Ramkrishna Forgings wins export order of Rs135 crore from Euroasian OEM; Stock ends ~7% higher

5 Apr 2022 , 04:10 PM

Ramkrishna Forgings Limited, one of the leading suppliers of rolled, forged and machined products has received biggest recent export order worth Rs135 crore from a Euroasian OEM manufacturer for the Heavy Duty Commercial Vehicle Crank Shafts (06 CYL) Business to be executed in next five years.

Commenting on the order win Lalit Khetan, Executive Director & CFO, Ramkrishna Forgings Limited said: “This order validates our knowledge of heavy-duty commercial vehicle products and demonstrates our ability to match global quality standards. These order wins not only raise the profile of our international business but also contribute to the strengthening of our long-term customer relationships, which we will be able to leverage for future orders.

“This is in-line with our strategy to diversify our international business. Our company has performed admirably in both domestic and international markets, and we are confident of rapid growth on the back of higher capacity and improving utilization leading to strong revenue visibility and better operating leverage.”

Ramkrishna Forgings ended at Rs180.40 apiece up by Rs11.55 or 6.84% on the BSE.