Ramkrishna Forgings announced on Tuesday that it has received a contract for the delivery of equipment to a client in the South American market for Euro 8.25 million, or roughly Rs 73.65 crore.
The company will be supplying front and rear axle components for the next five years, it said in a statement.
“This contract represents a significant step in our journey to expand and diversify our operations in the South American market,” said Ramkrishna Forgings CFO Lalit Kumar Khetan.
“We are honoured to be chosen for this partnership which signifies not only our prowess in providing high-quality components but also solidifies our commitment to fostering innovation and excellence in the automotive segment,” he said.
On Wednesday at 13.08 p.m. shares of this company shares trading 1% up at Rs. 660. As per the latest shareholding data, promoters hold 46.27%, DIIs hold 4.21%, FIIs hold 16.34% and Public hold a 33.18% stake in this company.
Ramkrishna Forging is a leading supplier of rolled, forged, and machined goods is the Kolkata-based business. In order to produce and provide 80,000 wheels to the Indian Railways, it has established a joint venture with Titagarh Railsystems. The company, which exports to over 50 countries, has a manufacturing facility in Jamshedpur in Jharkhand.
