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297% PAT Growth in Q1 FY27; RKFORGE Secures Rs 293 Cr New Orders
RKFORGE reported a robust Q1 FY27 with PAT surging 297% YoY to Rs 46.88 Cr on revenue of Rs 1,217 Cr, which grew 19.8% YoY. EBITDA margins expanded to 17.96% from 17.11% in the previous quarter, driven by a better product mix and operating leverage as major capex cycles conclude. The company bagged new orders worth Rs 293 Cr during the quarter, with 82% of the automotive orders coming from the Passenger Vehicle segment. Management is now pivoting from capital expenditure to asset sweating and debt reduction, targeting a significant revenue contribution from its Railway Wheel JV by FY28.
Confidence: HIGH
What changedThe company has completed its major strategic capital expenditure phase and is now focusing on improving asset utilization and operating leverage.
Why it mattersThe shift toward Passenger Vehicles, EVs, and Railways reduces the company's historical reliance on the cyclical Commercial Vehicle sector, potentially leading to more stable long-term margins.
Q1 FY27 Revenue: Rs 1,217 CrPAT Growth (YoY): 297%New Order Value: Rs 293 CrNew Orders vs TTM Revenue: 6.91%EBITDA Margin: 17.96%Gross Margin: 54%
📅 Short termThe stock is likely to react positively to the sharp jump in profitability and the expansion of EBITDA margins.
📈 Long termStructural diversification into Railways and EVs, coupled with debt reduction, could lead to a re-rating of the business over the next 2-3 years.
⚠ Risk flags
- High client concentration (top 10 customers contribute ~60% of revenue)
- Cyclicality of the MHCV industry
- Execution risk in the new Railway Wheel JV
Key Highlights
Net profit (PAT) increased by 297% YoY to Rs 46.88 Cr in Q1 FY27.
Secured new business worth Rs 278 Cr from the automotive segment and Rs 15 Cr from the Metro segment.
EBITDA margin improved to 17.96%, up from 17.11% in the preceding quarter.
Passenger Vehicle order book is now balanced 50-50 between Electric Vehicles (EV) and Internal Combustion Engine (ICE) components.
Railway Wheel JV targets Rs 1,600-1,700 Cr in annual revenue by FY28 at 80-85% utilization.
👀 What to Watch
Monitor the company's progress in reducing its Rs 1,828 Cr debt as it enters an asset-sweating phase. Watch for the execution timeline of the Railway Wheel JV, which is expected to be a major growth driver by FY28.
Q1 PAT up 298% YoY to ₹47 Cr; ₹170 Cr Capex announced for PV components
RKFORGE reported a strong YoY performance for Q1 FY27, with revenue growing 19.8% to ₹1,217 Cr and PAT surging 297.6% to ₹47 Cr. EBITDA margins expanded significantly by 332 bps YoY to 17.96%, driven by a better business mix and operating leverage. The company announced a new ₹170 Cr capex (approx. 5.2% of Net Worth) to expand forging capacity and enter passenger vehicle components. Despite the strong YoY growth, PAT saw a sequential decline of 16.2% compared to Q4 FY26.
Confidence: HIGH
What changedRKFORGE reported significant YoY margin expansion and initiated a new ₹170 Cr expansion phase targeting the passenger vehicle segment.
Why it mattersThe results validate the company's strategy to diversify away from heavy commercial vehicles into higher-margin segments like railways and passenger vehicles, improving overall profitability.
Revenue (Q1 FY27): ₹1,217 CrPAT (Q1 FY27): ₹47 CrEBITDA Margin: 17.96%Capex vs Net Worth: ~5.2%Installed Capacity: 3,95,800 MT
📅 Short termThe stock may react positively to the strong YoY growth and margin expansion, though the sequential PAT decline might temper immediate gains.
