Ramkrishna Forging bags export orders worth Rs 115 crore from Europe

by 5paisa Research Team Last Updated: Dec 13, 2022 - 11:04 pm 25.4k Views

The order is expected to bolster the company’s endeavour in taking forward geographical diversification strategy and strengthen its European order book.

In its exchange filing on June 8, the manufacturer of forged components announced that it has received an export order worth Rs 1150 million for 4 years from a European Tier 1 supplier for a new differential housing case business.

Ramkrishna Forging is a supplier to various sectors like Automotive, Railways, Farm Equipment, Bearings, Oil & Gas, Power and Construction, and Earth Moving & Mining, both in India & overseas markets. The company is a critical safety item supplier for undercarriage, Bogie & Shell parts for railway passenger coaches and locomotives.

The company has reported a good quarter wherein consolidated net profit grew by 148% YoY at Rs 83.93 crore while sequentially it was up by 85%. Consolidated Net revenue stood at Rs 718.72 which grew by 38% YoY and 19.5% QoQ. EBITDA for the quarter stood at Rs 151.02 crore which was up by 40.3% YoY and 7.7% QoQ. Margins also expanded during Q4 wherein EBITDA margin stood at 22.1 per cent and PAT margin 12.7%.

The stock has however performed weakly on the bourses with negative returns of 6.17% in one month while its Benchmark index S&P BSE Smallcap has shed 2.5% during the same period. It has lost 14.7% in share price YTD, still underperforming S&P BSE Smallcap which has shed 12.85% YTD.

At the current market price of Rs 162.1, it enjoys a market capitalisation of Rs 2603 crore with a 52-week high and low of Rs 252 and Rs 120.6.

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