Ramkrishna Forgings Ltd. said that its board has approved the company’s entry into the aluminum forging market, with Jamshedpur, Jharkhand, serving as the location of the first facility.
With a total installed capacity of 3,000 tons annually, the plant will primarily serve the electric vehicle segment and will require an investment of Rs 57.5 crore from the company. It is anticipated to be put into service by the second quarter of the fiscal year 2025–2026.
According to a senior corporate executive, the project is expected to produce additional revenue of Rs 175 crore annually when it is operating at full capacity.
According to him, Ramkrishna Forgings is joining the aluminum forging market to help lighten cars, improve performance, cut down on fuel consumption, and lessen their environmental effect.
Our presence in the EV market will be greatly increased by the forthcoming aluminum forging project. We are dedicated to creating innovative technologies that are sustainable and in line with changing market demands by concentrating on engineering and technology-enabled automotive solutions.
Naresh Jalan, MD of Ramkrishna Forgings, stated, “These initiatives highlight our commitment to global expansion, business diversification, and sustainable growth.”
The Kolkata-based business reported a 3% increase in consolidated net profit for the quarter that ended in June, coming in at Rs 81 crore.
