Ramkrishna Forgings jumps up by 6.34% to Rs 192.95

17 Mar 2022 CW Team

Ramkrishna Forgings increased by 6.34% to Rs 192.95 after the company secured an order of approximately Rs 75 crore per annum from the largest original equipment manufacturer (OEM) in India in the medium and heavy commercial vehicle (MHCV) segments.

Ramkrishna Forgings managing director, Naresh Jalan told the media that as the Indian commercial vehicle (CV) segment is showing signs of uptrend being positive about the opportunities it will bring in the future. The company has established a solid presence among domestic customers and are further steadily cementing their position on the back of recent order wins.

The order win worth Rs 75 crore from India's largest MHCV OEM displays superior product quality as well as strong execution capabilities. The company is seeing an increase in the acceptance of products from a wide range of customers from various segments and geographies. They will continue our growth trajectory with the backing of their new orders and expected repeat orders that will help them in reaching their target.

Ramkrishna Forgings is in the business of making forged products. They are a supplier to different sectors like railways, bearings, earthmoving and mining, power and construction, automotive, farm equipment, oil, and gas in India as well as the overseas markets.

The net profit of Ramkrishna Forgings on a consolidated basis increased by 206.42% to Rs 45.35 crore. There is a 49.27% increase in net sales in Q3 December 2021 to Rs 601.32 crore which was over Q3 December 2020.

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Also read: Ramkrishna Forgings bags Rs 15 cr fabrication parts order

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