Today, Ramkrishna Forgings advanced 2.18 per cent to Rs 215.90 after Ramkrishna Forgings secured an order worth Rs 131.5 crore for its application in North America HCVs from a tier 1 rear & front axle manufacturer customer in the auto segment. Also, the order will be executed over a period of four years.

Commenting on the order, Lalit Khetan, executive director & CFO of Ramkrishna Forgings, said, “Our strong technical capabilities in the commercial vehicle segment assisted us in obtaining this business order from one of the largest TIER-1 manufacturers for use in the North American HCV segment. This is in line with our strategy of increasing our revenue share and strengthening our exports. We continue to look for new ways to strengthen our exports business and deepen our relationships with customers.”

This company is engaged in manufacturing and selling forged components of engineering parts, automobiles, railway wagons & coaches.

Ramkrishna Forgings reported a 92 per cent jump in standalone net profit to Rs 47.26 crore on a 56 per cent rise in revenue from operations to Rs 650.75 crore in the first quarter of FY23 over the first quarter of FY22.