Kalyani Strategic Systems Limited (KSSL), a wholly owned subsidiary of Bharat Forge, has signed a joint venture agreement with Duma Engineering Group S.L. (DUMA) to establish a new manufacturing-focused entity in Spain. The new company will develop technology and product platforms related to defence manufacturing for Indian, European, and select export markets.
According to a press release issued by Bharat Forge on March 27, 2025, KSSL will hold a 90% equity stake in the new joint venture, while DUMA will hold the remaining 10%, subject to conditions outlined in the agreement.
The collaboration aims to expand capabilities in defence manufacturing through shared technological development and product co-creation. DUMA is an independent entity and not related to Bharat Forge’s promoter or group companies. The transaction is not classified as a related party transaction.
Kalyani Strategic Systems Limited (KSSL) is a wholly owned subsidiary of Bharat Forge Limited, focused on the development and manufacture of defence and aerospace components and systems. It plays a key role in Bharat Forge’s efforts to expand its presence in the defence manufacturing sector, offering products and technologies for land, air, and naval platforms. KSSL engages in domestic and international partnerships to strengthen its capabilities in areas such as artillery systems, armoured vehicles, ammunition, and related technologies.
Duma Engineering Group S.L. (DUMA) is a Spain-based engineering company involved in the design and development of mechanical and electromechanical systems. While specific financial or operational details were not disclosed in the press release, DUMA brings technical expertise and local industry knowledge to the joint venture. The company’s participation in the agreement positions it to contribute to product development efforts for European and select global defence markets in collaboration with KSSL.