Ramkrishna Forgings jumped 6.34% to Rs 192.95 after the company bagged an order worth Rs 75 crore per annum from India's largest OEM in the MHCV segments.
Commenting on the order win Naresh Jalan , managing director, Ramkrishna Forgings, said: With Indian CV segment showing signs of uptrend we are optimistic about the opportunities it will present in the future. We have established a strong presence among domestic customers and are steadily cementing our position on the back of recent order wins.
The Rs 750-Million per annum order win from India's largest MHCV OEM demonstrates superior product quality and strong execution capabilities. We are seeing an increasing acceptance of our products from a wide range of customers across segments and geographies. We continue our growth trajectory on the back of new orders and expected repeat orders which will propel us to our target."
Ramkrishna Forgings makes forged products. It is a supplier to various sectors like automotive, railways, farm equipment, bearings, oil & gas, power and construction, earth moving & mining, both in India & overseas markets. On a consolidated basis, net profit of Ramkrishna Forgings surged 206.42% to Rs 45.35 crore on 49.27% increse in net sales to Rs 601.32 crore in Q3 December 2021 over Q3 December 2020.
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