Ramkrishna Forgings Ltd.
•₹ 737.05-1.12%
2026-08-21
PROS
- Company has delivered good profit growth of 28.3% CAGR over last 5 years
- Latest quarter profit grew 297.8% YoY, showing strong momentum
- Company has consistently been profitable over the last 5 years
- Company has delivered good sales growth of 26.9% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.01x)
CONS
- Recent results are weak - TTM profit is down 94.9% versus prior year
- Company has a low return on capital employed of 10.6%
- Interest coverage is weak at 1.4x - earnings barely cover interest
- Free cash flow has been persistently negative
- Valuation is stretched - P/E of 127.5 is well above its own 5-year median (36.6)
- Operating margins have contracted to 15.2% from 21.9%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | BHARATFORG | 2065.00 | 139.79 | 98725.30 | 0.41 | -89.89 | -131.67 | 4639.94 | 18.71 | 12.46 | 15.05 |
| 2. | HAPPYFORGE | 2305.95 | 66.47 | 21763.26 | 0.17 | 91.46 | 39.24 | 449.42 | 27.03 | 18.19 | 31.34 |
| 3. | RKFORGE | 748.15 | 127.50 | 13629.05 | 0.13 | 46.88 | 297.76 | 1216.67 | 19.84 | 5.56 | 17.91 |
| 4. | BALUFORGE | 537.50 | 24.35 | 6524.81 | 0.00 | 66.09 | 15.89 | 300.72 | 28.95 | 31.33 | 28.19 |
| 5. | MMFL | 655.90 | 18.70 | 3166.79 | 0.61 | 90.42 | 371.26 | 420.48 | 18.71 | 9.00 | 17.82 |
| 6. | KALYANIFRG | 678.75 | 0.00 | 246.93 | 0.59 | 4.48 | 217.73 | 66.80 | 4.16 | 12.26 | 15.89 |
| 7. | GANGAFORGE | 2.26 | 0.00 | 76.16 | 0.00 | 10.58 | 3748.28 | 71.85 | 827.58 | 4.06 | 9.34 |
Detailed Comparison with:
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 892 | 899 | 996 | 974 | 959 | 1,054 | 1,074 | 947 | 1,015 | 908 | 1,099 | 1,217 | 1,217 | |
| 700 | 698 | 776 | 786 | 790 | 888 | 947 | 849 | 867 | 785 | 935 | 1,009 | 1,155 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 5 | 4 | 1 | 18 | 9 | 3 | 4 | 11 | 4 | 6 | 2 | 2 | 3 |
| Interest | 36 | 38 | 39 | 34 | 36 | 39 | 42 | 49 | 49 | 53 | 51 | 57 | 57 |
| Depreciation | 57 | 61 | 68 | 72 | 62 | 60 | 64 | 85 | 80 | 80 | 84 | 88 | 99 |
| 104 | 106 | 114 | 100 | 79 | 69 | 24 | -23 | 24 | -5 | 19 | 64 | 65 | |
| Tax % | 24.22% | 25.01% | 25.98% | 34.26% | 32.56% | 15.81% | 12.32% | 955.86% | 23.06% | 14.18% | 23.57% | 4.56% | 27.58% |
| Net Profit | 0 | 0 | 0 | 0 | 809 | 1,898 | 996 | 200 | 12 | -95 | 14 | 56 | 47 |
| 5 | 5 | 5 | 4 | 3 | 3 | 1 | 11 | 1 | -1 | 1 | 3 | 0 | |
| Equity Capital | 32 | 32 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 32 | 32 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 | 36 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Jun 2023
- 892
- 700
- Operating Profit
- —
- OPM %
- —
- Other Income
- 5
- Interest
- 36
- Depreciation
- 57
- 104
- Tax %
- 24.22%
- Net Profit
- 0
- 5
- Equity Capital
- 32
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 32
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 899
- 698
- Operating Profit
- —
- OPM %
- —
- Other Income
- 4
- Interest
- 38
- Depreciation
- 61
- 106
- Tax %
- 25.01%
- Net Profit
- 0
- 5
- Equity Capital
- 32
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 32
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 996
- 776
- Operating Profit
- —
- OPM %
- —
- Other Income
- 1
- Interest
- 39
- Depreciation
- 68
- 114
- Tax %
- 25.98%
- Net Profit
- 0
- 5
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 974
- 786
- Operating Profit
- —
- OPM %
- —
- Other Income
- 18
- Interest
- 34
- Depreciation
- 72
- 100
- Tax %
- 34.26%
