Other Industrial Products company Ramkrishna Forgings announced Q1FY24 results: Q1FY24 vs Q1FY23: Revenue: Rs 83,595 crore vs Rs 65,075 crore, up 28% YoY EBITDA: Rs 18,754 crore vs Rs 14,370 crore, up 31% YoY EBITDA Margin: 22.4% vs 22.1% PAT: Rs 7,697 crore vs Rs 4,726 crore, up 63% YoY PAT Margin: 9.2% vs 7.3% Overall capacity utilization was 92% for Q1FY24, 103% in Q4FY23 and 78% in Q1FY23 The board has approved an investment to acquire Multitech Auto Private Limited and its wholly-owned subsidiary Mal Metalliks Private Limited Commenting on the results Naresh Jalan, Managing Director, Ramkrishna Forgings said: “Our company is committed to stringent capital allocation practices, aimed at improving return ratios and generating higher shareholder value. We prioritize sustainable growth and profitability by carefully evaluating investment opportunities and integrating sustainability principles into our operations. Through automation and artificial intelligence, we are in the process of enhancing operational efficiency, increasing productivity, and addressing evolving customer demands. Our focus on improving return on capital employed (ROCE) and return on equity (ROE) drives financial performance. We remain vigilant and closely monitor macroeconomic risks, proactively mitigating them by prioritizing customer relationships and delivering excellent service. We are dedicated to proactively positioning ourselves for future growth and increasing our market share. Our strategic focus revolves around preparing for improved market conditions, ensuring that we are well-prepared to seize opportunities. This includes our efforts to enhance our capacity, aligning our actions with our long-term vision to thrive and succeed in the future. Additionally, we are actively working towards reducing our debt burden, targeting a Debt to EBITDA level of 1:1 by FY25. This disciplined approach will strengthen our financial position, reduce risks, and provide us with the flexibility to pursue growth opportunities.” Result PDF