Stock Report

Ramkrishna Forgings Ltd receives order valued at 16 Million Euros

Posted On : 2023-08-17 09:33:51( TIMEZONE : IST )

Ramkrishna Forgings Ltd receives order valued at 16 Million Euros

Ramkrishna Forgings Limited ("the Company"), one of the leading suppliers of rolled, forged, and machined products has announced the recent award of a significant business contract valued at 16 Million Euros (approx. Rs. 1,450 Million). The contract, secured under a long-term agreement, spans a duration of 4 (four) years, and solidifies the Company's position in the European Original Equipment Manufacturer (OEM) sector.

Having successfully served the same OEM for the past 5 (five) years by supplying Front Axle Components, the Company has now been entrusted with the production and delivery of Differential components. This expansion into Rear Axle components stands as a testament to the Company's quality and reliability in the eyes of the OEM, paving the way for further collaboration and growth in their partnership, also enhancing the Company's presence in the European market.

The new business marks a key achievement for the Company as it leverages its proven track record and expertise to venture into a new realm of automotive components. With this development, the Company is poised to strengthen its foothold in Europe by expanding its product range and contributing to the efficiency and performance of vehicles in the region.

Commenting on the acquisition Mr. Lalit Kumar Khetan, Whole Time Director & CFO, Ramkrishna Forgings Limited said, "We are delighted to have been awarded this significant contract, which not only attests to the quality of our products but also demonstrates the trust that OEMs place in our capabilities. This accomplishment underscores our dedication to innovation, precision, and customer satisfaction. We look forward to further fortifying our presence in the European market."

Source : Equity Bulls


RamkrishnaForgings OrdsersWin Europe OEM