Ramkrishna Forgings acquires Multitech Auto & Mal Metalliks
Ramkrishna Forgings Ltd. has successfully acquired Multitech Auto Private Ltd. and its wholly-owned subsidiary Mal Metalliks Private Limited for a cost of Rs 205 crore, a significant step towards strengthening its position in the automotive sector.
The recently acquired businesses, Multitech Vehicle and Mal Metalliks, are experts in producing a range of vehicle parts, including differential cases, differential covers, gear assemblies, shift cylinders, and various hub kinds.
Ramkrishna Forgings’ growth plan, which aims to broaden its product range and strengthen its position in the passenger cars, light commercial vehicles, and heavy commercial vehicles categories, must include this strategic purchase as a key step.
In a statement, a representative for the business said, “We are delighted with this acquisition as it opens up exciting avenues for expansion and further cements our commitment to delivering exceptional value to our customers. By expanding into the production and supply of complete differential assemblies and trailer axle assemblies comprising Casting and Forgings, we position ourselves as a key player in the market.”
Ramkrishna Forgings also paid Rs 7 crore to buy Mal Auto Products Private Limited as part of the agreement, expanding its expansion opportunities.
The firm predicts a considerable improvement in its financial performance as a result of this strategic decision, with an estimated turnover likely to reach Rs 500–600 crore within the next two years.
“Through the integration of these companies, we are poised to strengthen our market presence and offer enhanced value propositions to our esteemed customers,” said Lalit Khetan, Whole Time Director & CFO of Ramkrishna Forgings. This growth opens up a wealth of possibilities for our success and future growth.
About Ramkrishna Forgings:
Ramkrishna Forgings Ltd. specializes in the production of iron and steel forgings. The company’s primary focus lies in manufacturing components for the automotive industry. Additionally, they supply their products to various other sectors such as railways, aerospace, defense, material handling, construction equipment, and mining.
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