Ramkrishna Forgings stock jumps 3% on winning Rs20.5 crore worth export order

30 Aug 2022 , 11:41 AM

Ramkrishna Forgings Limited, one of the leading suppliers of rolled, forged and machined products has informed that a market leader in rubber tracks for farm equipment and snowmobiles, as well as in solid and bias tyres for material handling equipment, has awarded us a large business of Metal Bars worth Rs20.5 crore (USD 2.58 million) per year. 

It is also one of the top 3 construction market players for track and tyre solutions for small heavy equipment. This work order has a potential to become an annual business of Rs80 crore (USD10 million).

Commenting on the order win Lalit Khetan, Executive Director & CFO, Ramkrishna Forgings Limited said: “In order to significantly diversify our presence across various industries, we have secured another order in the non-auto segment. Because of our diverse product line and technology, we have been awarded a significant order worth Rs20.5 crore (USD 2.58 million) per year for the supply of Metal Bars.

This order demonstrates the international markets’ acceptance of our product quality and technological capability. Our continuous Research & Development has resulted in a significant expansion of our product portfolio in international and domestic market as well, which will undoubtedly open more doors for future growth and expansion.”

At around11:43 AM, Ramkrishna Forgings Ltd is currently trading at Rs202.85 per share up by Rs5.8 or 2.94% from its previous closing of Rs197.05 per share on the BSE.

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