Ramkrishna Forgings bags Rs 15 cr fabrication parts order

01 Nov 2021 CW Team

Ramkrishna Forgings Limited has bagged a Rs 15 crore order for supplying fabrication parts to one of the biggest players in the energy segment.

The executive director and chief financial officer (CFO) of Ramkrishna Forgings, Lalit Khetan, said that the company had acquired another fabrication order from one of the biggest players in the energy sector, strengthing its presence in non-auto sectors.

The order is under the line to improve its revenue share of the non-auto segment and expand its business. He added that the company would continue to explore new opportunities to strengthen its non-auto business.

It is a manufacturing and supplying company of open die and closed die forgings of carbon and alloy steel, micro-alloy steel and stainless steel forgings.

It witnessed a consolidated net profit of Rs 44.06 crore in the second quarter (Q2) of FY22, compared to a consolidated net profit of Rs 1.45 crore in Q2 FY21. The net sales during the quarter increased by 129.7% year-on-year (YoY) to Rs 578.82 crore.

In its year-to-date (YTD) model, the company's stock has increased to 148.26%, while the benchmark Sensex has added 28.92% in the same period.

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