it is a preferred supplier of crankshafts to OEMs in India and around the world with manufacturing facilities at Belagavi in Karnataka. The Company was the first entity in India to mass-produce Crankshafts suitable for Tractor, Trucks and Passenger car applications. The Company developed a very extensive range of components for leading Original Equipment Manufacturers within India and the rest of the world & established a strong aftermarket presence in over 80 countries. The ISO/TS1 6949: 2009 accreditation of units in 2012 by TUV Nord Cert Gmbh added to competitive edge making Balu one of the very few companies to have this accreditation and symbolizing quality & excellence in the field of manufacturing crankshafts. The Company have the capability to forge any components via the closed die production route & offer the same as Raw Forged, Semi Finished, Fully Finished & Fully Assembled. It offer a range of Precision Machining Options & each process is tailored to the component in Production. It also secured & successfully supplied for over 5 years to Defense Forces in two prominent European Countries and executed supply as a single source to these nations. The Company's solution ranges from a range of products through the Space of BEVs /PHEVs /Hydrogen Vehicles. The process involved conventional automotive excellence partnered with the incremental innovation to offer minimum weight, maximum load-bearing capacity, high reliability & overall cost-effectiveness. A state of the art dedicated R&D Centre is presently under construction which will spread over 8000 Square Meters & serve as the backbone of the Company's new direction. The R&D center will also house Naya Energy Work's R&D Division. A number of new material chemistry have been worked on during the many R&D Projects to assess the material compositions & applications of newer metals. The New Energy Era has led to a number of opportunities & rise to newer applications of conventional metals with innovative manufacturing processes. The Company use a number of additive manufacturing methodologies for rapid prototyping & new product development. This ensures flexibility & speed in the New Product Development process & ensures a rapid development of New Prototypes. The use of 3D scanning also adds efficiency & speeds up the entire design & development process. The In-house infrastructure for 3D scanning can measure up to 5 Million points in 2 seconds & 7-20 pm accuracy. The Additive Manufacturing Centre also formulates a good foundation for company's venture in the Aerospace Industry with a large product portfolio that now is possible by the Additive Manufacturing Methodology. 3D printing also is a key area as part of in-house tool room strategy as key components from the manufacturing process can now be produced inhouse in the 3D printing center. The machining facilities are well supported with state-of-the-art Infrastructure namely, Comprehensive In-House Tool Room, Metallurgical Labs, Design & Process Facilities and Inspection & Tests Facilities. The Company is now an avant-garde manufacturer of fully finished and semi-finished forged crankshafts and other forged components. The Company's incremental innovation & continuous strive to improve has awarded by making the only company to have the capability to manufacture components conforming to the New Emission Regulations & the New Energy Vehicles. The Company continually strove to broaden manufacturing base and with the acquisition of state of the art production lines from Poland in the year 2006 and 2011 from France. Its capability has expanded to produce crankshafts up to 2.5 meters in length and the installed capacity has increased to 30,000 fully finished crankshafts per month. In 1991, the first range of component was manufactured and developed at the Company's factory. In 1995, the first component was exported to an overseas market by the Company. In the period of 1999-2004, the Company bagged the ACMA export award for excellence in exports. The Company purchased & installed the Ursus Manufacturing Plant from Ursus, Poland in the year 2006. In 2010, the Company purchased & installed the the Thyssenkrupp Plant from L'horme, France. In 2011, the company successfully achieved the milestone of building a presence in over 80 countries worldwide. In 2012, the Company got accredited with ISO/TS 16949:2009 accreditation from world renowned company TUV NORD. The Company coined Concurrent Engineering' to achieve better flexibility & speed in development of projects during the year 2013. In 2014, the company achieved manufacturing of 1000 crankshafts in a single day. In FY 2014-15, the Company delisted its shares from Bangalore Stock Exchange Limited vide its order dated 22nd August 2014. The Shares of the Company are listed and traded on BSE Limited. During FY 2014-15, the Company reduced the Capital of Company to Rs. 35,00,000 divided into 3,50,000 equity shares of Rs. 10/- each by canceling 31,50,000 equity shares of Rs. 10/- each aggregating to Rs. 3,15,00,000/- after receiving approval from the Hon'ble High Court of Bombay vide their order dated September 26, 2014. In 2015, the Company manufactured & supplied components on railways & military application. In 2016, the Company established as a second source to Bharat Forge in the manufacturing of crankshafts. The Company became a supplier of choice to over 25 OEs spread over 6 Continents in the year 2017. During the year 2017, the name of the Company was change from Bell Agro Machina Limited to Amaze Entertech Limited and the object clause of the Company was altered to include the Object Clauses related to Information Technology and allied areas of operations on January 17, 2017. In 2018, the Company set up operations at the newly acquired Forging Factory. The Company laid the foundation to establish a new 25 acre factory in Belgaum, Karnataka and sought birth of Naya Enery, with a focus on New Energy Solutions. Mr. Jaspalsingh Chandock (Proprietor of M/s. Balu India) had a strategic vision of expansion and to achieve the same, considered business expansion, through reverse merger of M/s. Balu India with Amaze Entertech Limited (the Company). During 2020-21, the Company vide Business Succession Agreement dated 3 August 2021 agreed to acquire the business of M/s Balu India, a sole proprietary concern of which the business was conducted by a Proprietor Mr. Jaspalsingh Chandock. In accordance with the terms and conditions set out in the agreement, in consideration for succession of the business, the Company has issued on preferential allotment basis and Mr. Jaspalsingh Chandock (the Proprietor of M/s. Balu India) has subscribed, 4,78,40,000 Equity Shares of the Company without cash consideration, on 24 September 2020, resulted in the proprietor own the majority of shares and control the majority of votes in the combined entity BFIL. The Company also made preferential allotment of 2,04,25,000 equity shares of Rs. 10/- each for cash at par to the Non Promoters (Public Category). The Company acquired the precision machining unit located at the Mercedes Benz Truck Plant in Mannheim, Germany in FY 2022. The Company embarked on a significant project with the commencement of manufacturing on its new plant in Belgaum, Karnataka in FY 2024. BFIL expanded its capabilities by acquiring specialized assets with an additional 14,000 TPA installed capacity in FY24. The Company further acquired three new state-of-the-art forging lines via combination of hammers and presses of producing 72000 tonnes per annum of heavy forged products, the new equipment including a 16-ton closed-die forging hammer capable of producing forgings up to 800- 900 kgs, a 10-ton closed-die forging hammer, and an 8,000-ton capacity mechanical press for the upcoming greenfield manufacturing campus in Belagavi, Karnataka.