Amit Kalyani

Driven by a combination of new business initiatives and M&A over the past 3 years, BFL is now an engineering conglomerate entrenched across processes, customers and segments.

If you look at 2027 as a whole, I think it's going to be a strong year for India manufacturing operations... We should see a close to 25% plus growth in our India business.

We have decided to take a write-off of those investments where we don't see any immediate revenue and business ramp up because it doesn't make sense to spend time and effort on those areas which are not going to give us returns immediately.

Defense has the opportunity to become as big as our business today is overall business is today.

We have to make a profit or we have to take some decisions so we have to see what to do.

The tariff deal being done and the punitive 25% being removed means that we're in a differentiated position than others.

We are weathering the storm far better than companies that are directly playing only in one or two sectors.

We are going to double down on India as most companies in the world are because it's the fastest growing global market with the most headroom for growth.

We are definitely in very interesting times. Given the undercurrents, I would take you through first the numbers and then our team will take your Q&A.

Tariff related uncertainty is definitely something that nobody has ever experienced before and is something that we are engaged with our customers in finding a resolution.

In the medium to longer term, you will see the center of gravity shift back to our India operations as manufacturing India becomes larger and more lucrative.