Baba Kalyani's Invisible Wealth

Mention Baba Kalyani and the first (and in many cases, only) company that comes to mind is Bharat Forge, and for very good reasons, too. It is his flagship, accounts for almost 50 per cent of the group's turnover, and is the second-largest forgings company in the world. But the Kalyani Group also has four other listed companies-Kalyani Steels, Automotive Axles, Hikal and bf Utilities-with a combined turnover of Rs 1,500 crore and combined net profit of over Rs 175 crore. That's not all. The group's nine unlisted companies clock combined sales of Rs 1,796.3 crore and profits of Rs 143 crore (see The New Wealth Creators). Bharat Forge remains the fulcrum of the group's fortunes, but it is the smaller companies that are driving Kalyani's ambitions in the steel, auto ancillary and software and BPO sectors.

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