{"id":182266,"date":"2026-05-04T07:43:32","date_gmt":"2026-05-04T11:43:32","guid":{"rendered":"https:\/\/alphastreet.com\/india\/ramkrishna-forgings-ltd-rkforge-q4-2026-earnings-call-transcript\/"},"modified":"2026-05-04T07:43:32","modified_gmt":"2026-05-04T11:43:32","slug":"ramkrishna-forgings-ltd-rkforge-q4-2026-earnings-call-transcript","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/ramkrishna-forgings-ltd-rkforge-q4-2026-earnings-call-transcript\/","title":{"rendered":"RAMKRISHNA FORGINGS LTD (RKFORGE) Q4 2026 Earnings Call Transcript"},"content":{"rendered":"

Note:<\/strong> This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon.<\/em><\/p>\n

RAMKRISHNA FORGINGS LTD (NSE: RKFORGE) Q4 2026 Earnings Call dated May. 04, 2026<\/span><\/strong><\/p>\n

Corporate Participants:<\/h2>\n

Lalit Khetan<\/strong> \u2014 Whole-Time Director and Chief Financial Officer<\/em><\/p>\n

Unidentified Speaker<\/strong><\/p>\n

Milesh Gandhi<\/strong> \u2014 Whole-Time Director<\/em><\/p>\n

Analysts:<\/h2>\n

Anamalai Jayaraj<\/strong> \u2014 Analyst<\/em><\/p>\n

Balasubramanian<\/strong> \u2014 Analyst<\/em><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Saket Saurabh<\/strong> \u2014 Analyst<\/em><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Presentation:<\/h2>\n

Operator<\/strong><\/p>\n

Ladies and gentlemen, good day and welcome to the RK Forgings Limited Q4FY26 earnings conference call hosted by 361 Capital Market Private Limited. As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing Star then zero on your Touchstone phone. I now hand the conference over to Mr. Anamalai Jayaraj from 361 Capital Market Private Limited.<\/p>\n

Thank you. And over to you sir.<\/p>\n

Anamalai Jayaraj<\/strong> \u2014 Analyst<\/em><\/p>\n

Thanks on behalf of 361 Capital Market for 26 and FY26 from the management. Cfo Mr. Rajas in finance and company psychedelics. I’ll now hand over the call to the management for opening remarks to be followed by the question and answer.<\/p>\n

Lalit Khetan<\/strong> \u2014 Whole-Time Director and Chief Financial Officer<\/em><\/p>\n

Thank you. Thank you Jairaj. Good evening everyone and thank you for joining us on this call to discuss the Q4 FY26 earnings. I trust all of you have had a chance to review the earnings document that we have shared with you. In Q4FY26 the global macroeconomic environment turned incrementally more challenging although conditions continue to vary significantly across regions and sectors. While the quarter commenced on a relatively stable footing carrying forward momentum from the prior period, the outbreak of conflict in Middle east adversely impacted operating conditions towards the later part of the quarter.<\/p>\n

As a result, the energy price volatility, persistent inflationary pressures and reduced supply chain disruption created uncertainty for a certain business environment. In contrast, the domestic macroeconomic environment remains relatively favorable. India continue to stand out as one of the fastest growing major economies supported by resilient consumption, sustained government capex in infrastructure activity and improving manufacturing momentum. Against this backdrop, we are pleased to report an improved performance in the fourth quarter enabling us to end FY26 on a strong note.<\/p>\n

Volumes in domestic market have been strong following the GST rate recession in September. There has been sustained momentum in domestic auto industry in India. This resulted in sustained momentum in wholesale volumes with all segments such as MSEV tractors PV’s reporting double digit growth in the fourth quarter. As we had indicated, the railway business has been a strong pillar of growth. We have taken steps to deepen our footprint and enhance capabilities in this segment in recent years. These are now paying dividends as the sale of business from railway has grown to 7.5% of revenue in this year against 4.6% a year ago.<\/p>\n

Now let me share some financial highlights for the quarter. We reported Consolidated revenues of 1216.78 core that is higher by 28% on year on year basis compared to 947.21 core in Q4FY25 on a quarter quarter basis Revenue were higher by 11% compared to 1098.524 in Q3FY26. Strong performance in domestic market supported by resizing performance in international market has helped us to deliver solid top line growth on a year on year basis as well as on Q and Q basis. EBITDA excluding Other income is rupees 208.19 crore in Q4 higher by 111% year on year compared to EBITDA of 98.5 crore in Q4FY25 on Q&Q basis.<\/p>\n

EBITDA was higher by 27% compared to 163.37 crore in Q3FY26. The margin improvement to the margin improved to 17.1% higher by almost 220 basis points. Quarter on quarter profit before tax is 64.33 crore in Q4FY26 compared to 29.69 crore in Q3FY26 reflecting a 117% quarter on quarter growth. Profit in the consolidated driven accounts has been impacted by around rupees 10.4 core due to elimination of profit of 5.9 core from the subsidiaries and loss of 4 and half cr from the Mexico subsidies. Otherwise the profit could have been much higher on the consolidated basis on the full year numbers we reported Consolidated revenue of Rupees 4238 crore for the full year FY26 that is higher by 5% on year on year basis compared to 4034 core in FY25.<\/p>\n

