Ramkrishna Forgings, a key supplier of rolled, forged, and machined products, announced on September 2, that its board has approved the establishment of an aluminium forging facility in Jamshedpur. This strategic move aims to expand the company's presence in the electric vehicle (EV) market.

The company revealed that the board has sanctioned an investment of Rs 575 million for the project. The facility will have a total installed capacity of 3,000 MT per annum and is expected to be operational by Q2 FY26. Once operating at full capacity, the project is projected to generate an additional Rs 1.75 billion in annual revenue for the company.

Naresh Jalan, Managing Director, Ramkrishna Forgings, commented on the development, stating, "In another step towards accelerating the transition to sustainable transportation, we are proud to announce our upcoming Aluminium Forging Project, which will significantly expand our footprint in the EV market. Our focus on engineering and tech-enabled automotive solutions aligns with the future of mobility, and our innovation efforts are geared towards developing pioneering technologies that are both sustainable and tailored to the evolving needs of the market and our customers."

(Upstox)