Ramkrishna Forgings rallies 4 per cent on winning domestic multi-year order from foreign multinational tier 1 OEM

This order will help strengthen the company’s domestic order book further, which is a distinct testimony of its robust operational capabilities of meeting global standards.

Ramkrishna Forgings has secured a domestic multi-year order worth Rs 51 crore from a foreign multinational tier 1 original equipment manufacturer (OEM). The order will be implemented over the period of three years, distributed equally. 

This order will help strengthen the company’s domestic order book further, which is a distinct testimony of its robust operational capabilities of meeting global standards. This is a healthy sign of domestic markets reopening post the lockdown restrictions implemented in face of the second wave of COVID-19. 

In a filing with the exchange, Naresh Jalan, Managing Director, Ramkrishna Forgings Limited said, “We estimate better sales and improvement in profitability from both domestic as well as international markets in the future based on the order book that we have aided by our ability to customise products as per clients’ requirements.” 

Ramkrishna Forgings is primarily engaged in the manufacturing and sale of forged components of automobiles, railways, wagons, and engineering parts. It is one of the leading suppliers of rolled, forged, and machined products. 

The company is a supplier to various sectors like automotive, railways, farm equipment, bearings, oil & gas, power and construction, earthmoving & mining, both in India & overseas markets. It is a preferred supplier to OEMs like Tata Motors, Ashok Leyland, VE Commercial and Daimler in India and to Volvo, Mack Trucks, Iveco, and Ford in the overseas markets. It supplies globally to tier 1 axle manufacturers like Dana, Sisamex, Meritor, and American Axles.