Is Ramkrishna Forgings Ltd (RKFORGE) a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Ramkrishna Forgings Ltd is a average quality company .

Is Ramkrishna Forgings Ltd (RKFORGE) undervalued or overvalued?

The key valuation ratios of Ramkrishna Forgings Ltd's currently when compared to its past seem to suggest it is in the Fair zone .

What is Ramkrishna Forgings Ltd (RKFORGE) share price return in the past 10 years?

Ramkrishna Forgings Ltd share price has appreciated 21.1% annually (CAGR) over the past ten years.

Is Ramkrishna Forgings Ltd (RKFORGE) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Ramkrishna Forgings Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

What is the share price of Ramkrishna Forgings Ltd (RKFORGE)?

Company share prices are keep on changing according to the market conditions. The current trading price of Ramkrishna Forgings Ltd (RKFORGE) on 21-Apr-2026 09:55:00 at 09:55 is 554.60.

What is the P/E ratio of Ramkrishna Forgings?

The latest standalone P/E ratio of Ramkrishna Forgings as of 21-Apr-2026 is 39.69.

What is the P/B ratio of Ramkrishna Forgings Ltd (RKFORGE)?

The latest standalone P/B ratio of Ramkrishna Forgings Ltd (RKFORGE) as of 21-Apr-2026 is 3.01.

What is the 52-week high and low of Ramkrishna Forgings Ltd (RKFORGE)?

The 52-week high of Ramkrishna Forgings Ltd (RKFORGE) is Rs. 746.50 and the 52-week low is Rs. 460.15.

Ramkrishna Forgings Ltd (RKFORGE) Share Analysis – Cycle Position, Quality & Valuation Zone & DeciZen Rating

Name: Ramkrishna Forgings Ltd (RKFORGE)
Brand: Ramkrishna Forgings

Ramkrishna Forgings Ltd (RKFORGE) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

BSE: 532527 NSE: RKFORGE | Forgings | Small Cap

Ramkrishna Forgings Ltd (RKFORGE)

BSE: 532527 NSE: RKFORGE

Key Metrics

Market Cap

₹9,638 Cr.

P/E Ratio

44.68

Price to Book (P/B)

3.00

Price to Sales (P/S)

2.43

EV/EBITDA

21.96

Return on Capital Employed (ROCE)

7.12%

Current Price

₹554.6

Return on Equity (ROE)

11.66%

Return on Assets (ROA)

5.55%

Operating Profit Margin

14.2%

Net Profit Margin

8.22%

Gross Profit Margin

10.4%

Book Value per Share

₹176.9

Sales Growth (YoY)

Sales Growth (3 Years)

20.25%

Operating Profit Growth (1 Year)

-33.37%

Operating Profit Growth (3 Years)

2.69%

Net Profit Growth (1 Year)

-2.9%

52-Week Low / High

₹460 / 747

Net Profit Growth (3 Years)

18.74%

Dividend Yield

0.26%

Promoter Holding

43.13%

Pledged shares (%)
of Promoter's holding (%)

15.76%

Check Before You Invest

Q.1 Revenue growth of Ramkrishna Forgings Ltd?

Ramkrishna Forgings Ltd revenue growth is 2% for FY-2025 , which is below its 5 year CAGR of 27.1% , indicating slower growth.

Q.1 Promoter shareholding and pledge status of Ramkrishna Forgings Ltd?

Promoters hold 43.13% of the Ramkrishna Forgings Ltd, with 15.76% of their stake pledged, indicating high pledge risk.

Q.1 Revenue growth of Ramkrishna Forgings Ltd vs industry peers?

Ramkrishna Forgings Ltd revenue CAGR is 27.10% , compared to the industry median CAGR of 11.56% , indicating faster growth and gaining its market share.

Q.1 Which industry/sub-sector does Ramkrishna Forgings Ltd belong to?

Ramkrishna Forgings Ltd belongs to the Automobiles sector, operating specifically within the Forgings segment.

Q.1 Stock return of Ramkrishna Forgings Ltd over the last decade?

Over the last 9 year(s), the stock has delivered a CAGR of 20.9% based on the current price.

