BSE-listed Ramkrishna Forgings Limited, one of the leading suppliers of rolled, forged and machined products, has won an order worth ₹72 crore from an Indian automaker in the medium and heavy commercial vehicle (MHCV) segment, to be executed over a four-year period. according to a stock exchange filing.
Ramkrishna Forgings eyes de-risking, as it diversifies across segments
Commenting on the order win, Lalit Khetan, Executive Director & CFO, Ramkrishna Forgings Limited, said: “We are excited about the growth opportunities in the Indian CV market. We expect the volumes in the domestic CV market to move northwards in coming quarters. We have built a strong and diverse customer base in India and are now looking to strengthen our presence and gain market share.”
Ramkrishna Forgings Limited wins $1.2 million contract
Ramkrishna Forgings eyes new clients
“This order from the Indian OEM in the MHCV segment is a booster to our growth story. We are seeing an increase in interest in our products from a variety of customers, not just domestically, but globally as well, because of our quality and consistency. As a strategy, we will continue to increase content per vehicle by offering better products and adding new clients, resulting in higher capacity utilisation and profitability in the future,” he added.
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.