EBITDA stood at 642.70 crore for FY26 that is higher by 15% year on year compared to 559.564 in FY25. Profit before tax is 112.58 crore in FY26 compared to 148.79 crore excluding excess item FY25 that is lower by 24% year on year and additionally our rail wheel joint venture remains on track with commercial production anticipated by Q1FY27. With these growth levers firmly in place, we are confident that from the next quarter onwards we will return to further improved operating territory and look to sustain the momentum throughout FY27.<\/p>\n

With that I would like to hand over the proceeding to Mr. Millesh Gandhi who time director. Thank you. Over to Milesh.<\/p>\n

Anamalai Jayaraj<\/strong> \u2014 Analyst<\/em><\/p>\n

Thank you. During the Q4 the company secured new orders worth 594 crores. With the program life of 4 years. 56% of these orders were from automotive segment and and balanced 44% were from the non automotive segment. Reflecting continued progress in company’s diversification strategy. Out of the 594 crores 334 crores came in the auto sector. From in the auto sectors. Of the 23 crores came from the CE sector. And 11 crores came from the EV sectors. And in the non auto sector 258 crores came from the energy segment itself.<\/p>\n

And 2 crores from the off highway. That’s from my side. Thank you.<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

Thank you. Miles over to you Jairaj.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press star and one on the Touchstone telephone. If you wish to remove yourself from the question queue you may press star and two participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles.<\/p>\n

Anamalai Jayaraj<\/strong> \u2014 Analyst<\/em><\/p>\n

Before somebody joins on the question queue. Sir, how is the demand facing in US market, Sir? Hello.<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

Hello.<\/p>\n

Anamalai Jayaraj<\/strong> \u2014 Analyst<\/em><\/p>\n

Am I audible, sir?<\/p>\n

Unidentified Speaker<\/strong><\/p>\n

Yes.<\/p>\n

Anamalai Jayaraj<\/strong> \u2014 Analyst<\/em><\/p>\n

Okay. No, I was asking how is the how is Class 8 volumes picking up in the recent times?<\/p>\n

Questions and Answers:<\/h2>\n

Milesh Gandhi<\/strong><\/p>\n

I think Class 8 trucks are very very strong right now. I think since last three months we are seeing destocking happening in our warehouses in North America. And I think we are looking at fresh revenues coming in from this quarter onwards from North America. Class 8 trucks in significant manner.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

And we expect it to sustain for some time.<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

At least for two years. It is good to say that it’s going to stay till third quarter of calendar year 27.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We have first question from Bala Subramanian from Aryan Capital. Please go ahead.<\/p>\n

Balasubramanian<\/strong><\/p>\n

Good evening sir. Thank you so much for the opportunity. Sir, on that field set planned I mentioned it will be commencing from Q105 27 onwards. We have submitted 300 trial bills and offered approval. And from Q1 onwards what kind of run rate we can expect a quarter on quarter basis in terms of volume.<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

No. I think 300 wheels we are supposed to submit in the month of June or July. I think when Lally said we are going to commence production it means we are starting the plant. I think probably by end of May. May or June wherein we will start Manufacturing wheels and commercial production will start immediately. So 300 wheels. We don’t need to wait for 300 wheels to get approved. Once the 300 wheels are supplied, we can continue supply. This year we are looking at supplying almost 40,000 wheels from that plant to the Indian Railways.<\/p>\n

Balasubramanian<\/strong><\/p>\n

So this will start from coming financial year and onwards. Right sir. The 40,000 wheels will be reflect FY27 onwards.<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

FY27 onwards.<\/p>\n

Balasubramanian<\/strong><\/p>\n

Okay. So what kind of relationship level we can expect sir after for 2 lakh. So the 40,000 will be delivered in this financial itself, right?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

Yes, 40,000 will be delivered in this financial year.<\/p>\n

Balasubramanian<\/strong><\/p>\n

So I think then it will solve the whole industry problem. It’s the right way to understand. Sir,<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

I don’t know about the industry problem. I think as per our contractual obligation we are supposed to supply 40,000 wheels. We are gearing up to supplying 40,000 wheels in this year.<\/p>\n

Balasubramanian<\/strong><\/p>\n

Okay sir. On the diversification side I think we are targeting 10% plus kind of revenue from PV in the next two years. Also are trying to be a primary supplier for EV CV makers and aerospace allies at trials also we can trying to understand like what kind of specific defense or aerospace contracts we are focusing on and what kind of contracts we are focusing to get post aluminium forging commissioning side.<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

So already I think post Commissioning of aluminum 4 years we have already started bus supplies to EV suppliers, equipment manufacturers globally in terms of the needs of aluminum forgings. And we are also developing few more aluminium forgings from that facility to supply to the CV manufacturers globally. And in terms of other allies we are looking at getting into aerospace. We are. We have already set up a capacity to manufacture titanium and other stainless steel products. So we are bidding for several opportunities between domestic market as well as global market for.<\/p>\n

And. But right now we don’t have any contract per se to basically have any realistic numbers to this. But yes, we have already set up a facility. We are already in talks with several OEMs globally and within India to buy higher alloy material basically for aerospace activity. So.<\/p>\n

