Ramkrishna Forgings Q4 net profit surges 31% to Rs 87 cr

New Delhi: Ramkrishna Forgings Ltd (RKFL) on Thursday reported a 31 per cent rise in standalone net profit to Rs 87.30 crore for the January-March quarter of 2023-24.

Its net profit was at Rs 66.82 crore in the January-March period of 2022-23, the company said in an exchange filing.

The company's total income rose by 6 per cent to Rs 886.16 crore in the fourth quarter of FY24 compared to Rs 835.40 crore in the year-ago quarter.

For the full 2023-24 fiscal, the company posted a 38 per cent rise in net profit to Rs 326.07 crore compared to Rs 235.59 crore in FY23. Its total income rose to Rs 3,489.61 crore in FY24 from Rs 3,001 crore in FY23.

On financial performance, Ramkrishna Forgings Managing Director Naresh Jalan said, "The company registered a strong performance across segments and geographies, with 16 per cent growth in revenues and 38 per cent in profitability. Ebitda margin stood at 22.7 per cent driven by operating leverage and a sharp focus on cost control."

In the March quarter, the company bagged a Rs 270 crore order for the Vande Bharat Train Set, he said adding the company's board approved a manufacturing facility in Mexico.

"This will facilitate our ability to serve newer geographies more efficiently." The company's sales volume was at 23,412 metric tonnes (MT) in the last quarter of FY24 compared to 24,611 MT in Q4FY23.

Kolkata-based Ramkrishna Forgings is a manufacturer and supplier of closed-die forgings of carbon and alloy steel, micro-alloy steel, and stainless steel forgings. The company also has a presence in the US, Mexico, Turkey, and Belgium.