Ramkrishna Forgings, the equipment supplier to various sectors like Domestic and Overseas market, has registered over 30-fold rise in its consolidated net profit to Rs 440.6 million in the quarter ended September 2021 as against Rs 14.5 million during the previous quarter ended September 2020. Sales rose 129.67% to Rs 5,788.2 million in the quarter ended September 2021 as against Rs 2520.2 million during the previous quarter ended September 2020.

The Company has reported over 24-fold rise in its standalone net profit at Rs 501.1 million for the quarter ended September 30, 2021 as compared to net profit of Rs 20.7 million for the same quarter in the previous year. Total income of the company jumped over two-fold at Rs 5,793.1 million for Q2FY22 as compared with Rs 2,532.9 million for the corresponding quarter previous year.

The quarterly EPS for Q2FY22 is Rs15.68 per share. The company declared a Second Interim dividend of Rs 0.50 per share.

Mahabir Prasad Jalan, Chairman, Ramkrishna Forgings said, "The Company has achieved a turnover of Rs 57,893.59 Lakhs in Q2FY22 in comparison to Rs 25,247.13 Lakhs in Q2FY21 registering an increase of 129.31% YoY and Rs 99,607.12 Lakhs in H1FY22 in comparison to Rs 36,832.00 Lakhs in H1FY21 registering an increase of 170.44% YoY.

The Company has achieved an Export turnover of Rs 28,673.78 Lakhs in Q2FY22 comparison to Rs 11,390.78 Lakhs in Q2FY21, registering a growth of 151.73% and an Export turnover of Rs 50,698.79 Lakhs in H1FY22 comparison to Rs 18,006.05 Lakhs in H1FY21, registering a growth of 181.57%. The EBDITA (excl. other income) is also increased to Rs 13,917.94 Lakhs in Q2FY22 in comparison to Rs 4,557.84 Lakhs in Q2FY21 and Rs. 23,449.85 Lakhs in H1FY22 as compared to Rs. 4,408.46 Lakhs in H1FY21. The PAT has also increased to Rs 5,011.20 Lakhs in Q2FY22 from Rs 207.30 Lakhs in Q2FY21 and to Rs. 7,472.49 Lakhs in H1FY22 from Rs. -2,439.89 Lakhs in H1FY21."

"With all the capacity expansions in place taking our overall capacity to 1,87,100 tons per annum, we expect to increase our presence in Indian as well as exports markets and deliver new products which might help us to improve our operating leverage and boost our margins.

With the help of our research and development and various initiatives we can offer improved and premium products to our customer. Our strategy of diversifying our presence in both auto and nonauto segment along with strengthening presence in exports market has been bearing fruits with recent order wins," he added.