Ramkrishna Forgings Limited has informed the Exchange about Transcript
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Ramkrishna Forgings reported Q1 FY26 consolidated revenue of Rs. 1,015 Crores, up 6% year-on-year, but profit took a major hit — PAT fell to just Rs. 12 Crores from Rs. 55 Crores a year ago, and EBITDA margin dropped 300 basis points to 14.6%. Management attributed roughly Rs. 52 Crores of one-time/operational drag, including Rs. 40 Crores from lower steel realisations and export-domestic mix, Rs. 6.66 Crores forex loss in the rail wheels JV, and Rs. 5 Crores from imported machinery. Adjusted PAT would have been closer to Rs. 57–58 Crores. The company won new orders worth Rs. 660 Crores in Q1, with 47% from passenger vehicles, and received approval to supply fully assembled undercarriages to Indian Railways (Rs. 50–75 Crores this year, Rs. 300+ Crores next year). Net debt stands at Rs. 1,800 Crores, with the CFO guiding a Rs. 300–400 Crores reduction by FY26-end, supported by promoter warrant infusion of Rs. 200+ Crores.
Short-term sentiment may stay weak given the sharp PAT decline, but management firmly guided that the EBITDA margin bottom is behind them, with a gradual recovery expected over the next 3-4 quarters. Order wins, debt reduction, and promoter warrant support could provide a floor for the stock once tariff-related uncertainty clears.