Ramkrishna Forgings bags order worth 4.5 million Euros; stock climbs to 52-week high

14 Jun 2023 , 09:37 AM

Ramkrishna Forgings Limited informed the bourses that it has received a contract to supply undercarriage parts to a well-known European Railway Passenger Coach manufacturer. 

The contract is worth 4.5 million Euros and will be completed in two years.

This order is from a prominent European Railway Passenger Coach manufacturer and demonstrates the company’s commitment to excellence in fabrication. 

Lalit Kumar Khetan, Whole-time Director & CFO, Ramkrishna Forgings Limited commented, “We are thrilled to receive this prestigious order from one of the most prominent European Railway Passenger Coach manufacturers. This achievement highlights the trust and confidence the company’s clients place in its fabrication capabilities.”

The successful acquisition of this order not only demonstrates the company’s confidence in its capabilities but also represents a significant increase in revenue from the fabrication vertical. The order will also provide the company with additional opportunities to expand its presence in European Railway.

Ramkrishna Forgings is a supplier to multiple industries, including automotive, railways, farm equipment, bearings, oil and gas, power, construction, and earth moving and mining. It operates in both domestic and international markets. One of the company’s important roles is providing critical safety components for undercarriages, bogies, and shell parts used in railway passenger coaches and locomotives.

At around 9.40 AM, Ramkrishna Forgings was trading 2.51% higher at Rs 422.25, against the previous close of Rs 411.90 on NSE. The counter hits 52-week high of Rs 429.85.

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