Indian leading supplier of rolled, forged, and machined products Ramkrishna Forgings has reported total Income of INR 75.2 crores up 24% YoY, EBITDA of INR 16.6 crore up 19% & PAT of INR 5.8 crore up 28% in October-December quarter of 2022-23757 LakhsOperational HighlightsIn Q3 FY23, domestic sales volume was 20,842 tonnes, representing a YoY increase of 8.7%. In 9M FY23, sales volume was 62,099 tonnes, representing a YoYIn Q3 FY23, export sales volume was 12,548 tonnes, representing a YoY increase of 21.3% over Q3FY22. In 9MFY23, sales volume was 33,967 tonne, representing a YoY increase of 4.5% over9MFY22.As of December 31st, 2022, 8 contracts totaling INR 77.5 crore had been won from various geographies and business verticalsOverall capacity utilization was 86% for Q3FY23, 82% in Q2FY23 and 73% in Q3FY22AcquisitionsDuring the quarter, Ramkrishna Forgings has entered into a share purchase agreement to acquire up to 51% voting rights of TSUYO Manufacturing Private Limited, a start-up company engaged in powertrain solutions for electric vehicles.Resolution plan to acquire JMT Auto, one of the largest Auto component manufacturers in the Eastern region having significant expertise in the auto sector, has been approved by the Committee of Creditors. This acquisition is subject to obtaining necessary approval from the Principal Bench of the National Company Law Tribunal, New Delhi.Ramkrishna Forgings was incorporated in 1981 with the objective to manufacture forged products. The Annualized installed capacity after commissioning of Hollow Spindle Line, a new 7000 Tonne Press Line, a 2000 Tonne warm/hot Forming Press and a fabrication facility is 187,100 tonnes headquartered at Kolkata, the company has state-of-the-art manufacturing facilities at Jamshedpur along with offices at Detroit in USA, Toluca and Monterrey in Mexico, Istanbul in Turkey having warehousing facilities at Hagerstown, Louisville, Detroit in USA, Toluca, Monterrey in Mexico and Westerloo in Belgium
Indian leading supplier of rolled, forged, and machined products Ramkrishna Forgings has reported total Income of INR 75.2 crores up 24% YoY, EBITDA of INR 16.6 crore up 19% & PAT of INR 5.8 crore up 28% in October-December quarter of 2022-23757 LakhsOperational HighlightsIn Q3 FY23, domestic sales volume was 20,842 tonnes, representing a YoY increase of 8.7%. In 9M FY23, sales volume was 62,099 tonnes, representing a YoYIn Q3 FY23, export sales volume was 12,548 tonnes, representing a YoY increase of 21.3% over Q3FY22. In 9MFY23, sales volume was 33,967 tonne, representing a YoY increase of 4.5% over9MFY22.As of December 31st, 2022, 8 contracts totaling INR 77.5 crore had been won from various geographies and business verticalsOverall capacity utilization was 86% for Q3FY23, 82% in Q2FY23 and 73% in Q3FY22AcquisitionsDuring the quarter, Ramkrishna Forgings has entered into a share purchase agreement to acquire up to 51% voting rights of TSUYO Manufacturing Private Limited, a start-up company engaged in powertrain solutions for electric vehicles.Resolution plan to acquire JMT Auto, one of the largest Auto component manufacturers in the Eastern region having significant expertise in the auto sector, has been approved by the Committee of Creditors. This acquisition is subject to obtaining necessary approval from the Principal Bench of the National Company Law Tribunal, New Delhi.Ramkrishna Forgings was incorporated in 1981 with the objective to manufacture forged products. The Annualized installed capacity after commissioning of Hollow Spindle Line, a new 7000 Tonne Press Line, a 2000 Tonne warm/hot Forming Press and a fabrication facility is 187,100 tonnes headquartered at Kolkata, the company has state-of-the-art manufacturing facilities at Jamshedpur along with offices at Detroit in USA, Toluca and Monterrey in Mexico, Istanbul in Turkey having warehousing facilities at Hagerstown, Louisville, Detroit in USA, Toluca, Monterrey in Mexico and Westerloo in Belgium
