Kalyani Strategic Systems Ltd, a wholly owned defence subsidiary of Bharat Forge, bagged an export order worth Rs 850 crore for the supply of components and armoured vehicle chassis.

The shares of Bharat Forge hit a 52-week high of Rs 991.30 on NSE.

The company said in an exchange filing that Kalyani Strategic Systems Ltd has secured two export orders with an aggregate value of Rs 850 crore from friendly nations for the supply of components and armoured vehicle chassis to be delivered over 18 months.

During its quarterly report for the April-June quarter, the company reported a 34% YoY increase in consolidated net profit at Rs 213.73 crore against Rs 160.37 crore posted in the year-ago quarter.

The revenue from operations was at Rs 3,877.27 crore from the Rs 2,851.46 crore reported in Q1FY23.

At 3:15 pm, shares of Bharat Forge were trading at 980.55 or 1.01% above its previous close on NSE.