Buy Ramkrishna Forgings, target price Rs 385: Anand Rathi
Ramkrishna Forgings, incorporated in the year 1981, is a Small Cap company (having a market cap of Rs 4352.19 Crore) operating in Auto Ancillaries sector.
By ETMarkets.com | Updated:
Agencies
Anand Rathi has buy call on Ramkrishna Forgings with a target price of Rs 385. The current market price of Ramkrishna Forgings is Rs 271.05.
Ramkrishna Forgings, incorporated in the year 1981, is a Small Cap company (having a market cap of Rs 4352.19 Crore) operating in Auto Ancillaries sector.
Ramkrishna Forgings key Products/Revenue Segments include Forgings, Scrap, Other Operating Revenue, Export Incentives, Sale of services and Job Work for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 778.22 Crore, down -5.70 % from last quarter Total Income of Rs 825.24 Crore and up 29.07 % from last year same quarter Total Income of Rs 602.93 Crore. Company has reported net profit after tax of Rs 61.04 Crore in latest quarter.
The company’s top management includes Mr.Mahabir Prasad Jalan, Ms.Rekha Shreeratan Bagry, Mr.Ranaveer Sinha, Mr.Partha Sarathi Bhattacharyya, Mr.Sandipan Chakravortty, Mr.Amitabha Guha, Mr.Yudhisthir Lal Madan, Mr.Ram Tawakya Singh, Mr.Padam Kumar Khaitan, Mr.Pawan Kumar Kedia, Mr.Chaitanya Jalan, Mr.Lalit Kumar Khetan, Mr.Naresh Jalan, Mr.Sanjay Kothri. Company has S K Naredi & Co. as its auditors. As on 31-12-2022, the company has a total of 16 Crore shares outstanding.
The brokerage is of the view that for the company, export opportunities continue to increase as the company acquires new customers, enters new regions and further grows its order book. It plans to add 56,000-tons in the near term, which would primarily cater to North American and European markets for EVs. Domestic demand remains robust and is expected to sustain.
Promoter/FII Holdings
Promoters held 92.54 per cent stake in the company as of 31-Dec-2022, while FIIs owned 28.0 per cent, DIIs 9.42 per cent.
Ramkrishna Forgings, incorporated in the year 1981, is a Small Cap company (having a market cap of Rs 4352.19 Crore) operating in Auto Ancillaries sector.
Ramkrishna Forgings key Products/Revenue Segments include Forgings, Scrap, Other Operating Revenue, Export Incentives, Sale of services and Job Work for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 778.22 Crore, down -5.70 % from last quarter Total Income of Rs 825.24 Crore and up 29.07 % from last year same quarter Total Income of Rs 602.93 Crore. Company has reported net profit after tax of Rs 61.04 Crore in latest quarter.
The company’s top management includes Mr.Mahabir Prasad Jalan, Ms.Rekha Shreeratan Bagry, Mr.Ranaveer Sinha, Mr.Partha Sarathi Bhattacharyya, Mr.Sandipan Chakravortty, Mr.Amitabha Guha, Mr.Yudhisthir Lal Madan, Mr.Ram Tawakya Singh, Mr.Padam Kumar Khaitan, Mr.Pawan Kumar Kedia, Mr.Chaitanya Jalan, Mr.Lalit Kumar Khetan, Mr.Naresh Jalan, Mr.Sanjay Kothri. Company has S K Naredi & Co. as its auditors. As on 31-12-2022, the company has a total of 16 Crore shares outstanding.
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Investment RationaleThe brokerage is of the view that for the company, export opportunities continue to increase as the company acquires new customers, enters new regions and further grows its order book. It plans to add 56,000-tons in the near term, which would primarily cater to North American and European markets for EVs. Domestic demand remains robust and is expected to sustain.
Promoter/FII Holdings
Promoters held 92.54 per cent stake in the company as of 31-Dec-2022, while FIIs owned 28.0 per cent, DIIs 9.42 per cent.
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