📈 Long termStructural shift towards higher-margin segments like Railways, Aerospace, and PVs, supported by ongoing capacity expansion, aligns with the company's 15-20% growth guidance.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- High client concentration (top 10 customers contribute ~60% of revenue)
- Cyclicality of the MHCV industry
- Sequential decline in PAT
Key Highlights
Consolidated Revenue increased 19.8% YoY to ₹1,217 Cr in Q1 FY27
PAT surged 297.6% YoY to ₹47 Cr, though it declined 16.2% sequentially from ₹56 Cr
EBITDA margins improved to 17.96% from 14.64% in the same quarter last year
Announced ₹170 Cr capex for a 4,000 MT press line and passenger vehicle component manufacturing
Total installed capacity reached 3,95,800 MT as of June 30, 2026
👀 What to Watch
Monitor the execution timeline of the ₹170 Cr capex and the progress of the railway wheel JV, which is expected to be a major revenue contributor by FY28.
RKFORGE Q1 FY27 Revenue up 19.8% to ₹1,217 Cr; PBT Surges 172% YoY
Ramkrishna Forgings (RKFL) reported a strong start to FY27 with consolidated revenue growing 19.8% YoY to ₹1,217 Cr. Profitability showed significant improvement as PBT surged 172.5% YoY to ₹65 Cr, driven by better operating leverage and a shift toward higher value-added segments. EBITDA margins expanded by 332 bps YoY to 17.96%. The company is actively diversifying into Railways, Aerospace, and Semiconductors to reduce its historical dependence on the cyclical MHCV sector.
Confidence: HIGH
What changedThe company has successfully expanded its margins through better product mix and operating leverage while starting to realize gains from recent capacity additions in Press and Casting lines.
Why it mattersThe significant jump in PBT and margin expansion indicates that RKFL is successfully moving up the value chain, which is critical given its high P/E of 145.4 and the need to justify such valuations through earnings growth.
Consolidated Revenue (Q1 FY27): ₹1,217 CrYoY Revenue Growth: 19.8%EBITDA Margin: 17.96%PBT Growth (YoY): 172.5%Total Installed Capacity: 3,95,800 MTRevenue vs TTM Revenue: 28.7%
📅 Short termThe stock is likely to react positively to the sharp expansion in margins and the triple-digit growth in PBT, reflecting improved operational efficiency.
📈 Long termThe structural shift toward Railways (targeting 40,000 wheels/year) and non-ferrous forgings for Aerospace could re-rate the business by reducing its cyclicality and improving return ratios.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- High client concentration (top 5 customers contribute 50-55% of revenue)
- Cyclicality of the MHCV industry
- Transition to EVs impacting traditional engine forged parts
Key Highlights
Consolidated Revenue increased 19.8% YoY to ₹1,217 Cr for Q1 FY27.
Consolidated PBT grew by 172.5% YoY to ₹65 Cr compared to ₹24 Cr in Q1 FY26.
EBITDA Margin expanded to 17.96% from 14.64% in the same quarter last year.
Domestic market revenue grew 20.3% YoY to ₹735.07 Cr, now representing 67.7% of standalone revenue.
Added 40,000 MT Press line capacity and 28,800 MT Casting capacity in Q4 FY26, which are currently ramping up.
👀 What to Watch
Watch for the execution timeline of the Railway Wheel JV, which is expected to contribute ₹1,600-1,700 Cr in revenue by FY28, and monitor the utilization levels of the newly added 40,000 MT press capacity.
Rs 170.52 Cr Capex Approved for Passenger Vehicle Expansion and 8,800 MT Capacity Addition
Ramkrishna Forgings (RKFORGE) has approved a capital expenditure of Rs 170.52 crore to establish a 4,000 MT press line and expand into the passenger vehicle segment for export markets. This expansion will add 8,800 MT of capacity by September 2027, representing a ~2.8% increase over current forging capacity. The board also re-designated Chaitanya Jalan as Joint Managing Director and noted the receipt of Rs 153.56 crore from warrant conversions during recent quarters. These moves signal a strategic shift toward diversifying the revenue base away from heavy commercial vehicles.
Confidence: HIGH
What changedThe company is initiating a specific capital expenditure program to diversify into passenger vehicles and has elevated a key promoter-family member to the Joint Managing Director role.
