Ramkrishna Forgings: A Hammering Success in Profit and Expansion

Ramkrishna Forgings reported a profit jump to Rs 183 crore in the September quarter, announcing a first interim dividend and expansions including a new aluminium forging facility for EVs. The company also sold its Globe All India Services subsidiary and acquired Resortes Libertad S.A. de C.V. in Mexico.

Ramkrishna Forgings showcased impressive financial growth in the September quarter, reporting a profit increase to Rs 183 crore, more than twice its previous figures. Contributing factors included a surge in total income to Rs 952.43 crore, up from Rs 867.97 crore a year prior, alongside strategic expansions.

The company's board has decided in favor of a first interim dividend at Re 1 per equity share for FY25. In addition, they have approved the establishment of an Aluminium Forging Facility in Jamshedpur. This facility aims to cater to the electric vehicle market, with an investment of Rs 57.5 crore and is slated for commission by Q2 FY26.

A strategic move to streamline operations led to selling its Globe All India Services subsidiary for Rs 128 crore and acquiring Resortes Libertad S.A. de C.V. in Mexico. Meanwhile, the company secured significant orders amounting to Rs 1,522 crore, ensuring robust future growth.

(With inputs from agencies.)