1,200 per cent returns: Multibagger forging company bags multiple new orders worth Rs 230 crore!

The stock has gained more than 140 per cent in the last six months.

On August 30, 2023, Ramkrishna Forgings Limited informed in the exchange filing that the company had entered into the South American market. The company has been awarded to supply front and rear axle components for the next 5 (five) years. The order is worth 8.25 million Euros (Rs 73.65 crores) by a prominent European OEM & Tier 1 supplier.

Furthermore, on August 24, 2023, the company also won an order valued at 17.2 million Euros (Rs 156 Crores) from a Eurasian customer in the farm equipment industry. The contract extends over a period of 4 (four) years. The order is to supply top-quality forged and machined components, catering specifically to transmission and engine parts.

On August 14, 2023, the company also secured a contract valued at USD 13.65 Million per year for supplying rear axle and transmission components. This significant achievement marks a substantial step towards bolstering the company's growth portfolio within the North American region. The awarded contract pertains to the production and supply of rear axle and transmission components for Class 5, 6, and 7 vehicles.

The stock has given multibagger returns of over 1200 per cent during the last three years.

Ramkrishna Forgings Ltd is primarily engaged in the manufacturing and sale of forged components of automobiles, railway wagons & coaches, and engineering parts. The company caters to various industries which include automotive, earth moving and mining, farm equipment, general engineering, railways, steel plants, and oil exploration.

Disclaimer: The article is for informational purposes only and not investment advice.