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Ramkrishna Forgings Ltd share Price Today

Company details

720.10
767.85
310.70
814.70
6M Return 15.35%
1Y Return 143.15%
Mkt Cap.(Cr) 13,512.10
Volume 1,992,526
Div Yield 0.24%
OI
-
OI Chg %
-
Volume 1,992,526

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About The Stock

    Ramkrishna Forgings (RKF) is a Kolkata based forging company, incorporated in 1981. It has six manufacturing plants in India concentrated around Jamshedpur and Kolkata with installed capacity of 1,87,100 tonnes as on date.

    • FY22 mix: Asia 56%, Europe 14%, North America 30%
    • FY22 segment mix: auto ~81%; non-auto ~19%
Q3FY23

    RKF reported a stable performance in Q3FY23.

    • Consolidated sales were down 6% QoQ to ₹ 778 crore, with EBITDA at ₹ 173 crore, flat QoQ. EBITDA margins in Q3FY23 stood at 22.3%, up 100 bps QoQ
    • Sales volume in Q3FY23 came in at 33,390 tonnes up 4% QoQ with corresponding EBITDA/tonne at ₹51,824/tonne.
    • Consolidated PAT in Q3FY23 was down 9% QoQ to ₹ 61 crores

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Industrial Products company Ramkrishna Forgings announced Q3FY24 results:

Financial Performance Highlights:

  • Total Income: Ramkrishna Forgings reported a significant increase in total income, reaching Rs 90,288 lakh, a 20% YoY improvement.
  • EBITDA: Earnings before interest, tax, depreciation, and amortization amounted to Rs 20,750 lakh, marking a substantial 25% growth from the previous year.
  • EBITDA Margin: The margin for the quarter stood at 23.0%, a positive change of 90 basis points on a YoY basis.
  • PAT (Profit After Tax): PAT escalated to Rs 8,226 lakh, with a YoY gain of 43%, with margins increasing by 140 basis points to 9.1%.

Operational Highlights:

  • Capacity Utilization: The company achieved a capacity utilization of 96% in Q3FY24, showing continued improvement from 88% in Q2FY24 and 86% in Q3FY23.
  • Sales Volume: Q3FY24 sales volume increased by 35.6% YoY to 28,263 MT, and 9MFY24 sales volume rose by 22.8% to 76,277 MT.
  • Domestic Market Revenue: Revenue in the domestic market surged by 32.3% in Q3FY24 to Rs 55,456 lakh, and the revenue over the nine months grew by 20.2% to Rs 150,825 lakh.
  • Export Market Sales: In the export market, the sales volume in Q3FY24 rose by 6.2% YoY to 13,323 MT, and revenue for the quarter increased by 4.1% to Rs 34,047 lakh.

Strategic and Corporate Developments:

  • Fundraising Through QIP: The company successfully raised Rs 1,000 crore through its first-ever Qualified Institutional Placement (QIP).
  • Acquisition Update: Received a written order from NCLT New Delhi approving the resolution plan for acquiring ACIL Limited.

Commenting on the results Naresh Jalan, Managing Director, Ramkrishna Forgings, said: “During the quarter, the company registered a strong performance across segments & geographies, with YoY growth of 20% in revenues and 43% in profitability. EBITDA margins stood at 23% driven by operating leverage and a sharp focus on cost control.

We are committed to maintaining a sound financial position. The success of our QIP of 1,000 crore further strengthens our financial foundation, providing additional resources for strategic initiatives. The recent approval by NCLT Delhi for the acquisition of ACIL Limited aligns with our strategies, positioning us for a healthy and robust expansion in the next phase.

The commercial vehicle segment, especially post the festive season, has seen steady growth due to increased fleet utilization amid heightened economic and infrastructure activities. We expect this positive momentum to continue in the coming quarters.

We're committed to global expansion, diversifying products, exploring high-margin niche products, and increasing productivity through automation. Despite potential global disruptions affecting demand, we remain optimistic about sustaining momentum, supported by strong cash flow. We appreciate the continued trust and support of our stakeholders in this exciting growth phase.”

