MarketFriction

Ramkrishna Forgings Ltd

NSE RKFORGE · BSE 532527 · Auto Components & Equipments
₹695.45 -0.98%
NSE close2026-10-01
52 week range460.15 - 772.80
Market cap₹13,262 Cr.
P/E115
Nifty 500Smallcap 250 Price band 20% Delivery 43.4%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales8999969749591,0541,0749471,0159081,0991,2171,217
Expenses6997767867918889488498737909361,014999
Operating Profit20022018816916512698142118162203218
OPM %22%22%19%18%16%12%10%14%13%15%17%18%
Other Income7419118441146-923
Interest383934363942494953515757
Depreciation616872626064858080848899
Profit before tax1091171008015124-2417-10185965
Tax %24%25%34%32%7%12%-945%32%-8%25%5%28%
Net Profit828766551402120012-10145647
EPS in Rs5.004.803.663.037.721.1611.040.65-0.520.753.082.57
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales9089211,4911,9311,2161,2892,3203,1933,7054,0344,2384,440
Expenses7277581,2021,5451,0081,0651,8022,4992,9313,4743,6113,739
Operating Profit181163289386209224518694774561627701
OPM %20%18%19%20%17%17%22%22%21%14%15%16%
Other Income274365143610922
Interest55787384808197122147167212219
Depreciation537585121121117169202257271333353
Profit before tax7517135184153225337440623184131
Tax %27%33%30%35%34%35%22%34%28%-80%15%
Net Profit551195120102119824829141572107
EPS in Rs3.810.785.827.360.591.2912.3615.5216.1122.933.955.88
Dividend Payout %11%26%3%4%0%0%14%13%12%9%25%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth17%27%10%9%
Compounded Profit Growth4%30%-32%-60%
Stock Price CAGR26%27%4%32%
Return on Equity11%12%10%3%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital272929333333323232363636
Reserves3834424407268408438511,0461,2902,5983,0013,254
Borrowings7358829578459129931,2331,6181,3331,2072,1262,449
Other Liabilities2973324334524173615877851,0761,4221,3641,423
Total Liabilities1,4421,6851,8582,0562,2012,2302,7033,4813,7315,2626,5287,162
Fixed Assets5329471,0241,0761,1141,1751,2401,4731,6932,4282,9923,762
CWIP31635504413021927612991216498337
Investments0000000550125190241
Other Assets5947027839369578361,1871,8231,9472,4922,8482,823
Total Assets1,4421,6851,8582,0562,2012,2302,7033,4813,7315,2626,5287,162
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity441041441272672541404374562133840
Cash from Investing Activity-272-169-107-110-254-231-222-354-299-1,117-912-929
Cash from Financing Activity21467-37-17-12-22147280-438625722235
Net Cash Flow-141-101165-318129-157146
Free Cash Flow-247-6734151327-91-25639035-932-39
CFO/OP45%66%91%52%81%125%63%17%117%99%30%136%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days1451361761269610316214089848868
Inventory Days169206227153131260252251228207230211
Days Payable150164298154110155248215199199197193
Cash Conversion Cycle1641781051251172081661761189112186
Working Capital Days-3-4-651620-164638541913
ROCE %11%10%7%14%16%5%6%15%19%17%7%6%
Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters43.15%43.17%43.17%43.17%43.16%43.12%43.12%43.12%43.12%43.33%43.39%39.82%
FIIs23.59%24.54%23.76%24.26%24.04%24.48%24.45%22.71%21.05%21.75%20.43%17.30%
DIIs3.62%3.69%4.27%5.12%5.41%6.00%3.60%3.50%4.03%4.45%5.09%5.85%
Public29.58%28.53%28.72%27.43%27.37%26.27%28.70%30.55%31.69%30.37%30.90%36.84%
Others0.08%0.08%0.08%0.01%0.02%0.13%0.13%0.12%0.12%0.12%0.20%0.20%
No. of Shareholders85,63783,39696,22389,58595,35798,1421,13,6701,20,4951,19,6471,09,0271,05,8101,07,490

