Patience Perseverance
Matters Counts
Growing the sustainable way
ANNUAL REPORT 2020-21
Welcome to Our Annual Report
2020-21
Read the report online at
www.bharatforge.com
Corporate
Information
Bankers | Auditors |
Bank of India | S R B C & Co LLP |
Bank of Baroda | Chartered Accountants |
Bank of Maharashtra | |
Canara Bank | Company Secretary |
State Bank of India | Ms. Tejaswini Chaudhari |
HDFC Bank Ltd. | |
ICICI Bank Ltd. | |
Axis Bank Ltd. | |
Citibank N.A. | |
Standard Chartered Bank | |
Credit Agricole CIB | |
HSBC Ltd. | |
JP Morgan Chase Bank N.A. | |
Deutsche Bank AG | |
Kotak Mahindra Bank Ltd. |
Registered Office
CIN: L25209PN1961PLC012046
Bharat Forge Limited
Mundhwa, Pune Cantonment,
Pune - 411 036, Maharashtra, India.
Phone: +91 20 6704 2777 / 2476
Fax: +91 20 2682 2163
Email: secretarial@bharatforge.com
Web: www.bharatforge.com
Inside This Report
02Corporate
Overview
02 About the Report
04 About Bharat Forge Limited
- Building New Businesses Around Future Technologies
- Bharat Forge Engineering Embedded in DNA
- Strengthening Our Global Presence
- A Resilient Business Model Built with Perseverance
- A Message from the Chairman and Managing Director
- Board of Directors
- Performance Highlights of the Year
-
Financial Capital
Strengthening Finances with Prudence and Perseverance
- Manufactured Capital
Building on Scale and Operational Excellence
- Intellectual Capital
Fostering a Culture of Innovation
- Human Capital
Propelling Progress by Unlocking the People-Potential
- Social and Relationship Capital Supporting Customers in Challenging Times
-
Natural Capital
Operating Responsibly for a Sustainable World
46Statutory
Reports
46 Management Discussion and Analysis
59 Board's Report
85 Report on Corporate Governance
120108 Business Responsibility Report
Financial
Statements
- Standalone Financial Statements
- Consolidated Financial Statements
BHARAT FORGE LIMITED
Annual Report 2020-21
p. 2
About the Report
Basis of Reporting
This is our second year of presenting the Report following the principles of Integrated Reporting as stated by International Integrated Reporting Council (IIRC). Such reporting has emerged as a global benchmark for best practice in corporate reporting for its transparency and disclosures beyond statutory norms. In this Report, we provide a holistic insight on our value creation process using six capitals - Financial, Manufactured, Human, Intellectual, Social & Relationship and Natural Capitals. We also cover information on material matters, governance, performance and prospects in context of external environment. This will help stakeholders evaluate our performance and take an informed decision regarding their engagement with us.Reporting Principle
We have prepared this Report in accordance with the Companies Act, 2013 (and the Rules made thereunder), Indian Accounting Standards, the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the Secretarial Standards. We have also followed the principles of as stated by International Integrated Reporting Council (IIRC).Boundary and Scope of
Reporting
The Report covers financial and non-financial information and activities of Bharat Forge Limited, India for the period of April 1, 2020 to March 31, 2021.
Forward-looking Statements
Certain statements in this Report regarding our business operations may constitute forward-looking statements. These include all statements other than statements of historical fact, including those regarding the financial position, business strategy, management plans and objectives for future operations. Forward-looking statements can be identified by words such as 'believes', 'estimates', 'anticipates', 'expects', 'intends', 'may', 'will', 'plans', 'outlook' and other words of similar meaning in connection with a discussion of future operating or financial performance.
Forward-looking statements are necessarily dependent on assumptions, data or methods that may be incorrect or imprecise and that may be incapable of being realized and as such, are not intended to be a guarantee of future results, but constitute our current expectations based on reasonable assumptions. Actual results could differ materially from those projected in any forward-looking statements due to various events, risks, uncertainties and other factors. We neither assume any obligation nor intend to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
BHARAT FORGE LIMITED | Corporate Overview | Statutory Reports | Financial Statements | ||||
Annual Report 2020-21 | |||||||
p. 3 | About the Report | ||||||
Our Capitals
Financial Capital It represents the capital employed in the business to support our operations and business strategy for generating surplus for the investors and shareholders.
Human Capital It represents the competencies, experience and motivation of our people that enable us to innovate, run business smoothly, serve customers and achieve business strategy.
Manufactured Capital It represents the state-of-the-artmanufacturing facilities and equipment in which we have invested financial capital to enable manufacturing of diverse range of products for customers.
Social and Relationship Capital It represents the quality of relationship with our customers, business partners and the communities which enhances our reputation, and facilitates in business growth and giving back to the society.
Intellectual Capital It represents our Research and Development (R&D) capabilties, technical excellence and digital readiness that provides us competitive edge in the industry.
Natural Capital It represents the renewable and bring together please environmental resources that we use in our operations as well as the impact of our operations on the environment.
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Bharat Forge Limited published this content on 19 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 July 2021 11:16:09 UTC.