Why it mattersThe expansion reduces reliance on the cyclical MHCV sector (currently 50-55% of revenue from top 5 clients) and targets higher-margin export markets, utilizing a mix of debt and equity financing.
Capex Amount: Rs 170.52 CrProposed Capacity Addition: 8,800 MTCapex vs TTM Revenue: ~4.02%Target Completion Date: September 2027Warrant Money Received: Rs 153.56 Cr
📅 Short termThe announcement of growth-oriented capex and management continuity is likely to be viewed positively by the market in the coming weeks.
📈 Long termThe expansion into passenger vehicles and the upcoming railway wheel JV (targeting Rs 1,600-1,700 Cr revenue by FY28) are structural drivers for the company's next growth phase.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution risk for the new 8,800 MT capacity
- High client concentration (top 10 customers contribute ~60%)
- Cyclicality of the automotive industry
Key Highlights
Approved Rs 170.52 crore investment for a new 4,000 MT press line targeting passenger vehicle exports.
Planned capacity addition of 8,800 MT expected to be operational by September 2027.
Mr. Chaitanya Jalan re-designated as Joint Managing Director with a tenure until November 8, 2029.
Received Rs 153.56 crore in warrant subscription payments (Rs 100.80 cr and Rs 52.76 cr) in recent periods.
Current forging capacity utilization stands at 68% on a base of 3,11,400 MT.
👀 What to Watch
Watch for the execution timeline of the new press line and the company's ability to secure export orders in the passenger vehicle segment to utilize the 8,800 MT additional capacity.
RKFORGE Approves ₹170.52 Cr Capex for Passenger Vehicle Expansion and Management Re-designation
Ramkrishna Forgings (RKFORGE) has approved a capital expenditure of ₹170.52 crore to establish a 4,000 MT press line specifically for the passenger vehicle export market. This investment, representing approximately 5.2% of the company's net worth, aims to add 8,800 MT of capacity by September 2027. Additionally, the board has elevated Mr. Chaitanya Jalan to Joint Managing Director until November 2029, ensuring leadership continuity. The company also approved its Q1 FY27 financial results and re-appointed Singhi & Co. as internal auditors.
Confidence: HIGH
What changedThe company has formally committed to a new ₹170.52 crore production line for passenger vehicles and elevated a key executive to the Joint Managing Director role.
Why it mattersThis expansion diversifies RKFORGE's revenue stream away from its heavy reliance on Medium and Heavy Commercial Vehicles (MHCVs) and targets higher-value export markets in the passenger vehicle segment.
Capex Value: ₹170.52 CrCapex vs Net Worth: ~5.2%Proposed Capacity Addition: 8,800 MTExisting Forging Capacity: 3,11,400 MTCompletion Date: September 2027
📅 Short termThe announcement of fresh capex and management stability is likely to be viewed positively by the market in the coming weeks.
📈 Long termThe move into passenger vehicle components and increased export focus could structurally improve margins and reduce cyclicality by FY28.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution risk for the new press line
- High client concentration (top 10 customers contribute ~60% revenue)
- Cyclicality of the automotive industry
Key Highlights
Approved ₹170.52 crore investment for a new 4,000 MT press line targeting passenger vehicles.
Proposed capacity addition of 8,800 MT to be completed by September 2027.
Existing forging capacity stands at 3,11,400 MT with a current utilization of 68%.
Mr. Chaitanya Jalan re-designated as Joint Managing Director with a tenure until November 8, 2029.
Financing for the expansion will be a mix of equity and debt.
👀 What to Watch
Monitor the execution timeline of the ₹170.52 crore project and the company's ability to secure export orders in the passenger vehicle segment to utilize the new 8,800 MT capacity.
₹170.52 Cr Capex for Passenger Vehicle Expansion and Management Re-designation
Ramkrishna Forgings (RKFORGE) has approved a ₹170.52 crore capital expenditure to establish a 4,000-tonne press line and a production facility for passenger vehicle components, targeting export markets. This expansion will add 8,800 MT of capacity by September 2027, representing approximately 5.2% of the company's current net worth. The board also elevated Mr. Chaitanya Jalan to Joint Managing Director and reported a ₹42.05 crore exceptional provision for credit losses due to geopolitical disruptions in West Asia and US tariffs. Additionally, the company continues to receive funds from warrant conversions, strengthening its capital base.
