The order is to be implemented over the period of 4 years distributed equally. The announcement was made during market hours today.

Naresh Jalan, managing director, Ramkrishna Forgings, said: “With this order win our international portfolio has strengthened further. Our recent orders have been from Tier 1 international customers who have showed their faith in our commitment to quality as well as ability to deliver. These order wins not only improves visibility for our international business but also strengthens our long-term customer relationship.

Going forward we can capitalise on this relationship for future orders. Our company has been doing exceptionally well in both national as well as international markets. We are very confident that on back of the added capacity and revenue visibility our company is poised for dramatic growth in near future.”

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

The company reported a consolidated net profit of Rs 24.69 crore in Q1 FY22 as against a net loss of Rs 29.48 crore in Q1 FY21. Net sales during the quarter increased by 267.11% YoY to Rs 417.11 crore.

The scrip shed 0.59% to currently trade at Rs 930.60 on the BSE.