Ramkrishna Forgings Sees 3% Profit Rise in Q1 Amid Higher Income

Ramkrishna Forgings Ltd reported a consolidated net profit of Rs 81 crore for the June quarter, marking a 3% increase due to higher income. Total income rose to Rs 1,013.98 crore. The company also received new orders worth Rs 1,679 crore and approved an acquisition in Mexico.

Ramkrishna Forgings Ltd reported a consolidated net profit of Rs 81 crore for the June quarter, reflecting a growth of over 3% attributed to higher income streams.

The firm had recorded a profit of Rs 78.52 crore for the same period ended June 30, 2023, according to its exchange filing.

During this period, the company's total income increased to Rs 1,013.98 crore from Rs 896.99 crore in the corresponding period of the preceding fiscal year.

Expenses were reported at Rs 897.46 crore, up from Rs 793.36 crore a year earlier.

In a separate statement, Managing Director Naresh Jalan highlighted that 'Our revenues on a standalone basis stood at Rs 868 crore, reflecting our strong market presence and operational efficiency. Our adjusted EBITDA was Rs 201 crore, yielding an impressive EBITDA margin of 23.1 per cent.'

Additionally, the company received order inflows amounting to Rs 1,679 crore, to be executed over the next four years, including an undercarriage business order from a metro car in the railway segment, showing diversification into the non-auto space.

Moreover, the board of directors approved the acquisition of Resortes Libertad, S.A. DE C.V. in Mexico. The sales volume for the quarter stood at 23,217 tonnes, slightly lower than the 24,182 tonnes recorded a year earlier.

Based in Kolkata, Ramkrishna Forgings is a leading manufacturer of forged metal products with an annual installed capacity of 2,30,000 metric tonnes, supplying to sectors such as railways, bearings, oil and gas, power and construction, automotive, and more.

(With inputs from agencies.)