Anand Rathi has given Buy recommendation for Ramkrishna Forgings with a target price of Rs. 1021 in its research report issued on Jul 26, 2021

Anand Rathi’s research report on Ramkrishna Forgings

New multi-year order wins across existing and new OEMs (domestic and export) and the gradual pace of recovery in the automobile segment domestically coupled with ~80% utilisation led to the highest margins for the quarter.


The foray into electric vehicles with customers acquired and focus on its product range, coupled with its Railway business would augur well for growth in the next two years. Accordingly, we upgrade our rating to a Buy, at a target of Rs1,021 (14x FY23e).

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