The slowdown in the automobile markets both in the US and at home has impacted top line numbers for Bharat Forge with revenues for the March 2008 quarter up just over 12 per cent.That pulled down the growth in stand-alone revenues for FY08 to about 17 per cent, with the 8 per cent appreciation of the rupee also hurting the top line of India's biggest auto component player by about Rs 90 crore.
The USA accounts for about 50 per cent of the company's exports, which, in the March quarter grew just 28 per cent in rupee terms but by a higher 40 per cent in dollar terms.
While sales to the commercial vehicles sector suffered ,the company made up for it by selling more to passenger car makers and also by stepping up sales of non-auto components.
In the home market, the Pune-headquartered firm has managed to increase market share with customers such as Tata Motors. For some time now, Bharat Forge has been attempting to de-risk its business model by catering for both commercial vehicles as also passenger cars.
It is also selling to clients across more geographies
