Mumbai, March 13 -- The agency has affirmed the company's short-term rating at '[ICRA] A1+'.

ICRA stated that the reaffirmation of the ratings continues to consider Bharat Forge Limited's (BFL's) leading position in the global automotive forgings industry, especially in the commercial vehicle (CV) chassis and engine components space.

The ratings also consider the company's large-scale operations, its diversified business portfolio with a strong customer base in the automotive and industrial segments across geographies, and its established relationships with leading global original equipment manufacturers (OEMs)for components supplied and its technical capabilities.

ICRA also notes that as part of its strategy to attain segmental divers...