Ramkrishna Forging jumps on bagging export order

Ramkrishna Forgings surged 4.12% to Rs 175.80 after the company said that it received an export order worth Rs 135 crore from a Euroasian OEM manufacturer.

The order is for the heavy duty commercial vehicle crank shafts (06 CYL) business to be executed in next five years.

Lalit Khetan, executive director & CFO, Ramkrishna Forgings said: "This is in line with our strategy to diversify our international business. Our company has performed admirably in both domestic and international markets, and we are confident of rapid growth on the back of higher capacity and improving utilization leading to strong revenue visibility and better operating leverage."

Ramkrishna Forgings manufactures forged products. It supplies to various sectors like automotive, railways, farm equipment, bearings, oil & gas, power and construction, earth moving & mining, both in India & overseas markets.

On a consolidated basis, net profit of Ramkrishna Forgings surged 206.42% to Rs 45.35 crore on 49.27% increase in net sales to Rs 601.32 crore in Q3 December 2021 over Q3 December 2020.

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