The company started dispatches of warm forging processed parts to India's axle manufacturer.
Ramkrishna Forgings had done capex in 2021, which is completed and now the products despatches have begun. The sample supplies will enable to garner a new potential business worth Rs 75 crore in revenue over a three-year period, as per the company's press statement.
Commenting on the supply of sample quantities, Lalit Khetan, the executive director (ED) and CFO of Ramkrishna Forgings, said, "Major component manufacturers domestically as well as in exports markets have accepted our products highlighting our superior product quality. Our technologies and research and development have aided us in developing products that meet the needs of our customers, leading to the addition of new business. Our ability to create new products has allowed us to broaden our product and customer base."
"We have begun supplying samples of Warm Forging processed parts to India's leading axle manufacturer which will be followed by continuous sample submissions of various other models for process validation and the start of bulk orders as soon as possible. This process will assist us in establishing a USD 10 million business to begin with over a three-year period. Going forward, our endeavour will be to continue adding newer products to our baskets and increase the number of products per customer," Mr Khetan added.
Ramkrishna Forgings' standalone net profit jumped 170.59% to Rs 45.12 crore on a 50.70% surge in revenue from operations to Rs 606.05 crore in Q3 FY22 over Q3 FY21.
Shares of Ramkrishna Forgings advanced 2.03% to close at Rs 884.85 on BSE. Ramkrishna Forgings is one of the leading suppliers of rolled, forged and machined products.
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