Ramkrishna Forgings spurts ~3.5% owing to robust performance in Q1FY23

22 Jul 2022 , 02:02 PM

Ramkrishna Forgings Limited, one of India’s leading forging players, announced its financial results for the quarter ended June 30, 2022.

The company reported a revenue of Rs65,074.59 lakh in Q1FY23, as compared to Rs41,286 lakh in the previous corresponding quarter, clocking a growth of 57.62% yoy.

During the current quarter, the company reported an EBITDA of Rs14,369.56 lakh against Rs9,531.91 lakh in Q1FY22, registering a growth of 50.75% yoy.

Net Profit for Q1FY23 registered a growth of 92.01% yoy at Rs4,725.84 lakh as compared to Rs2,461.29 lakh in the same quarter previous year.

PAT margin expanded to 7.26% during Q1FY23 as against 5.96% in the previous corresponding quarter.

The company received contracts worth ~Rs38,800 lakh from 4 contracts during the quarter from various geographies and business verticals.

It achieved a domestic sales volume of 20,726 MT in Q1FY23, a yoy growth of 77.39% as compared to Q1FY22. Further, sales volume in the export market registered a decline of 4.41% at 9,770 MT in Q1FY23 as compared to Q1FY22.

At around 2.05 PM, Ramkrishna Forgings was trading at Rs178.35 up by Rs5.85 or 3.39% from its previous closing of Rs172.50 on the BSE. The scrip hit intraday high and low of Rs180.15 and Rs175.15 respectively.