Ramkrishna Forgings said that it has acquired an order worth Rs 15 crore. to supply fabrication parts to one of the biggest players in the energy segment.
Lalit Khetan, executive director & CFO, Ramkrishna Forgings, said: We have bagged another fabrication order to one of the biggest players in the energy segment strengthening our presence in non-auto sectors. This is in-line with our strategy to improve our revenue share of non-auto segment and diversify our business. We continue to explore newer opportunities to strengthen our non-auto business.
Ramkrishna Forgings is a manufacturer of supplier of open and closed die forgings of carbon and alloy steel, micro alloy steel and stainless-steel forgings.
The company reported a consolidated net profit of Rs 44.06 crore in Q2 FY22 as against a net profit of Rs 1.45 crore in Q2 FY21. Net sales during the quarter increased by 129.7% Y-o-Y (year-on-year) to Rs 578.82 crore.
The scrip shed 0.40% to currently trade at Rs 1186.85 on the BSE. It traded in the range of 1174 and 1199.95 so far during the day.
On a year-to-date (YTD) basis, the stock has zoomed 148.26% while the benchmark Sensex has added 28.92% during the same period.
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