Companies

Ramkrishna Forgings Limited wins $1.2 million contract

Our Bureau Mumbai | Updated on November 26, 2021

Expecting an additional order of approximately $2.50 million during the current fiscal year, says Lalit Khetan, CFO, Ramkrishna Forgings Limited

Ramkrishna Forgings Limited, suppliers of rolled, forged and machined products, has won a domestic order worth ₹90 million ($1.2 million) from a multinational oil & gas tier-1 component supplier in India, according to a stock exchange filing.

Also read: Ramkrishna Forgings eyes de-risking, as it diversifies across segments

Commenting on the order win, 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 and 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 $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.”

Published on November 26, 2021

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