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Under a four-year long-term agreement, the company will produce and deliver Rear Axle components. Ramkrishna Forgings has been serving the same OEM for the past five years by providing Front Axle Components.
This achievement strengthens their position in the European OEM sector and opens doors for future collaboration and growth. Ramkrishna Forgings aims to expand its product range and enhance vehicle efficiency in Europe through this development.
Lalit Kumar Khetan, whole time director & CFO, Ramkrishna Forgings 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."
Ramkrishna Forgings is a manufacturer of forged products. It manufactures closed die forgings of carbon and alloy steel, micro alloy steel and stainless-steel forgings. It supplies its products to various sectors, including automotive, railways, farm equipment, bearings, oil & gas, power and construction, earth moving & mining. The company is a critical safety item supplier for undercarriage, Bogie & Shell parts for railway passenger coaches and locomotives.
On a consolidated basis, net profit of Ramkrishna Forgings rose 52.81% to Rs 78.53 crore on 27.60% increase in net sales to Rs 892.34 crore in Q1 June 2023 over Q1 June 2022.
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