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Ramkrishna Forgings Limited RKFORGE NIFTY_SMALLNSEINFRA

Industrials · Metal Fabrication · India
https://ramkrishnaforgings.com

Ramkrishna Forgings Limited engages in the manufacture and sale of forged components for automobiles, railway wagons and coaches, and engineering parts in India and internationally. It operates in two segments, Forging Components and Others. The company's products portfolio includes beam, knuckle, steering arm, tie-rod-arm, sector shaft, front hub, crankshaft, camshaft, connecting rod, piston, pitman arm, BC lever assembly, mounting bracket, yoke, UJ cross, transmission gear and shaft, crown wheel, pinion, differential case and case cover, differential gear and pinion, spindle, rear axle shaft, spider, helical gear, tube flange and shaft, and tube yoke products. It also offers bucket, backhoe bucket, shovel, track line and roller, bucket tooth, pivot pin, prop shaft, and bearing centre products; and wing nut, valve bonet, T-bolt socket joint, and tooth crusher hammer products. In addition, the company provides bogie frame and bolster, screw coupling, hanger, draw gear assembly, anti roll bar assembly, control arm support, center pivot pin, centering disc, traction center, and guide products. Further, it offers tractor-trailer products, such as trailer axle, air and mechanical suspension, landing leg, and bolton and weldable king pin products; as well as engages in the sanitization and cargo, and tour and travel businesses. The company offers its products for various industries and sectors, including automotive, earth moving and mining, farm equipment, power, construction, general engineering, railways, and oil and gas, as well as for original equipment manufacturers. Ramkrishna Forgings Limited was incorporated in 1981 and is headquartered in Kolkata, India.

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₹566.40
-4.81% 1Y

Market & Price

Market Cap
₹10,278.65 Cr
Current Price
₹566.40
High / Low (52W)
₹682.15 / ₹461.96
Beta
0.41

Valuation

Stock P/E
143.03
Industry PE
27.78
Forward P/E
26.59
PEG Ratio
-
Book Value
₹181.76
Price to Book
3.12
P/S
2.43
EV/EBITDA
19.50
Dividend Yield
0.35%

Profitability & Returns

ROCE
5.83%
ROE
2.27%
ROA
2.82%
Profit Margin
1.69%
Op Margin
9.84%
EPS (Latest Qtr)
₹3.07
EPS (TTM)
₹3.96

Balance Sheet & Liquidity

Debt/Equity
0.74
Quick Ratio
0.45
Current Ratio
1.15
Debt
₹2,448.77 Cr
Total Assets
₹7,177.95 Cr
Current Assets
₹2,447.75 Cr
Working Capital
₹316.08 Cr

Ownership

Promoter Holding
60.84%
Chg in Prom Hold
-
FII / Inst Holding
14.64%
Chg in FII Hold
-

Financial Snapshot

Enterprise Value
₹12,535.89 Cr
Total Revenue (TTM)
₹4,238.08 Cr
EBITDA
₹642.70 Cr
Free Cash Flow
₹-269.46 Cr
Operating Cash Flow
₹839.76 Cr
Shares Outstanding
₹18.15 Cr
Gross Margin
43.16%
Payout Ratio
25.32%

Growth (CAGR)

Revenue 5Y
14.02%
Profit 5Y
-33.86%
Revenue (YoY)
28.50%
Earnings (YoY)
24.40%

PROS

  • Compounding revenue at 14.0% over 5 years.
  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

  • Trading at a high P/E of 143.0.
  • Earnings shrank at -33.9% CAGR over 5 years.

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Industrials).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 RKFORGE Ramkrishna Forgings Limited NIFTY_SMALLNSEINFRA 566.40 143.03 ₹10,278.65 Cr 0.35% 5.83% 2.27% 14.02% -33.86%
2 LT Larsen & Toubro Limited NIFTY50NSEAIINFRA 4,076.50 34.84 ₹5.61 L Cr 0.93% 14.55% 16.95% 16.09% 15.38%
3 ADANIPORTS Adani Ports and Special Economic Zone Limited NIFTY50NSEINFRA 1,804.60 30.96 ₹4.16 L Cr 0.42% 11.02% 15.59% 22.93% 34.11%
4 HAL Hindustan Aeronautics Limited NSEAIDEFENCEINFRAPSU 4,303.80 31.55 ₹2.88 L Cr 1.16% 13.80% 23.98% 7.87% 16.08%
5 POWERINDIA Hitachi Energy India Limited NIFTY_MIDNSEINFRA 38,445.00 172.41 ₹1.71 L Cr 0.02% 24.92% 21.04% 22.24% 119.12%
6 INDIGO InterGlobe Aviation Limited NSEINFRA 4,405.00 - ₹1.70 L Cr 0.24% 15.53% - 44.12% 72.60%
7 CUMMINSIND Cummins India Limited NSEINFRA 5,881.00 68.97 ₹1.63 L Cr 1.12% 34.95% 29.45% 16.07% 24.35%
8 CGPOWER CG Power and Industrial Solutions Limited NSEINFRA 917.45 118.99 ₹1.44 L Cr 0.14% 19.35% 19.56% 21.67% 7.81%
9 POLYCAB Polycab India Limited NIFTY_MIDNSEAIINFRA 9,477.50 53.48 ₹1.43 L Cr 0.37% 30.44% 24.58% 26.57% 28.11%
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Quarterly Results

Figures in INR.

