Ramkrishna Forgings Ltd (IN:RKFORGE)
:RKFORGE
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Ramkrishna Forgings Ltd
(RKFORGE)
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Rating:50Neutral
Price Target:
₹597.00
▲(20.19% Upside)
Action:ReiteratedDate:05/04/26
The score is held back primarily by weak and volatile cash generation (persistently negative free cash flow) alongside FY26 profitability deterioration and rising debt. Technicals are supportive with the stock trading above major moving averages and positive momentum, but valuation is a significant headwind given the very high P/E and low dividend yield.
Positive Factors
Stable demand from safety-critical OEM programs
Supplying safety-critical driveline, axle and suspension parts requires lengthy qualification and creates multi-year program supply relationships with OEMs. That structural customer stickiness provides recurring order visibility and reduces short-term demand volatility risk.
Negative Factors
Weak and volatile cash generation
Persistent negative free cash flow and swings in operating cash imply the business struggles to self‑fund capex and working capital. Over months to years this elevates reliance on external financing, constrains reinvestment or shareholder returns, and heightens execution risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Stable demand from safety-critical OEM programs
Supplying safety-critical driveline, axle and suspension parts requires lengthy qualification and creates multi-year program supply relationships with OEMs. That structural customer stickiness provides recurring order visibility and reduces short-term demand volatility risk.
Read all positive factors
Ramkrishna Forgings Ltd (RKFORGE) vs. iShares MSCI India ETF (INDA)
Market Cap
₹110.44B
Dividend Yield0.38%
Average Volume (3M)32.58K
Price to Earnings (P/E)37.8
Beta (1Y)1.31
Revenue Growth3.88%
EPS Growth-85.35%
CountryIN
Employees2,554
SectorIndustrials
Sector Strength72
IndustryManufacturing - Tools & Accessories
Share Statistics
EPS (TTM)8.10
Shares Outstanding181,030,610
10 Day Avg. Volume29,722
30 Day Avg. Volume32,581
Financial Highlights & Ratios
PEG Ratio-1.50
Price to Book (P/B)2.56
Price to Sales (P/S)1.99
P/FCF Ratio-30.86
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)21.6
Revenue Forecast (FY)₹41.22B
Ramkrishna Forgings Ltd Business Overview & Revenue Model
Company Description
Ramkrishna Forgings Limited manufactures and supplies open and closed die forgings of carbon and alloy steel, micro alloy steel, and stainless steel in India and internationally. It operates in two segments, Forging Components and Others. The comp...
How the Company Makes Money
RKFORGE makes money by manufacturing and selling forged (and value-added machined) components to original equipment manufacturers (OEMs) and tiered component suppliers. Its primary revenue stream is product sales: customers place orders for specif...
Ramkrishna Forgings Ltd Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
58
Neutral
Cash Flow
37
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 39.44B | 42.38B | 40.34B | 37.05B | 31.93B | 23.20B |
| Gross Profit | 16.01B | 12.37B | 17.64B | 15.92B | 13.75B | 9.90B |
| EBITDA | 3.67B | 6.43B | 5.39B | 7.64B | 6.98B | 5.16B |
| Net Income | 1.47B | 717.97M | 4.15B | 2.91B | 2.48B | 1.98B |
Balance Sheet | ||||||
| Total Assets | 68.87B | 71.78B | 65.57B | 53.08B | 37.30B | 34.84B |
| Cash, Cash Equivalents and Short-Term Investments | 753.58M | 1.66B | 290.49M | 2.28B | 555.92M | 1.21B |
| Total Debt | 27.22B | 24.49B | 21.26B | 12.07B | 13.33B | 16.33B |
| Total Liabilities | 38.19B | 38.88B | 35.20B | 26.24B | 24.09B | 24.05B |
| Stockholders Equity | 30.68B | 32.90B | 30.37B | 26.84B | 13.22B | 10.78B |
Cash Flow | ||||||
| Free Cash Flow | -4.90B | -2.73B | -11.06B | 319.24M | 3.89B | -2.57B |
| Operating Cash Flow | -53.92M | 6.50B | -1.29B | 6.21B | 7.45B | 430.57M |
| Investing Cash Flow | -4.82B | -9.37B | -9.14B | -11.17B | -2.99B | -3.54B |
| Financing Cash Flow | 5.08B | 4.33B | 8.86B | 6.25B | -4.38B | 2.80B |
Ramkrishna Forgings Ltd Technical Analysis
Neutral
496.70
Price Trends
539.75
Negative
527.96
Positive
555.48
Negative
Market Momentum
0.43
Negative
53.33
Neutral
79.60
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:RKFORGE, the sentiment is Neutral. The current price of 496.7 is below the 20-day moving average (MA) of 513.47, below the 50-day MA of 539.75, and below the 200-day MA of 555.48, indicating a neutral trend. The MACD of 0.43 indicates Negative momentum. The RSI at 53.33 is Neutral, neither overbought nor oversold. The STOCH value of 79.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:RKFORGE.
Ramkrishna Forgings Ltd Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ₹359.89B | 38.96 | ― | 0.65% | 25.80% | 3.90% | |
72 Outperform | ₹23.81B | 24.91 | ― | 1.07% | -1.36% | -30.57% | |
65 Neutral | ₹26.49B | 51.58 | ― | 0.47% | 14.42% | -39.78% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | ₹40.16B | 48.24 | ― | 0.49% | 6.39% | -14.96% | |
61 Neutral | ₹22.98B | 20.56 | ― | ― | 14.55% | 18.72% | |
50 Neutral | ₹110.44B | 37.75 | ― | 0.38% | 3.88% | -85.35% |
* Industrials Sector Average
IN:RKFORGE
Ramkrishna Forgings Ltd
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Ramkrishna Forgings Ltd Corporate Events
Ramkrishna Forgings Reappoints Naresh Jalan as Managing Director for New Three-Year Term
May 1, 2026
Ramkrishna Forgings Limited’s board has approved the re-appointment of Naresh Jalan as managing director for a further three-year term starting 5 November 2026, subject to shareholder approval at the company’s 44th annual general meeti...
Ramkrishna Forgings Clears FY26 Results, Declares Interim Dividend and ESOP Allotment
May 1, 2026
Ramkrishna Forgings Ltd’s board has approved the audited standalone and consolidated financial results for the quarter and year ended 31 March 2026, with joint statutory auditors issuing an unmodified opinion, underscoring the reliability of...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.