The aforementioned order would help the company expand its Footprint into the South American market.

Under the terms of this agreement, the company will be supplying front and rear axle components for the next five years. This contract reflects a commitment of 1.65 million euros per year, a testament to the enduring partnership between the company and these industry leaders.

Lalit Kumar Khetan, whole time director & CFO, Ramkrishna Forgings, said, "This contract represents a significant step in our journey to expand and diversify our operations in the South American market.

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. This partnership exemplifies our dedication to enhance mobility solutions and driving impactful growth in the dynamic Brazilian 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.

The scrip added 0.80% to currently trade at Rs 659.15 on the BSE.