Ramkrishna Forgings Limited

Ramkrishna Forgings Limited

RKFORGE.NS
Ramkrishna Forgings LimitedIN flagNational Stock Exchange of India
566.50
INR
-7.95
- -
102.98BMarket Cap
Ramkrishna Forgings Limited
RKFORGE.NS
(National Stock Exchange of India)

Recent

price

566.50

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
49.87
56.18
43.25
34.57
55.58
65.17
62.73
88
108.37
67.03
73.25
129.7
178.84
198.23
223.08
234.34
234.69
Revenue per Share
2.69
2.72
0.94
0.67
5.57
3.9
0.78
6.05
7.37
0.59
1.29
12.39
15.52
17.29
22.95
3.97
3.98
Basic EPS, GAAP
0.24
3.85
-13.37
-21.43
-18.9
-4.83
2.38
0.91
0.78
1.63
-5.7
-16.06
24.3
1.92
-52.22
-4.72
- -
Free Cash Flow per Basic Share
0.23
0.45
0.45
0.23
0.23
0.47
0.4
0.21
0.2
0.3
- -
0.3
1.7
1.45
2
1
- -
Dividend per Share
2
2.03
11.83
9.54
13.55
15.45
15.19
19.59
25.5
25.4
26.77
38.66
52.11
64.93
81.29
2.01
2.01
Book Value per Share
18.43
20.85
26.15
24.79
29.68
32.5
32.09
47.84
53.14
53.36
54.65
67.05
82.29
148.82
161.17
175.34
175.6
Tangible Book Value per Share
82
89
94
126
135
140
143
157
163
163
160
160
160
168
181
181
181
Basic Weighted Avg Shares
4,097
5,013
4,050
4,372
7,521
9,105
8,993
13,816
17,662
10,928
11,750
20,737
28,594
33,388
40,341
42,381
42,381
Sales/Revenue/Turnover
-6.24
10.9
11.36
7.7
13.46
14.36
8.88
14.5
14.86
6.74
8.06
15
15.53
14.62
7.15
7.31
7.31
Operating Margin (%)
210
271
227
251
316
533
750
847
1,211
1,205
1,167
1,694
2,016
2,572
2,713
3,329
3,329
Depreciation Expense
221
243
88
85
754
545
112
949
1,201
97
207
1,980
2,481
2,912
4,150
718
718
Net Income, GAAP
5.82
32.24
49.99
34.64
4.9
27.24
33.44
29.72
34.62
34.46
34.89
21.79
33.74
28.84
- -
14.54
14.54
Effective Tax Rate (%)
5.38
4.85
2.17
1.93
10.03
5.99
1.25
6.87
6.8
0.89
1.76
9.55
8.68
8.72
10.29
1.69
1.69
Profit Margin (%)
1,398
291
520
344
-52
-697
-1,617
646
1,103
-20
887
3,837
3,802
7,703
2,326
3,161
3,161
Working Capital
1,990
821
1,275
3,572
4,430
4,988
4,233
3,861
4,582
4,827
6,738
8,919
7,781
8,423
11,691
16,913
16,913
LT Debt
1,535
1,884
2,518
3,217
4,103
4,620
4,687
7,586
8,725
8,760
8,826
10,784
13,218
26,339
30,374
32,904
32,904
Total Equity
-7.21
11.89
5.86
3.26
9.73
7.53
3.79
9.28
10.11
2.64
3.09
10.08
10.93
10.66
- -
4.86
4.59
Return on Invested Capital (%)
17.72
23.46
8.21
4.1
13.06
8.38
4.7
11.63
12.87
3.66
4.2
13.05
13.83
16.11
- -
8.27
9.6
Return on Capital (%)
134.27
140.49
13.62
7.31
49.59
27.32
5.17
36.14
33.22
2.34
4.9
37.81
34.19
30.23
32.38
9.53
198.17
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
13,834
- -
7,575
LT Borrowings
12,597
- -
16,156
LT Finance Leases
788
- -
757
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
181
- -
181
Market Capitalization
97,376
94,468
84,259

Working Capital

FRC

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
25,419
- -
24,478
Cash, Cash Equivalents & STI
754
- -
1,738
Accounts Receivable, Net
9,414
- -
7,949
Inventories
13,018
- -
12,462
Total Current Liabilities
24,079
- -
21,317
Payables & Accruals
- -
- -
- -
ST Debt
13,834
- -
7,575
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
24.71%
33.53%
8.33%
Free Cash Flow
-382.83%
-654.81%
-90.96%
Net Income, GAAP
157.52%
172.12%
-82.7%
Sales/Revenue/Turnover
20.67%
31.41%
5.06%
Total Cash Common Dividend
- -
90.5%
-49.94%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
8,923
8,988
9,956
6,576
33,388
2025
9,595
10,536
10,738
9,472
40,341
2026
10,153
9,075
10,985
12,168
42,381

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
4.91
5.14
5.02
- -
17.29
2025
3.03
7.73
1.16
11.04
22.95
2026
0.65
-0.53
0.75
3.09
3.97

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
1.45
2025
- -
- -
- -
- -
2
2026
- -
- -
- -
- -
1
Business
Ramkrishna Forgings Limited is an Indian metal forging company specializing in the manufacture and supply of forged, rolled, machined, and fabricated products serving diverse sectors including automotive, railways, farm equipment, earthmoving, mining, and construction. The company’s core product offerings include forged components ranging from 0.5 kg to 200 kg such as differential gears, pinions, spindles, crown wheels, and structural forgings produced through hammer, upsetter, ring rolling, press, extrusion, and warm forging processes; machined products that involve precise turning, milling, drilling, and grinding; and rolled products like sheets, plates, bars, and structural sections. Ramkrishna Forgings also provides value-added services like product design, engineering development, tool and die manufacturing, metallurgical expertise, heat treatment, and fabrication to ensure high-quality and customized components. Founded in 1962 and headquartered in Kolkata, India, Ramkrishna Forgings operates across domestic and international markets with a growing focus on global expansion. Recent strategic developments include the acquisition of a manufacturing facility in Mexico to enhance global reach and efficiency in serving North American clients. The company secured significant orders such as a ₹270 crore contract for components for the Vande Bharat train set and a $220 million contract in the North American light vehicle segment, reflecting its strategic shift towards diversified industrial and railway sectors and expanding its footprint beyond domestic automotive reliance. In addition, Ramkrishna is actively addressing the electric vehicle transition by acquiring a stake in an electric powertrain firm, signaling a forward-looking approach to evolving industry demands. The company also completed the amalgamation of subsidiaries Mal Metalliks Private Limited and Multitech Auto Private Limited with its Ramkrishna Casting Solutions Limited entity for operational consolidation. Ramkrishna Forgings continues to focus on leveraging advanced forging technologies with an impressive capacity range of hammer forces from 0.5 to 6.5 tons, presses up to 12,500 tons, automated ring rolling lines, and warm forging for high-precision components. Its product portfolio supports safety-critical applications, particularly in railways through components like screw couplings, bolster suspensions, and draw gear assemblies. The company’s ongoing capacity expansions and technological advancements aim to meet increasing demand from growing sectors such as mining, railways, and international automotive markets. Ramkrishna Forgings Limited is publicly traded on the National Stock Exchange of India under the ticker RKFORGE.NS. Its sustained growth through innovation, capacity addition, strategic acquisitions, and diversification underscores its role as a key supplier in the metals forging industry both in India and globally. The company maintains a focus on cost efficiencies and operational excellence as part of its long-term strategy to penetrate newer geographies and broaden its client base.