Ramkrishna Forgings Limited has informed the Exchange that Board of Directors at its meeting held on May 31, 2025, declared Interim Dividend of Rs. 1.00 per equity share.
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Awaiting price reaction for this filing.
The Board of Ramkrishna Forgings approved audited FY25 results, which came with a modified auditor opinion after an internal probe found erroneous inventory entries that overstated WIP/Raw Material/Scrap stock by about Rs. 220.5 crore (FY25) and Rs. 50.2 crore (FY24), reducing net worth by roughly Rs. 202.6 crore (6.73%). The Board declared a 2nd interim dividend of Rs. 1.00 per share (face value Rs. 2), with a record date of 6 June 2025 and payment within 30 days. It also approved issuing up to 9,75,000 convertible warrants to promoter entity Riddhi Portfolio Pvt Ltd at Rs. 2,100 per warrant, aggregating Rs. 204.75 crore, priced about 2.95 times the SEBI floor price. An EGM is scheduled for 28 June 2025 to seek shareholder approval for the warrant issue.
The dividend is modest (Rs. 1 on a stock trading around Rs. 2,100, giving a yield well under 1%), so it is more a token signal than a return driver. The promoter-led preferential infusion at a premium of nearly 3x the floor price is a confidence signal, but the Rs. 202.6 crore hit to net worth from past inventory misstatements is a clear negative that warrants attention from shareholders.