Ramkrishna Forgings Achieves a New 52-Week High Today

Ramkrishna Forgings Ltd is primarily engaged in the manufacturing and sale of forged components of automobiles, railway wagons & coaches and engineering parts.

In the last trading session, scrip closed at Rs 432.15. Today it opened at Rs 433.85 and closed at Rs 458, up by 5.98%. It hit a new 52-week high at Rs 477.10, surging by 10.40% and it has a 52-week low of Rs 145.50. So far today 2,30,101 shares were traded over the BSE. Over the past one-year company has given multibagger returns of over 200%.

On June 16, 2023, the company reported in the regular filing that a consortium between Ramkrishna Forgings Limited (RKFL) and Titagarh Rail Systems Limited (TRSL), has been awarded the contract to manufacture and supply 15,40,000 forged wheels over 20 years, under the Atmanirbhar Bharat Initiative by Ministry of Railways, Government of India. The contract will see the consortium delivering 40,000 forged wheels during the first year, 60,000 wheels in the second year and 80,000 wheels every subsequent year thereafter, with the total contract valued at Rs 12,226.5 crore. 

An initiative to reduce India’s reliance on importing wheels from foreign countries, the Atmanirbhar Bharat Initiative has facilitated manufacturing opportunities for Indian firms to build and supply quality forged wheels to the Indian Railways. The wheels manufactured under this agreement will cater to the requirements of multiple platforms, such as the LHB coaches, WAG9 Locomotives, Vande Bharat Express Trains, etc. 

Earlier, on June 14, 2023, the company also announced that it has successfully received an order to supply undercarriage parts to a renowned European Railway Passenger Coach manufacturer. The contract is valued at 4.5 million Euros and is set to be fulfilled within two years. 

On a consolidated basis, the company recorded a 14.09% increase in net profit for the year ended March 31, 2023, from Rs 206.50 crore to Rs 235.59 crore. In FY23, the company’s total revenue increased by 31.31% to Rs 3001 crore from Rs 2285.37 crore in the year ended March 31, 2022.