Ramkrishna Forgings engages PwC for ESG roadmap integration and implementation

PwC has customized its ‘ESG Strategic Framework’ to deliver a diagnostic benchmarking study for the company, thereby focusing on identifying gaps, shortlisting various initiatives as well as designing an implementation of the ESG roadmap.

Ramkrishna Forgings has recently announced that it has entered into an agreement with PwC (PricewaterhouseCoopers) to make a materiality assessment, ESG vision document and an implementation roadmap. PwC will develop an ESG roadmap and integrate it with the overall corporate strategy of the company along with the implementation of the same. 

PwC has customized its ‘ESG Strategic Framework’ to deliver a diagnostic benchmarking study for the company, thereby focusing on identifying gaps, shortlisting various initiatives as well as designing an implementation of the ESG roadmap.  

PricewaterhouseCoopers (PwC) is a multinational professional services network of firms, operating as partnerships under the PwC brand. PwC ranks as the second-largest professional services network in the world and is considered one of the ‘Big Four’ accounting firms, along with Deloitte, EY and KPMG. 

To quote Lalit Khetan, Executive Director and CFO of Ramkrishna Forgings from a filing with the exchange, “With PwC coming on board, we would strive to improve on each of the ESG parameters enabling us to be an ideal corporate citizen. With the integration of ESG strategy in our corporate strategy, we are working towards long-term business sustainability which is expected to result in operational and financial outperformance.” 

Ramkrishna Forgings is primarily engaged in the manufacturing and sale of forged components of automobiles, railways, wagons, and engineering parts. It is a preferred supplier to OEMs like Ashok Leyland, Tata Motors, VE Commercial and Daimler in India as well as in overseas markets to Mack Trucks, Volvo, and Ford. The company supplies globally to Tier 1 axle manufacturers such as Sisamex, Meritor, Dana and American Axle.  

The share price of Ramkrishna Forgings gained approximately 2 per cent to touch an intra-day high of Rs 1192.95 during early market hours on Monday, October 18, 2021.