Pune-based forgings and automotives components major Bharat Forge has announced that it is now targeting the non-auto segment as a major driver of its growth in the years to come. The company's chairman, Baba Kalyani, told company shareholders in the annual general meeting that the non-auto segment is expected to contribute 40 per cent of the company's income by the year 2012. This contribution will come principally from the opportunity in the power sector, Kalyani indicated. The company's facilities for non-auto forgings have begun commercial production and orders from domestic and overseas clients are coming in steadily, he added.

The company has also made a breakthrough in the engineering, procurement and construction business with an order to set up a 450 MW power plant. Earlier, Bharat Forge declared its financial results for the first quarter of 2010-11 during which it earned revenue of Rs 640 crore as against Rs 363 crore it earned during the corresponding quarter of the previous year. The company commissioned a rolling unit in January at Baramati in Maharashtra. It has manufacturing plants at 12 locations, including three in Germany and one each in Sweden, Scotland and the US.