Ramkrishna Forgings Limited — Investor Meet, 08-08-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Ramkrishna Forgings' Q1 FY26 consolidated revenue grew 6% YoY to Rs. 1,015 Cr, but PAT dropped to Rs. 12 Cr. This was primarily due to a Rs. 51 Cr impact from lower steel price realization, forex losses, and changes in export/domestic mix. Management believes this quarter represents the margin's trough, aiming for a gradual recovery to 20-21% consolidated EBITDA by Q4 FY26 or Q1 FY27. The company secured Rs. 660 Cr in new orders, emphasizing passenger vehicles and European markets. RK Forgings is bullish on aluminum forging and Indian Railways, with new undercarriage approvals and the Rail Wheels JV set to contribute significantly from FY27. Net debt is targeted to reduce by Rs. 300-400 Cr in FY26.