Balasubramanian<\/strong><\/p>\n

Yes sir. So on the capacity utilization side, the forging utilization, it’s mentioned nearly 70% in Q4 but if you look at last year Q4 it’s 83% and but if you look at cold forging the capacity utilization is almost 40% kind of range. Like if you could share how they are going to ramp up to 80 to 85% kind of range by FY27.<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

I think last year when you compare you have to also take in account the capacity of 8,000 tonnes as another addition in terms of overall forging capacity which we have had. And basically this capacity utilization is going to happen. With firm order book already in place. We are very hopeful that this year we will have a much better utilization the last quarter and in terms of cold forging here at 40% because approvals in cold forging is mainly to the passenger vehicle sector. And this is taking more time in the global market to get approvals in place.<\/p>\n

As and when approval gets in place we are utilization will improve on it. To be putting a timeline to it, I think we are not able to do that. But we are pretty hopeful by this year end we should be having close to 75 to 80% utilization from cold fronting also.<\/p>\n

Balasubramanian<\/strong><\/p>\n

Got it sir. Thank you. Sir, thank you so much for the detailed explanations. All the best.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from the line of Ajit from Old Bridge Mutual fund. Please go ahead.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Hi. Thank you for the opportunity and congratulations on a good set of numbers. Sir. So my first question is on the presentation that you have shared. So it has been showcased that 1550 crores of new orders will be executed in FY27. So does that include castings also? Is it only forging standalone business that it is showing?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

No, it is consolidated forging and casting together.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Okay, so how much of that. So how much castings volume are we expecting this year? Because we will be sitting on significant capacities of 78,000 tons. And earlier also we have indicated that we have an order book for that. So how much are we expecting this year?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

We are looking at almost 85 to 90% utilization costing over the quarters. Incoming quarters in this year.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

80 to 90%. So close to around. I would say 65,000. 65, 70.<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

Close to full utilization I think very safe to say. Okay, close to full utilization.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Okay, so that’s basically. So that’s great to hear. So that’s basically around. If I take that number then that’s Basically our incremental 900 crores of revenue from castings.<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

I will not put a number to it but we are safely looking at almost 85 to 90% utilization in the full year basis.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Yeah, because I got<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

It may not come in the first quarter itself but gradually over next two quarters because approvals and other things are taking some time. So we are looking at first half almost to reach there.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Sure, sure. So I came to that number because of the realizations that has been shared on the presentation. I came to that number on that basis. So what kind of margins can we expect here? Sir?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

Margin for casting<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Yes.<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

So castings is I think relative. I think you will be able to sell better level.<\/p>\n

Lalit Khetan<\/strong><\/p>\n

Margins in the casting will be somewhere around 15 to 16% additive. And in terms of what you are asking in terms of top line growth, see 62,000 tons is the capacity and we have already produced 26 for the last year. But that’s the production in terms of sales. Sales is always lower due to the machining mix and we expect another 400 to 500 crore of revenue for the full year from the casting business on that.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Okay, okay, okay. And so. Okay, that’s pretty clear. And on the, on the cash flows part. So what kind of capex are we looking at this year and what, what is the debt net debt target for FY27? Because I feel most of the investments have been done now and, and with good business going ahead, good business are going ahead. We should be looking at debt reduction if you can help us understand that.<\/p>\n

Lalit Khetan<\/strong><\/p>\n

Certainly we are looking at the quite significant debt reduction in this year on the back of promoter funding and good performance, all this. So we are looking to reduce the debt by at least 400 to 500 more in this year.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Okay, okay, okay. And one bookkeeping question sir. So as as mentioned in the presentation, there is some casting business sitting in the standalone business and some sitting in the and other part sitting in the console part or the subsidiary. So out of the 16,600 tons that we have sold this year, how much of that would be in the standalone? If you can help me,<\/p>\n

Lalit Khetan<\/strong><\/p>\n

Standalone business commenced just on 31st March. Commercial production so nil from the standalone on FY26. Okay,<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Okay, okay, okay, okay. Got it, got it. And this one last question sir. This is on the other business. So we also started one trailer axle business a few years back. If you can help us give us some update like what kind of revenues have we got from the trailer axle business in FY26 and what’s the progression there and what kind of market share and target we are looking for in FY27?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

I think we roughly had around 120 crores business from there in last year. Roughly. I exact, exact figures I don’t have right now. We at the market share I think we are at about 4 or 5% market share. In two years we have been able to make a good amount of inroads and satisfaction amount and this being a first B2C business for us, I think we are pretty satisfied with the performance of getting into around 4 to 5% market share. And I think this Year we are looking at almost doubling this business to 250 crores and to market share of about 10%.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Okay, sir. Okay, thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. A reminder to all participants to ask any question. Please press star one. We have next question from Ayush Voyer from Kavi Capital. Please go ahead, sir.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Yes, thank you for taking my question. So my first question was regarding the presentation. Like in this quarter’s presentation, the orders that are split over the next four years for financial year 27 is 2000, sorry for this is 1550 Karos. And for the like in the last presentation it was 2,200crores. So like there’s a 600crore reduction. So have any of the orders been revoked or something?<\/p>\n

