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Demand will be very strong in FY21, says Ramkrishna Forgings

Updated : December 03, 2020 10:06 AM IST

North American Class 8 truck orders exploded in November, up three times on a year-on-year (YoY) basis. This has been the best performance since August 2018.

Naresh Jalan, MD, Ramkrishna Forgings shared his views as well as an outlook on the business going forward.

“Demand is going to be extremely strong going into FY21 for the whole year,” he said in an interview with CNBC-TV18.

“We are doing quite well and going forward also traction from exports both from North America and Europe are good,” he said.

“Class 8 trucks continue to do well and we feel that in 2021, the Class 8 trucks are going to be extremely doing well,” he said.

Ramkrishna Forgings has advance visibility of close to around 6 months from now.

“Till June we have the visibility and that is completely full,” he mentioned.

According to him, the domestic commercial vehicle (CV) segment is not out of the woods.

“Slowly we are coming back. It will take another six months before we are completely out of woods. Our capacity utilization on the domestic side is close to around 60 percent and export capacity utilization is at 100 percent,” he said.

On margins, Jalan said, “We will be improving on margins. As capacity utilization goes on improving, margins are going to continuously improve.”

For more watch the video

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