Ramkrishna Forgings shares hit record high on Rs 145 cr order from European OEM

It will solidify the company's position in the European OEM sector, Ramkrishna Forgings said in a regulatory filing.

"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, it said.

Ramkrishna Forgings said 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," it 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," said Lalit Kumar Khetan, Whole Time Director & CFO at Ramkrishna Forgings.

Ramkrishna Forgings is a manufacturer and supplier of closed-die forgings of carbon and alloy steel, micro-alloy steel and stainless steel forgings.

Earlier this week, the company bagged a $13.65 million (about Rs 107 crore) order from clients in the North American region. The order is for supply of rear axle and transmission components.

In March this year, Ramkrishna Forgings in consortium with Titagarh Rail Systems Ltd emerged as the lowest bidder for the supply of 15.40 lakh forged wheels to Indian Railways.

In June, the company bagged an order from a prominent passenger rail coach manufacturer in Europe. The contract is valued at euros 4.5 million and is set to be fulfilled within a span of two years.