Ramkrishna Forgings Ltd secures order worth INR 120 million per annum

Ramkrishna Forgings Limited, one of the leading suppliers of rolled, forged and machined products has bagged LOI for its warm forging business worth INR 120 million per annum from a major global axle manufacturer located in India. This is a recurring order on annual basis and has potential to grow in coming years.

Commenting on the order win Mr. Naresh Jalan, Managing Director, Ramkrishna Forgings Limited said: "Coming from a major global axle manufacturer this order is not only a testimony to our sound and timely investment decision ability, but also our prowess to win back-to-back sales orders. This order is for a new pressline which is part of our capex program initiated in 2018. The awarding of this order also opens doors to future business potential from this warm forging pressline. Our teams have over the years mastered the art of making judicious investment decisions whereby we can tap into the growing market demand and simultaneously not over invest in assets. Our capex program has been flexible enough to adjust to the overall slump in business environment due to pandemic, and at same time well positioned for catering the demand revival. This order being recurring in nature will improve revenue visibility further. We are confident that with our track record of signing on new clients and nurturing existing business, coupled with cautious investment decisions, we would achieve an accelerated yet sustainable growth."

Shares of Ramkrishna forgings Ltd. was last trading in BSE at Rs. 929.55 as compared to the previous close of Rs. 927.85. The total number of shares traded during the day was 14105 in over 435 trades.

The stock hit an intraday high of Rs. 937.3 and intraday low of 921.25. The net turnover during the day was Rs. 13115340.

Source : Equity Bulls

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