Lalit Khetan<\/strong><\/p>\n

No, no. So I how it works. So it was incremental order. So last presentation what you did for that was incremental order for FY26 which has gone. So residual order has come here in FY27.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Okay. So basically the order was executed early than expected.<\/p>\n

Lalit Khetan<\/strong><\/p>\n

So see what you are looking at. FY28 again it is 2800 code, but 130011004 incremental over FY27. You understand that? So there was earlier. I hope you understand that.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Yeah, got it. Unlike with the new added capacity in the press segment, how do we expect the utilization to improve going forward? Like quarter on quarter, what percentage can we expect?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

No, on a full year basis? I think it is not right for us to say quarter on quarter is very difficult because of the approvals and other things. But it is safe for us and better for us to say that by this year and this financial year and FY27 we are looking at almost 85% utilization in our press plant.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Okay, that’s great. And one last question I had. Like with the rising commodity prices, what effect does it has on a pnl? Pnl like when we book an order so we take an order on the spot price, right?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

No, I think it’s basically for. As earlier also expressed, all our pricing is based on pass ons. So I think with a quarter lag we pass on all the price increases of commodities. Basically mainly for commodity for other steel. Steel is pass on for us every quarter<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

And largely our margins will be<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

No other commodities like consumers like gas and other things are basically which affects our bottom line. So we that is on a yearly basis we are discussing with customers and I think most of our customers agree with the current scenario because of this geopolitical issue. And we are expecting compensation on account of all these geopolitical issues. In terms of price increases to come to us. So<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Thank you so much. That’s all from myself.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from Kiran Nayak from Modik Fincap. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Thank you for giving me an opportunity. Sir, can you give me a rough idea what will be the revenue growth in FY27?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

No, I think we will not be able to give any number to FY27 but with the current order book and with the current capacity in place we are looking at continued growth trajectory and we are looking at a healthy growth in FY27.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. And EBITDA margin for 27<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

It will continue to. I think with what if you have seen quarter on quarter 200 basis points we have improved in terms of our EBITDA margins and I think with the current scenarios in place we are looking for healthy growth in both our top lines and the bottom line of the company.<\/p>\n

Operator<\/strong><\/p>\n

Okay, thank you sir. Thank you. The next question is from Dar J from Crown Capital. Please go ahead.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Hello. Good evening sir. Thank you so much for taking my question sir firstly congratulations on the creature of Resal Sh So just wanted to like confirm like in terms of casting when you’re saying we’ll be at your full utilization. So did I hear correctly? So you could do nearly 900 crores of additional revenue from that? Sir?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

No, no. I, I we have not put any number to it. I Galit has clarified all out of the 7770,000 odd tons of fasting capacity already current utilization we are getting a significant revenue additional casting capacity which has come in the by end of March this is going to create a at the current commodity levels of 400 to 500 crores revenue in the coming years.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Okay. The new March capacity would be around 400. 500. I am sorry but I’m a bit new to the company so when we talk about the wheel fed so mean that we are expecting to do around 40,000. So what are the economics of it? Like is this on the similar margins that you know that our company does on a consolidated level and and also in terms of what is the selling price. So could you help me with that?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

I cannot give you the selling price but I can tell you that the wheels are in a similar trajectory of the forging business we do right now and it is a new capex and this year year we are going we have set up a capacity for two 30,000 wheels this year railway off guarantee is for 40,000 wheels which we are getting ready to supply in this financial year.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Okay. Okay. So is this like On a broad basis of incremental revenue would be how much from the wheel.<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

So I think selling price it is right now very difficult for me to tell earlier because we will because the contractor was awarded two years back. So we need to have a real time pricing done with two years of inflation and other things to capture and get to the new pricing. So I will not be able to give you exact number right now but we should be anything between 400 to 450 crores roughly in terms of revenue from the wheel plant.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Okay. Okay, that’s fair enough. Yeah, yeah. That’s it from Michael. So thank you so much.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from Sunny Gosar from MK Ventures. Please go ahead.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Thank you for taking my question and congratulations on a good set of numbers for the quarter. So my first question is on the overall peak revenue potential. So we’ve almost now expanded to about 4 lakh tonnes of capacity. So assuming a normalized utilization and adjusting for C seasonality in the business, what is the peak volumes or peak revenue? If you can give some color either on one of them over the next two to three years we can achieve with this current capacity that we have already set in place.<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

I think Sunny putting a revenue number, I think it is difficult depend revenue number is absolutely dependent on the commodity pricing. But in terms of utilization we are looking at almost 80% utilization this year in terms of our capacity means close to around go to around 3,50,000 tons of overall forging and casting put together in terms of our utilization. And I think that’s the ballpark we are working with.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Got it, got it. And second question is in terms of the domestic and export mix. So this year our domestic performance has been very strong with strong CV demand and the mix which used to be about 40%, about 40, 42% export and 58 to 60% domestic has seen a swing towards higher share of domestic. So based on the current visibility in terms of the order book or customer discussion that you are having, how do you see this domestic export mix moving over the coming one or two years and how does the domestic export mix impact the overall margins?<\/p>\n

Does higher export mean better margin profile and how is the outlook on that?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

