Ramkrishna Forgings (RKFORGE) Q4 25/26 earnings summary

Executive summary

• Q4 FY26 consolidated revenue reached ₹1,217 crore, up 28% year-over-year and 11% sequentially, with Profit Before Tax at ₹64 crore, more than doubling from the previous quarter.

• Domestic demand remained robust, supporting high capacity utilization, while export markets showed recovery despite earlier disruptions.

• Diversification into railways, oil & gas, off-highway, and mining segments contributed to earnings resilience.

• Audited standalone and consolidated financial results for the quarter and year ended March 31, 2026 were approved, with unmodified opinions from joint statutory auditors.

• Consolidation of entities into RKCSL completed, unlocking further operating efficiencies.

Financial highlights

• Q4 FY26 consolidated revenue was ₹1,21,678 lakh, up 28% YoY and 11% QoQ; EBITDA was ₹20,819 lakh, up 111% YoY and 27% QoQ, with margins improving to 17.1%.

• FY26 consolidated revenue was ₹4,23,808 lakh, up 5% YoY; EBITDA was ₹64,270 lakh, up 15% YoY; PAT was ₹41,502.52 lakh, reflecting gains from discontinued operations.

• Standalone revenue from operations for FY 2025-26 was ₹3,75,492.46 lakh, up from ₹3,63,429.92 lakh YoY; standalone net profit was ₹20,785.48 lakh.

• Q4 FY26 PBT margin improved to 5.3% from 2.7% in Q3 FY26.

• Basic EPS (consolidated, continuing and discontinued) for FY 2025-26 was ₹22.95, up from ₹18.33 in FY 2024-25.

Outlook and guidance

• FY27 expected to be strong, supported by a healthy order book, improving demand, and continued diversification.

• Management expects export volumes and margins to improve as capacity utilization rises; margin expansion anticipated through product mix improvement and scale efficiencies.

• Rail Wheel JV commercial production is set for Q1 FY27, targeting supply of 40,000 wheels in the year.

• CapEx for FY27 is planned at ₹300-400 crore, mainly for value-adds and JV contributions, with a focus on debt reduction.

• Interim dividend recommended; managerial remuneration proposed in excess of statutory limits, subject to shareholder approval.