Confidence: HIGH
What changedThe company has committed to a new ₹170.52 crore production line for passenger vehicles and elevated a key promoter-family member to the Joint Managing Director role.
Why it mattersThis expansion marks a strategic foray into the passenger vehicle segment to diversify away from the cyclical MHCV industry, which currently accounts for a significant portion of revenue. The management change ensures leadership continuity within the promoter family.
Capex Amount: ₹170.52 CrCapex vs Net Worth: ~5.2%Proposed Capacity Addition: 8,800 MTCompletion Target: September 2027ECL Provision (Exceptional): ₹42.05 CrExisting Forging Capacity: 3,11,400 MT
📅 Short termThe market may react positively to the expansion plans, though the ₹42.05 crore ECL provision and other exceptional items in the Q1 results may weigh on immediate profitability optics.
📈 Long termThe 8,800 MT addition and the focus on passenger vehicle exports align with the company's 15-20% growth guidance and its goal to reach ₹1,600-1,700 Cr revenue from the railway wheel JV by FY28.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- High client concentration (top 5 customers contribute 50-55% of revenue)
- Geopolitical risks affecting export receivables (as evidenced by the ₹42.05 Cr ECL provision)
- Cyclicality of the MHCV industry
Key Highlights
Approved ₹170.52 crore investment for a new 4,000 MT press line and passenger vehicle component manufacturing.
Planned capacity addition of 8,800 MT to be commissioned by September 2027, funded via a mix of debt and equity.
Mr. Chaitanya Jalan re-designated as Joint Managing Director with a tenure extending to November 2029.
Recognized a ₹42.05 crore provision for expected credit losses (ECL) due to West Asia conflict and US tariff impacts.
Received ₹52.76 crore during the quarter from the conversion of 3,35,000 warrants at ₹2,100 each.
👀 What to Watch
Monitor the execution timeline of the 8,800 MT capacity expansion and the company's ability to scale its passenger vehicle export business by 2027. Watch for the recovery of the ₹52.32 crore electricity duty receivable which could provide a one-time cash flow boost.
RKFORGE Allots 3.35 Lakh Shares to Promoters; Receives Rs 52.76 Crore on Warrant Conversion
Ramkrishna Forgings Limited has approved the allotment of 3,35,000 equity shares to Riddhi Portfolio Private Limited, a promoter entity, following the conversion of warrants. This transaction represents the final conversion of the 9,75,000 warrants originally issued in August 2025. The company received the balance 75% exercise price amounting to Rs. 52.76 crore at a rate of Rs. 1,575 per warrant. Post-allotment, the company's paid-up equity share capital has increased to Rs. 36.43 crore, consisting of 18,21,70,017 shares.
Key Highlights
Allotment of 3,35,000 equity shares of face value Rs. 2 each upon conversion of warrants.
Received Rs. 52,76,25,000 from promoter group entity Riddhi Portfolio Private Limited.
The warrants were converted at a total issue price of Rs. 2,100 per share (including premium).
This completes the conversion of the entire 9,75,000 warrants issued on a preferential basis in August 2025.
Total paid-up equity capital increased to Rs. 36,43,40,034 across 18.21 crore shares.
👀 What to Watch
Investors should take note of the promoter's commitment as they have fully exercised their warrants at a price of Rs. 2,100 per share, which often acts as a psychological support level for the stock price.
India Ratings Downgrades Ramkrishna Forgings' Long-Term Rating to 'IND AA-' on High Leverage
India Ratings has downgraded RKFORGE's long-term rating to 'IND AA-' from 'IND AA' due to weak credit metrics and high net leverage of 4.64x in FY26. The company's EBITDA margins moderated to 15.2% in FY26, impacted by a lower share of high-margin exports and a significant inventory over-statement of INR 2,205 million discovered in FY25. Despite the downgrade, revenue grew 5.1% to INR 42,381 million, and management expects a recovery in FY27 driven by new capacities and a INR 2,028 million fund infusion from warrants. The short-term rating remains affirmed at 'IND A1+'.
