Ramkrishna Forgings bags export order worth Rs131.50 crore; stock zooms ~2%

10 Oct 2022 , 11:35 AM

Ramkrishna Forgings Limited, a prominent provider of rolled, forged, and machined products, has received an Rs131.50 crore (USD 15.9 million) order from a Tier 1 Rear & Front Axle maker client in the vehicle industry for its application in North America HCVs. The directive will be carried out over a four-year period.

Lalit Khetan, Executive Director & CFO, Ramkrishna Forgings Limited, commented on the order win, saying, “Our strong technical capabilities in the commercial vehicle segment assisted us in obtaining this business order from one of the largest TIER-1 manufacturers. The order is for use in the North American HCV segment.

This is consistent with our aim of expanding revenue share and improving exports. We are always looking for innovative methods to expand our export company and develop our client ties.”

At around 11.37 AM, Ramkrishna Forgings was trading at Rs215.10 up by 1.8% from its previous closing of Rs211.30 on the BSE. The scrip touched intraday high and low of Rs218 and Rs208 respectively. 

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