TNI || New Delhi || 15th March 2022
According to a regulatory filing, Ramkrishna Forgings Limited, an auto components supplier, has received orders worth approximately Rs 70 crore from a US-based axle maker.
The contract happens to be for a light commercial vehicle (LCV), and it will last for more than five years, according to the company.
The major acknowledgement of the project in rear axle applications will help them encourage sustained export revenue growth, says Vice President (Marketing), Ramkrishna Forgings, Milesh Gandhi.
He adds that the ongoing efforts to promote the brand in the world market have aided them in growing their export sales and strengthening their existing ties with international consumers.
Due to its improved demand predictability, the company is trying to expand its presence in the LCV industry.
Ramkrishna Forgings, situated in Kolkata, counts among its customers Tata Motors, Ashok Leyland, VE Commercial, and Daimler in India, as well as Volvo, Iveco, Mack Trucks, IUD Trucks, MAN, DAF, Scania, and Ford Otosan in international markets.
The company also serves Tier 1 axle manufacturers such as Dana, Meritor, and American Axles on a global scale.
Meanwhile, during the company’s Q3FY2022 investor call in January, it said it had won six contracts for Rs 220 crore from diverse geographies and industry verticals.