RKFORGEAutomobile and Auto Components

Ramkrishna Forgings Limited

Auto Components & Equipments · ISIN INE399G01023 · BSE 532527 · NSE EQ · FV ₹2
Last price
₹705
+2.42%today
What this company does

Ramkrishna Forgings Limited operates in Auto Components & Equipments, part of the Automobile and Auto Components sector. It booked ₹1,217 cr of revenue in its latest quarter (Q1 FY27) and kept 3.9% 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:
37out of 100
Equitytale Health Score
Strained

Healthier than 37% of companies in Automobile and Auto Components, on all six measures of filed financials. Each measure is ranked against the 9–48 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)
51

At close. Not part of the score.

Profitability & returns13

How much profit it earns on the money it employs

Balance sheet18

How much it owes, and whether earnings cover the interest

Cash quality78

Whether reported profit actually arrives as cash

Growth & consistency57

Whether sales and profit have grown, and how steadily

Valuation37

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 20% vs last year
Profit up 298% vs last year
Promoters hold 43%
Watch-outs
! Thin 3.9% net margin
! 15.6% of promoter stake pledged
! Low 5.7% return on equity
! Operating cash flow is negative

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 We do not publish price targets or predict returns.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
₹705 +2.42%
latest close · 2026-09-17
52-wk low ₹146115 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 ratio68.4High
LowAverageHigh
P/B ratio3.90High
Below bookModerateHigh
EV / EBITDA16.9High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity5.7%Weak
WeakFairStrong ▸15%
Return on capital9.7%Fair
WeakFairStrong
Net margin3.9%Thin
ThinDecentStrong
EBITDA margin18.2%Decent
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.71Moderate
LowModerateHigh ▸1
Interest cover2.1×Okay
RiskyOkayStrong ▸5×
Current ratio1.15Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹12,829 cr
Book value
₹181
EPS
₹2.58
latest quarter
Net debt
₹2,173 cr
owes more than its cash
Enterprise value
₹15,001 cr
EBITDA
₹888 cr
annualised
EBIT
₹490 cr
annualised
Operating margin
10.1%
Return on assets
2.6%
Earnings yield
1.46%
P/S
2.64
Sales / share
₹267.6
Tax rate
27.3%
Face value
₹2
Shares
18.2 cr
Working capital
₹316 cr
Current assets
₹2,448 cr
Current liabilities
₹2,132 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 2026-09-17.

