Ramkrishna Forgings LimitedQ1FY27 Results & Financial Update
Ramkrishna Forgings Limited: Q1FY27 consolidated results and company financials – revenue ₹1,216.67 Cr, PAT ₹46.88 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceReported figures and period changes.Changes compare like-for-like reported periods where available.
Find an answer
Ask this result
Chart · Market context
Ramkrishna Forgings price & chart
Market price₹697.25
1Y return—Price return
Loading market chart…
TradingView Lightweight Charts™ · Copyright © 2025 TradingView, Inc.TradingView
Market chartPrice chart temporarily unavailableThe price chart could not be loaded right now. The reported financial results remain available above.
Spotted a factual error?Tell us the number, date or statement and we will re-check the underlying records and calculations.Report an error
Quarterly Results AnalysisExplore Ramkrishna Forgings Q1FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Ramkrishna Forgings Limited commenced FY27 with a solid operational performance during the first quarter ended June 30, 2026, supported by steady demand in domestic markets and healthy volume expansion in export channels.
Consolidated revenue from operations stood at ₹1,217 crore, marking a 19.8% year-on-year increase compared to ₹1,015 crore in Q1 FY26, while remaining stable sequentially against ₹1,217 crore in Q4 FY26.
Profitability expanded significantly on a year-on-year basis, driven by improved operating leverage, cost discipline, and a more favorable business mix across product verticals.
The commercial vehicle segment remained resilient during the quarter, while newer growth verticals such as railways, oil and gas, mining, and industrial machinery continued to scale up and diversify the company's revenue streams.
During the quarter, the board announced a capital expenditure of ₹170.52 crores aimed at setting up a new passenger vehicle component manufacturing project and a 4,000 metric tonne press line for forging capacity expansion.
The board also approved the re-designation of Mr. Chaitanya Jalan from Whole-time Director to Joint Managing Director effective July 24, 2026, through the remainder of his term ending November 8, 2029.
01 · Business model
What does Ramkrishna Forgings do?
Ramkrishna Forgings Limited, incorporated in 1981 and headquartered in Kolkata, is a leading integrated manufacturer specializing in rolled, forged, machined, and cast metal products. Its operations span hot, warm, and cold forging, ring rolling, gear grinding, machining, fabrication, aluminium forging, and casting.
The company serves a diverse customer base across domestic and international markets, catering to key end-user segments such as commercial vehicles, passenger vehicles, electric vehicles, railways, farm equipment, mining and earthmoving, oil and gas, power, and construction.
Ramkrishna Forgings maintains a global footprint spanning 20 manufacturing facilities across India and Mexico—including major hubs in Jamshedpur, Howrah, Manesar, Pune, and Monterrey—supported by a network of international sales, warehousing, and support offices in North America, Europe, and South America.
02 · Historical context
What shaped the business before this quarter
Earlier during FY26, the company expanded its manufacturing capabilities by adding press line and casting capacities across its Jamshedpur facilities to support growing product demand.
The company previously integrated specialized operations including Ramkrishna Casting Solutions Limited (formerly JMT Auto) and Ramkrishna Forgings Mexico to build a comprehensive global manufacturing value chain.
03 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Q1FY27 | Year-ago | Previous quarter |
|---|---|---|---|
| Revenue from operations | ₹1,216.67 Cr | ₹1,015.26 Cr | ₹1,216.78 Cr |
| Total income | ₹1,220.11 Cr | ₹1,018.89 Cr | ₹1,218.68 Cr |
| Profit before tax | ₹64.73 Cr | ₹17.32 Cr | ₹58.86 Cr |
| Profit after tax | ₹46.88 Cr | ₹11.79 Cr | ₹55.94 Cr |
| EPS | ₹2.58 | ₹0.65 | ₹3.09 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 3.9% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 5.3% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹3.44 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Sustained and firm demand across domestic automotive and industrial sectors drove steady revenue generation during the quarter.
A revival and healthy volume growth in international markets, particularly across North America and Europe, contributed positively to top-line performance.
What drove margins
Higher capacity utilization across manufacturing plants and better operating leverage supported overall profitability improvements.
An enhanced product mix featuring higher-value forged and cast offerings contributed to stronger operating performance year-on-year.
05 · Demand, customers & order book
Where demand is coming from
The company secured new orders worth ₹278 crore from the automobile segment (with approximately 82% in passenger vehicles and 18% in two-wheelers) and ₹15 crore from the Indian Railways metro segment during the quarter.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Commercial vehicles remained resilient, while passenger vehicle components continued to gain traction following recent order wins.
Newer verticals such as railways, mining, earthmoving, and industrial applications continued to scale up their share of total business.
Geography and market mix
Export revenues were largely anchored by steady demand in North America and Europe, supported by local warehousing and sales networks.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
As of June 30, 2026, total installed capacity stood at 3,95,800 MT across 20 manufacturing facilities, with forging capacity utilization at 68% and casting capacity utilization at 78%.
08 · Strategy & new businesses
How the company is trying to change its growth mix
The company is actively working on building its product portfolio in non-ferrous forgings targeting the aerospace and semiconductor industries.
09 · Reported developments
What changed operationally
Profit after tax for the quarter grew substantially compared to the same period last year, reflecting operational efficiency gains.
10 · Key Q&A
The quarter, answered directly
What does Ramkrishna Forgings do?
Ramkrishna Forgings Limited, incorporated in 1981 and headquartered in Kolkata, is a leading integrated manufacturer specializing in rolled, forged, machined, and cast metal products. Its operations span hot, warm, and cold forging, ring rolling, gear grinding, machining, fabrication, aluminium forging, and casting.
What is the clearest takeaway from Q1FY27?
Ramkrishna Forgings Limited commenced FY27 with a solid operational performance during the first quarter ended June 30, 2026, supported by steady demand in domestic markets and healthy volume expansion in export channels.
What drove revenue or demand?
Sustained and firm demand across domestic automotive and industrial sectors drove steady revenue generation during the quarter.
What mattered most for margins or profitability?
Higher capacity utilization across manufacturing plants and better operating leverage supported overall profitability improvements.
What changed operationally beyond the headline numbers?
As of June 30, 2026, total installed capacity stood at 3,95,800 MT across 20 manufacturing facilities, with forging capacity utilization at 68% and casting capacity utilization at 78%.
What should the next disclosure help confirm?
Monitor the progress and timeline of the ₹170.52 crore capex project toward its scheduled completion by September 2027.
11 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
Build your own next-quarter scenario
Reported values are prefilled where a comparable basis is available. Otherwise, the field starts at 0. You can overwrite every field.
Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
Scenario revenue / income₹0 cr
Scenario profit after tax₹0 cr
Profit change vs base₹0 cr (0%)
Scenario margin0%
Growth needed to keep profit flat after this margin move0%
The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
12 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Capex Execution: Monitor the progress and timeline of the ₹170.52 crore capex project toward its scheduled completion by September 2027.
Learn the metrics
Need the concepts first?
Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.