Ramkrishna Forgings to Foray into Aluminum Forging

Ramkrishna Forgings Ltd on Monday said the company's board has approved foraying into aluminium forging, and its first facility will come up in Jharkhand's Jamshedpur. The company will invest Rs 57.5 crore to set up the facility, primarily catering to the electric vehicle (EV) segment, with a total installed capacity of 3,000 tonnes per annum. It is expected to be commissioned by the second quarter of the 2025-26 fiscal.

At full capacity, the project is anticipated to generate additional revenue of Rs 175 crore per annum, a senior company official said.

He said Ramkrishna Forgings is entering the aluminium forging segment to contribute to the lightening of vehicles, enhance performance, fuel efficiency and reduce environmental impact.

"The upcoming aluminum forging project will significantly expand our footprint in the EV market. By focusing on engineering and technology-enabled automotive solutions, we are committed to developing sustainable pioneering technologies that align with evolving market aspirations.

"These initiatives underscore our commitment to global expansion, business diversification and sustainable growth," Ramkrishna Forgings MD Naresh Jalan said.

The Kolkata-based company posted a 3-percent rise in consolidated net profit to Rs 81 crore in the quarter ended June.