Ramkrishna Forgings spurts after bagging multi-year export order

Ramkrishna Forgings rallied 1.33% to Rs 174.7 after the company won a multi-year export order worth Rs 105 crore per annum from a leading trailer manufacturer in the USA.

The supply for the same is expected to commence from the calendar year 2023.

Commenting on the order win, Lalit Khetan, executive director & CFO of Ramkrishna Forgings said, We are witnessing an increasing acceptance of products by a diverse range of customers across segments and geographies. We are continuing our growth trajectory as a result of new orders, client additions, and anticipated repeat orders which should propel us towards our strategic priorities of improving revenue mix as well as operational efficiencies leading to better profitability and in-turn will help us achieve our goal of being net debt free.

Ramkrishna Forgings is primarily engaged in manufacturing and sale of forged components of automobiles, railway wagons & coach and engineering parts. The company reported a 142.9% jump in standalone net profit to Rs 86.65 crore on a 31.9% rise in revenue from operations to Rs 683.24 crore in Q4 FY22 over Q4 FY21.

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