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Ramkrishna Forgings Ltd share Price

Company details

6M Return 33.58%
1Y Return 57.02%
Mkt Cap.(Cr) 4,334.62
Volume 55,245
Div Yield 0.63%
OI Chg %
Volume 55,245

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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%


    RKF reported a healthy performance in Q4FY22.

    • Consolidated sales rose 19.5% QoQ to ₹ 718.7 crore, tonnage sold was at 32,038 tonnes up 9% QoQ.
    • EBITDA was at ₹ 147.6 crore with EBITDA/tonne at ₹ 46,070/tonne.
    • Consolidated PAT was up 85% QoQ to ₹ 84 crores (aided by reversal of DTL)
    • Management guided for strong sales growth momentum over FY22-24E

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Ramkrishna Forgings Ltd.

Q3FY23 Quarterly Result Announced for Ramkrishna Forgings Ltd.

Other industrial products company Ramkrishna Forgings announced Q3FY23 results:

  • Q3FY23:
    • Total income EBITDA at Rs 75,231 lakh, up 24% YoY
    • EBITDA at Rs 16,628 lakh, up 19% YoY
    • PAT Rs 5,757 lakhs, up 28% YoY
  • Domestic Markets:
    • In Q3FY23, sales volume was 20,842 MT, a YoY increase of 8.7%. In 9MFY23, sales volume was 62,099 MT, a YoY increase of 31.6% over 9MFY22
    • Revenue grew by 22.3% in Q3FY23 to Rs 41,911 lakh as compared to Q3FY22. Revenue grew by 52.4% YoY in 9MFY23 to Rs 125,462 lakh
    • Realization per tonne improved by 8.8% to Rs 1.90 lakh per tonne in Q3FY23 as compared to Rs 1.75 lakh per tonne in Q3FY22 and improved by 11.3% to Rs 1.94 lakh per MT in 9MFY23 as against Rs 1.74 lakh per tonne in 9MFY22
  • Exports Markets
    • In Q3FY23, sales volume was 12,548 MT, a YoY increase of 21.3% over Q3FY22. In 9MFY23, sales volume was 33,967 MT, a YoY increase of 4.5% over 9MFY22.
    • Revenue grew by 25.9% in Q3FY23 to Rs 32,691 lakh, as compared to Q3FY22. Revenue grew by 16.8% YoY in 9MFY23 to Rs 89,539 lakh
    • Realization per tonne improved by 7% to Rs 2.43 lakh per tonne in Q3FY23, as compared to Rs 2.27 per tonne in Q3FY22 and improved by 10.9% to Rs 2.46 lakh per tonne in 9MFY23 as against Rs 2.22 lakh per tonne in 9MFY22.

Commenting on the results, Naresh Jalan, Managing Director, Ramkrishna Forgings Limited, said: “Our diverse and robust business model has led to a sustained growth momentum, primarily driven by our strategic decision to enhance product offering coupled with high customer demand. These efforts have enabled us to achieve a 24% increase in operating revenues year-over-year.

Our global geographical outreach helped us to secure new orders and further strengthen the order book. In the first nine months of FY23, we won contracts worth Rs 77,470 lakh from 8 contracts spanning various geographies including North America & Europe.

As of December 31, 2022, we have reduced our gross debt by 23% and it currently stands at Rs 1,28,689 lakh. We will continue to focus on reducing debt with the goal to become net debt-free by FY25.

The commercial vehicle segment has seen steady growth following the festive season, due to high utilization of fleets resulting from increased economic and infrastructure activity. The momentum is expected to continue, and the overall commercial vehicle market is predicted to remain strong. Also, with the acquisition of Tsuyo & JMT Auto, we plan to expand and diversify our Company, resulting in increased scale and market reach. Our efforts are focused on customer-centric approach to offer advanced and value-added products across the globe and maintain our strong market share.”

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Investment recommendation

Call Date

20 Feb 2023

Entry Price


Target Price



12-18 Month



Operating Profit

Profit after Tax


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Operating Profit

Profit after Tax




Ramkrishna Forgings Ltd Stocks COMPARISION


Equity Capital: 1,078.39 Cr FV: 2.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 9,527.59 7,252.76
LAST 3M 42,415.10 -9,114.21
LAST 6M 72,085.06 4,510.60
LAST 12M 156,258.18 -37,934.40

Ramkrishna Forgings Ltd Information

Stock PE (TTM)


Promoter Holding


Book Value







  • Ramkrishna Forgings Ltd is an India-based company. The company is engaged in the manufacture of screw couplings, draw gear assembly, snubber assembly, hanger, block hanger side frame key and various other forgings items of railway coaches and wagon. They manufacture and supply of open, and closed plain carbon and low alloy steel forgings in the as- Forged, Heat Treated and Machined condition for Railways, Automobile and General Engineering Purposes. 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 11, 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.

Registered Address

23 Circus Avenue, , Kolkata, West Bengal, 700017

Tel : 91-33-39840900
Email : neha.gupta:ramkrishnaforgings.com
Website : http://www.ramkrishnaforgings.com


Karvy Computershare Pvt Ltd

AGM Date (Month) : Sep
Face Value Equity Shares : 2
Market Lot Equity Shares : 1
BSE Code : 532527
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 Mar 21, 2023 04:01 PM the closing price of Ramkrishna Forgings Ltd was ₹ 271.10.

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 Mar 21, 2023 04:01 PM, the market cap of Ramkrishna Forgings Ltd stood at ₹ 4,334.62.

The latest PE ratio of Ramkrishna Forgings Ltd as of Mar 21, 2023 04:01 PM is 16.38

The latest PB ratio of Ramkrishna Forgings Ltd as of Mar 21, 2023 04:01 PM is 0.27

The 52-week high of Ramkrishna Forgings Ltd is ₹ 290.55 while the 52-week low is ₹ 145.50

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

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