Mumbai, Oct 21 (PTI) Balu Forge Industries Ltd on Monday reported a more than two-fold jump in consolidated profit after tax to Rs 48.1 crore for the September quarter.

The company had delivered a PAT of Rs 23.27 crore in the second quarter of the fiscal 2023-24.

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Its revenue in Q2 FY25 grew 60.1 per cent to Rs 222.8 crore from Rs 139.22-crore a year go, driven by constant focus on client addition and continued demand for the specialised engineering products, Balu Forge India said.

The company's EBITDA (earnings before interest, taxes, depreciation and amortization) during the second quarter surged 116.5 per cent to Rs 65.22 crore from Rs 30.12 crore in the corresponding quarter of FY24, backed by increase in scale of operations and higher demand for heavier products, which tend to yield better margins, it said.

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"Apart from the financial achievement, the current quarter witnessed a number of developments focused on strengthening our capabilities to navigate industry challenges and capitalise on new opportunities, ensuring its competitive edge in a rapidly evolving market," said Trimaan Chandock, Executive Director at Balu Forge Industries Ltd.

The Indian precision engineering industry is on the verge of its next significant growth phase, driven by a rapid transformation as companies globally embrace the China+1 strategy to mitigate supply chain risks. This strategic shift, alongside broader industry changes, unlocks a wealth of opportunities and paves the way for long-term growth, he noted.

"To fully leverage this momentum, we are making substantial investments in strengthening our capabilities, positioning ourselves for strong, positive outcomes in the near future. The new unit progress at Belgaum continues in full swing. The company is on the verge of commercialising the first phase of the new manufacturing campus and it will drive the next leg of growth," he stated.

The company has a strong order book for the existing infrastructure and the planned infrastructure is expected to commercialise in the coming quarters, he said, adding that the 32,000 tonnes of machining capacity will be fully utilised in terms of the order book and the forging output from the initial commercialisation also has clear visibility to fulfil the capacity of the Mercedes Benz production line and the machining capacity expansion which is underway.

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