Ramkrishna Forgings wins order from Indian Railways for manufacturing of loco shells

The company has adopted a strategy to diversify into the non-auto segment with a special focus on the railways sector.

Ramkrishna Forgings has recently announced that it has won a significant order from Indian Railways for the manufacturing of loco shells which will be supplied from the new fabrication unit in Jamshedpur. This order aids the company to widen their products offerings, thereby enabling them to make further in-roads with the prestigious Indian Railways.

The company has adopted a strategy to diversify into the non-auto segment with a special focus on the railways sector. With this order, the company will improve their capacity utilization for its new fabrication unit in Jamshedpur which will lead to better operating as well as financial performance in coming years.

Lalit Khetan, Executive Director and CFO of Ramkrishna Forgings said, “The Loco shells market is estimated to be close to Rs 1,000 crore and our aim is to garner a strong market share. This order also signifies our strong product development capability and client-centric approach. The client’s trust in our technical capabilities has received a big boost with this order as are already manufacturing bogie components for LHB (Linke Hofmann Busch) coaches and Train 18.”

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.   

Ramkrishna Forgings scrip jumped by more than 3.5 per cent to touch an intraday high of Rs 1,209 per share on Monday, October 18, 2021.