- Net Profit
- 0
- 4
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 959
- 790
- Operating Profit
- —
- OPM %
- —
- Other Income
- 9
- Interest
- 36
- Depreciation
- 62
- 79
- Tax %
- 32.56%
- Net Profit
- 809
- 3
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 1,054
- 888
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 39
- Depreciation
- 60
- 69
- Tax %
- 15.81%
- Net Profit
- 1,898
- 3
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 1,074
- 947
- Operating Profit
- —
- OPM %
- —
- Other Income
- 4
- Interest
- 42
- Depreciation
- 64
- 24
- Tax %
- 12.32%
- Net Profit
- 996
- 1
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 947
- 849
- Operating Profit
- —
- OPM %
- —
- Other Income
- 11
- Interest
- 49
- Depreciation
- 85
- -23
- Tax %
- 955.86%
- Net Profit
- 200
- 11
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 1,015
- 867
- Operating Profit
- —
- OPM %
- —
- Other Income
- 4
- Interest
- 49
- Depreciation
- 80
- 24
- Tax %
- 23.06%
- Net Profit
- 12
- 1
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 908
- 785
- Operating Profit
- —
- OPM %
- —
- Other Income
- 6
- Interest
- 53
- Depreciation
- 80
- -5
- Tax %
- 14.18%
- Net Profit
- -95
- -1
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 1,099
- 935
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 51
- Depreciation
- 84
- 19
- Tax %
- 23.57%
- Net Profit
- 14
- 1
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 1,217
- 1,009
- Operating Profit
- —
- OPM %
- —
- Other Income
- 2
- Interest
- 57
- Depreciation
- 88
- 64
- Tax %
- 4.56%
- Net Profit
- 56
- 3
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 1,217
- 1,155
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 57
- Depreciation
- 99
- 65
- Tax %
- 27.58%
- Net Profit
- 47
- 0
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 36
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 921 | 1,491 | 1,931 | 1,216 | 1,289 | 2,320 | 3,193 | 3,955 | 4,034 | 4,238 | 4,440 | |
| 759 | 1,202 | 1,545 | 1,008 | 1,065 | 1,802 | 2,499 | 3,113 | 3,473 | 3,593 | 3,884 | |
| Operating Profit | 170 | 293 | 389 | 215 | 229 | 520 | 698 | 871 | 588 | 658 | — |
| OPM % | 18 | 20 | 20 | 18 | 18 | 22 | 22 | 22 | 15 | 16 | — |
| Other Income | 8 | 4 | 3 | 7 | 6 | 1 | 4 | 29 | 26 | 13 | 13 |
| Interest | 78 | 73 | 84 | 80 | 81 | 97 | 122 | 154 | 167 | 213 | 219 |
| Depreciation | 75 | 85 | 121 | 121 | 117 | 169 | 202 | 258 | 271 | 333 | 353 |
| 17 | 135 | 184 | 15 | 32 | 253 | 374 | 459 | 148 | 84 | 143 | |
| Tax % | 33 | 30 | 35 | 34 | 35 | 22 | 34 | 26 | -124 | 15 | 17 |
| Net Profit | 11 | 95 | 120 | 10 | 21 | 198 | 248 | 341 | 332 | 72 | 118 |
| EPS | 4 | 30 | 37 | 3 | 6 | 12 | 15 | 19 | 23 | 4 | — |
| Dividend Payout % | 26 | 3 | 4 | 0 | 0 | 4 | 13 | 11 | 9 | 25 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -12 |
| Adjusted EPS | 1 | 6 | 7 | 1 | 1 | 12 | 16 | 19 | 23 | 4 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -12 |
| Adjusted EPS | 1 | 6 | 7 | 1 | 1 | 12 | 16 | 19 | 23 | 4 | — |
Mar 2017
- 921
- 759
- Operating Profit
- 170
- OPM %
- 18
- Other Income
- 8
- Interest
- 78
- Depreciation
- 75
- 17
- Tax %
- 33
- Net Profit
- 11
- EPS
- 4
- Dividend Payout %
- 26
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2018
- 1,491
- 1,202
- Operating Profit
- 293
- OPM %
- 20
- Other Income
- 4
- Interest
- 73
- Depreciation
- 85
- 135
- Tax %
- 30
- Net Profit
- 95
- EPS
- 30
- Dividend Payout %
- 3
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 6