DeciZen - make an informed investing decision on Ramkrishna Forgings

Based on:

Data

Overall Rating ⓘ
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1. Quality

2. Valuation

3. Price Trend

Ramkrishna Forgings stock performance

Key Ratios

Is Ramkrishna Forgings Ltd an attractive stock to invest in?

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	10.4%	6.8%	13.8%	15.8%	5.2%	5.7%	14.7%	18.7%	19.1%	7.1%	-
Value Creation Index ⓘ	-0.3	-0.5	0.0	0.1	-0.6	-0.6	0.1	0.3	0.4	-0.5	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	1,088	921	1,491	1,931	1,216	1,289	2,320	3,193	3,955	4,034	3,969
Sales YoY Gr.	-	-15.4%	61.9%	29.5%	-37%	6%	80%	37.6%	23.9%	2%	-
Adj EPS ⓘ	3.9	0.5	5.8	7.3	0.8	1.2	12.4	16	18.6	18.2	11.9
YoY Gr.	-	-86.3%	966.7%	27.3%	-89.2%	55.7%	907.3%	29.1%	16.1%	-2.2%	-
BVPS (₹) ⓘ	32.7	32.4	46.2	53.1	53.3	54.8	67	80.7	148	166.5	176.9
Adj Net Profit ⓘ	56.4	7.8	93.9	119	12.8	19.7	198	256	336	329	216
Cash Flow from Ops. ⓘ	104	144	127	267	254	140	43.1	745	621	32.6	-
Debt/CF from Ops. ⓘ	8.5	6.7	6.7	3.4	3.9	8.8	37	1.8	1.8	61.8	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	15.7%	27.1%	20.3%	2%
Adj EPS ⓘ	18.5%	87.2%	13.6%	-2.2%
BVPSⓘ	19.8%	25.6%	35.5%	12.5%
Share Price	21.1%	40.3%	20.3%	-23.1%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	12.8	1.7	15.3	14.7	1.5	2.2	20.2	21.3	16.8	11.5	6.9
Op. Profit Mgn % ⓘ	16.9	17.6	19.4	20	17.6	17.4	22.3	22.1	21.3	14.2	13.4
Net Profit Mgn % ⓘ	5.2	0.8	6.3	6.2	1.1	1.5	8.5	8	8.5	8.2	5.4
Debt to Equity ⓘ	1.9	2.1	1.1	1.1	1.1	1.4	1.5	1	0.4	0.7	-
Working Cap Days ⓘ	205	273	211	184	274	277	232	217	204	240	123
Cash Conv. Cycle ⓘ	100	119	118	126	186	185	149	134	120	141	9

Recent Performance Summary

Latest Financials

	Standalone	Consolidated
TTM EPS (₹)	13.4	11.9
TTM Sales (₹ Cr.)	3,487	3,969
BVPS (₹) ⓘ	176.3	176.9
Reserves (₹ Cr.) ⓘ	3,170	3,180
P/BV ⓘ	3.01	3.00
PE ⓘ	39.69	44.68

From the Market
52 Week Low / High (₹)	460.15 / 746.50
All Time Low / High (₹)	4.26 / 1064.00
Market Cap (₹ Cr.)	9,638
Equity (₹ Cr.)	36.4
Face Value (₹)	2
Industry PE ⓘ	57.1

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

5.77

5.76

15.76

* Pledged shares as % of Promoter's holding (%)

Valuation of Ramkrishna Forgings - Consolidated Basis

YTD 1Y 3Y 5Y 10Y Max

Analyst's Notes

No data found!

