Ramkrishna Forging wins new order in export markets (heavy duty CV)

News: Ramkrishna Forgings in a regulatory exchange filing, informed about receipt of new order amounting to Rs 135 crore from Euroasian OEM manufacturer for the Heavy Duty Commercial Vehicle Crank Shafts (06 CYL) to be executed in next five years

Views: This came in as positive development and bodes well for the company on sales growth and profitability, going forward. RKF had an existing new order book totalling ~Rs 600 crore as of September 2021 and won new orders in Q3FY22 as well. It is targeting annual sales of ~Rs 250-300 crore+ from new order wins starting FY23-24E and is well poised to achieve the same. The company is a key beneficiary of concurrent cyclical recovery in the domestic as well as global CV space

Impact: Positive