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 6
Mar 2019
- 1,931
- 1,545
- Operating Profit
- 389
- OPM %
- 20
- Other Income
- 3
- Interest
- 84
- Depreciation
- 121
- 184
- Tax %
- 35
- Net Profit
- 120
- EPS
- 37
- Dividend Payout %
- 4
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 7
Mar 2020
- 1,216
- 1,008
- Operating Profit
- 215
- OPM %
- 18
- Other Income
- 7
- Interest
- 80
- Depreciation
- 121
- 15
- Tax %
- 34
- Net Profit
- 10
- EPS
- 3
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2021
- 1,289
- 1,065
- Operating Profit
- 229
- OPM %
- 18
- Other Income
- 6
- Interest
- 81
- Depreciation
- 117
- 32
- Tax %
- 35
- Net Profit
- 21
- EPS
- 6
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 1
Mar 2022
- 2,320
- 1,802
- Operating Profit
- 520
- OPM %
- 22
- Other Income
- 1
- Interest
- 97
- Depreciation
- 169
- 253
- Tax %
- 22
- Net Profit
- 198
- EPS
- 12
- Dividend Payout %
- 4
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 12
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 12
Mar 2023
- 3,193
- 2,499
- Operating Profit
- 698
- OPM %
- 22
- Other Income
- 4
- Interest
- 122
- Depreciation
- 202
- 374
- Tax %
- 34
- Net Profit
- 248
- EPS
- 15
- Dividend Payout %
- 13
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 16
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 16
Mar 2024
- 3,955
- 3,113
- Operating Profit
- 871
- OPM %
- 22
- Other Income
- 29
- Interest
- 154
- Depreciation
- 258
- 459
- Tax %
- 26
- Net Profit
- 341
- EPS
- 19
- Dividend Payout %
- 11
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 19
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 19
Mar 2025
- 4,034
- 3,473
- Operating Profit
- 588
- OPM %
- 15
- Other Income
- 26
- Interest
- 167
- Depreciation
- 271
- 148
- Tax %
- -124
- Net Profit
- 332
- EPS
- 23
- Dividend Payout %
- 9
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 23
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 23
Mar 2026
- 4,238
- 3,593
- Operating Profit
- 658
- OPM %
- 16
- Other Income
- 13
- Interest
- 213
- Depreciation
- 333
- 84
- Tax %
- 15
- Net Profit
- 72
- EPS
- 4
- Dividend Payout %
- 25
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 4
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 4
TTM
- 4,440
- 3,884
- Operating Profit
- —
- OPM %
- —
- Other Income
- 13
- Interest
- 219
- Depreciation
- 353
- 143
- Tax %
- 17
- Net Profit
- 118
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- -12
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- -12
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 15%
- 5 Years:
- 27%
- 3 Years:
- 10%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 3%
- 5 Years:
- 28%
- 3 Years:
- -34%
STOCK PRICE CAGR
- 10 Years:
- 25%
- 5 Years:
- 34%
- 3 Years:
- 5%
- 1 Year:
- 30%
RETURN ON EQUITY
- 10 Years:
- 11%
- 5 Years:
- 15%
- 3 Years:
- 10%
- Last Year:
- 2%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 29 | 33 | 33 | 33 | 32 | 32 | 32 | 36 | 36 | 36 |
| 436 | 720 | 834 | 837 | 843 | 1,039 | 1,259 | 2,639 | 2,978 | 3,157 | |
| 533 | 459 | 454 | 510 | 559 | 722 | 550 | 149 | 710 | 356 | |
| Trade Payables | 300 | 301 | 279 | 214 | 433 | 608 | 792 | 1,017 | 1,080 | 1,145 |
| 559 | 568 | 638 | 638 | 842 | 1,124 | 1,162 | 1,572 | 1,734 | 2,465 | |
| Total Liabilities | 1,858 | 2,080 | 2,237 | 2,231 | 2,709 | 3,525 | 3,794 | 5,413 | 6,539 | 7,159 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 1,024 | 1,076 | 1,114 | 1,175 | 1,240 | 1,473 | 1,693 | 2,428 | 2,992 | 3,761 | |
