Ramkrishna Forgings Ltd · NSE:RKFORGE
Ramkrishna Forgings — Q4 FY26 Earnings Presentation
34 slides from Ramkrishna Forgings's earnings presentation, May 2026
Slide 1: Innovation Engineered For Excellence
Innovation Engineered For Excellence Investor Presentation Q4 & FY26
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Ramkrishna Forgings Limited (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any s
Slide 3: Contents
Contents 2 4 About Ramkrishna Our Commitment 1 Forgings 3 Q4 & FY26 Update on Financial Subsidiary Overview and Joint Venture 3 Investor Presentation – May 2026
Slide 4: Q4 & FY26 Financial Overview
il Q4 & FY26 Financial Overview
Slide 5: MD's Insights and Reflections
MD’s Insights and Reflections We are pleased to report a strong performance in Q4 FY26, reflecting sustained momentum across key end-user industries and a steady scale-up in newer business lines. We have reported consolidated revenues of ₹1,217 crore in Q4, higher by 11% on a QoQ basis and by 28% on
Slide 6: Key Performance Indicators (Standalone)
Key Performance Indicators (Standalone) Revenue* EBITDA* & EBITDA Margin (%) PBT & PBT Margin (%)# Y-O-Y 33% Y-O-Y 107% Q-O-Q 15% Q-O-Q 33% Q-O-Q 151% 1,07,785 6,901 18,509 93,960 80,962 13,868 2,752 8,936 -1,766 Q4 FY25 Q3 FY26 Q4 FY26 Q4 FY25 Q3 FY26 Q4 FY26 Q4 FY25 Q3 FY26 Q4 FY26 11.0% 14.8% 17.
Slide 7: Key Performance Indicators (Consolidated)
Key Performance Indicators (Consolidated) Revenue* EBITDA* & EBITDA Margin (%) PBT & PBT Margin (%)# Y-O-Y 28% Y-O-Y 111% Q-O-Q 11% Q-O-Q 27% Q-O-Q 117% 1,21,678 20,819 6,433 1,09,852 94,721 16,337 2,969 9,850 -2,338 Q4 FY25 Q3 FY26 Q4 FY26 Q4 FY25 Q3 FY26 Q4 FY26 Q4 FY25 Q3 FY26 Q4 FY26 10.4% 14.9%
Slide 8: Volumes and Realisation
Volumes and Realisation Forgings* Volume (tons) Realisation (₹ Lac/ton) Volume (tons) Realisation (₹ Lac/ton) Y-O-Y 36% Y-o-Y 11% 51,747 1,82,746 46,437 12,942 1,65,251 38,127 11,612 2.46 2.30 2.40 50,557 2.52 2.32 12,565 58,900 34,825 38,805 25,562 1,32,189 1.77 1.80 1.85 1,06,351 1.86 1.82 Q4 FY25
Slide 9: Revenue Breakup
Revenue Breakup Total Revenue Breakup (₹ Lakhs.) Particulars Q4 FY26 Q4 FY25 YoY Q3 FY26 QoQ FY26 FY25 YoY Domestic Markets 75,208 49,346 52% 66,209 14% 2,54,153 2,12,053 20% Export Markets 31,872 30,936 3% 27,112 18% 1,18,655 1,48,209 20% Other Income & Export Incentive 1,045 1,685 38% 940 11% 4,58
Slide 10: Capacity Utilization
Capacity Utilization Production (MT) Q4 FY26 Q3 FY26 Q4 FY25 Particulars Installed Capacity Utilization Utilization Utilization FY26 Production (MT) Production (MT) Production (MT) (%)* (%)* (%)* Ring Rolling 24,000 26,372 7,268 121% 6,013 100% 7,349 122% Forgings 70,350 43,626 12,241 70% 11,626 66%
Slide 11: Diversified Product Portfolio
Diversified Product Portfolio Revenue Break-up FY22 FY23 FY24 FY25 FY26 Domestic Auto 39.2% 41.9% 39.7% 40.8% 47.0% Railways 1.7% 2.7% 3.6% 4.6% 7.5% Mining, Earth Moving & Farm Equipment 4.1% 4.5% 4.5% 4.8% 5.9% Miscellaneous (Industrial Components, Steel, Cement & Power) 9.8% 9.4% 9.7% 9.0% 8.0% T
Slide 12: Export Break Up by Geography
Export Break Up by Geography Particulars (₹ in crores) Q4 FY26 Q3 FY26 Q4 FY25 FY26 FY26 (%) FY25 FY25 (%) North America 208.73 150.57 219.81 688.12 58.0% 1,056.42 71.3% Europe 107.42 119.52 86.56 489.83 41.3% 413.51 27.9% Asia & others 2.57 1.03 3.00 8.61 0.7% 12.16 0.8% Total 318.72 271.12 309.36
