Ramkrishna Forgings Limited has informed the Exchange that Record date for the purpose of Dividend is 06-Jun-2025.
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Awaiting price reaction for this filing.
Ramkrishna Forgings' board declared a 2nd interim dividend of Re. 1.00 per equity share (face value Rs. 2) for FY25, with the record date fixed as Friday, 6 June 2025. The board also approved the audited FY25 results, but statutory auditors S.R. Batliboi & Co. and S.K. Naredi & Co. issued a Modified Opinion after an external fact-finding review found erroneous entries and unrecorded rejections at plants led to an overstatement of WIP/Raw Material/Scrap inventory of Rs. 220.52 crore in FY25 and Rs. 50.22 crore in FY24. The net adverse impact on net worth is about Rs. 202.60 crore (roughly 6.73% of net worth as on 31 March 2025). Separately, the board approved issuing up to 9,75,000 convertible warrants to promoter Riddhi Portfolio Private Limited at Rs. 2,100 per warrant (about 2.95x the SEBI floor price of Rs. 712.34), aggregating Rs. 204.75 crore, subject to EGM approval on 28 June 2025. The 43rd AGM is set for 30 August 2025.
The Rs. 202.60 crore inventory-related hit to net worth and the modified audit opinion are negatives that could pressure sentiment, though management says no further material impact is expected from the ongoing review. The promoter's Rs. 204.75 crore warrant subscription at a substantial premium to floor price signals confidence, while the Re. 1 dividend remains modest.