| Capital Work in Progress | 50 | 44 | 130 | 219 | 276 | 129 | 91 | 216 | 498 | 337 |
| 0 | 0 | 0 | 0 | 0 | 55 | 0 | 125 | 190 | 241 | |
| 229 | 299 | 331 | 359 | 438 | 709 | 907 | 1,100 | 1,254 | 1,246 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 850 | 975 | 795 | |
| Cash & Bank | 2 | 1 | 3 | 3 | 68 | 38 | 47 | 177 | 20 | 163 |
| 553 | 660 | 659 | 475 | 686 | 1,120 | 1,057 | 516 | 609 | 616 | |
| Total Assets | 1,858 | 2,080 | 2,237 | 2,231 | 2,709 | 3,525 | 3,794 | 5,413 | 6,539 | 7,159 |
| Total Debt | 957 | 845 | 912 | 989 | 1,229 | 1,591 | 1,307 | 1,118 | 2,013 | 2,335 |
| Net Working Capital | -162 | 65 | 110 | -2 | 89 | 384 | 380 | 821 | 233 | 316 |
| Contingent Liabilities | 19 | 56 | 45 | 120 | 76 | 76 | 70 | 79 | 57 | 57 |
| Book Value per Share | 162.16 | 230.92 | 265.66 | 266.72 | 274.14 | 66.98 | 80.72 | 147.96 | 166.51 | 175.99 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 |
| Total Debt | 957 | 845 | 912 | 989 | 1,229 | 1,591 | 1,307 | 1,118 | 2,013 | 2,335 |
| Net Working Capital | -162 | 65 | 110 | -2 | 89 | 384 | 380 | 821 | 233 | 316 |
| Contingent Liabilities | 19 | 56 | 45 | 120 | 76 | 76 | 70 | 79 | 57 | 57 |
| Book Value per Share | 162.16 | 230.92 | 265.66 | 266.72 | 274.14 | 66.98 | 80.72 | 147.96 | 166.51 | 175.99 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 |
Mar 2017
- Equity Capital
- 29
- 436
- 533
- Trade Payables
- 300
- 559
- Total Liabilities
- 1,858
- 1,024
- Capital Work in Progress
- 50
- 0
- 229
- 0
- Cash & Bank
- 2
- 553
- Total Assets
- 1,858
- Total Debt
- 957
- Net Working Capital
- -162
- Contingent Liabilities
- 19
- Book Value per Share
- 162.16
- Face Value
- 10.00
- Total Debt
- 957
- Net Working Capital
- -162
- Contingent Liabilities
- 19
- Book Value per Share
- 162.16
- Face Value
- 10.00
Mar 2018
- Equity Capital
- 33
- 720
- 459
- Trade Payables
- 301
- 568
- Total Liabilities
- 2,080
- 1,076
- Capital Work in Progress
- 44
- 0
- 299
- 0
- Cash & Bank
- 1
- 660
- Total Assets
- 2,080
- Total Debt
- 845
- Net Working Capital
- 65
- Contingent Liabilities
- 56
- Book Value per Share
- 230.92
- Face Value
- 10.00
- Total Debt
- 845
- Net Working Capital
- 65
- Contingent Liabilities
- 56
- Book Value per Share
- 230.92
- Face Value
- 10.00
Mar 2019
- Equity Capital
- 33
- 834
- 454
- Trade Payables
- 279
- 638
- Total Liabilities
- 2,237
- 1,114
- Capital Work in Progress
- 130
- 0
- 331
- 0
- Cash & Bank
- 3
- 659
- Total Assets
- 2,237
- Total Debt
- 912
- Net Working Capital
- 110
- Contingent Liabilities
- 45
- Book Value per Share
- 265.66
- Face Value
- 10.00
- Total Debt
- 912
- Net Working Capital
- 110
- Contingent Liabilities
- 45
- Book Value per Share
- 265.66
- Face Value
- 10.00
Mar 2020
- Equity Capital
- 33
- 837
- 510
- Trade Payables
- 214
- 638
- Total Liabilities
- 2,231
- 1,175
- Capital Work in Progress
- 219
- 0
- 359
- 0
- Cash & Bank
- 3
- 475
- Total Assets
- 2,231
- Total Debt
- 989
- Net Working Capital
- -2
- Contingent Liabilities
- 120
- Book Value per Share
- 266.72
- Face Value
- 10.00
- Total Debt
- 989
- Net Working Capital
- -2
- Contingent Liabilities
- 120
- Book Value per Share
- 266.72
- Face Value
- 10.00
Mar 2021
- Equity Capital
- 32
- 843
- 559
- Trade Payables
- 433
- 842
- Total Liabilities
- 2,709
- 1,240
- Capital Work in Progress
- 276
- 0
- 438
- 0
- Cash & Bank
- 68
- 686
- Total Assets
- 2,709