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 ₹163₹235, midpoint ₹199

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 · Q1 FY27 (consolidated)
Revenue from Operations₹1,217 cr
Other Income₹3 cr
Total Income₹1,220 cr
Cost of Materials₹631 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹-72 cr
Employee Benefit Expense₹75 cr
Finance Costs₹57 cr
Depreciation & Amortisation₹99 cr
Other Expenses₹364 cr
Total Expenses₹1,155 cr
Profit before Tax₹65 cr
Tax Expense₹18 cr
Share of JV / Associates₹-61 L
Net Profit₹47 cr
Net margin on total income3.8%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹559 cr45.8%
Employee benefit expense₹75 cr6.2%
Finance costs₹57 cr4.7%
Depreciation & amortisation₹99 cr8.2%
Other expenses₹364 cr29.8%
Tax expense₹18 cr1.5%
Profit for the period₹47 cr3.8%
Total income ₹1,220 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue1,099 cr1,217 cr1,217 cr
Total income1,100 cr1,219 cr1,220 cr
Expenses1,071 cr1,154 cr1,155 cr
Profit before tax19 cr64 cr65 cr
Tax5 cr3 cr18 cr
Net profit (owners' share)14 cr56 cr47 cr
Net margin (owners' share, on revenue)1.2%4.6%3.9%
EPS (₹)0.753.092.58
YoY (latest quarter): total income +19.7% · net profit +297.7%
Balance sheet & cash flow · as of Mar 2026
Moderate debt
Total assets
₹7,178 cr
Shareholder equity
₹3,290 cr
parent shareholders
Total debt
₹2,335 cr
Cash
₹162 cr
Cash flow · H1 FY26
Operating
₹-5 cr
Investing
₹-482 cr
Financing
₹508 cr
Peer comparison
Auto Components & Equipments · by market value
CompanyPriceMarket capP/E
Samvardhana Motherson International Limited₹162₹1.71 L cr41.3
Bosch Limited₹47,735₹1.41 L cr49.8
Bharat Forge Limited₹1,919₹91,740 cr
UNO Minda Limited₹1,205₹69,583 cr58.8
Schaeffler India Limited₹3,991₹62,379 cr48.0
Tube Investments of India Limited₹2,599₹50,313 cr74.6
Sona BLW Precision Forgings Limited₹778₹48,388 cr67.1
Endurance Technologies Limited₹2,691₹37,849 cr38.7
Exide Industries Limited₹419₹35,581 cr25.4
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 · 2026-06-30
15.6% pledged
Promoter
43.4%
FII / Foreign
20.4%
DII / Domestic
5.1%
Retail / others
30.9%
Promoter stake up 0.3% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtRiddhi Portfolio Pvt. Ltd. · Promoters6.40 L · ₹134.4 cr27 Mar 26
SoldNARESH JALAN · Promoters17.50 L · ₹86.5 cr25 Mar 26
BoughtRiddhi Portfolio Pvt. Ltd. · Promoters17.50 L · ₹86.8 cr25 Mar 26
Bulk / block deals
short · NSE53515 Sep 26
short · NSE10010 Sep 26
short · NSE510 Aug 26
Stake changes
SoldSMALLCAP World Fund, Inc.→ 4.46% · 45.63 L15 Jul 26
SoldSMALLCAP World Fund, Inc.→ 4.47% · 45.63 L15 Jul 26
BoughtRiddhi Portfolio Private Limited · promoter→ 34.74% · 3.35 L9 Jun 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.

Yearly shareholder meeting · 29 Aug 2026
See the official result
1
Adoption of Audited Financial Statements (Standalone and Consolidated) of the Company for the financial year ended 31st March, 2026.
Backed by 100% of shareholders other than promotersneeded 50%
4.66 cr votes for, 2,200 against · 0% of mutual funds and other big investors said no
2
Approval for Re-appointment of Mr. Chaitanya Jalan (DIN: 07540301), Director liable to retire by rotation
Backed by 81% of shareholders other than promotersneeded 50%
3.79 cr votes for, 87.19 L against · 34% of mutual funds and other big investors said no
3
Approval for Re-appointment of Mr. Milesh Gandhi (DIN: 07436442), Director liable to retire by rotation
Backed by 100% of shareholders other than promotersneeded 50%
4.65 cr votes for, 1.09 L against · 0% of mutual funds and other big investors said no
4
Approval for Ratification of Remuneration of Cost Auditors for the Financial Year ending 31 March, 2027
Backed by 100% of shareholders other than promotersneeded 50%
4.66 cr votes for, 2,505 against · 0% of mutual funds and other big investors said no
6
Approval for payment of excess remuneration to the Directors of the Company for the financial year 2025-26
⚑ Passed only because promoters voted yesPromoters had a personal stake in this
Backed by 67% of shareholders other than promotersneeded 75%
3.10 cr votes for, 1.56 cr against · 61% 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 — 10 named members
owning 43.4% between them · as of 2026-06-30
RIDDHI PORTFOLIO PRIVATE LIMITED34.74%
MAA CHANDI FINANCIAL ADVISORY SERVICES PRIVATE LIMITED3.57%
CHAITANYA JALAN1.67%
NARESH JALAN1.52%
RASHMI JALAN1.15%
NARESH JALAN HUF0.74%
RADHIKA JALAN0.01%
MAHABIR PRASAD JALANno shares
Business done with them
FY2025 · 1 of the group
The company paid ₹4 L to companies in the promoter group last year — about 0.0% of its ₹4,034 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.

₹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
₹101 cr raised in Mar 2026 by selling shares to selected investors

As of Mar 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%
₹101 cr of ₹101 cr
General Corporate Purpose
₹0 cr of ₹0 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.