Ramkrishna Forgings secures multi-year order win worth Rs 132 crore from European OEM

Ramkrishna Forgings Limited, a company engaged in manufacturing of rolled, forged & machined products announced today that it has secured a multi-year order win from a European original equipment manufacturer (OEM).  

This deal is worth EUR 15 million, which amounts to Rs 132 crore approximately. As per the terms of the agreement, the order has to be executed over the period of 3 years, distributed equally.   

Commenting on this development, a company official said that this order win improves revenue visibility and profitability of the company over the next 3 years. Along with this, owing to the resumption in domestic business, the company expects to achieve better sales and profitability both from domestic as well as international markets in the upcoming quarters. It has a sharp focus on building a strong order book in the international markets. Also, it will continue to expand domestically and internationally at this pace in the near future.  

At 11.56 am, the share price of Ramkrishna Forgings Limited was trading at Rs 740.75, up by 0.65 per cent from its previous day’s closing price of Rs 735.95 on BSE.