Key Highlights
Long-term credit rating downgraded to 'IND AA-' from 'IND AA' with a Stable outlook.
Consolidated net leverage rose significantly to 4.64x in FY26 from 2.0x in FY24 due to aggressive capex and acquisitions.
Inventory over-statement of INR 2,205 million as of March 2025 resulted in a net adverse impact of INR 2,026 million.
Total debt increased to INR 31,438 million in FY26 to fund expansion and working capital needs.
Management targets FY27 revenue of INR 48,000-50,000 million with plans to reduce leverage via tax refunds and warrant infusions.
👀 What to Watch
Investors should monitor the company's ability to reduce leverage toward the 3.0x target by FY28 and track the recovery of high-margin export volumes. While the inventory accounting issue is reportedly resolved, internal control effectiveness remains a critical watchpoint for long-term stability.
RKFORGE Material Subsidiary Auditor S R Batliboi & Co. LLP Resigns
Ramkrishna Forgings (RKFORGE) has announced the resignation of S R Batliboi & Co. LLP as the statutory auditor of its material subsidiary, Ramkrishna Titagarh Rail Wheels Limited (RTRWL), effective May 12, 2026. The company stated that the auditor raised no concerns regarding management or the audit process. As no issues were flagged, the Audit Committee did not find it necessary to deliberate on the resignation. This disclosure is mandatory under SEBI Regulation 30 for material subsidiaries.
Key Highlights
S R Batliboi & Co. LLP resigned as Statutory Auditor of material subsidiary RTRWL effective May 12, 2026.
The company confirmed that no concerns were raised by the auditor regarding management or the audit process.
RTRWL is a material subsidiary of Ramkrishna Forgings Limited.
The Audit Committee did not deliberate on the matter as no specific concerns were cited in the resignation letter.
👀 What to Watch
Investors should monitor the appointment of the successor auditor to ensure continuity in governance standards. While the company claims no red flags, auditor changes in material subsidiaries warrant a cautious observation of future financial disclosures.
RKFORGE Q4 FY26 Revenue Up 28% YoY; EBITDA Surges 111% to ₹208.19 Cr
Ramkrishna Forgings reported a robust Q4 FY26 with consolidated revenue growing 28% YoY to ₹1,216.78 crores and EBITDA margins expanding to 17.1%. The company secured new orders worth ₹594 crores during the quarter, with a significant 44% coming from non-automotive segments. Management has provided a strong outlook for FY27, driven by the commencement of the rail wheel plant targeting 40,000 wheels and near-full utilization of casting capacities. While full-year PBT fell 24% due to subsidiary-level adjustments, the operational trajectory remains positive with strong demand in North American Class 8 trucks.
Key Highlights
Q4 FY26 consolidated revenue rose 28% YoY to ₹1,216.78 crores with EBITDA jumping 111% to ₹208.19 crores.
Railway business revenue share increased to 7.5% in FY26, up from 4.6% in the previous year.
Secured new orders worth ₹594 crores in Q4, with 44% coming from the non-automotive segment.
Rail wheel joint venture to commence production in Q1 FY27, targeting 40,000 wheels for Indian Railways this year.
Management expects casting capacity utilization to reach 85-90% in FY27, supporting significant top-line growth.
👀 What to Watch
Investors should focus on the company's successful diversification into high-margin segments like Railways and Aerospace. The stock remains attractive due to strong order book execution and the upcoming commissioning of the rail wheel plant in FY27.
Ramkrishna Forgings Re-appoints Naresh Jalan as MD for 3-Year Term
Ramkrishna Forgings has approved the re-appointment of Mr. Naresh Jalan as Managing Director for a three-year term effective November 5, 2026. Under his leadership, the company has grown to become India's second-largest forging player by revenue, serving critical sectors like Automotive and Oil & Gas. The re-appointment, recommended by the Nomination and Remuneration Committee, is subject to shareholder approval at the 44th Annual General Meeting. Mr. Jalan brings over 27 years of industry experience and has been pivotal in the company's expansion into advanced machining and greenfield projects.
