Synopsis:"Ramkrishna Forgings secures Rs 270 crore order for Vande Bharat trains, showcasing excellence in rail solutions. Q3FY24 profits surge by 42.3%. Stocks rise by 3%."
The Rs 270-crore order from BHEL-TRSL consortium is for 32 train sets of the sleeper version of the Vande Bharat.
On April 15, Ramkrishna Forgings Limited declared that it secured a significant order worth Rs 270 crore from the BHEL-TRSL consortium for 32 Vande Bharat train sets.
The project entails developing and validating the bogie frame for the sleeper version of the Vande Bharat train set. This order encompasses 32 train sets, each comprising 16 coaches, resulting in the production of a total of 1,024 bogie frames, as per the company's statement.
Lalit Kumar Khetan, Whole-Time Director & CFO of Ramkrishna Forgings Limited, commented, "Winning this order highlights our commitment to excellence and innovation. It reflects our dedication to delivering high-quality solutions for the railway sector. We are proud to contribute to the 'Make in India' initiative and the progress of rail transportation in the country by leveraging our manufacturing expertise in producing top-notch bogie frames."
In Q3FY24, Ramkrishna Forgings reported a profit of Rs 86.86 crore, marking a 42.3 percent increase from Rs 61.04 crore in the corresponding quarter of the previous year. Its revenue from operations for the quarter ending December 2023 reached Rs 1057.79 crore, up by 36.1 percent from Rs 777.48 crore in Q3FY23. The company's EBITDA rose to Rs 225 crore, a 31 percent increase year-on-year, with total income amounting to Rs 1059.32 crore and total expenses standing at Rs 941.84 crore.
During early trade on April 15, stocks of Ramkrishna Forgings Limited surged by nearly 3 percent. At around 10:35 am, the shares were trading at Rs 708.95 apiece, up by Rs 20.05 points or 2.91 percent.
