Commenting on the order win Naresh Jalan, Managing Director, Ramkrishna Forgings Limited said: “This order substantiates our technical capabilities for Oil & Gas sector. This is a supply contract of new product to our existing customer in North America which will deepen our relationship further.
This is in-line with our strategy to improve our revenue share of non-auto segment and strengthen our exports business further. We hope the current buoyancy in the market continues as this would entail additional repeat business for us.
We continue to explore newer opportunities to strengthen our non-auto business overall with an eye to improve our exports revenues which will enable us to improve our profitability sustainably going forward.”
At around 2:39 PM, Ramkrishna Forgings was trading at Rs1,048.70 apiece up by Rs30.2 or 2.97% on Sensex.