Kalyani Strategic Systems Limited (KSSL), a wholly-owned subsidiary of Bharat Forge Limited, has incorporated a new subsidiary named Agneyastra Energetics Limited on July 2, 2025.

This newly formed entity is structured as a wholly-owned subsidiary of KSSL, making it a step-down subsidiary of Bharat Forge. Agneyastra Energetics was established with an initial paid-up capital of ₹1 lakh, with KSSL holding 100% ownership in the company.

The primary objective behind the formation of Agneyastra Energetics is to manufacture high-energy explosives, ammunition, gun propellants, and rocket propellants. The company will also be involved in explosive filling and related energetic material activities, directly supporting the defence sector’s requirements for advanced munitions and propellants.

This move is a strategic step by the Kalyani Group to create an end-to-end defence energetics capability, furthering Bharat Forge’s ambition to expand its footprint in the defence industry and align with India’s self-reliance initiatives under the Atmanirbhar Bharat mission.

The investment in Agneyastra Energetics was made entirely in cash by KSSL, and the transaction does not fall under related-party transactions, as the promoter group of Bharat Forge has no direct interest in the new subsidiary.

The establishment of this company is expected to enhance Bharat Forge’s manufacturing capabilities in defence-specific products, complementing its existing expertise in artillery systems, protected vehicles, ammunition, and defence electronics.

KSSL, under the leadership of the Kalyani Group, has already established itself as a major player in the Indian and global defence sectors, with a proven track record in the design, engineering, and manufacture of advanced defence technology products.

The addition of Agneyastra Energetics is seen as a significant step in strengthening the group’s position as a provider of indigenous, technologically advanced solutions for the Indian armed forces and export markets.

The incorporation of Agneyastra Energetics Limited marks a strategic expansion for KSSL and Bharat Forge, positioning them to meet the evolving needs of the defence sector, support the government’s self-reliance goals, and capture new growth opportunities in the energetics and munitions domain.

Agencies