Ramkrishna Forgings Q4 Review - Rising Debt Is A Key Concern: Dolat Capital
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Dolat Capital Report
Ramkrishna Forgings Ltd. printed strong numbers in Q4 FY22 led by strong growth in domestic (up 29% YoY) and export revenue (up 38% YoY) led by 3% growth in volume and 29% growth in realisation.
Despite slowdown in North America class 8 trucks new orders, export revenue was stable due to huge strong order backlog.
Ramkrishna Forgings' standalone Ebitda increased 8% QoQ to Rs 1.5 billion with strong Ebitda margin at 22% due to better geography mix and cost cutting measures.
We believe domestic revenue continues to be on a strong growth trajectory while class 8 trucks demand to improve in H2 FY22 as supply challenges ease off.
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