Slide 13: Cashflow Snapshot
Cashflow Snapshot Particulars (₹ in Crore) FY26 EBITDA including Other Income 645 Less Interest paid (210) Change in Working Capital Decrease in trade receivables 211 Decrease in inventories 9 Increase in Other assets (57) Increase in Other Liabilities 15 Net cash released from Working Capital 178 N
Slide 14: Order Wins in Q4 & FY26
Order Wins in Q4 & FY26 Railways - Casting, 200 Railways, 119 Non Auto , 260 Non Auto, 632 FY26 Q4- FY26 ₹ 3,074 Cr ₹ 594 Cr Auto, 334 Auto , 2,123 Auto Non Auto Auto Non Auto Railways Railways - Casting During Q4, the Company secured new orders worth ₹594 crore, with a program life of 4 years. Appr
Slide 15: New Order Wins in Standalone Business
New Order Wins in Standalone Business (in ₹ Crores) Last 3 years New orders New orders split over next 4 years 3,897 2,854 2,636 2,595 3,074 2,664 New Ramp up Orders for new 9,635 Orders 1,550 FY24 FY25 FY26 FY27 FY28 FY29 FY30 Note:- Projected sales is from new orders only 15 Investor Presentation
Slide 16: Well Positioned to Capture Future Growth
Well Positioned to Capture Future Growth Over the last four years, the Company has invested ₹3,676 crore across forging, casting, machining and new growth platforms. With major capacities now commissioned / nearing completion, the Company enters the next phase focused on utilisation ramp-up, operati
Slide 17: Poised for Stronger Cash Generation and Improved Return Ratios
Poised for Stronger Cash Generation and Improved Return Ratios Revenue Margin ROCE Stronger Free Growth Expansion Improvement Cash Flow Driven by 333,400 MT Driven by RKCSL Improving asset With a phased deleveraging forging capacity, 62,400 MT synergies, ACIL tax turns as heavy capex of balance shee
Slide 18: Track Record of Growth
Track Record of Growth Revenue Export Revenue CAGR: +18.4% CAGR: +31.0% 4,23,808 1,48,788 4,03,411 1,21,225 1,21,647 43,882 75,206 35,124 28,496 1,604 FY10 FY15 FY20 FY25 FY26 FY10 FY15 FY20 FY25 FY26 EBITDA PAT CAGR: +18.3% CAGR: +12.5% 64,270 41,503 55,956 ** 18,737 20,729 8,347* 13,010 7,541 7,18
Slide 19: Income Statement
Income Statement Particulars (₹ in lakhs) FY22 FY23 FY24 FY25 FY26 Revenue from Operations 2,32,025 3,19,290 3,70,454 4,03,411 4,23,808 Cost of Goods Sold 1,16,073 1,61,053 1,86,156 1,99,955 2,16,205 Gross Profit 115,952 158,237 184,298 203,456 2,07,603 Gross Profit Margin 50.0% 49.6% 49.7% 50.4% 49
Slide 20: Balance Sheet
Balance Sheet Particulars (₹ in lakhs) FY22 FY23 FY24 FY25 FY26 Net block (Tangible assets) 1,56,577 1,74,772 2,33,411 3,15,712 3,77,636 Intangible assets 628 608 12,720 12,271 11,935 Investments - - 6,306 17,928 23,719 Right-of-use assets 3,063 2,963 18,313 21,011 20,250 Other non-current assets 7,
Slide 21: Cash Flow Statement
Cash Flow Statement Particulars (₹ in lakhs) FY22 FY23 FY24 FY25 FY26 Cash Flow from Operating Activities Profit before share of profit / (loss) of joint venture and tax from continuing operations 25,320 37,444 39,823 14,879 8,401 Profit before tax from discontinued operations - - 1,130 9,918 - Adju
Slide 22: About Ramkrishna Forgings
About Ramkrishna Forgings
Slide 23: One Stop Solution Provider
