Ramkrishna Forgings wins export order worth Rs11.20cr from reputed Asian Truck Brand

1 Feb 2022 , 01:48 PM

Ramkrishna Forgings Limited, one of the leading suppliers of rolled, forged, and machined products, announced in its press release on Tuesday that the company has won an export order worth Rs 11.2 crore per year for its Precision Forging Plant from a reputable Asian Truck Brand that is part of a global major company.

“With this order, we are expanding our international presence. This order allows us to strengthen our relationship with the global OEM while also establishing a strong presence in the Asian market. This order was placed with our Precision Forging Plant (Warm Forging Plant), and the product would be delivered to one of Asia’s most reputable Truck Brands, a part of a global major corporation,” commented Mr. Lalit Khetan, Executive Director & CFO, Ramkrishna Forgings Limited.

He further added that the order is expected to generate Rs 112 million revenue per year, with additional orders for Rs 150 million per year being discussed. This approval will increase the existing capacity utilization significantly and revenue growth at the said plant in upcoming years. The company is highly focused on expanding its international business by exploring newer geographies as part of its strategy of de-risking and the order under consideration will reinforce companies’ confidence.

Ramkrishna Forgings is a supplier to various sectors like Automotive, Railways, Farm Equipment, Bearings, Oil & Gas, Power and Construction, Earth Moving & Mining, both in India & overseas markets. The Company supplies undercarriage, Bogie & Shell parts for railway passenger coaches and locomotives.

Ramkrishna Forgings is currently trading at Rs948.70 down by Rs5.75 or 0.6% from its previous closing of Rs954.45 on the BSE. The scrip opened at Rs963.80 and has touched an intraday high and low of Rs963.80 and Rs942.40 respectively.