Industrial Products company Ramkrishna Forgings announced Q4FY23 & FY23: Q4FY23 vs Q4FY22: Total Income: Rs 83,540 lakh vs Rs 68,324 lakh, up 22% EBITDA: Rs 18,816 lakh vs Rs 15,102 lakh, up 25% EBITDA Margin: 22.5% vs 22.1% PAT: Rs 6,682 lakh vs Rs 8,665 lakh, down 23% PAT Margin: 8.0% vs 12.7% FY23 vs FY22: Total Income: Rs 3,00,100 lakh vs Rs 2,28,537 lakh, up 31% EBITDA: Rs 66,819 lakh vs Rs 52,697 lakh, up 27% EBITDA Margin: 22.3% vs 23.1% PAT: Rs 23,559 lakh vs Rs 20,650 lakh, up 14% PAT Margin: 7.9% vs 9.0% Commenting on the results Naresh Jalan, Managing Director, Ramkrishna Forgings said: “Our business model is both diverse and robust, which has resulted in a sustained growth momentum. Our strategy to expand our product offering in conjunction with the high customer demand has led to a 31% year-on-year increase in revenues for this fiscal year. Our global geographical outreach has enabled us to secure new orders and strengthen our order book. As of March 31, 2023, we have successfully reduced our gross debt by 21%, and it currently stands at Rs. 1,24,100 lakhs. We remain committed to reduce debt. The commercial vehicle segment has experienced steady growth following the festive season due to high fleet utilization resulting from increased economic and infrastructure activity. I am delighted to announce that we have renewed our long-term contract with an Overseas Tier 1 customer based in North America, which includes an additional new product range. Furthermore, the consortium of Ramkrishna Forgings Limited and Titagarh Wagons Limited has received the LOA from the Ministry of Railways, Government of India, for 'Manufacturing and Supply of Forged Wheels under long-term agreement under Aatma Nirbhar Bharat.' We anticipate that the commercial vehicle market will continue to grow, and we are committed to maintaining our strong market share by focusing on a customer-centric approach that offers advanced and value-added products worldwide.” Result PDF