RKFORGEAutomobile and Auto Components

Ramkrishna Forgings Limited

Auto Components & Equipments · ISIN INE399G01023 · BSE 532527 · NSE EQ · FV ₹2
Last price
₹697
+0.82%today
What this company does

Ramkrishna Forgings Limited operates in Auto Components & Equipments, part of the Automobile and Auto Components sector. It booked ₹1,405 cr of revenue in its latest quarter (Q2 FY27) and kept 5.0% of sales as profit.

“The Company is primarily engaged in manufacturing Historical cost convention and sale of forged components of automobiles, railway These standalone financial statements have been wagons & coach and engineering parts.”
In the report:
40out of 100
Equitytale Health Score
Strained

Healthier than 40% of companies in Automobile and Auto Components, on all six measures of filed financials. Each measure is ranked against the 10–52 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
54

At close. Not part of the score.

Profitability & returns19

How much profit it earns on the money it employs

Balance sheet21

How much it owes, and whether earnings cover the interest

Cash quality78

Whether reported profit actually arrives as cash

Growth & consistency56

Whether sales and profit have grown, and how steadily

Valuation46

What today's price implies, against our models or its peers

Governance & risk40

How much of the promoters' stake is pledged, and how much they hold

Is this company doing well?
not investment advice
Strengths
✓ Makes a profit
✓ Sales up 55% vs last year
✓ Promoters hold 41%
✓ Turns profit into real cash
Watch-outs
! Thin 5.0% net margin
! 16.2% of promoter stake pledged
! Low 7.9% return on equity

What if I invest in RKFORGE?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹697▲ +0.82%
latest close · 2026-11-04
52-wk low ₹146147 sessions so far52-wk high ₹773
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio44.9High
LowAverageHigh
P/B ratio3.59High
Below bookModerateHigh
EV / EBITDA14.4Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity7.9%Weak
WeakFairStrong ▸15%
Return on capital11.4%Fair
WeakFairStrong
Net margin5.0%Decent
ThinDecentStrong
EBITDA margin18.5%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.61Moderate
LowModerateHigh ▸1
Interest cover2.6×Okay
RiskyOkayStrong ▸5×
Current ratio1.30Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹12,910 cr
Book value
₹194
EPS
₹3.88
latest quarter
Net debt
₹2,093 cr
owes more than its cash
Enterprise value
₹15,004 cr
EBITDA
₹1,039 cr
annualised
EBIT
₹628 cr
annualised
Operating margin
11.2%
Return on assets
3.7%
Earnings yield
2.23%
P/S
2.30
Sales / share
₹303.5
Tax rate
26.1%
Face value
₹2
Shares
18.5 cr
Working capital
₹660 cr
Current assets
₹2,888 cr
Current liabilities
₹2,229 cr
Delivery %
47.9%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-11-04.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹175–₹204, midpoint ₹190