Fundamentals

Market Cap₹ 13,262 Cr.
Current Price₹ 715
Stock P/E115
Book Value₹ 181
ROCE5.60 %
ROE2.51 %
Dividend Yield0.14 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)9%
Compounded Profit Growth (TTM)-60%
Consolidated figures.
Valuation
Market capRs 12,619 Cr
Enterprise valueRs 14,905 Cr
P/E (TTM)118.05x
Price to book3.84x
Price to sales2.84x
EV / EBITDA21.20x
EV / EBIT42.55x
EV / sales3.36x
Price to cash flow15.03x
Earnings yield0.85%
Dividend yield0.14%
P/E, 3-year average64.85x
P/B, 3-year average3.98x
P/E, 5-year average45.14x
P/B, 5-year average3.54x
Profitability
Operating margin (excl. other income)14.79%
Operating margin (incl. other income)14.85%
EBITDA margin15.83%
Pre-tax margin2.96%
Net profit margin2.41%
Net margin, latest quarter3.85%
ROE2.27%
ROCE5.44%
ROA1.05%
ROE, 3-year average10.54%
ROCE, 3-year average10.44%
ROA, 3-year average4.86%
ROE, 5-year average14.50%
ROCE, 5-year average12.88%
ROA, 5-year average5.57%
ROIC (approx.)5.37%
Tax rate14.53%
Other income / net worth0.07%
Growth
Sales growth (latest year)5.06%
Profit growth (latest year)-82.70%
Sales CAGR, 3 years9.90%
Sales CAGR, 5 years26.88%
Profit CAGR, 3 years-33.86%
Profit CAGR, 5 years28.28%
Sales growth QoQ-0.01%
Profit growth QoQ-16.20%
Sales growth YoY (latest quarter)19.84%
Profit growth YoY (latest quarter)297.63%
Per share
EPS (TTM)Rs 5.89
EPS (latest year)Rs 3.96
EPS (latest quarter)Rs 2.58
EPS, 3-year averageRs 14.33
EPS, 5-year averageRs 14.18
Book value per shareRs 181.34
Sales per shareRs 244.67
Cash flow per shareRs 46.28
Free cash flow per shareRs -2.15
Dividend per share (latest year)Rs 1.00
Dividend per share, 3-year averageRs 1.67
Dividend per share, 5-year averageRs 1.74
Dividends
Dividend payout25.26%
Dividend payout, 3-year average15.47%
Dividend payout, 5-year average14.60%
Efficiency
Asset turnover0.59x
Fixed asset turnover1.13x
Inventory turnover2.39x
Inventory days153 days
Debtor days68 days
Debtors turnover5.33x
Creditor days193 days
Cash conversion cycle86 days
Working capital days13 days
Leverage
Total debtRs 2,449 Cr
Cash and bankRs 163 Cr
Net debtRs 2,286 Cr
Debt to equity0.74x
Net debt / EBITDA3.25x
Interest coverage1.60x
Current ratio (filing 2026-03-31)1.15x
Quick ratio (filing 2026-03-31)0.56x
Trade payables (filing 2026-03-31)Rs 1,145 Cr
Owners' fund to total sources45.94%
Debt to assets34.19%
Cash flow
Cash from Operating Activity (latest year)Rs 840 Cr
Cash from Investing Activity (latest year)Rs -929 Cr
Cash from Financing Activity (latest year)Rs 235 Cr
Net Cash Flow (latest year)Rs 146 Cr
Free cash flow (latest year)Rs -39 Cr
FCFE (approx.: FCF + change in debt)Rs 283 Cr
Cash from ops / profit, 5 years1.86x
Sales to cash flow5.05x
Statement figures
