1,300 per cent returns: This multibagger forging company bags new orders worth USD 13.65 million; signed Rs 12,226 crore agreement!

The stock has gained more than 100 per cent in the last six months.

On August 14, 2023, Ramkrishna Forgings Limited informed in the exchange filing that the company has 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.

Earlier, the consortium of Ramkrishna Forgings Limited and Titagarh Wagons Limited (RKFL-TWL Consortium) has received the Letter of Award (LOA) dated 5 April 2023 from the Ministry of Railways, Government of India for the manufacturing and supply of forged wheels under long term agreement under Aatma Nirbhar Bharat.

The order involves manufacturing and supply of 15,40,000 forged wheels of different rolling stocks to the Ministry of Railways over a period of 20 years. The order is worth Rs 12,226.50 crore.

Shares of Ramkrishna Forgings Limited jumped from Rs 39.85 on August 14, 2020, to Rs 584.80 on, August 14, 2023, an increase of about 1368 per cent in the three-year holding period. The company is a part S&P BSE SmallCap Index. The stock has given multibagger returns during the previous 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.