Ramkrishna Forging rises after winning export order

Ramkrishna Forgings rose 2.17% to Rs 1002.65 after the company won an export order worth Rs 57.50 crore from North America for supplying spindle.

Ramkrishna Forgings has won an export order to supply spindle worth Rs 57.5 crore over a period of 3 years from one of the largest TIER-1 manufacturers in North America in commercial vehicle (CV) segment.

Lalit Khetan, executive director & CFO, Ramkrishna Forgings said: "Our strong technical capabilities in the commercial vehicle segment has helped us secure an order from one of the largest TIER-1 manufacturers in North America in the CV segment. This is also a testimony of product quality and our operational excellence. The supply contract will allow us to strengthen our order book in the exports market further which is in line with our strategy to improve our exports share in overall revenues."

On a consolidated basis, the company reported a net profit of Rs 44.06 crore in Q2 FY22 as against a net profit of Rs 1.45 crore in Q2 FY21. Net sales during the quarter surged 129.7% year-on-year to Rs 578.82 crore.

Ramkrishna Forgings is one of the leading suppliers of rolled, forged and machined products.

Powered by Capital Market - Live News