Key Ratios

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	1,088	921	1,491	1,931	1,216	1,289	2,320	3,193	3,955	4,034
Operating Expenses ⓘ +	907	759	1,202	1,545	1,008	1,065	1,802	2,499	3,113	3,473
Manufacturing Costs	184	203	258	309	212	218	374	474	623	801
Material Costs	553	395	756	1,033	594	640	1,161	1,611	2,015	2,000
Employee Cost	81	86	94	105	103	96	127	158	208	250
Other Costs ⓘ	87	75	94	98	99	111	140	257	267	423
Operating Profit ⓘ	181	162	289	386	208	224	518	694	842	561
Operating Profit Margin (%)	16.7%	17.6%	19.4%	20.0%	17.1%	17.3%	22.3%	21.7%	21.3%	13.9%
Other Income ⓘ +	2	8	4	3	7	6	1	4	29	26
Exceptional Items ⓘ	0	0	0	0	0	0	0	0	0	0
Interest ⓘ	55	78	73	84	80	81	97	122	154	167
Depreciation ⓘ	53	75	85	121	121	117	169	202	258	271
Profit Before Tax ⓘ	75	17	135	184	15	32	253	374	459	148
Tax ⓘ	20	6	40	64	5	11	55	126	118	-184
Profit After Tax	55	11	95	120	10	21	198	248	341	332
PAT Margin (%)	5.0%	1.2%	6.4%	6.2%	0.8%	1.6%	8.5%	7.8%	8.6%	8.2%
Adjusted EPS (₹)	3.8	0.8	5.8	7.4	0.6	1.3	12.4	15.5	18.9	22.9
Dividend Payout Ratio (%)	11%	26%	3%	4%	0%	0%	4%	13%	11%	9%

Balance Sheet

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	470	465	753	866	870	875	1,071	1,291	2,675	3,014
Share Capital ⓘ	29	29	33	33	33	32	32	32	36	36
Reserves ⓘ	441	436	720	834	837	843	1,039	1,259	2,639	2,978
Debt +	828	875	753	820	881	1,135	1,456	1,138	916	1,793
Long Term Debt	507	423	386	458	479	670	869	758	767	1,083
Short Term Debt	321	452	367	362	402	465	587	381	149	710
Minority Interest	0	0	0	0	0	0	0	0	0	0
Trade Payables	176	300	301	279	214	433	608	792	1,017	1,080
Others Liabilities ⓘ	211	218	274	272	266	266	390	574	806	651
Total Liabilities ⓘ	1,685	1,858	2,080	2,237	2,231	2,709	3,525	3,794	5,413	6,539
Fixed Assets
Net Fixed Assets ⓘ +	947	1,024	1,076	1,114	1,175	1,240	1,473	1,693	2,428	2,992
Gross Block	1,164	1,099	1,235	1,393	1,572	1,753	2,151	2,568	3,523	4,346
Accumulated Depreciation	217	74	159	279	397	512	678	876	1,095	1,354
CWIP ⓘ	35	50	44	130	219	276	129	91	216	498
Investments ⓘ	0	0	0	0	0	0	55	0	125	190
Inventories	220	229	299	331	359	438	709	907	1,100	1,254
Trade Receivables	338	444	515	510	343	573	891	775	850	975
Cash Equivalents	2	2	1	3	3	68	38	47	177	20
Others Assets ⓘ	142	109	146	150	132	114	229	281	516	609
Total Assets ⓘ	1,685	1,858	2,080	2,237	2,231	2,709	3,525	3,794	5,413	6,539

Cash Flow

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	104	144	127	267	254	140	43	745	621	33
PBT ⓘ	75	17	135	184	15	32	253	374	460	248
Adjustment ⓘ	109	144	156	184	181	189	247	280	347	284
Changes in Working Capital ⓘ	-65	-13	-139	-57	65	-80	-409	159	-41	-362
Tax Paid ⓘ	-16	-5	-24	-44	-7	-1	-48	-68	-145	-137
Cash Flow From Investing Activity ⓘ +	-169	-107	-110	-254	-231	-222	-354	-299	-1,117	-912
Capex	-171	-109	-112	-254	-227	-230	-299	-355	-587	-964
Net Investments	-0	-1	1	-1	0	-0	-56	55	-109	-70
Others ⓘ	2	2	2	1	-4	9	1	1	-422	122
Cash Flow From Financing Activity ⓘ +	67	-37	-17	-12	-22	147	280	-438	625	722
Net Proceeds from Shares ⓘ	12	0	197	1	0	0	2	0	1,049	12
Net Proceeds from Borrowing ⓘ	59	-36	-48	77	24	177	243	-92	6	377
Interest Paid ⓘ	-58	-77	-73	-81	-76	-78	-98	-114	-148	-164
Dividend Paid ⓘ	-7	-6	-3	-3	-5	0	-5	-27	-24	-36
Others ⓘ	60	82	-90	-6	35	48	138	-205	-257	534
Net Cash Flow ⓘ	1	-1	0	1	1	65	-31	8	129	-157

