Bharat Forge is charting out plans to reduce dependence on just a few markets or a few products by expanding its customer base and its geographical presence. Kalyani said that the company had made forays into the non-automotive forgings business. The company also introduced some new products in the construction equipment and oil & gas industry. Additionally, Bharat Forge developed valves, a proprietary product, for offshore high pressure pump with over 5000 PSI. The company is exploring opportunities in the European market after building a significant presence in the US market.

"The first target is to achieve a target of $10 million in each of these expansion areas taking the total turnover up by $30 million in three to four years' time," Kalyani said Another key strategy for growth would be penetrating the market for small forgings. The company has less than 10 per cent of this market at present and plans to have around 25 per cent of the small forgings market in five years' time. Exports contributed 20 per cent to BFL's total sales. Kalyani wants exports to account for about 25 per cent of the company's sales in two to three years' time. During 1999-2000, manufacturing sales went up 24 per cent to Rs 567 crore while profit after tax (PAT) has seen a 68 per cent growth to Rs 62.6 crore. Return on net worth has gone up from 9.1 per cent the previous year to 15.6 per cent during 1999-2000. During the year, the company commissioned its second 16,000 ton forging press line .