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Ramkrishna Forgings: time to buy amid weakness?

What could act as a key growth catalyst for Ramkrishna Forgings in the near term is the vehicle scrappage policy, which is back on the radar

September 23, 2020 / 04:42 PM IST
Ramkrishna Forgings: time to buy amid weakness?

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Ramkrishna Forgings (RMKF) (CMP: Rs 275, Mcap: Rs 884 crore) posted a weak set of numbers in Q1 FY21. Marred by pandemic-led disruptions, the company’s revenues fell sharply and the operating margin turned negative. Quarter in a nutshell (image) Key highlights Reflecting the pain in the automobile industry due to the pandemic, RMKF’s June quarter revenues fell 69.5 percent driven by volume decline of 72.3 percent. Both domestic and exports businesses reported a sharp drop in volume and sales. The earnings before interest, tax, depreciation and amortisation (EBITDA) turned...

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