Metric Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue -947.21 Cr1,015.26 Cr907.53 Cr1,098.52 Cr1,216.78 Cr
Cost of Revenue -542.73 Cr564.00 Cr494.86 Cr657.56 Cr692.50 Cr
Gross Profit -404.49 Cr451.26 Cr412.67 Cr440.96 Cr524.28 Cr
Operating Expenses -390.68 Cr382.32 Cr370.51 Cr361.99 Cr404.54 Cr
Operating Income -13.81 Cr68.94 Cr42.16 Cr78.97 Cr119.74 Cr
EBITDA -109.69 Cr145.57 Cr123.45 Cr153.61 Cr204.62 Cr
Interest Expense -48.64 Cr48.59 Cr53.34 Cr51.10 Cr57.32 Cr
Pretax Income --23.65 Cr17.32 Cr-10.27 Cr18.11 Cr58.86 Cr
Tax Provision --223.48 Cr5.53 Cr-77.43 L4.54 Cr2.92 Cr
Net Income -199.83 Cr11.79 Cr-9.50 Cr13.56 Cr55.94 Cr
Diluted EPS -11.040.65-0.530.753.07

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue -2,859.42 Cr3,338.84 Cr4,034.11 Cr4,238.08 Cr
Cost of Revenue -1,944.60 Cr2,284.94 Cr2,245.51 Cr2,408.91 Cr
Gross Profit -914.83 Cr1,053.90 Cr1,788.60 Cr1,829.16 Cr
Operating Expenses -470.64 Cr565.81 Cr1,500.33 Cr1,519.35 Cr
Operating Income -444.18 Cr488.10 Cr288.27 Cr309.81 Cr
EBITDA -662.49 Cr751.12 Cr584.83 Cr627.25 Cr
Interest Expense -86.41 Cr96.37 Cr165.86 Cr210.34 Cr
Pretax Income -374.44 Cr397.53 Cr147.69 Cr84.01 Cr
Tax Provision -126.33 Cr114.65 Cr-183.86 Cr12.22 Cr
Net Income -248.11 Cr291.21 Cr415.03 Cr71.80 Cr
Diluted EPS -15.4317.1422.953.95

Compounded Sales Growth

5 Years:14.02%
1 Year:28.50%

Compounded Profit Growth

5 Years:-33.86%
1 Year:24.40%

Stock Price Performance

1 Year:-4.81%
6 Months:+6.69%
3 Months:+4.29%
1 Month:-5.18%

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets -3,730.44 Cr5,257.81 Cr6,557.29 Cr7,177.95 Cr
Current Assets -1,850.39 Cr2,323.54 Cr2,507.55 Cr2,447.75 Cr
Cash & Equivalents -44.53 Cr173.13 Cr16.03 Cr162.23 Cr
Inventory -906.91 Cr1,049.95 Cr1,254.29 Cr1,246.15 Cr
Receivables -775.22 Cr849.94 Cr975.35 Cr794.93 Cr
Total Liabilities -2,408.67 Cr2,623.93 Cr3,519.92 Cr3,887.55 Cr
Current Liabilities -1,470.21 Cr1,553.20 Cr2,274.98 Cr2,131.68 Cr
Long Term Debt -757.59 Cr766.65 Cr1,082.69 Cr1,615.57 Cr
Total Debt -1,333.40 Cr1,206.53 Cr2,126.50 Cr2,448.77 Cr
Total Equity -1,321.76 Cr2,633.88 Cr3,037.37 Cr3,290.40 Cr
Shares Outstanding -15.99 Cr18.08 Cr18.10 Cr18.17 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow -745.28 Cr621.06 Cr32.54 Cr839.75 Cr
Investing Cash Flow --299.19 Cr-1,117.45 Cr-911.72 Cr-928.59 Cr
Financing Cash Flow --437.74 Cr625.00 Cr722.07 Cr235.04 Cr
Capital Expenditure --356.75 Cr-588.73 Cr-976.87 Cr-925.10 Cr
Free Cash Flow -388.53 Cr32.33 Cr-944.32 Cr-85.35 Cr
Net Change in Cash -8.35 Cr128.60 Cr-157.10 Cr146.20 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % -32.0%31.6%44.3%43.2%
Operating Margin % -15.5%14.6%7.1%7.3%
Net Margin % -8.7%8.7%10.3%1.7%
ROE % -18.8%11.1%13.7%2.2%
ROCE % -19.7%13.2%6.7%6.1%

Shareholding Pattern

Insiders
60.84%
Institutions
14.64%
Public Float
37.38%

Analyst View

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