Ramkrishna Forgings PAT rises by a whopping over 170% yoy to Rs45cr during Q3FY22

19 Jan 2022 , 12:05 PM

Ramkrishna Forgings Limited (RKFL) is one of India’s leading forging companies has reported its financial results for the quarter and 9M ended December 31, 2021.

Key Highlights:

• Revenue of Rs606.05cr, yoy growth of 50.70%
• EBITDA of Rs140.21cr, yoy growth of 79.36%
• PAT of Rs45.12cr, yoy growth of 170.59%
• Quarterly EPS for Q3FY22 is Rs14.11 per share and 9M FY22 is Rs.37.49
• Declared Third Interim dividend of Rs0.50 per share
• Stock split of Company’s equity shares of face value of Rs10/- each to face value of Rs2/- each
• Company sets target to be net debt free by FY 2025.

Operational highlights for Q3FY22

• Received contracts worth “Rs22,000 Lakhs from 6 contracts during the quarter from various geographies and business verticals. We had new business acquisition in Front Axle Beams.
• Engaged PwC for ESG Roadmap integration and implementation.
• Signed an MOU with ePropelled (USA) to manufacture their patented Dynamic Torque SwitchingTM (eDTS) motor technology. This technology will provide the light EV manufacturers in india with an innovative energy saving solution for the high-growth eMobility market
• Won “Overall Supplier Excellence for Eicher Engineering Components” award for the year 2021

Commenting on the results Mahabir Prasad Jalan, Chairman, Ramkrishna Forgings Limited said, “Our new Fabrication facility at Jamshedpur had been approved by one of the leading European OEMs in the Mining & Earth Moving Industry and resulted in the commencement of serial production. This facility has also enabled us to make further in-roads in the railway segment which is one of the important sectors in our diversification strategy.

We continue to look for new opportunities in both auto and non-auto industries along with focusing on increasing our export revenues which should result in sustainabie improvement in profitability.

With strong demand, likely improvement in capacity utilization, the addition of new contracts and disciplined cash management .

We target RKFL to be net debt free Company in next three years with further improvement in our performance in upcoming period.”

At around 12:04 PM, Ramkrishna Forgings was trading at Rs1,017.05 per share up by Rs6.3 or 0.62% on the BSE.