Ramkrishna Forgings Limited wins multi-year order from European OEM worth EUR 15 million

Ramkrishna Forgings Limited, one of the leading supplier of rolled, forged and machined products has received PPAP clearance (Parts Production Approval Process) and confirmation to launch order worth EUR 15 million (INR 132 cr. approx.) from a European OEM. The order is to be implemented over the period of 3 years distributed equally.

Commenting on the order win Mr. Naresh Jalan, Managing Director, Ramkrishna Forgings Limited said: "We continue building strong order book in international markets given our business operations that are meticulously aligned to stringent global benchmarks. Generally the margin in exports business tend to be better and now since domestic market have also started opening up after 2nd wave of Covid, Company hopes to achieve better sales and profitability both from domestic as well as international markets in upcoming quarters. This order improves revenue visibility and profitability over the next 3 years. Our ability to develop customised products coupled with technology spending and efficient utilization of our facilities is leading us to develop our business and we continue to expand domestically and internationally at this pace in the coming future."

Shares of RAMKRISHNA FORGINGS LTD. was last trading in BSE at Rs.738 as compared to the previous close of Rs. 721.55. The total number of shares traded during the day was 19823 in over 689 trades.

The stock hit an intraday high of Rs. 741.6 and intraday low of 726.5. The net turnover during the day was Rs. 14582437.

Source : Equity Bulls

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