Key Highlights
Re-appointment of Mr. Naresh Jalan as Managing Director for a 3-year term starting November 5, 2026
Mr. Jalan possesses over 27 years of experience in the forging industry
Company is currently the second largest forging player in India in terms of revenue
Appointment is subject to shareholder approval at the upcoming 44th Annual General Meeting
👀 What to Watch
Investors should view this as a positive move for leadership continuity, given Mr. Jalan's track record in scaling the company to its current market position. No immediate action is required as this ensures stability in the company's long-term strategic direction.
RK Forge Reports Zero Deviation in Utilization of ₹150.78 Cr Raised via Warrants
Ramkrishna Forgings Limited (RKFORGE) has confirmed zero deviation in the utilization of funds raised through preferential issues for the quarter ended March 31, 2026. The company raised a total of ₹150.78 crore through two separate warrant-related transactions during the period. These funds were primarily deployed for the repayment of working capital loans and interest payments, as well as general corporate purposes. The monitoring agency, India Rating & Research Private Limited, has reviewed and verified the utilization of these funds.
Key Highlights
Raised ₹49.98 crore as 25% upfront payment for 34,00,000 warrants issued at ₹588 each.
Raised ₹100.80 crore from the conversion of 6,40,000 warrants into equity shares at ₹1,575 per warrant (75% balance).
Reported zero deviation or variation in the objects of the issue for both fund-raising events.
Funds were utilized for repayment of working capital demand loans and interest payments to strengthen the balance sheet.
India Rating & Research Private Limited acted as the monitoring agency for the fund utilization.
👀 What to Watch
Investors should view the disciplined use of equity proceeds for debt/working capital repayment as a positive sign of financial management. This deleveraging is expected to improve the company's interest coverage ratio and overall profitability.
RKFORGE Q4 FY26 Revenue Up 28% YoY to ₹1,217 Cr; EBITDA Margins Expand to 17.1%
Ramkrishna Forgings (RKFORGE) delivered a strong Q4 FY26 performance with consolidated revenue growing 28% YoY to ₹1,217 crore. EBITDA more than doubled YoY to ₹208.19 crore, with margins expanding significantly to 17.1% from 10.4% in the previous year. The company successfully concluded a heavy capex cycle, adding 43,000 MT of forging and 28,800 MT of casting capacity in Q4 alone. Management remains optimistic for FY27, backed by a robust order book of ₹3,074 crore secured during the fiscal year.
Key Highlights
Consolidated Q4 revenue increased 28% YoY to ₹1,217 crore and 11% on a QoQ basis.
EBITDA margins improved to 17.1% in Q4 FY26 compared to 10.4% in Q4 FY25.
Secured new orders worth ₹3,074 crore in FY26, including ₹594 crore in Q4.
Added significant capacities: 43,000 MT in forging and 28,800 MT in casting during Q4 FY26.
Net debt stood at ₹2,172 crore with a management focus on phased deleveraging over the next 2-3 years.
👀 What to Watch
Investors should monitor the ramp-up of newly commissioned capacities and the execution of the ₹3,074 crore order book. The transition from a heavy capex phase to a focus on asset sweating and deleveraging is a positive signal for future free cash flow generation.
Ramkrishna Forgings Declares ₹1 Interim Dividend and Re-appoints MD for 3 Years
Ramkrishna Forgings has declared a 1st interim dividend of ₹1 per share (50% of face value) for FY 2025-26, with the record date set for May 8, 2026. The board approved the audited financial results for FY 2025-26 and confirmed an unmodified audit opinion. Leadership continuity is secured with the re-appointment of Mr. Naresh Jalan as Managing Director for a three-year term starting November 2026. Additionally, the company expanded its equity base by allotting 1,64,413 shares under its ESOP scheme at a price of ₹556 per share.
