Ramkrishna Forgings Limited, one of the leading suppliers of rolled, forged and machined products has won a domestic order worth INR 90 million (USD 1.2 million) from a Multinational Oil & Gas Tier-1 component supplier in India.
Commenting on the order win Mr. Lalit Khetan, Executive Director & CFO, Ramkrishna Forgings Limited said: "This order validates our oil and gas technical capabilities and marks our entry into a new product category. The component supplier will export these components to major Oil & Gas machinery and equipment OEMs in the USA which reiterates our commitment towards maintaining international quality standards. We are also expecting an additional order of approximately USD 2.50 million during the current fiscal year which improves revenue visibility for the segment. This order win is in line with our strategy to strengthen our non-auto business and new product offerings that will enable us to increase content per vehicle and sustainably improve our profitability in the future."
Shares of Ramkrishna Forgings Limited was last trading in BSE at Rs. 976.60 as compared to the previous close of Rs. 971.10. The total number of shares traded during the day was 9966 in over 1273 trades.
The stock hit an intraday high of Rs. 995.45 and intraday low of 955.00. The net turnover during the day was Rs. 9708732.00.