Result PDF

View Other Company Results

Ramkrishna Forgings Ltd shares SWOT Analysis

Strengths (11)

  • Strong Momentum: Price above short, medium and long term moving averages
  • Rising Net Cash Flow and Cash from Operating activity
  • Company with high TTM EPS Growth

Weakness (1)

  • MFs decreased their shareholding last quarter

Opportunity (2)

  • Highest Recovery from 52 Week Low
  • RSI indicating price strength

Threats (1)

  • High PE (PE > 40)

Resistance and support

R1 770.2
R2 792.9
R3 817.9
Pivot

745.13

S1 722.4
S2 697.4
S3 674.7
EMA SMA
711.7
713.5
707.7
649.5
702.1
714.4
734.0
678.4
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
THE VANGUARD GROUP INC AC VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND Bulk Purchase 2023-09-15 691.78 1060866 NSE
VANGUARD EMERGING MARKETS STOCK INDEX FUND Bulk Purchase 2023-09-15 691.78 1001635 NSE
BNP PARIBAS ARBITRAGE Bulk Sell 2023-09-15 686.37 1584659 NSE
Name Category Shares
NARESH JALAN PROMOTER 2.5%
CHAITANYA JALAN PROMOTER 1.69%
RASHMI JALAN PROMOTER 1.16%
NARESH JALAN HUF PROMOTER 0.74%
RIDDHI PORTFOLIO PRIVATE LTD PROMOTER 20.98%
EASTERN CREDIT CAPITAL PRIVATE LIMITED PROMOTER 12.51%
RAMKRISHNA RAIL AND INFRASTRUCTURE PRIVATE LIMITED PROMOTER 3.6%

OUR RESEARCH VIEW

Investment recommendation
Call Date
20 Feb 2023
Entry Price 266.00
Target Price 335.00
Duration
12-18 Month

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

Ramkrishna Forgings Ltd Stocks COMPARISON

Financials( in Cr) Ramkrishna Forgings Ltd Bharat Forge Ltd AIA Engineering Ltd CIE Automotive India Ltd TVS Holdings Ltd
Price 747.45 1,204.50 3,845.35 477.00 8,258.45
% Change -3.25 0.96 0.28 -1.59 0.34
Mcap Cr 13,512.10 56,080.20 36,269.34 18,095.57 16,708.50
Revenue TTM Cr 3,192.90 12,910.26 4,908.77 8,753.00 33,564.21
Net Profit TTM Cr 248.11 508.39 1,056.50 -136.20 1,333.17
PE TTM 42.74 64.37 31.77 22.68 21.13
1 Year Return 143.15 54.31 40.04 31.19 156.56
ROCE 18.33 7.32 25.25 13.95 13.41
ROE 20.67 6.88 20.23 -1.65 32.05
INSIDER & INSTITUTIONAL ACTIVITY

Equity Capital: 1,321.77 Cr FV: 2.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 19,463.02 -3,609.06
LAST 3M 83,632.14 32,580.07
LAST 6M 140,794.69 70,960.51
LAST 12M 216,582.31 196,780.81
Ramkrishna Forgings Limited - Press Release

Apr 22, 2024 l NSE Announcement

Ramkrishna Forgings strengthens its position in e-PV segment

Apr 18, 2024 l BSE Announcement

Ramkrishna Forgings Limited - Press Release

Apr 18, 2024 l NSE Announcement

Date Action Type Ratio
Oct 30, 2023 Dividend 50
May 09, 2023 Dividend 25
Jan 31, 2023 Dividend 25

