Ramkrishna Forgings
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Ramkrishna Forgings (RKFORGE) investor relations material

Ramkrishna Forgings Q3 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 25/26 earnings summary27 Jan, 2026

Executive summary

  • Q3 FY26 saw improved performance with consolidated revenue of ₹1,099 crore, up 21% QoQ, and PBT of ₹30 crore versus a loss of ₹5 crore in the previous quarter.

  • Mixed results amid global volatility, with opportunities from supply chain diversification and strong domestic growth drivers.

  • Strong domestic business and resilient global operations drove results, with new orders worth ₹680 crore secured in Q3 across Auto and Non-Auto segments.

  • Unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, were approved, with statutory auditors expressing an unmodified conclusion.

  • Strategic focus on domestic capability, product diversification, and capacity expansion is yielding stability and growth.

Financial highlights

  • Consolidated Q3 FY26 revenue was ₹1,099 crore, up 21% QoQ and 12% YoY; EBITDA increased 33% QoQ and 29% YoY to ₹163 crore; EBITDA margin at 14.9%.

  • Profit after tax was ₹13.6 crore after exceptional provisioning; adjusted PAT would have been ₹24 crore versus ₹21 crore YoY.

  • Standalone revenue from operations for the quarter was ₹93,959.50 lakhs; consolidated net profit was ₹1,356.89 lakhs.

  • Gross margin contracted to 45% due to product mix and higher rejections, but power and fuel costs improved from efficiency gains and renewable energy.

  • Exceptional items included a one-time provision of ₹1,043.39 lakhs (consolidated) due to the New Labour Codes.

Outlook and guidance

  • Management expects 10%-15% annual top-line growth for the next three years, driven by a strong order book and capacity ramp-up.

  • Production ramp-up at the casting facility and commissioning of aluminum forging and Mexico machining facilities are expected to drive Q4 and FY27 growth.

  • Double-digit sales growth anticipated from the railway segment within two years, with commercial production of railway wheels starting Q2 FY27.

  • Exports expected to recover, targeting 35% of revenue in FY27, with new customer additions in North America and Europe.

  • Guidance for double-digit full-year growth in FY26 reaffirmed.

WIP inventory restatement: future implications
New Labour Codes: ongoing financial impact
M&A changes: how to assess performance?
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Q4 25/2629 May, 2026
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Q4 25/2629 May, 2026

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Frequently asked questions

Ramkrishna Forgings Limited is an Indian company specializing in the production of forged components primarily for the automotive industry. The company manufactures a range of closed die forgings made from carbon and alloy steel, micro-alloy steel, and stainless steel. These forgings are often delivered in various finished states, such as heat-treated, machined, and fully assembled, depending on customer specifications. The company is headquartered in Kolkata, West Bengal, and its shares are listed on the NSE.

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