Ramkrishna Forgings Ltd Q4 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Q4 FY26 earnings call analysis: revenue, margin, capex, fundraise and order book outlook from management commentary.

Published 17 Aug 2026 | Auto Components | Market Cap: ₹12.9K Cr

FY27 export volumes expected to come back strongly, with better export-sales mix than previous years (Page 20). The company expects healthy growth in FY27 with continued top-line and bottom-line improvement, though no specific numbers were given.

From Ramkrishna Forgings Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.

Price

₹737

Market Cap

₹12.9K Cr

P/E Ratio

112.0

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Ramkrishna Forgings Ltd — Quarterly revenue & net profit

Revenue Net Profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹1.2K Cr, net profit ₹56 Cr.

Full financials →

📊 Revenue & Sales Performance

→FY27 export volumes expected to come back strongly, with better export-sales mix than previous years (Page 20).
→Confident of surpassing 10-15% CAGR growth for FY27 and FY28, possibly higher, though exact numbers not provided (Page 19).
→Targeting around 80-85% utilization of existing 350,000-400,000 tons capacity, leading to strong volume growth (Pages 12, 14, 19).
→Domestic market volumes strong; exports expected to increase and improve overall margins over the next two years (Page 12).
→Railway business growing, expected to reach double-digit revenue contribution (Page 18).
→EV segment revenue targeted to be about 10% in two years, highlighting diversification into passenger vehicles (Page 18).
→New orders worth Rs. 594 crores secured, supporting growth in both automotive and non-automotive segments (Page 5).
→Margins expected to improve with higher capacity utilization and passing on energy cost increases (Pages 14, 19).

📈 Profitability & Margins

→The company expects healthy growth in FY27 with continued top-line and bottom-line improvement, though no specific numbers were given.
→EBITDA margins improved by 200 basis points quarter-on-quarter, with further margin expansion expected as capacity utilization rises.
→Management is confident of surpassing previous CAGR growth guidance of 10%-15%, anticipating even higher growth in FY27 despite geopolitical risks.
→Export volumes are expected to grow significantly in FY27, with a stronger export mix leading to better margins over the next two years.
→Capacity utilization is targeted to reach 80%-85% by Q3/Q4 FY27, supporting volume growth and improved operating leverage.
→The company aims for at least 100-150 basis points margin improvement, contingent on passing through energy price increases from April 1 onwards.
→Longer-term revenue contributions from aerospace (titanium/alloys) expected from FY29.
→Focus on debt reduction alongside growth to support sustainable earnings enhancement.

See what Ramkrishna Forgings Ltd said on profitability & margins — free account, 30 seconds.

🏗️ Capital Expenditure Plans

→For FY27, capex is planned at Rs. 300 to Rs. 400 crores, mainly for value-added projects and contributions to the joint venture.
→An additional Rs. 50 crores is expected to be paid into the joint venture in FY27.
→The focus in FY27 is on consolidation and debt reduction (targeting Rs. 400 to Rs. 500 crores debt reduction).
→No major capex plans are finalized for FY28; discussions with customers regarding future capacity needs are ongoing.
→Long-term plans include potential capex for growth beyond FY28, once customer feedback on capacity requirements is firmed up.

💰 Fundraising & Capital Structure

→No new significant capex planned for FY27 beyond Rs. 300 to Rs. 400 crores, primarily for maintenance and value addition, including JV contribution.
→The company aims to focus on debt reduction, targeting a reduction of Rs. 400 to Rs. 500 crores in the current financial year.
→Promoter funding and good performance are expected to support the debt reduction plan.
→There is no mention of new equity fundraising or large debt-raising plans in the near term.
→Future capex plans beyond FY27 are not finalized and are dependent on customer feedback and capacity requirements.

See what Ramkrishna Forgings Ltd said on fundraising & capital structure — free account, 30 seconds.

📋 Order Book & Pipeline

→Q4 FY26: Company secured new orders worth Rs. 594 crores, span of four years.
→ - 56% Auto segment; 44% Non-Auto segment.
→ - Auto: Rs. 334 crores (Rs. 323 crores CV sector, Rs. 11 crores EV sector).
→ - Non-Auto: Rs. 258 crores energy segment, Rs. 2 crores off-highway.
→FY27 Orderbook:
→ - Incremental order for FY27 reported at Rs. 1,550 crores (reduced from Rs. 2,200 crores previous presentation due to timing adjustments).
→ - FY28 incremental order expected Rs. 1,100 crores more than FY27, with Rs. 2,800 crores total.
→Capacity utilization planned to increase to ~80%-85% in FY27 to support orders.
→No major revocation of orders; adjustments due to execution timing.
→Ring rolling capacity currently at 121% utilization, but no plans for capacity increase in the financial year.

Key Metrics

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Frequently Asked Questions

What were Ramkrishna Forgings Ltd Q4 FY26 results?

What is Ramkrishna Forgings Ltd share price analysis?

Ramkrishna Forgings Ltd currently shows a neutral. The stock trades at a P/E of 112.0 with a market cap of ₹12,869 Cr. Investors should review the full earnings analysis for detailed insights.

Is Ramkrishna Forgings Ltd planning capital expenditure?

For FY27, capex is planned at Rs.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.