0

0

0

0

0

0

0

0

0

business | IST

Ramkrishna Forgings says chip shortage impacted co’s growth by 15% MoM

Mini

Naresh Jalan, MD, Ramkrishna Forgings, mentioned that demand looks strong and based on what OEMs have said, he expects things to recover in a month or so. He also said that semiconductor shortage issue has hit the industry hard.

The North America Class 8 orders dipped in September - down around 12 percent on a year-on-year (YoY) basis and almost 29 percent month-on-month (MoM), largely because of supply-side concerns, which hit the industry very hard. In an interview with CNBC-TV18, Naresh Jalan, MD, Ramkrishna Forgings, discussed the demand and supply picture.
Jalan said, “Demand is extremely strong. Things will recover very fast. Based on what we have heard from the OEMs, we expect that within a month or so, things will be better than what it is today.”
Also Read:
“We should be doing extremely well for this entire year,” he said.
According to him, the company would have seen 10-15 percent more growth MoM if chip shortage issue wasn’t there.
The semiconductor issue has hit the industry hard.
“However, I don’t think it is not going to be very challenging to improve on what performance we had over Q1,” he stated.
On price hikes, he mentioned, “We have been able to pass-through the entire commodity increase till now and everywhere the ultimate pass-on is with the end consumer.”
For the full interview, watch the accompanying video.