Krishanveer Forge is a specialist manufacturer of large, shaped open die forgings - the kind of high-strength metal components that go into oil rigs, power plants and heavy machinery - operating from a single factory in India’s Pune forging cluster. The company was founded in 1990, and since its 2016-17 acquisition by Western India Forgings Pvt Ltd (WIFPL), it has leaned on its parent’s scale and customer relationships to serve demanding industrial buyers, particularly in the global oil and gas sector. Its recurring approach is to run a compact, technically capable forge shop that can produce components most smaller rivals cannot - up to 9 tonnes in a single piece - and to sell them through a mix of direct relationships and its parent’s selling network. # Business segments A single-engine forging business that makes its money from one activity - shaping steel into critical industrial components - supported by a captive solar plant built to lower its power bill. ## 1. Open die forgings: the company’s sole manufacturing engine **KVFL runs what it calls a “Unique Open Die Forge Shop in the country,” producing heavy, complex steel shapes that go into the world’s oilfields, power-transmission systems and construction equipment.** - **Big, shaped forgings others struggle to make** - the factory is built around a 1,600-tonne press with a 12-tonne manipulator, letting it forge single pieces weighing up to 9 tonnes, including complicated profiles like Khuff blocks, Y-blocks, studded tees and gate-valve bodies. That size and complexity is rare among India’s roughly 3,000 forging companies, most of which are small and medium enterprises. - **Oil and gas is the anchor customer** - the industry is described as a major dependency and the primary export driver, with KVFL serving “oil and gas major players of the world”. Beyond oil and gas, the same forgings feed into infrastructure, mining, power transmission, construction and general engineering, giving the company diversification across heavy-industrial cycles. - **In-house testing keeps customers from walking** - the company runs its own mechanical and hardness lab with ultrasonic, magnetic-particle and dye-penetrant testing, and its heat-treatment facility meets API 6A standards. It holds ISO 9001, ISO 14001 and ISO 45001 certifications from DNV, and has applied for full American Petroleum Institute certification to open more international doors. - **Sold through a parent-company pipeline** - KVFL reaches customers both directly and through a selling-agent agreement with its holding company WIFPL, which takes a 1% commission on net sales. A significant portion of the business flows through related parties, with proposed transactions with WIFPL representing 37.19% of the prior year’s consolidated turnover. - **A tight ship with 68 people** - as of March 2025, the entire operation ran with 68 skilled professionals, down from 72 three years earlier, reflecting a focus on consolidation and maximum utilisation of existing capacity rather than headcount growth. # Captive solar plant **A 1-megawatt solar installation built to cut the factory’s electricity costs - not a separate business, but a cost-side tool serving the forging operation.** - **Built under a captive open-access model** - the 1 MWp (DC) solar plant, with a single-access tracker, sits on roughly 3.5 acres at Mahim, Taluka Sangole in Solapur district, Maharashtra, and was constructed by a domestic EPC contractor for Rs 3.85 crore plus taxes. - **Ready to feed the grid** - the plant received its Permission to Commission from the state electricity distribution company on 2 July 2026, meaning it is fully installed and ready for operations, with commercial evacuation of power to offset the factory’s energy draw to commence after successful testing, inspection, and completion of other formalities. # Group structure and partners **KVFL is a publicly listed company controlled by a larger, privately held forging group that is also its biggest customer, supplier and sales agent.** - **Controlled by Western India Forgings Pvt Ltd** - the holding company owns 65.82% of KVFL’s equity, while promoter and chairman Arun Jindal, a 42-year forging-industry veteran and former head of the All India Forging Association, holds another 6.64% personally. - **The parent is also the commercial backbone** - KVFL buys raw materials, forgings, scrap and labour from WIFPL, shares office space with it for a monthly licence fee of Rs 36,500, and relies on it as a selling agent, making the relationship deeply operational rather than just financial. - **A sister company with 25,000 tonnes of capacity** - KVFL also transacts with Western Heat and Forge Pvt Ltd, a fellow entity under common influence that runs fully integrated open and closed die forging facilities with annual capacity of 25,000 tonnes, buying and selling materials and labour as needed. - **No subsidiaries, no joint ventures** - the company has no downstream entities, no associates, and has not changed the nature of its business, keeping the structure simple and the forging shop as the sole operating unit.