- Total Debt
- 1,229
- Net Working Capital
- 89
- Contingent Liabilities
- 76
- Book Value per Share
- 274.14
- Face Value
- 10.00
- Total Debt
- 1,229
- Net Working Capital
- 89
- Contingent Liabilities
- 76
- Book Value per Share
- 274.14
- Face Value
- 10.00
Mar 2022
- Equity Capital
- 32
- 1,039
- 722
- Trade Payables
- 608
- 1,124
- Total Liabilities
- 3,525
- 1,473
- Capital Work in Progress
- 129
- 55
- 709
- 0
- Cash & Bank
- 38
- 1,120
- Total Assets
- 3,525
- Total Debt
- 1,591
- Net Working Capital
- 384
- Contingent Liabilities
- 76
- Book Value per Share
- 66.98
- Face Value
- 2.00
- Total Debt
- 1,591
- Net Working Capital
- 384
- Contingent Liabilities
- 76
- Book Value per Share
- 66.98
- Face Value
- 2.00
Mar 2023
- Equity Capital
- 32
- 1,259
- 550
- Trade Payables
- 792
- 1,162
- Total Liabilities
- 3,794
- 1,693
- Capital Work in Progress
- 91
- 0
- 907
- 0
- Cash & Bank
- 47
- 1,057
- Total Assets
- 3,794
- Total Debt
- 1,307
- Net Working Capital
- 380
- Contingent Liabilities
- 70
- Book Value per Share
- 80.72
- Face Value
- 2.00
- Total Debt
- 1,307
- Net Working Capital
- 380
- Contingent Liabilities
- 70
- Book Value per Share
- 80.72
- Face Value
- 2.00
Mar 2024
- Equity Capital
- 36
- 2,639
- 149
- Trade Payables
- 1,017
- 1,572
- Total Liabilities
- 5,413
- 2,428
- Capital Work in Progress
- 216
- 125
- 1,100
- 850
- Cash & Bank
- 177
- 516
- Total Assets
- 5,413
- Total Debt
- 1,118
- Net Working Capital
- 821
- Contingent Liabilities
- 79
- Book Value per Share
- 147.96
- Face Value
- 2.00
- Total Debt
- 1,118
- Net Working Capital
- 821
- Contingent Liabilities
- 79
- Book Value per Share
- 147.96
- Face Value
- 2.00
Mar 2025
- Equity Capital
- 36
- 2,978
- 710
- Trade Payables
- 1,080
- 1,734
- Total Liabilities
- 6,539
- 2,992
- Capital Work in Progress
- 498
- 190
- 1,254
- 975
- Cash & Bank
- 20
- 609
- Total Assets
- 6,539
- Total Debt
- 2,013
- Net Working Capital
- 233
- Contingent Liabilities
- 57
- Book Value per Share
- 166.51
- Face Value
- 2.00
- Total Debt
- 2,013
- Net Working Capital
- 233
- Contingent Liabilities
- 57
- Book Value per Share
- 166.51
- Face Value
- 2.00
Mar 2026
- Equity Capital
- 36
- 3,157
- 356
- Trade Payables
- 1,145
- 2,465
- Total Liabilities
- 7,159
- 3,761
- Capital Work in Progress
- 337
- 241
- 1,246
- 795
- Cash & Bank
- 163
- 616
- Total Assets
- 7,159
- Total Debt
- 2,335
- Net Working Capital
- 316
- Contingent Liabilities
- 57
- Book Value per Share
- 175.99
- Face Value
- 2.00
- Total Debt
- 2,335
- Net Working Capital
- 316
- Contingent Liabilities
- 57
- Book Value per Share
- 175.99
- Face Value
- 2.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 144 | 127 | 267 | 254 | 140 | 43 | 745 | 621 | 33 | 840 | |
| Cash from Investing | -107 | -110 | -254 | -231 | -222 | -354 | -299 | -1,117 | -912 | -929 |
| Cash from Financing | -37 | -17 | -12 | -22 | 147 | 280 | -438 | 625 | 722 | 235 |
| -1 | 0 | 1 | 1 | 65 | -31 | 8 | 129 | -157 | 146 | |
| Free Cash Flow | 144 | -2 | 23 | -14 | -98 | -209 | 367 | -459 | -1,072 | -86 |
| OCF / Net Profit | 12.80 | 1.34 | 2.23 | 26.22 | 6.75 | 0.22 | 3.00 | 1.82 | 0.10 | 11.70 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 52 | -300 | 69 | -414 | -1,472 | -1,460 |
| OCF / Net Profit | 12.80 | 1.34 | 2.23 | 26.22 | 6.75 | 0.22 | 3.00 | 1.82 | 0.10 | 11.70 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 52 | -300 | 69 | -414 | -1,472 | -1,460 |
Mar 2017
- 144
- Cash from Investing
