Ramkrishna Forgings Ltd has announced its expansion into aluminium forging, with its first facility set to be established in Jamshedpur, Jharkhand. The company will invest Rs 575 million in the new plant, which will have an annual capacity of 3,000 tonnes and is slated to commence operations by the second quarter of the 2025-26 fiscal year.
The new facility aims to cater primarily to the electric vehicle (EV) segment, expected to generate an additional revenue of Rs 1.75 billion annually at full capacity. This move aligns with the company's focus on lightweighting vehicles to boost performance, fuel efficiency, and reduce environmental impact.
Ramkrishna Forgings' MD, Naresh Jalan, highlighted that this project will significantly enhance their presence in the EV market and demonstrate their commitment to technological innovation and sustainable growth. The company recently reported a 3% increase in consolidated net profit to Rs 810 million for the quarter ending June.