Ramkrishna Forgings Ltd Information

Stock PE (TTM)
42.74
Promoter Holding
43.14%
Book Value
140.7573
ROCE
18.33%
ROE
20.67%
Description
  • Ramkrishna Forgings Limited presently has manufacturing facilities at Gamaria, Adityapur Industrial Area, Baliguma, Dugni at Saraikela, Jamshedpur in Jharkhand and at Liluah in West Bengal. The Company is primarily engaged in manufacturing and sale of forged components of automobiles, railway wagons & coach and engineering parts. The company`s products include forgings for railway coaches, wagons and locomotives; forgings for automobiles, mining and general engineering; forgings for valve bodies; transmission items; track links, master links and trade rollers; drop forgings from 1 kilogram to 125 kilograms, and forged and fabricated spares for railway wagons, coaches, diesel and steam locos, such as hanger, screw coupling, side frame key, shackle stone, guide, lower spring seats, draw gear assembly, snubber assy, block hangers, draw hook and drawbar. Ramkrishna Forgings Ltd was incorporated on November 12, 1981 as a private limited company with the name Ramkrishna Forgings Pvt Ltd. In the year 1984, the company commenced their production as a SSI unit. They started with the manufacturing of forging items for Railways. Over a period of time, the unit developed various other parts uses by Railway. In May 25, 1995, the company was converted into a public limited company and the name was changed to Ramkrishna Forgings Ltd. In the year 1997, the company undertook major expansion, whereby they increased their forging & die making capacity at Jamshedpur. Also, they purchased a unit at Liluah Industrial Area, Howrah, which had a machine shop for the rough machining of components. This acquisition helped the company to supply finished components to Railways & Body Builders directly from their Local unit. During the year 2004-05, the company installed two double acting ram type drop hammers of 6 ton and 3 ton capacity. They commissioned an up setter forging Machine line. Also, they installed a new ring rolling machine. Also, they set up a new CNC unit in close proximity to its existing unit at Jamshedpur and commenced commercial production. During the year 2008-09, the company augmented their Machining Facilities by procuring the CNC Gear Hobbing Machines, CNC Gear Shaving Machine and CNC Gear Shapping Machine from Mitsubishi Heavy Industries Ltd. They installed CNC Gear Hobbing Machines from Premier Ltd. Also, they further augmented the machining facilities by installation of 10 CNC Vertical Turingin Centres from Korea. During the year 2009-10, the company installed a press of 2,000 tons. During the year 2010-11, the company increased their billet cutting facilities by importing fully automatic horizontal bandsaw machine from Amada Machine Tools, Japan. They augmented their machining facilities by procuring CNC Gear Hobbing Machines from Mitsubishi Heavy Industries Ltd, Japan and Premier Ltd, High Performance CNC Turning Centers and CNC Vertical Machining Centers from Doosan, Korea. During the year, the company added 50 new products in the Turing section, 22 new products in the Gear section and 12 new products in HMC/ VMC section. In January 2011, the company increased the installed capacity of the forgings section by 3600 tons with the installation of Maxi-Press at its Plant I at Jamshedpur. During the year 2012-13, the Company acquired and subscribed to equity shares representing 72.82% of the Paid up Share Capital of Globe Forex and Travels Limited and resultant Globe Forex and Travels Limited became the subsidiary of Company effective from January 10, 2013. The Company installed a new 6 inch upsetter during the last quarter of 2014-15 which has enhanced the forgings capacity by around 8000 tons. It commissioned 3150 ton Pressline and 4500 ton Pressline on 21st July, 2014 which translates into 17500 MT of the Installed Capacity. It also commenced hot trails of 12500 ton pressline from 10th May, 2015. It further commissioned 6300 Pressline on 4th August, 2015 and 12500 ton Pressline on 21st December, 2015 and resultantly, the production capacity of the Company has increased by 80000 Tons by the Commissioning of all the Presslines. The Company had embarked upon a upon a Press Line Project to manufacture front axle beams, crankshafts, stub axles and connecting rods in 2014-15, which consists of 12500 Ton pressline imported from SMS, Gmbh, 6300 Ton pressline, 4500 Ton pressline and 3150 ton pressline. It also includes installation of state of the art Machining Centers and Heat Treatment facilities for supply of the machined Products. During the Financial Year 2017-18, the Company raised Rs 199.99 Crore through a Qualified Institutional Placement (QIP) for the purpose of capital expenditure for ongoing and future expansion of projects, acquisition, working capital, repayment of loans and for general corporate purposes. In addition, it issued and allotted 39,21,568 equity shares to Qualified Institutional Buyers at a price of Rs 510 each on 20th July 2017.

Registered Address

23 Circus Avenue, , Kolkata, West Bengal, 700017

Tel : 91-33-39840900
Email : secretarial:ramkrishnaforgings.com
Website : http://www.ramkrishnaforgings.com
Registrar

Karvy Computershare Pvt Ltd

AGM Date (Month) : Sep
Face Value Equity Shares : 2
Market Lot Equity Shares : 1
BSE Code : 532527
NSE Code : RKFORGE
Book Closure Date (Month) : Sep
BSE Group : A
ISIN : INE399G01023

FAQ’s on Ramkrishna Forgings Ltd Shares

You can buy Ramkrishna Forgings Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Ramkrishna Forgings Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Apr 22, 2024 03:59 PM the closing price of Ramkrishna Forgings Ltd was ₹ 747.45.

Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Apr 22, 2024 03:59 PM, the market cap of Ramkrishna Forgings Ltd stood at ₹ 13,512.10.

The latest PE ratio of Ramkrishna Forgings Ltd as of Apr 22, 2024 03:59 PM is 42.74

The latest PB ratio of Ramkrishna Forgings Ltd as of Apr 22, 2024 03:59 PM is 0.19

The 52-week high of Ramkrishna Forgings Ltd share price is ₹ 814.70 while the 52-week low is ₹ 310.70

According to analyst recommendations, Ramkrishna Forgings Ltd Share has a “Buy” rating for the long term.

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