Ramkrishna Forgings commissions Warm Forging Plant; Stock ends 2% higher

15 Feb 2022 , 04:40 PM

Ramkrishna Forgings Limited, one of the leading suppliers of rolled, forged and machined products has successfully started dispatches of warm forging processed parts to India’s leading Axle manufacturer.

RKFL had done capex in 2021, which is completed and now products dispatches have started. Sample supplies will enable to garner new potential business worth Rs75 crore in revenue over a three-year period.

Commenting on the supply of sample quantities Lalit Khetan, Executive Director & CFO, Ramkrishna Forgings Limited said: “Major component manufacturers domestically as well as in exports markets have accepted our products highlighting our superior product quality.

“Our technologies and research and development have aided us in developing products that meet the needs of our customers, leading to the addition of new business. Our ability to create new products has allowed us to broaden our product and customer base.”

We have begun supplying samples of Warm Forging processed parts to India’s leading axle manufacturer which will be followed by continuous sample submissions of various other models for process validation and the start of bulk orders as soon as possible. This process will assist us in establishing a USD 10 million business to begin with over a three-year period. Going forward, our endeavour will be to continue adding newer products to our baskets and increase the number of products per customer.”

On Tuesday, Ramkrishna Forgings ended at Rs884.85 apiece up by Rs17.6 or 2.03% on Sensex.