Ramkrishna Forgings Limited, one of the leading suppliers of rolled, forged and machined products has received an LOI worth INR 225 Million (USD 3 million) per annum from Major Tier 1 Axle Manufacturer in Mexico for manufacturing of front axle beam.
Commenting on the order win Mr. Lalit Khetan, Executive Director & CFO, Ramkrishna Forgings Limited said: "It gives us immense pleasure to announce our new business acquisition in Front Axle Beams. This notable addition of a major part in the Front Axle will help us strengthen our exports revenue growth and improve content per vehicle as well. We are excited about the future growth opportunities this new business brings in. We continue to diversify our product portfolio by introducing new and high-quality products, as well as moving up the value chain. We will continue te explore new geographies with potential for expansion in order to broaden our reach and sustain our growth in exports business."
Shares of Ramkrishna Forgings Limited was last trading in BSE at Rs. 934.50 as compared to the previous close of Rs. 947.50. The total number of shares traded during the day was 9915 in over 680 trades.
The stock hit an intraday high of Rs. 955.40 and intraday low of 924.20. The net turnover during the day was Rs. 9367922.00.