Ramkrishna Forgings surged 4.12% to Rs 175.80 after the company said that it received an export order worth Rs 135 crore from a Euroasian OEM manufacturer.
The order is for the heavy duty commercial vehicle crank shafts (06 CYL) business to be executed in next five years.Lalit Khetan, executive director & CFO, Ramkrishna Forgings said: "This is in line with our strategy to diversify our international business. Our company has performed admirably in both domestic and international markets, and we are confident of rapid growth on the back of higher capacity and improving utilization leading to strong revenue visibility and better operating leverage."
Ramkrishna Forgings manufactures forged products. It supplies 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% increase in net sales to Rs 601.32 crore in Q3 December 2021 over Q3 December 2020.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU