Bharat Forge Limited (BSE:500493) is looking for M&A opportunities. Amit Kalyani, Vice Chairman and Joint Managing Director said "In terms of defense, I just want to mention one thing, please don't look at quarterly revenues because these are not quarterly kind of businesses, please look at it on a Y-o-Y basis. And as we have mentioned, we are guided for a strong Y-o-Y growth, and we maintain that.

In terms of M&A opportunities, there are plenty of opportunities, but we are looking at opportunities which are synergistic, which are complementary and where we can significantly add value and go from components to systems, get into new products, new sectors, new geographies and also where we can expand the Make in India strategy that we have".