Small cap company Ramkrishna Forgings has released its June quarter results. Along with this, the company plans to acquire Multitech Auto, a wholly owned subsidiary of Mal Metaliks, for Rs 205 crore.

Amid this news, the share price of Ramakrishna Forgings reached Rs 508.70 on Friday, the last trading day of the week. This is the highest level of 52 weeks of the stock. Explain that the closing price of the stock was Rs 505.55. This shows an increase of 1.80% over the previous day.

How were the quarterly results: Ramakrishna Forgings reported revenue of Rs 835 crore in the June quarter, up 28 per cent year-on-year. At the same time, EBITDA of Rs 187 crore has been achieved at 22.4 percent margin. The profit stood at Rs 76 crore as against Rs 47 crore in the same period last year. During the same period the company also bagged an order worth Euro 4.5 million (Rs 40 crore) from a leading European railway passenger coach manufacturer.

Announcement of new investment: Ramakrishna Forgings has announced the acquisition of Multitech Auto. This will allow the company to focus on growing its business through both organic and inorganic growth. In December 2022, the company acquired a majority stake in Tsuyo Manufacturing to strengthen its EV portfolio. Multitech Auto Pvt, formed in January 2004, has revenue of Rs 201.97 crore and Rs 107.84 crore in FY 2022 and 2021 respectively.