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Ramkrishna Forgings Chairman's Speech > Engineering - Heavy > Chairman's Speech from Ramkrishna Forgings - BSE: 532527, NSE: RKFORGE
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Ramkrishna Forgings

BSE: 532527|NSE: RKFORGE|ISIN: INE399G01015|SECTOR: Castings & Forgings
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Chairman's Speech (Ramkrishna Forgings) Year : Mar '08
2007-08 was eventful for us, as it brought both successes and
 unforeseen challenges.  I am happy to report that your Company has been
 able to leverage the successes to offset the perils and produce
 sustainable gains: we posted a Rs. 236-crore turnover as on March 31,
 2008. Performance would have been better but for the ring rolling
 facilities not stabilizing in the expected time however, your Company
 should earn a full years benefits in 2008-09.  and targets to achieve
 a growth rate of more than 50 percent for the financial year 2008-09.
 We expect to hit it, having provided for the looming recessionary
 trends, on the strength of the various measures undertaken during the
 year, which are as follows:
 
 Many cost reduction initiatives have been taken which will help to
 conserve energy and furnace oil and expected to yield substantial cost
 savings . The Company is also planning to implement Total Quality
 Management (TQM) and Total Productive Maintenance (TPM) which will
 improve equipment performance, production efficiency and timely
 delivery of service and products.
 
 The commercial vehicle sector recorded a 3.1 percent growth over
 2007-08 driven primarily by an increase in light commercial vehicles.
 However, inflation and interest rates have created significant
 pressure. Ramkrishna Forgings, in order to mitigate the slowdown in the
 industry, has diversified its customer base and increased its thrust on
 exports. The advent of our ring rolling facility has already increased
 our roster of international customers and will help the Company realise
 improved margins.  The industry is also facing several hurdles in the
 form of steel and oil price increases which adversely impacted input
 costs. The Company is taking all-round measures to improve efficiencies
 productivity to control costs. With an expected CAGR of 20.4 percent
 over the next five years, the outlook for the industry is extremely
 upbeat.
 
 The stabilisation of the ring rolling line will provide the Company
 with a competitive edge on account of higher productivity, better yield
 of raw materials and better quality of the components. The installed
 gear cutting and testing facilities of the Company are of superior
 technology. The Company also boasts one of the few completely automated
 plants in the country which improves product quality while reducing
 labour costs. Additionally, it is one of the few approved suppliers to
 Indian Railways, providing critical safety items. Increasing the
 capacity of machining facilities and improving efficiencies is our
 current focus.
 
 The main focus of the Company will be to consolidate the expansion
 undertaken and provide the necessary balancing equipments to improve
 upon the efficiencies and utilise the existing capacities more
 efficiently.
 
 In this aspect the Company will be installing new cnc shaving, shaping
 and hobbing machines in the machining section which will not only
 enhance our machining capabilities but will allow us to balance out our
 existing heat treatment capacity. Similarly in the ring rolling
 division the Company will install more machining centres to enhance the
 machining capacities, drilling machines to improve efficiencies and a
 billet cutting machine to augment our raw material cutting facilities
 With all new inputs in place, I have every confidence that Ramkrishna
 Forgings will record a superior performance at the end of the current
 year.
 
 Warm regards,
 
 Mahabir Prasad Jalan
 Chairman
Source : Dion Global Solutions Limited
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