So I think with the current trend in the overall overseas market and with the new order wins in the European market, we are expecting in next two years our export mix to significantly improve. And I think historically which was 60, 40, I think we are looking at going above 40 in terms of our export volumes in the overall scenarios, current scenarios and export is always highly higher. Remunerative than the domestic market. So we are very confident with the current order book and with whatever is playing around in terms of the overall global market and the demand side.<\/p>\n

We are very confident that our margins also will considerably improve going into coming quarters but it may not happen immediately but into going on to next eight quarters roughly two years Our margins should be significantly improved with export volumes better than previous 40%.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Got it. Got it. That’s very helpful. And my last question is around the capacity and the capex. So basically our utilization in the last quarter was around 65 70% and we have already expanded capacity. So how do you see the capex intensity for say FY27 and FY28? Because we spent about 800 crores plus of capex over the last two years. How will that number look like say in the next two years?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

This year we are looking at more of consolidation I think with the contribution in jv I think we are not looking at and maintenance. We are not looking at capex of more than 300 to 400 crores maximum to the tune of 400 crores. That also may be most of may get into only value adds. And our contract contribution to the joint venture and most of our thrust will be in terms of debt reduction. Lalit has already given a ballpark of cost of 400 to 500 crores of debt reduction over this financial year. I think this year by this financial year end we should be anything above 80% to 85% in terms of our existing capacity utilization.<\/p>\n

From wherein in FY28 we are looking for further CAPEX to grow the business into the next level. Basically freezed any capex plan for FY28 right now. So still we are talking to customers and getting their feedback in terms of what next to do in terms of the overall capacity requirements.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Got it. And in terms of our cash outflow whatever contribution had to go for the JV as that been paid for or there is more<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

Equity<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

That is yet to be<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

Some more part is left I think. Can you get the exact number?<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Yeah,<\/p>\n

Lalit Khetan<\/strong><\/p>\n

About 50 crore will further go sunny this year.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Got it, Got it.<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

So taken that 50 crores sunny that the ballpark number is around close to 400 crores of capex is taken into account of that 50 crores.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Got it. This is very helpful and all the best for for the coming quarters and the year ahead. Thank you so much.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from Kumar Saura from Scientific Investing. Please go ahead.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Hello.<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

Am<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

I audible?<\/p>\n

Operator<\/strong><\/p>\n

Yes you are.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Yeah Sir I have One question on the aluminum capacity which is there in terms of realization or margin how is this business?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

Realization is commodity price itself is close to 400 rupees per kilogram. Obviously realization per ton is going to be always higher because of the commodity pricing margins are close to 14 to 15% at the absolute numbers.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Okay, okay. So almost similar to the our current business. So it should not overall<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

In terms of contribution I think is much higher because 14 to 15% you get on the 400 rupees per kilogram or so. So overall I think contribution is much higher than the current ones.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Okay, okay. And sir, I think currently our all total fixed asset is around 4,000 crore and historically I think if we take a blended fixed asset turnover it’s somewhere around 1.5, 1.6 which takes us to almost 6,000 crore revenue. I’m not looking for exact number but ballpark kind of number. So like do you have any plans that when you want to utilize this full capacity given we have done with the major capex and now you know this time to reap all the capex which we have invested.<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

So we are looking at during this year I think by third quarter or fourth quarter to reach close to 80, 80, 85% plus utilization in terms of our overall capacity.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

And sir, historically when we shift from let’s say 70% kind of utilization number to a peak utilization number historically we have had higher margins. So do you see possibility. I know you have said that and this quarter also we have done well on margin and we are expecting it into. But do you see possibility of going back to the previous highest utilization peak margins?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

I will not put a number to it but we are very confident of continuing to improve in terms of margins and I think that is what best we can guide for right now. And we continue to work on margins and I think rest. I think in terms as utilization improves as we start delivering the numbers margins are going to be much better than what is expected.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Great, great. And sir, I think in our business in costing and forging energy is a major cost item and giving whatever is happening globally in terms of you know, the home energy thing. So do you see any major pressure on the on the expense side because of energy or like how do you see it panning out in next week?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

Raw material is completely pass on for us. We don’t with a 1\/4 lag. It’s completely pass on for us. So we don’t get affected by the raw material increase but in terms of other consumers, major consumers in terms of commodities, gas for Us post the raw material to my earlier question also I wanted the current geopolitical issues. We have gone back to the customers in terms of four major clauses. And we are very pretty hopeful that the customer will compensate us to the maximum possible in terms of the gas energy price increase.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Great. Thank you sir. I’ll come back in the queue. Wish you all the best.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from Vinil Shah from Dalalan brochure. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Hello sir. Good evening. Thank you for the opportunity. So my question was with respect of realization for our forging. So even if we take our annualized capacity utilization we are already close to 70 or 74% capacity realization as per our presentation. If we take the annualized instrument capacity. But yet our realizations have been more than the quarter four of FY 2025. So even if we move forward with a higher capacity utilization how do we plan to improve our realization of rupees lakhs per ton?<\/p>\n

Sir,<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

No, I think realization also is affected by the commodity price. I think realization is not absolutely what we realization is directly linked to the commodity price. And if the whole year has been, you must have seen that raw material price has continued to decrease. So with the decreasing trend of raw material pricing decreasing pricing visa vis FY25 that is the effect which we have had in terms of product mix. I think we have had a much better product mix in the second half of the year of this financial year.<\/p>\n

