Net profit of Ramkrishna Forgings rose 130.86% to Rs 189.77 crore in the quarter ended September 2024 as against Rs 82.20 crore during the previous quarter ended September 2023. Sales rose 17.23% to Rs 1053.63 crore in the quarter ended September 2024 as against Rs 898.76 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales1053.63898.76 17 OPM %22.0622.25 - PBDT196.37166.59 18 PBT136.01105.78 29 NP189.7782.20 131 Powered by Capital Market - Live News

Ramkrishna Forgings will hold a meeting of the Board of Directors of the Company on 24 October 2024.Powered by Capital Market - Live News

Ramkrishna Forgings has provided Corporate Guarantee upto an amount of USD 6.65 million to Ramkrishna Forgings Mexico S.A. de C.V,, Mexico (erstwhile Resortes Libertad S.A. de C.V.), wholly owned subsidiary company, for taking rented space on lease from Operadora Stiva S.A. de C.V., Mexico. Powered by Capital Market - Live News

Ramkrishna Forgings announced that it has entered into Share Purchase Agreement to sell 100% stake in its Wholly-owned Subsidiary, Globe All India Services to Yatra Online, for a cash consideration of Rs. 128 crore (net of debt). Globe All India Services has evolved into one of India`s leading Hospitality Management Companies, with a diversified portfolio spanning Corporate Travel, MICE (Meetings, Incentives, Conferences and Exhibitions), Leisure and Car Rental.The transaction is expected to close within this quarter, subject to the satisfactory completion of all closing conditions. Commenting on the development, Naresh Jalan, Managing Director of Ramkrishna Forgings Ltd. said, �As part of our strategic product rationalization initiative, we have decided to focus on our core segments particularly in forged, machined and fabricated products for diverse sectors such as Automotive, Railways, Oil & Gas and Power, among others, where the Company see a great potential for growth and expansion. This move not only aligns with our long-term objectives but also enables us to strengthen our balance sheet. This division was built by addressing market needs of the time and its success reflects the dedication and hard work of our outstanding team. As the business transitions to new ownership, we express our sincere gratitude to everyone who played a role in its growth.� Powered by Capital Market - Live News

Ramkrishna Forgings has received board approval for setting up an Aluminium Forging Facility at Jamshedpur. The Board of Directors have also given an approval for an investment of Rs 57.5 crore to set up the facility, which will primarily cater to EV Market. The project will be set up with total installed capacity of 3,000 MT per annum and is expected to be commissioned by Q2 FY26. At the optimum capacity the project will generate additional revenue of Rs. 175 crore per annum for the Company. In its endeavour to get in light weighting to improve the performance, fuel efficiency and reduce environmental impact of a vehicle, the Company has decided to enter into Aluminium Forging. Powered by Capital Market - Live News