Ramkrishna Forgings stock jumps 3% on winning Rs25cr worth export order

This order substantiates company's technical capabilities for Oil & Gas sector.

Sep 15, 2021 02:09 IST India Infoline News Service

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Ramkrishna Forgings Limited, one of the leading suppliers of rolled, forged and machined products has won an export order worth Rs25cr (USD 3.5 million per annum) from a North American customer in Oil & Gas segment.

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.

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