So I think we have done much better than what presumably would have been with the current commodity price if the product mix would not have been what it is right now.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

So because my confusion is because our export realization have increased from 1.77 lakhs to 1.85 lakhs.<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

Both the things I think exports realizations are always much better. And if you see the previous year exports were higher than this current financial year. So as a percentage so export as the export grows the automatically the realization overall realization is going to be much better than what it is currently there.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

All right sir. Thank you. That’s. That’s all from my sir.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from Mrs. From Sagri Cap. Please go ahead. I’m<\/p>\n

Saket Saurabh<\/strong><\/p>\n

Audible.<\/p>\n

Operator<\/strong><\/p>\n

Yes you are sir.<\/p>\n

Saket Saurabh<\/strong><\/p>\n

Yeah. So one first question is pertaining to the non auto order wins. So almost 250 odd crores order has come from energy segment. So can you just explain what exactly what kind of order is this within the energy space?<\/p>\n

Balasubramanian<\/strong><\/p>\n

Can you answer this question please?<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

So basically as you know energy storage has become the latest trend in the market. And we have received a lot of orders from companies which are very doing very good in energy space in the North America market. And they have a very ambitious plan with regard to the energy storage devices. And these devices actually require a lot of folding and casting as a mix in order to go forward there. So we have received a good order book on account of it and that’s what we have reflected in the order books.<\/p>\n

Saket Saurabh<\/strong><\/p>\n

Okay, thanks for the clarification. So sir, last time when we talked about the turnaround within the US business so we talked about largely the new customers or the new wins which were helping us come back slowly on growth and that also shows up in the numbers almost. QQ there has been a growth now going for FY27RR with the tariff behind us now and as also talked about coming revival of demand as far as classic trucks is concerned. So do you think FY27 could be a normalized year from a US export or a North America exports standpoint?<\/p>\n

Or it could be a even a growth year given that you know Mexico is I think likely to go live in a couple of weeks. I<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

Think it will be a growth year visa vis previous year in terms of our own North America performance is concerned.<\/p>\n

Saket Saurabh<\/strong><\/p>\n

That’s great to hear sir. Now another question that I have is pertaining to, I think mainly for CFO sir there is a given in the INA notes of the results. There has been some loss provisions that we have made visa visa tariffs that some of our customers have had to bear. So can you explain something but ecl what exactly is this?<\/p>\n

Lalit Khetan<\/strong><\/p>\n

So we have made a provisioning of ECL for 42 poll in this quarter as basically this is in light of income of electricity duty which we bought order in the last quarter and the income has been recognized as exceptional income. So but we did not wanted to carry it into lower profit. And so on a prudent basis considering the current economic scenario and whatever the volatility we have in the global environment. We just provided as ECL on our receivers for this 42 core amount. This amount is totally receivable but it still we got this headroom to provide for this.<\/p>\n

This may will help us in future.<\/p>\n

Saket Saurabh<\/strong><\/p>\n

Okay, thanks for the explanation. Now coming back to the the shipping time. So how the shipping time is it now back to normal especially for the our US side or is it still on the higher side? And how’s the cost for shipping cost right now?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

Shipping cost has gone up by about 15 to 20% and their days have increased by almost 15 to 20 days.<\/p>\n

Saket Saurabh<\/strong><\/p>\n

Okay, so because last time when this happened, a lot of our floating inventory ended up becoming on our book. So right now, how is that floating inventory right now? Is it in line or do you think that should be fine going forward?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

It is in line.<\/p>\n

Saket Saurabh<\/strong><\/p>\n

Okay. Do we have any West Asia exposure in terms of clientele or even new<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

Revenue and no exposure.<\/p>\n

Saket Saurabh<\/strong><\/p>\n

Okay, sir, and thanks. The last question is, you know, you have elaborated a bit on the titanium and that those kind of alloys where RK forging is foraying into. And it’s good to know because again, aerospace is gaining a lot of traction. So. But these are also long distance period because approval times are quite longer. So when do we think that, you know, this would end up, say adding something substantial to our top line or at least in the order book will start reflecting, saying the order book.<\/p>\n

So any sense or color on that?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

I think in terms of order book, I think by this financial year end it will start reflecting in our order book and but in terms of our revenue, in terms, I think it will take Additionally I think 12 to 24 months because these are long lead items to make also and get approvals. So we are, we are not looking anything in terms of our revenue before FY29.<\/p>\n

Saket Saurabh<\/strong><\/p>\n

Okay, sir, now specifically to the EV segment because it is now kind of making some sort of a comeback across Europe as well as even US had a reasonable quarter. So now how are those EV focused order or revenue looking up? So are we looking at say, much better contribution from them going forward?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

I think EV is performing extremely well for us both in the domestic market and overseas market. And I think as our diversification strategy and as well as our dependence on ICE to decrease the same, we are already working very aggressively to improve our passenger vehicle portfolio which is mainly constituting of EV segments only. So I think we have already guided for a 10% revenue in two years time to come from basically passenger vehicle segment.<\/p>\n

