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Ramkrishna Forgings on Monday announced that it has bagged a four-year contract worth Rs 113.16 crore.

The leading supplier of rolled, forged, and machined products informed the exchanges that a major tier-1 manufacturer of rear and front axles has awarded a four-year contract for the supply of heavy-duty commercial vehicles for its European application worth 13.8 million euros or Rs 113.16 crore.

The management said that the order win strengthen's the company's European portfolio further and raises the profile of its international operations.

Executive Director and CFO Lalit Khetan told CNBC-TV18 last month that the company had won an order for supplying metal bars and has a business potential of almost Rs 80 crore per year.

“This will be to our European OEM and this will start from the next financial year,” Khethan told CNBC-TV18.

The company had bagged a Rs 121.50 crore contract from a Swedish original equipment manufacturer. It had also received an order worth Rs 131.50 core earlier this month, from a tier 1 rear and front axle maker from the United States.

Shares of Ramkrishna Forgings are trading 3 percent higher at Rs 229.35 as of 3 PM. The stock is trading close to its 52-week high of Rs 237.

(Edited by : Rukmani Krishna)