Stock Report

Ramkrishna Forgings wins Export order worth INR 112 million p.a.

Posted On : 2022-02-01 14:27:12( TIMEZONE : IST )

Ramkrishna Forgings wins Export order worth INR 112 million p.a.

Ramkrishna Forgings Limited, one of the leading suppliers of rolled, forged and machined products has won an export order worth INR 112 million per year for its Precision Forging Piant from a reputable Asian Truck Brand that is part of a global major company.

Commenting on the order win Mr. Lalit Khetan, Executive Director & CFO, Ramkrishna Forgings Limited said: "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. In the first phase, this order would generate INR 112 million in revenue per year, with orders for an additional INR 150 million per year being discussed. This approval will significantly increase capacity utilisation and revenue growth at this new plant in the coming years. We are very focused on expanding our international business by entering newer geographies as part of our strategy of de-risking, and this order win reinforces our confidence."

Shares of Ramkrishna Forgings Limited was last trading in BSE at Rs. 954.45 as compared to the previous close of Rs. 941.15. The total number of shares traded during the day was 10472 in over 603 trades.

The stock hit an intraday high of Rs. 966.05 and intraday low of 941.00. The net turnover during the day was Rs. 9987504.00.

Source : Equity Bulls


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