Ramkrishna Forgings wins a domestic order worth Rs 9 crore

This order win is in line with the company strategy to strengthen non-auto business and new product offerings

Ramkrishna Forgings Limited, one of the leading suppliers of rolled, forged and machined products has won a domestic order worth Rs 9 crore (USD 1.2 million) from a Multinational Oil & Gas Tier-1 component supplier in India.

“This order validates our oil and gas technical capabilities and marks our entry into a new product category. The component supplier will export these components to major Oil & Gas machinery and equipment OEMs in the USA which reiterates our commitment towards maintaining international quality standards. We are also expecting an additional order of approximately USD 2.50 million during the current fiscal year which improves revenue visibility for the segment. This order win is in line with our strategy to strengthen our non-auto business and new product offerings that will enable us to increase content per vehicle and sustainably improve our profitability in the future” said Lalit Khetan, Executive Director and CFO, Ramkrishna Forgings Limited.

Ramkrishna Forgings was incorporated in 1981 with the objective to manufacture forged products. The company is a supplier to various sectors like Automotive, Railways, Farm Equipment, Bearings, Oil & Gas, Power and Construction, Earth Moving & Mining, both in India and overseas markets.

The company is a critical safety item supplier for undercarriage, bogie and shell parts for railway passenger coaches and locomotives. It is a preferred supplier to OEMs like Tata Motors, Ashok Leyland, VE Commercial and Daimler in India and to Volvo, Mack Trucks, Iveco, DAF, Scania, MAN, UD Trucks and Ford Otosan in the overseas markets. It supplies globally to Tier 1 axle manufacturers like Dana, Meritor and American Axles.

At noon, shares of Ramkrishna Forgings were trading at Rs 938.00, down by 3.7 per cent down from previous day close of Rs 975.