- -107
- Cash from Financing
- -37
- -1
- Free Cash Flow
- 144
- OCF / Net Profit
- 12.80
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 12.80
- Cumulative 5-Year FCF
- 0
Mar 2018
- 127
- Cash from Investing
- -110
- Cash from Financing
- -17
- 0
- Free Cash Flow
- -2
- OCF / Net Profit
- 1.34
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.34
- Cumulative 5-Year FCF
- 0
Mar 2019
- 267
- Cash from Investing
- -254
- Cash from Financing
- -12
- 1
- Free Cash Flow
- 23
- OCF / Net Profit
- 2.23
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 2.23
- Cumulative 5-Year FCF
- 0
Mar 2020
- 254
- Cash from Investing
- -231
- Cash from Financing
- -22
- 1
- Free Cash Flow
- -14
- OCF / Net Profit
- 26.22
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 26.22
- Cumulative 5-Year FCF
- 0
Mar 2021
- 140
- Cash from Investing
- -222
- Cash from Financing
- 147
- 65
- Free Cash Flow
- -98
- OCF / Net Profit
- 6.75
- Cumulative 5-Year FCF
- 52
- OCF / Net Profit
- 6.75
- Cumulative 5-Year FCF
- 52
Mar 2022
- 43
- Cash from Investing
- -354
- Cash from Financing
- 280
- -31
- Free Cash Flow
- -209
- OCF / Net Profit
- 0.22
- Cumulative 5-Year FCF
- -300
- OCF / Net Profit
- 0.22
- Cumulative 5-Year FCF
- -300
Mar 2023
- 745
- Cash from Investing
- -299
- Cash from Financing
- -438
- 8
- Free Cash Flow
- 367
- OCF / Net Profit
- 3.00
- Cumulative 5-Year FCF
- 69
- OCF / Net Profit
- 3.00
- Cumulative 5-Year FCF
- 69
Mar 2024
- 621
- Cash from Investing
- -1,117
- Cash from Financing
- 625
- 129
- Free Cash Flow
- -459
- OCF / Net Profit
- 1.82
- Cumulative 5-Year FCF
- -414
- OCF / Net Profit
- 1.82
- Cumulative 5-Year FCF
- -414
Mar 2025
- 33
- Cash from Investing
- -912
- Cash from Financing
- 722
- -157
- Free Cash Flow
- -1,072
- OCF / Net Profit
- 0.10
- Cumulative 5-Year FCF
- -1,472
- OCF / Net Profit
- 0.10
- Cumulative 5-Year FCF
- -1,472
Mar 2026
- 840
- Cash from Investing
- -929
- Cash from Financing
- 235
- 146
- Free Cash Flow
- -86
- OCF / Net Profit
- 11.70
- Cumulative 5-Year FCF
- -1,460
- OCF / Net Profit
- 11.70
- Cumulative 5-Year FCF
- -1,460
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 3.91 | 29.13 | 36.84 | 2.97 | 6.47 | 12.39 | 15.52 | 18.89 | 22.93 | 3.96 |
| Book Value (₹) | 162.16 | 230.92 | 265.66 | 266.72 | 274.14 | 66.98 | 80.72 | 147.96 | 166.51 | 175.99 |
| Dividend per Share (₹) | 1.00 | 1.00 | 1.50 | 0.00 | 0.00 | 0.50 | 2.00 | 2.00 | 2.00 | 1.00 |
| Cash EPS (₹) | 6.02 | 11.02 | 14.79 | 7.99 | 8.60 | 22.98 | 28.13 | 33.14 | 33.30 | 22.30 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 17.14% | 19.43% | 20.13% | 17.69% | 17.77% | 22.40% | 21.86% | 21.30% | 13.91% | 15.22% |
| Net Margin % | 1.13% | 6.29% | 6.22% | 0.80% | 1.60% | 8.53% | 7.77% | 8.63% | 8.22% | 1.69% |
| ROE % | 2.40% | 15.59% | 14.84% | 1.12% | 2.37% | 20.35% | 21.01% | 17.22% | 11.66% | 2.31% |
| ROCE % | 6.84% | 13.76% | 15.81% | 5.19% | 5.65% | 14.66% | 18.73% | 19.06% | 7.12% | 5.56% |
| 0.63% | 4.82% | 5.56% | 0.43% | 0.84% | 6.35% | 6.78% | 7.42% | 5.55% | 1.05% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 144 | 116 | 97 | 128 | 130 | 115 | 95 | 75 | 83 | 76 |
| Inventory Days | 83 | 64 | 60 | 104 | 113 | 90 | 92 | 93 | 107 | 108 |
| Payable Days | 220 | 104 | 48 | 86 | 106 | 96 | 90 | 77 | 91 | 85 |
| 6 | 76 | 108 | 145 | 137 | 109 | 98 | 90 | 99 | 99 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 2.06x | 1.12x | 1.05x | 1.14x | 1.40x | 1.49x | 1.01x | 0.42x | 0.67x | 0.73x |