Key Highlights
Declared 1st interim dividend of ₹1 per equity share of face value ₹2 for FY 2025-26.
Fixed May 8, 2026, as the record date for dividend eligibility with payment within 30 days.
Re-appointed Mr. Naresh Jalan as Managing Director for a 3-year term effective November 5, 2026.
Allotted 1,64,413 equity shares to the ESOP Trust at an exercise price of ₹556 per share.
Two independent directors to cease office on May 20, 2026, following completion of their second terms.
👀 What to Watch
Investors should ensure they hold shares by the May 8 record date to qualify for the ₹1 dividend. The re-appointment of the MD provides leadership stability, which is a positive signal for long-term strategy execution.
Ramkrishna Forgings Declares Re. 1 Dividend, Re-appoints MD, and Allots ESOPs
Ramkrishna Forgings (RKFORGE) has declared a 1st interim dividend of Re. 1 per share for FY 2025-26, with a record date of May 8, 2026. The board approved the re-appointment of Mr. Naresh Jalan as Managing Director for a three-year term starting November 2026, ensuring leadership continuity. Additionally, the company is issuing 1,64,413 equity shares under its ESOP scheme at a price of Rs. 556 per share. The company also reported audited financial results for FY 2026 with an unmodified audit opinion.
Key Highlights
Declared 1st Interim Dividend of Re. 1 per share on a face value of Rs. 2.
Re-appointed Mr. Naresh Jalan as Managing Director for a 3-year term effective November 5, 2026.
Allotted 1,64,413 equity shares to the ESOP Trust at an exercise price of Rs. 556 per share.
Paid-up equity share capital increased to 18,18,35,017 shares following the ESOP allotment.
Statutory auditors issued an unmodified opinion on the Standalone and Consolidated Financial Results for FY 2025-26.
👀 What to Watch
Investors should track the dividend record date of May 8, 2026, and view the re-appointment of the Managing Director as a positive sign of management stability.
RKFORGE Declares Re. 1 Dividend and Re-appoints MD Naresh Jalan for 3 Years
Ramkrishna Forgings (RKFORGE) has declared its first interim dividend of Re. 1 per share for FY 2025-26, with a record date of May 8, 2026. The board has approved the re-appointment of Mr. Naresh Jalan as Managing Director for a three-year term starting November 5, 2026, ensuring leadership continuity. Additionally, the company is issuing 1,64,413 equity shares under its ESOP scheme at Rs. 556 per share, totaling approximately Rs. 9.14 crore. Two independent directors will retire on May 20, 2026, following the completion of their second terms, leading to a reconstitution of board committees.
Key Highlights
Declared 1st Interim Dividend of Re. 1 per equity share (50% of face value) for FY 2025-26.
Re-appointed Naresh Jalan as Managing Director for a 3-year term effective November 5, 2026.
Allotted 1,64,413 equity shares to the ESOP Trust at Rs. 556 per share, totaling Rs. 9.14 crore.
Record date for dividend eligibility fixed as Friday, May 8, 2026.
Independent Directors Sandipan Chakravortty and Partha Sarathi Bhattacharyya to retire on May 20, 2026.
👀 What to Watch
Investors should ensure they hold shares by the May 8 record date to qualify for the dividend and can view the MD's re-appointment as a positive sign for long-term strategic stability.
RKFORGE Declares Re. 1 Dividend, Re-appoints MD, and Allots ESOPs
Ramkrishna Forgings (RKFORGE) has declared a 1st interim dividend of Re. 1 per share for FY26, with a record date of May 8, 2026. The board has approved the re-appointment of Mr. Naresh Jalan as Managing Director for a three-year term starting November 2026, ensuring leadership continuity. Additionally, the company allotted 1,64,413 equity shares under its ESOP scheme at a price of Rs. 556 per share. Two independent directors will retire on May 20, 2026, leading to a reconstitution of key board committees.
Key Highlights
Declared 1st Interim Dividend of Re. 1 per share (50% of face value) for FY 2025-26.