One Stop Solution Provider Warm forging Gear Grinding Fabrication Casting Hot Forging Cold Forging Machining Aluminium Forging Hammer & Upsetter Providing solutions to Facilities Ring Rolling Industrial Commercial Mining, Earth Passenger Railways Components, Electric Vehicles Oil & Gas Vehicles Movi
Slide 24: Our Global Presence
Our Global Presence Revenue By Geography Europe 13.0% North America 18.3% FY26 India Others 68.4% 0.2% % Share – FY26 Headquarters & Manufacturing facilities Sales & support services: Warehousing facility: Exports 31.6% Headquarters – Kolkata • Detroit, USA • Shelbyville, USA • Toluca, Mexico 19 man
Slide 25: Update on Subsidiary and Joint Venture
Update on Subsidiary and Joint Venture
Slide 26: Update on Rail Wheel Project
Update on Rail Wheel Project Ramkrishna Forgings & Titagarh Rail Systems Consortium has received an LOA for the manufacturing and supply of forged wheels to Indian Railways. Ramkrishna Forgings holds a 51% stake in the JV and is the lead partner for the project. The JV is setting up Asia’s 2nd large
Slide 27: Update on Mexico Facility
Update on Mexico Facility Ramkrishna Forgings Limited has acquired a company in Mexico, now operating as Ramkrishna Forgings Mexico S.A. de C.V. The company has leased a manufacturing facility in Monterrey, Mexico, where machining operations and warehousing activities have already commenced. Initial
Slide 28: Our Commitment
il Our Commitment
Slide 29: Our ESG Vision - Delivering shared value to the planet and people
Our ESG Vision - Delivering shared value to the planet and people RKFL’s 5 Pillars of Sustainability VALUABLE REWARDING WORKPLACE PARTNERSHIPS EMPOWERED COMMUNITIES ENVIRONMENTAL CONSCIOUSNESS ROBUST GOVERNANCE We are aligned with 9 United Nations Sustainability Development Goals 29 Investor Present
Slide 30: Key Sustainability Highlights
Key Sustainability Highlights Where Growth Meets Green: Progress Update for FY20261 40% Increase in Permanent Recycled Wastewater 4% 99.2% employees trained on Human Rights Increase in Renewable Energy Permanent 99.2% Consumption employees trained Increase in Energy on ESG 113% Increase in rainwater
Slide 31: Key Sustainability Highlights
Key Sustainability Highlights Where Growth Meets Green: Progress Update for Q4 FY20261 34% Increase in Recycled Wastewater 11% Increase in Renewable Energy Consumption Decrease in Energy 100% Increase in rainwater harvesting 8.3% Intensity 48% Permanent employees 99.2% trained on Human Decrease in w
Slide 32: Our Goals and Initiatives
Our Goals and Initiatives Committed to preserving and protecting the environment and supporting the local community Our Goals and Target Year Progress Key Initiatives 2% increase in Power Quality & Energy Efficiency Enhancements: Achieve Net Zero 2040 emissions intensity HT-side RTPFC system commiss
Slide 33: Conference Call Details
Conference Call Details Q4 & FY26 EARNINGS CALL Time Pre-registration HOSTED BY: 4 PM IST on To enable participants to connect to the Monday, 4th May 2026 conference call without having to wait for an operator, please register at the below mentioned link: 33 Investor Presentation – May 2026
Slide 34: Thank You
Thank You Mr. Lalit Kumar Khetan (Whole Time Director & CFO) Ramkrishna Forgings Limited Email: lalit.khetan@ramkrishnaforgings.com Mayank Vaswani / Mit Shah CDR India Tel: +91 98209 40953 / +91 99201 68314 Email: mayank@cdr-india.com / mit@cdr-india.com