Ramkrishna Forgings hits fresh 52-week high on strong Q1 earnings

The company posted a PAT of Rs24.61cr in Q1FY22 as compared to a loss of Rs26.47cr in Q1FY21. Revenue stood at Rs412.86cr, a growth of 256.4% yoy.

Jul 26, 2021 04:07 IST India Infoline News Service

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Ramkrishna Forgings Limited (RKFL) on Monday has reported its financial results for the quarter ended June 30, 2021. The company posted PAT of Rs24.61cr in Q1FY22 as compared to a loss of Rs26.47cr in Q1FY21 on yoy basis. Revenue stood at Rs412.86cr, a growth of 256.4% yoy.

The company’s EBITDA was Rs95.32cr as compared to a loss of Rs1.49cr on yoy basis. Highest EBITDA margin of 23.09%. The company achieved capacity utilization of 80 % on expanded installed capacity. The company’s board declared an Interim dividend of Rs0.50 per share.

Ramkrishna Forgings Ltd ended at Rs817.35 per piece up by Rs23.75 or 2.99% from its previous closing of Rs793.60 per piece on the BSE. The company stock a hit a fresh 52-week of Rs832.00 per piece during intraday trade on Monday.

“During Q1FY22, received PPAP clearance (Parts Production Approval Process) and confirmation to launch order worth EUR 15 million from a European OEM. The order is to be implemented over the period of 3 years distributed equally,” company said in a filing on Monday.

“The Company has achieved a turnover of Rs412.86cr in Q1FY22 in comparison to Rs115.85cr in Q1FY21 registering an increase of 256.4% yoy. The Company has achieved an Export turnover of Rs218.23cr in Q1FY22 in comparison to Rs66.15cr, registering a growth of 229.9%.

The EBDITA (excl. other income) is also Rs95.32cr in Q1FY22 in comparison to Rs -1.49cr in Q1FY21. The PAT has also increased to Rs24.61cr in Q1FY22 from Rs -26.47cr in Q1FY21. The Company has achieved highest EBITDA margin of 23.09% during this quarter and expects to maintain similar margins in upcoming quarters,” Mahabir Prasad Jalan, Chairman, Ramkrishna Forgings Limited, said.

With the commissioning of Hollow Spindle Line, 7000T Press Line along with Fabrication facilities for coach shells for LHB coaches till Q1 FY22 and further with commissioning of additional press line of 2000T (warm forging) which will enhance the forging capacity by 9900 Tons in Q2 FY22. With this addition the total capacity will be 1,87,100 tons per annum and will mark an end to our current capex cycle. The above will lead to savings in raw material consumption due to better input output ratio, thereby adding improvement in profitability,” he added.

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