Net sales (TTM)Rs 4,440 Cr
Net sales (latest year)Rs 4,238 Cr
Sales (latest quarter)Rs 1,217 Cr
Operating profit excl. other income (latest year)Rs 627 Cr
Operating profit (latest quarter)Rs 218 Cr
Other income (TTM)Rs 2 Cr
EBITDA (TTM)Rs 703 Cr
PBDT (TTM)Rs 484 Cr
Profit before tax (TTM)Rs 131 Cr
Tax (latest year)Rs 12 Cr
Net profit (TTM)Rs 107 Cr
Net profit (latest year)Rs 72 Cr
Net profit (latest quarter)Rs 47 Cr
Depreciation (TTM)Rs 353 Cr
Depreciation (latest quarter)Rs 99 Cr
Interest (TTM)Rs 219 Cr
Cost of goods sold (latest year)Rs 2,987 Cr
Total expenditure (latest year)Rs 3,611 Cr
Total income (latest year)Rs 4,240 Cr
Share capitalRs 36 Cr
ReservesRs 3,254 Cr
Shareholders' fundsRs 3,290 Cr
Total assetsRs 7,162 Cr
Net blockRs 3,762 Cr
Capital work in progressRs 337 Cr
InvestmentsRs 241 Cr
ReceivablesRs 795 Cr
InventoryRs 1,249 Cr
Other liabilitiesRs 1,423 Cr
Shares outstanding (crore)18.14
Ownership
Promoter holding39.82% (-3.30 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 118.0 is at the 66th percentile of its own 9.4-year range (median 50.3, low 4.6, high 278.2).
P/B 3.84 is at the 53th percentile (median 3.57).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodRKFORGENifty 50Difference
1 week-2.0%-2.8% +0.8 pts
1 month-7.7%-6.8% -0.9 pts
3 months+20.5%-7.6% +28.1 pts
6 months+49.0%+0.4% +48.6 pts
1 year+28.8%-9.9% +38.8 pts
2 years-31.6%-13.6% -18.0 pts
3 years+8.0%+14.2% -6.1 pts
5 years+219.4%+27.9% +191.5 pts
32 mutual fund schemes hold about ₹240 Cr. Over three months 29 bought more and 1 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Old Bridge Focused Fund4.80%192 -8%
Nippon India Nifty Smallcap 250 Index Fund0.35%12 +6%
The Wealth Company Flexi Cap Fund2.58%6 +100%
SBI Nifty Smallcap 250 Index Fund0.35%6 +5%
ITI Bharat Consumption Fund1.32%5 +21%
Motilal Oswal Nifty Smallcap 250 Index Fund0.35%4 +5%
ICICI Pru Nifty Smallcap 250 Index Fund0.35%3 +6%
HDFC NIFTY Smallcap 250 Index Fund0.35%3 +6%
Nippon India Nifty 500 Equal Weight Index Fund0.27%1 +11%
JioBlackRock Nifty Smallcap 250 Index Fund0.35%1 +6%
Motilal Oswal Nifty 500 Index Fund0.04%1 +9%
The Wealth Company Balanced Advantage Fund2.26%1 +100%
Edelweiss Nifty Smallcap 250 Index Fund0.35%1 +6%
Groww Nifty Smallcap 250 Index Fund0.35%0 +5%
HDFC Nifty500 Multicap 50:25:25 Index Fund0.09%0 +6%
Bandhan Nifty Smallcap 250 Index Fund0.35%0 +5%
Kotak Nifty Smallcap 250 Index Fund0.35%0 +5%
SBI Nifty 500 Index Fund0.04%0 +9%
Groww Nifty Total Market Index Fund0.04%0 +7%
Axis Nifty 500 Index Fund0.04%0 +9%
HDFC BSE 500 Index Fund0.04%0 +2%
DSP Nifty Smallcap 250 Index Fund0.34%0 +5%
ICICI Pru Nifty 500 Index Fund0.04%0 +9%
UTI Nifty 500 Index Fund0.04%0 +100%
Zerodha Nifty MidSmallcap400 50:50 Index Fund0.17%0 +9%

