Ramkrishna Forgings expects 20% volume growth in FY22
Naresh Jalan, managing director of Ramkrishna Forgings, on Thursday said that the company is expecting to achieve a volume growth of 20 percent in the financial year 2022.
Naresh Jalan, managing director of Ramkrishna Forgings, on Thursday said that the company is expecting to achieve a volume growth of 20 percent in the financial year 2022.
"FY21, we expect to do similar volumes to what we did in Q3, but for FY22, we expect full-year volume to be 20 percent more than what we have done in FY21 and we have budgeted most of our new growth to come from North America and Europe,” he said in an interview with CNBC-TV18.
According to Jalan, 2021 will be one of the best years for Class 8 truck orders in North America.
Strong North-American truck sales in January was a big talking point and Ramkrishna Forgings will benefit from this as the company gets 27 percent of its export revenue from North American market.
Jalan said, “This year is going to be one of the best years in terms of Class 8 trucks. All the original equipment manufacturers (OEMs) have revised their forecast for the entire calendar year 2021 to 3 lakh plus vehicles in this year.”
For full management commentary, watch the video
(Edited by : Niral Sharma)
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