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Under the consultancy agreement, McKinsey will spearhead a comprehensive 15 month transformation program that spans across crucial facets of the company's operations. The focus areas include manufacturing, logistics, procurement, manpower, inventory, pricing, and more.
The strategic collaboration aims to streamline processes, enhance capabilities, and implement cutting-edge digital systems to ensure sustained success and drive margin improvement.
Lalit Kumar Khetan, whole time director & CFO, Ramkrishna Forgings said, "This consultancy agreement with McKinsey is a testament to our commitment to continuous improvement and innovation. We are confident that their expertise will bring about positive changes across our operations, positioning us for sustained growth in the dynamic business landscape.”
Ramkrishna Forgings is engaged in manufacturing and sale of forged components of automobiles, railway wagons & coach and engineering parts.
The company's consolidated net profit jumped 22.3% to Rs 82.20 crore on 19% increase in net sales to Rs 981.49 crore in Q2 FY24 over Q2 FY23.
The scrip rose 0.77% to Rs 788 on the BSE.
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