Ramkrishna Forgings Clinches Rs 74 Crore Order from Leading European OEM

30 Aug 2023 , 12:15 PM

Ramkrishna Forgings shares rise by 1 % to Rs 662.25 in early trade on August 30 after securing a Rs 74 crore order. The order comes from a prominent European original equipment manufacturer (OEM).

The company has won a substantial contract of 8.25 million euros (around Rs 73.65 crore) from a distinguished European OEM and Tier 1 supplier. The contract spans five years and involves the supply of front and rear axle components.

Ramkrishna Forgings highlights the commitment of 1.65 million euros per year, signifying a strong and lasting partnership. The company operates advanced manufacturing facilities in Jamshedpur, producing forged products for diverse sectors like automotive, railways, farm equipment, and more.

On August 24, the company also secured a significant 17.2 million euros (approximately Rs 156 crore) contract from a Eurasian customer in the farm equipment industry. This four-year contract brings an annual value of about 4.31 million euros. These successes highlight Ramkrishna Forgings’ industry expertise and growing global presence.

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