Ramkrishna Forgings surged 5.43% to Rs 193.20 after the company bagged an order from European tier-1 axle manufacturer.
The company announced won an export order with an estimated business value of Rs 33 crore over five years from Europe's leading tier-1 axle manufacturer for the front axle business.Commenting on the order win, Lalit Khetan, executive director & CFO of Ramkrishna Forgings said, Recent orders have come from Tier 1 international customers who have proven their trust in our ability to deliver quality products on time. These orders not only increase the visibility of our international business but also strengthen our long-term customer relationships. Our company has performed admirably in both domestic and international markets. We are confident that our company will experience rapid growth in the future as a result of increased capacity and revenue visibility."
Ramkrishna Forgings is primarily engaged in manufacturing and sale of forged components of automobiles, railway wagons & coach and engineering parts.
On consolidated basis, the company reported 206.4% jump in net profit to Rs 45.35 crore on 49.3% increase in net sales to Rs 601.32 crore in Q3 FY22 over Q3 FY21.
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