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25 September, 2021 00:39 IST
Ramkrishna Forgings wins export order worth Rs 250 mn; Stock jumps over 3%
Source: IRIS | 15 Sep, 2021, 12.18PM
Rating: NAN / 5 stars.
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Ramkrishna Forgings, the equipment supplier to various sectors like Domestic and Overseas market on September 15, has won an export order worth Rs 250 million (USD 3.5 million per annum) from a North American customer in Oil & Gas segment.

Naresh Jalan, Managing Director, Ramkrishna Forgings said, "This order substantiates our technical capabilities for Oil & Gas sector. This is a supply contract of new product to our existing customer in North America which will deepen our relationship further. This is in-line with our strategy to improve our revenue share of non-auto segment and strengthen our exports business further."

He added, "We hope the current buoyancy in the market continues as this would entail additional repeat business for us. We continue to explore newer opportunities to strengthen our nonauto business overall with an eye to improve our exports revenues which will enable us to improve our profitability sustainably going forward."

Shares of the company gained Rs 33.10, or 3.25%, to trade at  Rs 1,051.60.  The total volume of shares traded  was  16,013 at the BSE (10.50 a.m., Wednesday).

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