Saket Saurabh<\/strong><\/p>\n

Okay, so 10% PV is synonymous with 10% EV at an overall level. Is that, is it a fair understanding?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

Fair understanding.<\/p>\n

Saket Saurabh<\/strong><\/p>\n

Okay sir, thanks for responding and best of luck for the coming quarters.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from Kiran K from Nightstone Capital Management llp. Please go ahead.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

How much revenue did we generate from under carriage for the full year?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

Can you repeat the question please?<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

How much revenue did you generate for the railway assembled under carriage for the full year?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

We will not be able to give you exact component by component revenue achievement, but we have done, we have achieved a significant portion railway business as an overall 7.5% is overall in terms of our Railway business which is performing and we are looking at double digit almost to achieve the number by this year from railways.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Okay, thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from Kiran Naik from Modi Fincap. Please go ahead sir. Thank you for giving me an opportunity again sir, can you tell me from where you are buying aluminum which is your raw<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Material for<\/p>\n

Operator<\/strong><\/p>\n

Folging?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

We are buying from Hindalco.<\/p>\n

Operator<\/strong><\/p>\n

Only one supplier you have or<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

You import also. We basically are customer directed by.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Okay,<\/p>\n

Operator<\/strong><\/p>\n

Thank you sir. Thank you. Thank you. The next question is from Kunal Bhatia from Dalala brochure stocks Broken limited Please go ahead.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Thanks for the opportunity. And oh clarification question. So you mentioned that this, this time around you will be having almost an 80% utilization on your capacity of 3 lakh 50 thousand watt tons. So. But half. What is your say, your target which you are expecting in terms of the overall sales volume? Because sales<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

Volume I think every quarter on quarter you will see significant improvement. But I think in terms of percentage is very difficult to say. But I. We are very confident whatever we will make, we’ll be able to sell that.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Okay, so because even in. In the last conference call if I’m not wrong we had mentioned an upper limit of 10 to 15% kind of growth for FY27 and FY28 in terms of a CAGR. Yeah. With<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

The current order book we are very confident of surpassing. We are not trying to put any number to it right now but I think with the current geopolitical issue going on it is a risk also. But with the current order book we are very confident of growing. But with the capacities in place we are looking at achieving those tonnages in terms of our production plans and we are very confident to sell those.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Okay. Okay. So it’s fair to assume that we’ll be growing higher upwards of the 15% number.<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

I will not put a number to it but I think we are looking at a decent and very good growth in FY27<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

And 80% kind of utilization levels. What is the kind of leverage in terms of margins that kicks in assuming every other thing remains status quo?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

I think the current margin which we have been able to achieve in the fourth quarter, I think now it’s here to stay and we are going to do better margins than what we have achieved right now in this quarter. So I think as the capacity inflation, economic economics of growth, continued scale and everything remains as where it is and we are able to pass on the energy price increases which have happened, we should be at least 100250 basis points better than what we have done right now. But it all depends on whether we are able to pass on the energy price increases.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

But you would have some fair bit of an idea from your current month exports say in April, May, have you been able to get those better or a higher realization? We<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

Have not yet been able to pass on the energy price increases. We have already on discussions and I think discussions are in advance. So beyond that I think it’s very difficult for us to say anything that whether by when we will be able to get whatever we will get we will be able to get from the 1st of April onwards. But exactly how much and by when it is very difficult for them because it is industry wide which is. It is going to happen. It’s not going to be happening for us as an isolated case.<\/p>\n

But whatever the customer approach OEM approach takes, it is. It is to be happening in the industry wide space. So I think we will wait for some time before we can comment on it.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Okay. Okay. Answer my final question. I am not asking you for a particular number but in terms of volume on the export business side, looking at the current situation, how has been say the month of April which has already gone by, was it better than March or. Things are not.<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

I think I will not be able to give you a reflect on the anything on the current numbers. But I can only say this year FY27 export volumes are going to come back and it’s extremely strong. So. So we are very confident of doing much better exports than our previous. In terms of overall mix of percentage to sales. We are going to do much better than what we have done in previous years and quarters.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Okay, sounds good. Thank you sir. Thank you so much.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from Mr. Kushal from Ishan Brokin. Please go ahead.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Hello.<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

Hello.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Hello. Are there any plans to increase ring rolling capacities?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

No, I think there is no plans right now in this year, this financial year to increase the ring rolling capacity.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Okay. Thank you sir.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. The next question is from Mr. Aditya from Old Bridge Mutual fund. Please go ahead.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Sir, just one clarification. The orders that you have one of 323 crores on the domestic CV part. On the. On the CV part how much of that would be domestic and how much of that would be export?<\/p>\n

Saket Saurabh<\/strong><\/p>\n

You repeat the question please. It’s not very clear.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Yeah, I was asking the 320 order that we have won on the CV side. What would be the split between domestic and exports<\/p>\n

Saket Saurabh<\/strong><\/p>\n

Against the 323crore. The CV would be more than 50% in<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

The series. More than 50% of the IT is export and around 50% is from the domain.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, thank you. That’s it.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We have the next question from Mr. Kushr from Mission Broken. Please go ahead. Mr. Kushir.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Hello.<\/p>\n

