Ramkrishna Forgings shares hit 52-week high on contract win worth Rs 145 crore

The company had reported a 63 percent jump in its net profit at Rs 76.97 crore during the June quarter. Its total income rose 28 percent to Rs 835.95 crore.

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Ramkrishna Forgings share price rose 3 percent in the early trade to hit a 52-week high of Rs 614.35 on August 17 after the company bagged contract worth Rs 145 crore.

The company has been awarded a business contract valued at 16 million euros (approximately Rs 1,450 million) under a 4-year agreement

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On August 14, the company received a $13.65 million (about Rs 107 crore) order from clients in the North American region for the supply of rear axle and transmission components.

The awarded contract pertains to the production and supply of rear axle and transmission components for Class 5, 6, and 7 vehicles.

The company reported a 63 percent jump in its net profit at Rs 76.97 crore during the June quarter. Its total income rose 28 percent to Rs 835.95 crore.

In July 2023, the company acquired Multitech Auto Private Ltd and its wholly-owned subsidiary Mal Metalliks Private Limited for Rs 205 crore.

Multitech Auto and Mal Metalliks manufacture various parts for automobiles like assembly top cover, shift cylinder, assembly gear, differential case, differential cover, and various types of hubs among others.

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