Multibagger Forgings stock engaged in the manufacturing and sale of forged components for automobiles, railway wagons & coaches, and many more jumped 4 percent in the day’s trade upon securing approval to Supply Power Train Components to the USA’s largest Electric Passenger Vehicle Producer
With a market capitalization of Rs. 13,615 Crores, the shares of Ramkrishna Forgings Limited were trading at Rs. 751.90, up 3.80 percent from its previous day’s close price of Rs. 724.40. It has delivered multibagger returns of 153 percent in a year.
Ramkrishna Forgings Limited has secured approval to Supply Power Train Components to the USA’s largest Electric Passenger Vehicle Producer followed by a strategic partnership between the two entities. This approval not only signifies the Company’s debut in the US EV market but also unlocks a multitude of thrilling new prospects.
Mr. Milesh Gandhi, Executive Director, of Ramkrishna Forgings Limited said, “We are thrilled to have received approval from the USA’s Largest Electric Passenger Vehicle producer to supply power train components. This collaboration speaks volumes about our ongoing commitment to innovate and our capabilities to meet the demands of the EV industry.
In Addition, recently it has received a significant work order for the supply of the prestigious Vande Bharat Train Set worth Rs. 270 Crores from Bharat Heavy Electricals Limited. It includes the development and validation of the Bogie Frame for the sleeper version of the Vande Bharat Trainset.
Ramkrishna Forgings Limited is primarily engaged in the manufacturing and sale of forged components of automobiles, railway wagons & coaches, and engineering parts, it is the the second largest forging player in the country.
Ramkrishna Forgings Limited has a diversified product portfolio across sectors like commercial vehicles & passenger vehicles, railways, oil & gas, power, earth moving, mining & construction industries, and farm equipment.
Its revenue from operations grew by 36.16 percent from Rs. 777 Crores in Q3FY23 to Rs. 1,058 Crores in Q3FY24, accompanied by profits of Rs. 61 Crores to Rs. 87 Crores.
Written by: Bharath K.S
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