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Ramkrishna Forgings
SectorAutomobiles
Ramkrishna Forgings Limited is an Indian forging company incorporated in 1981. It manufactures and sells forged components for automobiles, railway wagons, coaches, and engineering parts. The company operates manufacturing facilities in Jharkhand and West Bengal. Its products include forgings for various industries, such as automotive, railways, mining, and general engineering. Ramkrishna Forgings has expanded its production capacity over the years, adding new equipment and technologies. The company serves major original equipment manufacturers and operates in two segments: Forging components and Others. It supplies critical safety items for railway passenger coaches and locomotives. In 2023, RKFL Engineering Industry Private Limited became a wholly owned subsidiary of the company.
In the news
Ramkrishna Forgings shares surge 34% in 2026; Monarch sees ₹806 target
5 Stocks to Buy Today: Ather Energy, RK Forgings Lead Picks
Ramkrishna Forgings targets 35% export share recovery
Ramkrishna Forgings Q1 profit surges 298% to ₹47 crore
Ramkrishna Forgings Q3: Revenue up 2%, margins expand
The Quarter story
The two most recent quarterly results, compared side-by-side.
Production and margins are strengthening, but new order wins are slowing down.
Production volumes grow from 46,473 MT in Q1 FY26 to 66,894 MT in Q1 FY27, showing steady output scaling.
Order wins drop from 1,116 INR in Q2 FY26 to 293 INR in Q1 FY27, warning of a weaker pipeline.
EBITDA margin improves from 14.4% in Q1 FY26 to 17.96% in Q1 FY27, confirming stronger pricing power.
Press utilization falls back to 60% in Q1 FY27 from 74% in Q3 FY26, signaling demand volatility.
Ring rolling utilization recovers to 127% in Q1 FY27 from 88% in Q2 FY26, indicating sustained high demand.
Forgings utilization eases to 64% in Q1 FY27 from 70% in Q4 FY26, reflecting seasonal normalization.
Press production rises from 28,231 MT in Q1 FY26 to 35,689 MT in Q1 FY27, reflecting consistent capacity leverage.
Company insights, generated from the most recent coverage.
Export recovery is real: North America revenues had fallen 40%+ over 9M FY26, but Q1 FY27 healthy export volumes validate management's claim that the worst is behind.
Despite the three-month rally, the stock was down 4.71% over the past month, showing the market only recently rotated back after digesting the FY26 exceptional-item hit and North America weakness.
Management's 10-15% CAGR guidance for FY27-FY29 rests on new verticals — aerospace, semiconductor non-ferrous forgings, aluminium forging, castings and Mexico machining units — so execution on these is the swing factor for the re-rating.