Red flags

F-score 5 of 8
explainLow interest cover Interest cover 1.4x in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2026-09-24Chaitanya JalanPromoter groupbuy3,400,000SAST Preferential Allotm
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹1,217 Cr +19.9% vs Jun 2025. Net profit ₹47 Cr +291.7%.
Against our estimate for Jun 2026: sales +3.9%, profit +226.7% in line. Our estimate for Sep 2026: sales Rs 1,128 Cr, profit Rs 29 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-05-08Interim Dividend - Re 1 Per Share
2025-06-06Interim Dividend - Re 1 Per Share
2024-10-31Interim Dividend - Re 1 Per Share
2024-08-23Annual General Meeting
2024-05-10Interim Dividend - Re 1 Per Share
2023-10-30Interim Dividend - Re 1 Per Share
2023-09-08Annual General Meeting
2023-05-09Interim Dividend - Re 0.50 Per Share
2023-01-31Interim Dividend - Re 0.50 Per Share
2022-11-01Interim Dividend - Rs 0.50 Per Share
2022-09-08Annual General Meeting/Dividend - Rs 0.20 Per Share
2022-07-28Interim Dividend- Rs 0.50 Per Share
2022-03-14Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 2/- Per Share0.2000
2022-01-28Interim Dividend - Rs 0.50 Per Share
2021-10-21 Interim Dividend - Rs 0.50 Per Sh
2021-09-16 Annual General Meeting
2021-08-05 Interim Dividend - Re 0.50 Per Share
2020-09-10 Annual General Meeting
2019-08-29 Dividend - Rs 1.50 Per Share
2018-09-12 Annual General Meeting/Dividend Re 1/- Per Share
2017-09-07 Annual General Meeting/Dividend - Re 1/- Per Share
2016-09-15 Dividend - Rs 2/- Per Share
2015-09-03 Annual General Meeting/ Dividend - Rs 2/- Per Share
2014-06-05Annual General Meeting / Dividend - Re 1/- Per Share
2013-07-11Annual General Meeting/Dividend Re 1/- Per Share
2012-07-19Annual General Meeting/Dividend Of Rs. 2 Per Share
2011-06-20Annual General Meeting / Dividend - Rs.2/- Per Share
2010-07-29Annual General Meeting And Dividend Re.1/- Per Share
2009-08-13Annual General Meeting
2008-08-21Agm/Dividend - 10%
2007-09-05Agm/Dividend-10%
2006-08-31Agm
DateTypeWhat it says
2026-09-29General UpdatesGrant of ESOPs under RKF Limited Employee Stock Option Scheme 2023 to the eligible employees of the Company
2026-09-24AllotmentAllotment of 3400000 equity shares pursuant to exercise of conversion of warrants allotted on Preferential basis at its meeting held on September 24, ...
2026-09-23Concall / analyst meetRamkrishna Forgings Limited has informed the exchange that the management of the Company will virtually attend "Bharat Connect 2026 - Rising Stars" co...
2026-09-22General UpdatesAnnouncement Under Regulation 30 (LODR)-ESG Rating
2026-09-21General UpdatesDisclosure under Regulation 30 and 31A of SEBI LODR Regulations, 2015 with respect to Re-classification of MAA Chandi Financial Advisory Services Priv...
2026-09-21Shareholder meetingVoting results.
2026-09-18General UpdatesAnnouncement Under Regulation 30 (LODR)-ESG Rating
2026-09-16Concall / analyst meetIntimation of schedule of Analysts/Institutional Investors Meet.
2026-09-15Concall / analyst meetSchedule of Plant visit by Institutional Investor/Analyst.
2026-09-11Concall / analyst meetSchedule of meet
2026-09-08General UpdatesAnnouncement Under Regulation 30 (LODR)-ESG Rating
2026-09-05ESOPAllotment of 1200 Equity Shares pursuant to RKF Limited Employee Stock Option Scheme 2023 ( ESOP Scheme )
2026-08-31Shareholder meetingVoting Results.
2026-08-29Shareholder meetingProceedings of 44th Annual General Meeting held on August 29, 2026
2026-08-20Shareholder meetingNotice of Postal Ballot along with explanatory statement, seeking approval of the Members for reclassification of MAA Chandi Financial Advisory Servic...
2026-08-19UpdatesSubmission of Certificate from Statutory Auditor in terms of Regulation 169(5) of the Securities and Exchange Board of India (Issue of Capital and Dis...
2026-08-13UpdatesLetter to Shareholders whose email address are not registered providing web-link of Annual Report.
2026-08-06General UpdatesReceipt of No-Objection Letter for reclassification of a member of the promoter group of the Company from Promoter and Promoter Group category to P...
2026-08-05Shareholder meetingNotice of Annual General Meeting to be held on August 29, 2026
2026-07-30Concall / analyst meetQ1 & FY27 Earnings Call Transcript
2026-07-27Press ReleaseA press release dated July 27, 2026, titled "Q1 FY27 Earnings Release".
2026-07-25Concall / analyst meetLink of Recording
2026-07-24UpdatesStatement of Deviation for the quarter ended 30 June 2026.
2026-07-24Investor PresentationInvestor Presentation
2026-07-24Monitoring Agency ReportPlease find attached Monitoring Agency Report for the quarter ended 30 June, 2026
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Scrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of Ramkrishna Forgings Ltd?

Ramkrishna Forgings Ltd (RKFORGE) has a market capitalisation of Rs 13,262 Cr. at the 2026-10-01 close.

What is the P/E ratio of Ramkrishna Forgings Ltd?

Ramkrishna Forgings Ltd trades at a P/E of 115 on trailing twelve-month profit, at the 2026-10-01 close.

What were Ramkrishna Forgings Ltd's latest quarterly results?

In the Jun 2026 quarter, Ramkrishna Forgings Ltd sales was Rs 1,217 Cr (+19.9% vs Jun 2025) and net profit was Rs 47 Cr.

What is the 52-week high and low of Ramkrishna Forgings Ltd?

The 52-week high is Rs 772.80 and the 52-week low is Rs 460.15.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03