Operator<\/strong><\/p>\n

Yes sir. You are audible. Please go ahead.<\/p>\n

Anamalai Jayaraj<\/strong><\/p>\n

Just again regarding regrouping and I’m seeing here it’s at 121% utilization. So it’s. Does it affect in any way negatively crossing the capacity?<\/p>\n

Milesh Gandhi<\/strong><\/p>\n

No, it. Basically it is 121%. If you see the history also I think Rolling has been operating at more than 100% as always. And it does not affect in terms of the life of the equipment or in any way.<\/p>\n

Lalit Khetan<\/strong><\/p>\n

Thank you sir.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. As there are no further questions in the queue I now hand the conference over to management for closing comments. Over to you, sir.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Thank you. We would like to thank all for taking out the time and joining our earnings call. We hope we have answered all your queries. And for your satisfaction we would like to further inform that. Get in touch with us or in CDR if you have further information required. We look forward to interacting again next quarter. Thank you again very much for talking to us. Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you on behalf of 361 Capital Market Private Limited. That concludes this conference. Thank you for joining us. And you may now disconnect your lines. Thank you.<\/p>\n","protected":false},"excerpt":{"rendered":"

Note: This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon. RAMKRISHNA FORGINGS LTD (NSE: RKFORGE) Q4 2026 Earnings Call dated May. 04, 2026 Corporate Participants: Lalit Khetan \u2014 Whole-Time Director and Chief Financial Officer Unidentified Speaker Milesh Gandhi \u2014 Whole-Time Director Analysts: Anamalai Jayaraj \u2014 […]<\/p>\n","protected":false},"author":2377,"featured_media":147581,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6349],"tags":[10169,9175,9104,9092,14492,10089,14818],"class_list":["post-182266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transcripts","tag-earnings","tag-earnings-call","tag-earnings-conference","tag-earnings-transcripts","tag-financial-results","tag-quarterly-earnings","tag-rkforge"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":177841,"url":"https:\/\/alphastreet.com\/india\/ramkrishna-forgings-ltd-stock-dips-amid-mixed-quarterly-results\/","url_meta":{"origin":182266,"position":0},"title":"Ramkrishna Forgings Ltd Stock Dips Amid Mixed Quarterly Results","author":"Staff Correspondent","date":"January 27, 2026","format":false,"excerpt":"Ramkrishna Forgings Limited (NSE: RKFORGE) shares traded at \u20b9496, down 2.51% intraday on January 27, 2026. Equity analysts note revenue growth but highlight profit declines and high valuations as key concerns. The company maintains operations across 22 manufacturing plants and exports to 23 countries to support its global metal forming\u2026","rel":"","context":"In "Analysis"","block_context":{"text":"Analysis","link":"https:\/\/alphastreet.com\/india\/category\/stock-analysis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":177846,"url":"https:\/\/alphastreet.com\/india\/ramkrishna-forgings-ltd-reports-5-5-revenue-increase-in-q3-fy25-amid-export-growth\/","url_meta":{"origin":182266,"position":1},"title":"Ramkrishna Forgings Ltd Reports 5.5% Revenue Increase in Q3 FY25 Amid Export Growth","author":"Staff Correspondent","date":"January 27, 2026","format":false,"excerpt":"Ramkrishna Forgings Ltd (NSE: RKFORGE) announced unaudited standalone financial results for Q3 and 9M FY25 ended December 31, 2024. Revenues rose 5.5% YoY in Q3 to \u20b9953 crore, with PAT up 21.0% YoY to \u20b9100 crore. Lead Summary Standalone Q3 FY25 revenue increased 5.5% YoY to \u20b9953 crore from \u20b9903\u2026","rel":"","context":"In "Analysis"","block_context":{"text":"Analysis","link":"https:\/\/alphastreet.com\/india\/category\/stock-analysis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/11\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":144491,"url":"https:\/\/alphastreet.com\/india\/ramkrishna-forgings-ltd-q4fy23-results-out-revenue-soars-by-24\/","url_meta":{"origin":182266,"position":2},"title":"Ramkrishna Forgings Ltd Q4FY23 results out, Revenue soars by 24%","author":"Chirag Gupta","date":"April 28, 2023","format":false,"excerpt":"Ramkrishna Forgings Ltd is primarily engaged in manufacturing and sale of forged components of automobiles, railway wagons & coaches and engineering parts.\u00a0 Ramkrishna Forgings Ltd reported Total revenue for Q4 FY23 of \u20b9892 Crore, up from \u20b9719 Crore year on year depicting a growth of 24%.Total Expenses for Q4 FY23\u2026","rel":"","context":"In "Earnings"","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"earnings preview","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":168996,"url":"https:\/\/alphastreet.com\/india\/ramkrishna-forgings-ltd-q4fy25-203-rise-in-profits\/","url_meta":{"origin":182266,"position":3},"title":"Ramkrishna Forgings Ltd Q4FY25; 203% rise in Profits","author":"Chirag Gupta","date":"July 2, 2025","format":false,"excerpt":"Ramkrishna Forgings Ltd is primarily engaged in manufacturing and sale of forged components of automobiles, railway wagons & coaches and engineering parts. It is the 2nd largest forging player in India. 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