| Interest Coverage (x) | 1.22x | 2.84x | 3.19x | 1.19x | 1.39x | 3.61x | 4.08x | 3.98x | 1.88x | 1.40x |
| 0.82x | 1.07x | 1.13x | 1.00x | 1.08x | 1.26x | 1.25x | 1.53x | 1.10x | 1.15x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | -15.35% | 61.93% | 29.52% | -37.01% | 5.96% | 80.01% | 37.61% | 23.87% | 2.00% | 5.06% |
| Operating Profit Growth % | -7.33% | 72.41% | 32.65% | -44.67% | 6.49% | 126.87% | 34.27% | 24.84% | -32.56% | 11.98% |
| Net Profit Growth % | -79.43% | 746.26% | 26.53% | -91.93% | 113.17% | 858.12% | 25.29% | 37.62% | -2.90% | -78.34% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 21.72% | 21.38% | -82.74% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 36.59x | 33.69x | 118.01x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 4.67x | 4.64x | 2.65x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.29% | 0.26% | 0.21% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 15.42x | 27.19x | 16.18x |
Mar 2017
- EPS (₹)
- 3.91
- Book Value (₹)
- 162.16
- Dividend per Share (₹)
- 1.00
- Cash EPS (₹)
- 6.02
- Operating Margin %
- 17.14%
- Net Margin %
- 1.13%
- ROE %
- 2.40%
- ROCE %
- 6.84%
- 0.63%
- Debtor Days
- 144
- Inventory Days
- 83
- Payable Days
- 220
- 6
- Debt to Equity (x)
- 2.06x
- Interest Coverage (x)
- 1.22x
- 0.82x
- Revenue Growth %
- -15.35%
- Operating Profit Growth %
- -7.33%
- Net Profit Growth %
- -79.43%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- 29.13
- Book Value (₹)
- 230.92
- Dividend per Share (₹)
- 1.00
- Cash EPS (₹)
- 11.02
- Operating Margin %
- 19.43%
- Net Margin %
- 6.29%
- ROE %
- 15.59%
- ROCE %
- 13.76%
- 4.82%
- Debtor Days
- 116
- Inventory Days
- 64
- Payable Days
- 104
- 76
- Debt to Equity (x)
- 1.12x
- Interest Coverage (x)
- 2.84x
- 1.07x
- Revenue Growth %
- 61.93%
- Operating Profit Growth %
- 72.41%
- Net Profit Growth %
- 746.26%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- 36.84
- Book Value (₹)
- 265.66
- Dividend per Share (₹)
- 1.50
- Cash EPS (₹)
- 14.79
- Operating Margin %
- 20.13%
- Net Margin %
- 6.22%
- ROE %
- 14.84%
- ROCE %
- 15.81%
- 5.56%
- Debtor Days
- 97
- Inventory Days
- 60
- Payable Days
- 48
- 108
- Debt to Equity (x)
- 1.05x
- Interest Coverage (x)
- 3.19x
- 1.13x
- Revenue Growth %
- 29.52%
- Operating Profit Growth %
- 32.65%
- Net Profit Growth %
- 26.53%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- 2.97
- Book Value (₹)
- 266.72
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 7.99
- Operating Margin %
- 17.69%
- Net Margin %
- 0.80%
- ROE %
- 1.12%
- ROCE %
- 5.19%
- 0.43%
- Debtor Days
- 128
- Inventory Days
- 104
- Payable Days
- 86
- 145
- Debt to Equity (x)
- 1.14x
- Interest Coverage (x)
- 1.19x
- 1.00x
- Revenue Growth %
- -37.01%
- Operating Profit Growth %
- -44.67%
- Net Profit Growth %
- -91.93%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- 6.47
- Book Value (₹)
- 274.14
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 8.60
- Operating Margin %
- 17.77%
- Net Margin %
- 1.60%
- ROE %
- 2.37%
- ROCE %
- 5.65%
- 0.84%
- Debtor Days
- 130
- Inventory Days
- 113
- Payable Days
- 106
- 137
- Debt to Equity (x)
- 1.40x
- Interest Coverage (x)
- 1.39x
- 1.08x
- Revenue Growth %
- 5.96%
- Operating Profit Growth %
- 6.49%
- Net Profit Growth %
- 113.17%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 12.39
- Book Value (₹)
- 66.98
- Dividend per Share (₹)
- 0.50
- Cash EPS (₹)
- 22.98
- Operating Margin %
- 22.40%
- Net Margin %
