Bharat Forge Limited has signed a landmark contract with the Ministry of Defence (MoD) for the supply of 184 indigenously developed Advanced Towed Artillery Gun Systems (ATAGS), the company announced on Wednesday. The contract, valued at ₹4,140 crore, represents 60 per cent of the total ₹6,900 crore procurement program for the 155mm/52 calibre artillery system.
The shares of Bharat Forge Limited were trading at ₹1,188.80 up by ₹5.90 or 0.50 per cent on the NSE today at 12.25 pm.
The deal, signed in the presence of Defence Secretary Rajesh Kumar Singh, marks a significant milestone for the Pune-based multinational. Baba Kalyani, Chairman and Managing Director of Bharat Forge, emphasised the contract’s importance as a testament to the government’s Atmanirbhar Bharat (self-reliant India) vision in defence manufacturing.
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Developed jointly with the Defence Research and Development Organisation (DRDO), the ATAGS represents a breakthrough in indigenous defence technology. The contract underscores Bharat Forge’s strategic capabilities in high-performance critical components and solutions for defence and aerospace sectors.
The company, which boasts a global manufacturing presence across five countries, has positioned itself as a key player in India’s defence indigenisation efforts. This contract not only strengthens the company’s defence portfolio but also supports the government’s push for domestic defence manufacturing.
