Ramkrishna Forgings Q3 Results Review - Moving Into Right Direction: Dolat Capital

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Dolat Capital Report.RamKrishna Forgings Ltd. printed solid numbers in Q3 FY24 led by 17.7% QoQ growth in domestic segment (due to rise in production volume of TAMO) while export segment de grew -11.4% QoQ, hampered by slow down due to Christmas holidays. We expect export numbers to improve in coming quarters on the back of increasing order backlog in class 8 trucks, which will reflect in numbers in coming quarters. Ebitda margin expanded 10 basis points QoQ and 88 bps YoY, to 23%, led by operating leverage and sharp focus on cost control. Diversification of business into railway and casting, adding warm and cold forging capacity, new business acquisitions, and deleveraging their balance sheet through QIP are key positives for medium to long term. In addition, increasing capacity and product diversification would help in acquiring new clients and top line growth. We increase EPS estimate by 8/7% for FY25/26E and recommend 'Accumulate' with SOTP target of Rs 845 (core standalone-Rs 742, Railway- Rs 36 and Multitech Auto Pvt. Ltd.- Rs 41, JMT Auto Ltd.- Rs.25)..Click on the attachment to read the full report:.Supreme Industries Q3 Results Review - Healthy, Inline; Strong Volume Growth To Sustain: Systematix.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Ramkrishna Forgings Q3 Results Review - Moving Into Right Direction: Dolat Capital

Ramkrishna Forgings along with Titagarh Wagons Consortium (51:49) received order for supply of forged wheels for the Indian railways.

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