Ramkrishna Forgings Limited (RKFORGE) Financial Results — Revenue ₹1,216.78 Cr

Revenue: ₹1,216.78 CrNet Profit: ₹64.33

📢 Key Event
Ramkrishna Forgings reported strong Q4 FY26 results with revenue of ₹1,216.78 crores and EBITDA of ₹208.19 crores, up 28% and 111% YoY respectively.

🔄 What Changed
Revenue grew 28% YoY to ₹1,216.78 crores in Q4 FY26; EBITDA grew 111% YoY to ₹208.19 crores; profit before tax rose 117% QoQ to ₹64.33 crores; new orders for FY27 totaled ₹1,550 crores; casting capacity utilization target set at 85-90% by FY27 year-end; debt reduction target of ₹400-500 crores for FY27; trailer axle revenue to reach ₹250 crores in FY27; utilization in press segments to hit 85% by FY27 year-end; capex capped at ₹300-400 crores for FY27.

🔮 What's Next
FY27 revenue growth expected; casting capacity utilization target of 85-90% by FY27 year-end; debt reduction of ₹400-500 crores targeted; trailer axle revenue to reach ₹250 crores with 10% market share; utilization in press segments to hit 85% by FY27 year-end; capex capped at ₹300-400 crores for FY27; export mix to improve beyond current 40% volume share; utilization at 80%+ to improve margins by 100-150 bps if energy costs are passed on; no new capex plans for FY28 yet.

💡 Investor Takeaway
Strong order book and capacity utilization signal robust growth ahead, with margin expansion supported by operational efficiency and energy cost pass-through, while debt reduction targets enhance financial flexibility.

Ramkrishna Forgings reported Q4 FY26 revenue of ₹1,216.78 crores, up 28% YoY, with EBITDA surging 111% YoY to ₹208.19 crores and margin expanding to 17.1%. Full-year FY26 revenue reached ₹4,238 crores and EBITDA ₹642.70 crores, up 15% YoY. Profit before tax jumped 117% QoQ to ₹64.33 crores in Q4. The company secured ₹1,550 crores of new orders for FY27, including both forgings and castings, with casting capacity utilization targeted at 85-90% by FY27 year-end (65,000-70,000 tons capacity). Standalone casting operations commence March 31, FY26, and are expected to contribute ~₹400-500 crores in incremental revenue at 15-16% margins. Debt reduction of ₹400-500 crores is targeted for FY27. Trailer axle revenue grew to ₹120 crores in FY26 with plans to reach ₹250 crores and 10% market share in FY27. Utilization in press segments is expected to hit 85% by FY27 year-end. Capex for FY27 is capped at ₹300-400 crores, primarily for JV contributions and maintenance, with no new capex plans for FY28 yet. Export mix is expected to improve beyond current 40% volume share, enhancing margins. Utilization at 80%+ is projected to improve margins by 100-150 bps if energy costs are passed on.