Order of Ramkrishna Forgings bags worth Rs 15-cr for work pieces

Ramkrishna Forgings said he acquired an order worth Rs 15 crore. to supply manufacturing parts to one of the biggest players in the energy sector.

Lalit Khetan, Executive Director and CFO of Ramkrishna Forgings, said: We have placed another manufacturing order with one of the biggest players in the energy segment, thus strengthening our presence in the non-automotive sectors. This is in line with our strategy to improve our non-automotive segment revenue share and diversify our business. We continue to explore new opportunities to strengthen our non-automotive business.

Ramkrishna Forgings is a manufacturer and supplier of open and closed carbon and alloy steel, micro-alloy steel and stainless steel open and closed forgings.

The company reported consolidated net profit of Rs 44.06 crore in Q2 FY22 compared to net profit of Rs 1.45 crore in Q2 FY21. Net sales in the quarter increased 129.7% year-on-year (year-on-year) to Rs 578.82 crore.

The script lost 0.40% to currently trade at Rs 1,186.85 on BSE. It traded in a range of 1174 and 1199.95 so far during the day.

Year-to-date (YTD), the stock has risen 148.26% while the benchmark Sensex has risen 28.92% over the same period.

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(This story was not edited by Business Standard staff and is auto-generated from a syndicated feed.)

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