Finance Ratio

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	12.49	2.4	15.59	14.84	1.12	2.37	20.35	21.01	17.22	11.66
ROCE (%)	10.43	6.84	13.76	15.81	5.19	5.65	14.66	18.73	19.06	7.12
Asset Turnover Ratio	0.74	0.56	0.77	0.89	0.54	0.52	0.74	0.87	0.86	0.68
PAT to CFO Conversion(x)	1.89	13.09	1.34	2.23	25.4	6.67	0.22	3	1.82	0.1
Working Capital Days
Receivable Days	101	144	116	97	128	130	115	95	75	83
Inventory Days	63	83	64	60	104	113	90	92	93	107
Payable Days	109	220	104	48	86	106	96	90	77	91

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Ramkrishna Forgings Ltd FAQs

The current trading price of Ramkrishna Forgings on 21-Apr-2026 09:55 is ₹554.6.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 20-Apr-2026 the market cap of Ramkrishna Forgings stood at ₹9,638.1 Cr

The latest P/E ratio of Ramkrishna Forgings as of 20-Apr-2026 is 39.69.

The latest P/B ratio of Ramkrishna Forgings as of 20-Apr-2026 is 3.01.

The 52-week high of Ramkrishna Forgings is ₹746.5 and the 52-week low is ₹460.1.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Ramkrishna Forgings is ₹3,487 ( Cr.) .

About Ramkrishna Forgings Ltd

Ramkrishna Forgings Limited was founded on November 11, 1981.On a bed of integrity, fuelled by burning ambition, years of staying true to their principles and tireless endeavour has produced rich results. It became a limited company on May 25, 1995. And today its is an organisation manned by qualified people, with state-of-the-art manufacturing facilities and international levels of quality control.

The company is in the approved panel of R.D.S.O. for the manufacture of Screw Couplings, Draw Gear Assembly, Snubber Assembly, Hanger, Block Hanger Side Frame Key and various other forgings items of Railway Coaches and Wagon. It is also in the approved panel of Hindustan Motors Ltd., TELCO Ltd., BEML Ltd., and many other engineering units. The company is an ISO 9002 approved unit accredited by BVQI since 15th August 2000 for manufacture & supply of open & closed plain carbon and low alloy steel forgings in the as- Forged, Heat Treated and Machined condition for Railways, Automobile and General Engineering Purposes.

Apart from standard products, the company undertakes turnkey development of forgings and stampings from raw samples. It also designs and develops special dies for customers. Whatever be the requirement customer knows that Ramkrishna Forgings will deliver the specified quality and within specified time to its satisfaction.

The company also exports its products to Germany, USA, Mexico, Brazil, Bangladesh, Sri Lanka and Japan.

Product range of the company include:

AS Forged & Heat Treated Items
Machined Items

Different divisions of the company are:

Raw material & cutting section
Die making
Raw material heating
Open Die/ Close Die
Upset forging
Ring Rolling
Heat treatment
Shot blasting
Machining
Cad Cam Facility

Achievements/ recognition:

ISO 9001 (2000) By BVQI
ISO/TS 16949 (Plant I)
ISO/TS 16949 (Plant III & IV)

Future plans:

Projects under commissioning- Gear Cutting Facilities & Horizontal Machining Centre - Different Types of Gears & machining of assembly for automobile Industry.
Expansion Programme- Ring Rolling Line - It is a fully automated robotic line imported from SMS Eumuco, Germany, which will help the company to increase its production capacity considerably. The company will able to manufacture crown wheels & the bearing races through this route economically & with high productivity and will also help the company to increase its export market.

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Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
Logo:
Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
Brand Logo:
SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Ramkrishna Forgings Ltd (RKFORGE) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Ramkrishna Forgings Share Price