Bharat Forge’s Subsidiary and Spain’s DUMA Form Defence Joint Venture

Bharat Forge Limited’s wholly owned subsidiary, Kalyani Strategic Systems Limited (KSSL), has partnered with Spain-based Duma Engineering Group S.L. (DUMA) to establish a new defence-focused joint venture in Spain. The agreement was formalised on March 27, 2025, with KSSL holding a majority stake.

Joint Venture Structure and Stakeholding

Under the agreement, KSSL will own 90% of the joint venture company, while DUMA will hold the remaining 10%. The stake division is subject to conditions specified in the agreement. The partnership does not qualify as a related-party transaction, as DUMA has no affiliation with Bharat Forge’s promoters or associated entities.

Defence Technology and Market Focus

The joint venture aims to develop advanced technology and product platforms for the defence sector, catering to the needs of India, Europe, and select export markets. This collaboration is expected to strengthen Bharat Forge’s presence in the global defence industry while leveraging DUMA’s expertise in engineering solutions.

Bharat Forge Share Performance 

As of March 28, 2025, at 2:25 PM, Bharat Forge share price was trading at ₹1,173.10 per share, reflecting a decline of 0.26% from its previous closing price.

Conclusion

The joint venture between KSSL and DUMA marks a strategic expansion for Bharat Forge in the defence sector, reinforcing its international footprint and commitment to technological advancements.

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