- 8.53%
- ROE %
- 20.35%
- ROCE %
- 14.66%
- 6.35%
- Debtor Days
- 115
- Inventory Days
- 90
- Payable Days
- 96
- 109
- Debt to Equity (x)
- 1.49x
- Interest Coverage (x)
- 3.61x
- 1.26x
- Revenue Growth %
- 80.01%
- Operating Profit Growth %
- 126.87%
- Net Profit Growth %
- 858.12%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 15.52
- Book Value (₹)
- 80.72
- Dividend per Share (₹)
- 2.00
- Cash EPS (₹)
- 28.13
- Operating Margin %
- 21.86%
- Net Margin %
- 7.77%
- ROE %
- 21.01%
- ROCE %
- 18.73%
- 6.78%
- Debtor Days
- 95
- Inventory Days
- 92
- Payable Days
- 90
- 98
- Debt to Equity (x)
- 1.01x
- Interest Coverage (x)
- 4.08x
- 1.25x
- Revenue Growth %
- 37.61%
- Operating Profit Growth %
- 34.27%
- Net Profit Growth %
- 25.29%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 18.89
- Book Value (₹)
- 147.96
- Dividend per Share (₹)
- 2.00
- Cash EPS (₹)
- 33.14
- Operating Margin %
- 21.30%
- Net Margin %
- 8.63%
- ROE %
- 17.22%
- ROCE %
- 19.06%
- 7.42%
- Debtor Days
- 75
- Inventory Days
- 93
- Payable Days
- 77
- 90
- Debt to Equity (x)
- 0.42x
- Interest Coverage (x)
- 3.98x
- 1.53x
- Revenue Growth %
- 23.87%
- Operating Profit Growth %
- 24.84%
- Net Profit Growth %
- 37.62%
- 21.72%
- P/E (x)
- 36.59x
- P/B (x)
- 4.67x
- Dividend Yield %
- 0.29%
- 15.42x
Mar 2025
- EPS (₹)
- 22.93
- Book Value (₹)
- 166.51
- Dividend per Share (₹)
- 2.00
- Cash EPS (₹)
- 33.30
- Operating Margin %
- 13.91%
- Net Margin %
- 8.22%
- ROE %
- 11.66%
- ROCE %
- 7.12%
- 5.55%
- Debtor Days
- 83
- Inventory Days
- 107
- Payable Days
- 91
- 99
- Debt to Equity (x)
- 0.67x
- Interest Coverage (x)
- 1.88x
- 1.10x
- Revenue Growth %
- 2.00%
- Operating Profit Growth %
- -32.56%
- Net Profit Growth %
- -2.90%
- 21.38%
- P/E (x)
- 33.69x
- P/B (x)
- 4.64x
- Dividend Yield %
- 0.26%
- 27.19x
Mar 2026
- EPS (₹)
- 3.96
- Book Value (₹)
- 175.99
- Dividend per Share (₹)
- 1.00
- Cash EPS (₹)
- 22.30
- Operating Margin %
- 15.22%
- Net Margin %
- 1.69%
- ROE %
- 2.31%
- ROCE %
- 5.56%
- 1.05%
- Debtor Days
- 76
- Inventory Days
- 108
- Payable Days
- 85
- 99
- Debt to Equity (x)
- 0.73x
- Interest Coverage (x)
- 1.40x
- 1.15x
- Revenue Growth %
- 5.06%
- Operating Profit Growth %
- 11.98%
- Net Profit Growth %
- -78.34%
- -82.74%
- P/E (x)
- 118.01x
- P/B (x)
- 2.65x
- Dividend Yield %
- 0.21%
- 16.18x
Documents
Announcements
- Shareholders meeting
2026-08-20 - Ramkrishna Forgings Limited has informed the Exchange regarding Notice of Postal Ballot along with explanatory statement, seeking approval of the Members for reclassification of MAA Chandi Financial Advisory Services Private Limited (formerly Ramkrishna Rail and Infrastructure Private Limited), a member of Promoter Group, from ''Promoter and Promoter Group'' Category to ''Public'' Category.
- Updates
2026-08-19 - Ramkrishna Forgings Limited has informed the Exchange regarding 'Submission of Certificate from Statutory Auditor in terms of Regulation 169(5) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ( SEBI ICDR Regulations )'.
Annual Reports
Nothing filed yet.
Credit Ratings
- Credit Rating- Revision
2026-05-19 - Revision of Credit Ratings of the Company by India Ratings & Research
- Credit Rating- Revision
2025-12-20 - Ramkrishna Forgings Limited has informed the Exchange about Credit Rating- Revision
- Credit Rating- Revision
2025-09-24 - Ramkrishna Forgings Limited has informed the Exchange about Credit Rating- Revision
Concalls
Jul 2026
May 2026
Feb 2026