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q2 FY27 (consolidated)
Revenue from Operations₹1,405 cr
Other Income₹4 cr
Total Income₹1,410 cr
Cost of Materials₹691 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-29 cr
Employee Benefit Expense₹78 cr
Finance Costs₹62 cr
Depreciation & Amortisation₹103 cr
Other Expenses₹409 cr
Total Expenses₹1,313 cr
Exceptional Items₹-68 L
Profit before Tax₹95 cr
Tax Expense₹25 cr
Net Profit₹71 cr
Net margin on total income5.0%
Where the money goes · Q2 FY27
% of total income
Materials + stock-in-trade₹662 cr47.0%
Employee benefit expense₹78 cr5.5%
Finance costs₹62 cr4.4%
Depreciation & amortisation₹103 cr7.3%
Other expenses₹409 cr29.1%
Tax expense₹25 cr1.8%
Profit for the period₹71 cr5.0%
Total income ₹1,410 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ4 FY26Q1 FY27Q2 FY27
Revenue1,217 cr1,217 cr1,405 cr
Total income1,219 cr1,220 cr1,410 cr
Expenses1,154 cr1,155 cr1,313 cr
Profit before tax64 cr65 cr95 cr
Tax3 cr18 cr25 cr
Net profit (owners' share)56 cr47 cr71 cr
Net margin (owners' share, on revenue)4.6%3.9%5.0%
EPS (₹)3.092.583.88
YoY (latest quarter): total income +54.3% · net profit —
Balance sheet & cash flow · as of Sep 2026
Moderate debt
Total assets
₹7,729 cr
Shareholder equity
₹3,595 cr
parent shareholders
Total debt
₹2,193 cr
Cash
₹100 cr
Cash flow · H1 FY27
Operating
₹482 cr
Investing
₹-448 cr
Financing
₹-96 cr
Peer comparison
Auto Components & Equipments · by market value
CompanyPriceMarket capP/E
Samvardhana Motherson International Limited₹160₹1.69 L cr40.8
Bosch Limited₹49,645₹1.46 L cr51.8
Bharat Forge Limited₹1,777₹84,979 cr—
UNO Minda Limited₹1,125₹64,934 cr54.9
Sona BLW Precision Forgings Limited₹900₹56,172 cr62.8
Schaeffler India Limited₹3,525₹55,091 cr39.5
Tube Investments of India Limited₹2,190₹42,398 cr62.9
Endurance Technologies Limited₹2,410₹33,898 cr34.7
Exide Industries Limited₹346₹29,431 cr21.0
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.14%
trailing 12 months
Dividend / share (TTM)
₹1
Last dividend
₹1
ex 8 May 2026
ActionDetailEx-date
Dividend₹1 / share8 May 2026
Dividend₹1 / share6 Jun 2025
Dividend₹1 / share31 Oct 2024
Dividend₹1 / share10 May 2024
Dividend₹1 / share30 Oct 2023
Dividend₹0.5 / share9 May 2023
Who owns it · 2026-09-30
⚑ 16.2% pledged
Promoter
40.9%
FII / Foreign
17.1%
DII / Domestic
5.7%
Retail / others
36.1%
Promoter stake down 2.2% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtMr. Chaitanya Jalan · Promoter and Director34.00 L · ₹199.9 cr24 Sep 26
BoughtMr. Chaitanya Jalan · Promoter and Director34.00 L · ₹199.9 cr24 Sep 26
BoughtRiddhi Portfolio Pvt. Ltd. · Promoters6.40 L · ₹134.4 cr27 Mar 26
Bulk / block deals
short— · NSE121 Oct 26
short— · NSE53515 Sep 26
short— · NSE10010 Sep 26
Stake changes
BoughtChaitanya Jalan · promoter→ 3.47% · 34.00 L24 Sep 26
BoughtChaitanya Jalan · promoter→ 3.47% · 34.00 L24 Sep 26
SoldSMALLCAP World Fund, Inc.→ 4.46% · 45.63 L15 Jul 26
Promoter pledges
PledgedTata Capital Ltd65.00 L · 2.49% held19 Sep 25
PledgedTata capital Ltd1.00 L · 0.66% held18 Sep 25
PledgedTata Capital Limited45.00 L · 0.00% held12 Aug 25
What shareholders were asked to approve
2 proposals passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 19 Sep 2026
See the official result
1
RECLASSIFICATION OF MAA CHANDI FINANCIAL ADVISORY SERVICES PRIVATE LIMITED (FORMERLY RAMKRISHNA RAIL AND INFRASTRUCTURE PRIVATE LIMITED), A MEMBER OF PROMOTER GROUP, FROM ‘PROMOTER AND PROMOTER GROUP’ CATEGORY TO ‘PUBLIC’ CATEGORY.
Promoters had a personal stake in this
Backed by 83% of shareholders other than promotersneeded 50%
3.53 cr votes for, 71.18 L against · 30% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 9 named members
owning 40.9% between them · as of 2026-09-30
RIDDHI PORTFOLIO PRIVATE LIMITED34.10%
CHAITANYA JALAN3.47%
NARESH JALAN1.49%
RASHMI JALAN1.13%
NARESH JALAN HUF0.72%
RADHIKA JALAN0.01%
MAHABIR PRASAD JALANno shares
MAHABIR PRASAD JALAN HUFno shares
Business done with them
FY2026 · 1 of the group
The company paid ₹4 L to companies in the promoter group last year — about 0.0% of its ₹4,238 cr revenue.
Mahabir Prasad Jalan
Other payments to them · Refer Disclosure of notes on related party explanatory [Text Block]
₹4 L
company paid

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹150 cr raised in Sep 2026 by selling shares to selected investors

As of Sep 2026, the company says it has spent 100% of what it set aside. India Ratings & Research Private Limited watches the spending on the exchange’s behalf.

Working Capital Repayment: Repayment of Working Capital Loans including Working Capital Demand Loans together with Interest payments thereof, in part or full, availed by the Company
100%
₹100 cr of ₹100 cr
General Corporate Purpose: Upto 25% of Issue proceeds will be utilised for General Corporate purpose
100%
₹50 cr of ₹50 cr
₹53 cr raised in Jun 2026 by selling shares to selected investors

As of Jun 2026, the company says it has spent 100% of what it set aside. India Ratings & Research Private Limited watches the spending on the exchange’s behalf.

Working Capital Repayment: Repayment of Working Capital Loans including Working Capital Demand Loans together with Interest payments thereof, in part or full, availed by the Company
100%
₹2 cr of ₹2 cr
General Corporate Purpose: Upto 25% of Issue proceeds will be utilised for General Corporate purpose
100%
₹51 cr of ₹51 cr

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.