Ramkrishna Forgings Limited has informed the Exchange regarding Board meeting held on August 01, 2025.
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Ramkrishna Forgings reported Q1 FY26 (quarter ended June 30, 2025) results alongside several board approvals. Standalone revenue from operations rose about 8% year-on-year to ₹936.7 crore (from a restated ₹866.3 crore), but profit after tax fell sharply by about 49% to ₹21.5 crore (from ₹42.5 crore restated). On a consolidated basis, revenue grew nearly 6% to ₹1,015.3 crore, while profit after tank collapsed by about 78% to ₹11.8 crore (from ₹54.7 crore), pulled down by higher depreciation, finance costs and a share of loss from the Titagarh rail wheels joint venture. EPS stood at ₹0.65 (consolidated) versus ₹3.03 a year ago. Auditors issued an unmodified review opinion but flagged two emphasis-of-matter items: restatement of prior-year numbers due to inventory discrepancies in work-in-progress (not due to fraud) and excess managerial remuneration of ₹6.93 crore pending shareholder ratification. The board also re-appointed Singhi & Co. as internal auditors, re-appointed Mr. Lalit Kumar Khetan as Whole-time Director for three years, rescheduled the 43rd AGM to September 20, 2025, and appointed India Ratings as monitoring agency for the ₹9.75 lakh warrants preferential issue.
Earnings disappointment is the key takeaway, with consolidated PAT nearly halving on a year-on-year basis even as revenue inched up, raising concerns about margin pressure and joint venture drag. The auditor's emphasis of matter on inventory discrepancies and pending shareholder approval for excess director remuneration are governance items investors should track, though the restatement has already been absorbed and no further adjustments are required.