Ramkrishna Forgings Rises 5% On Winning $220 mn Order From North American Customer – News18

Shares of Ramakrishna Forgings gained 5 per cent intraday on February 20 after the corporate secured a contract price $220 million within the North American market. This contract spans over a decade and marks the corporate’s foray into a brand new vertical throughout the forging sector, specializing in supplying Tier 1 clients within the Light Vehicle section throughout North America, the corporate stated in a launch.

With this enterprise, Ramkrishna Forgings says it’s poised to additional increase its providing in key markets and contribute considerably to the automotive trade’s provide chain and goals to ship merchandise that meet and exceed the rigorous requirements of the automotive trade.

Lalit Kumar Khetan, Whole Time Director & CFO, Ramkrishna Forgings stated, “Securing this substantial contract is a testament to our relentless pursuit of excellence, customer-first approach and our dedication to delivering exceptional products and services. We are honoured to collaborate with our esteemed Tier 1 customer and are fully committed to delivering superior quality forgings that drive value and innovation in the North American Light Vehicle segment. With this, the company is poised to further strengthen its foothold in the automotive forging market while continuing to explore avenues for growth and expansion.”

Earlier in February, the corporate was awarded a contract valued at $ 13.16 million (Rs 1,092 million) for the provision of rear axle parts and providers for the off-freeway sector for the subsequent 4 years.

The firm’s web revenue jumped 42 per cent within the quarter ended December 31, 2023 at Rs 86.86 crore.