Synopsis
The company plans to add a capacity of 56,000 tonnes by October 2023 and another 50,000 tonnes by March 2024 taking the total capacity to 3,00,000 tonnes. With this, the company will be able to offer hot, cold and warm forging, which will expand the addressable market proportion to 85% from 66% at present
ET Intelligence Group: Ramkrishna Forgings, which supplies components to leading truck makers, plans to reduce cyclicality in earnings by focusing more on non-automobile sectors and exports revenue. Reduction in debt will help in narrowing its valuation discount compared with larger peer Bharat Forge. Ramkrishna is expected to maintain 15-20% top line growth for the next two years given the expanding pie of addressable market in the core forging
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