Accumulate Ramkrishna Forgings; target of Rs 650: Dolat Capital Market

Dolat Capital Market’s research report on Ramkrishna Forgings
Ramkrishna Forgings (RMKF) reported a strong set of numbers with Revenue/EBITDA growth of 60/65% YoY led by recovery in both, domestic and export revenue and cost control measures. Domestic business jumped 75% YoY at Rs 2.43bn led by recovery in M&HCV segment, increase in content per vehicle and incremental revenue from LCV division. Export too shot up by 45% to Rs 1.56bn, driven by recovery in the North America Class 8/Class 5 truck…

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