Penal Action On Bharat Forge’s German Subsidiaries: ICICI Direct 
Bharat Forge Ltd.’s machining facility (image: Company website)

Penal Action On Bharat Forge’s German Subsidiaries: ICICI Direct 

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Bharat Forge Ltd. has notified that its German subsidiaries (Bharat Forge Aluminium technik GmbH, Bharat Forge CDP GmbH and Bharat Forge Global Holding GmbH) have reached a settlement with the German competition regulator for potential unfair trade practices in 2004-18.

The company’s German subsidiaries are required to pay in aggregate 32 million pound (approximately Rs 300 crore) as settlement charges over the next five years.

The said judgement comes as a negative surprise. As per our estimates, this could potentially hit the company’s profit and loss in a gradual manner over the next five years.

Click on the attachment to read the full report:

ICICI Direct Bharat Forge Company Update Dec 20.pdf

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