Re-appointed Mr. Naresh Jalan as Managing Director for a 3-year term effective November 5, 2026.
Allotted 1,64,413 equity shares at Rs. 556 per share, increasing paid-up capital to 18,18,35,017 shares.
Independent Directors Mr. Sandipan Chakravortty and Mr. Partha Sarathi Bhattacharyya to cease office on May 20, 2026.
Audit, NRC, and Capital Market committees reconstituted effective May 21, 2026.
👀 What to Watch
Investors should ensure they hold shares by the May 8 record date to receive the Re. 1 dividend. The re-appointment of the MD is a positive sign for long-term strategic stability.
RKFORGE Declares Re. 1 Dividend, Allots 1.64 Lakh ESOP Shares & Re-appoints MD
Ramkrishna Forgings has declared a 1st interim dividend of Re. 1 per share for FY 2025-26, with the record date set for May 8, 2026. The company approved the allotment of 1,64,413 equity shares to its ESOP trust at an exercise price of Rs. 556 per share, slightly increasing the total paid-up capital. Leadership stability is reinforced with the re-appointment of Mr. Naresh Jalan as Managing Director for a three-year term. Additionally, the board approved the audited financial results for FY 2025-26 with an unmodified audit opinion.
Key Highlights
Declared 1st interim dividend of Re. 1 per share (50% of face value) for FY 2025-26 with a record date of May 8, 2026.
Allotted 1,64,413 equity shares under ESOP 2023 at Rs. 556 per share, raising the paid-up capital to 18,18,35,017 shares.
Re-appointed Mr. Naresh Jalan as Managing Director for a 3-year term effective November 5, 2026.
Audited FY26 financial results approved with an unmodified opinion from joint statutory auditors S.R. Batliboi & Co. and S.K. Naredi & Co.
Two independent directors to cease office on May 20, 2026, leading to a reconstitution of Audit and NRC committees.
👀 What to Watch
Investors should ensure they hold shares by the May 8 record date to qualify for the interim dividend. The re-appointment of the MD and the clean audit report provide confidence in the company's governance and leadership continuity.
Ramkrishna Forgings Declares Re. 1 Interim Dividend; Sets Record Date for May 8, 2026
Ramkrishna Forgings has declared its first interim dividend of Re. 1 per share for FY 2025-26, which is 50% of the face value of Rs. 2. The company has fixed May 8, 2026, as the record date to determine eligible shareholders for this payout. Alongside the dividend, the board approved the allotment of 1,64,413 equity shares under its 2023 ESOP scheme at an exercise price of Rs. 556 per share. Leadership continuity is also addressed with the re-appointment of Managing Director Naresh Jalan for a further three-year term starting November 2026.
Key Highlights
Declared 1st interim dividend of Re. 1 per equity share (50% of face value) for FY 2025-26.
Fixed Friday, May 8, 2026, as the Record Date for dividend eligibility.
Approved allotment of 1,64,413 equity shares to the ESOP Trust at Rs. 556 per share.
Re-appointed Mr. Naresh Jalan as Managing Director for a 3-year term effective November 5, 2026.
Post-allotment, the company's paid-up equity share capital increased to 18,18,35,017 shares.
👀 What to Watch
Investors interested in the dividend should ensure they hold the stock before the May 8 record date. The re-appointment of the MD and the ESOP allotment at a premium suggest management confidence in long-term value creation.
Ramkrishna Forgings Declares Re. 1 Interim Dividend; Re-appoints MD for 3 Years
Ramkrishna Forgings (RKFORGE) has declared its first interim dividend of Re. 1 per share for FY 2025-26, with a record date set for May 8, 2026. The board also approved the re-appointment of Mr. Naresh Jalan as Managing Director for a three-year term, ensuring leadership continuity. Additionally, the company allotted 1,64,413 equity shares under its ESOP scheme at an exercise price of Rs. 556 per share. The audited financial results for the year ended March 31, 2026, were approved with an unmodified audit opinion, signaling financial transparency.
Key Highlights
Declared 1st Interim Dividend of Re. 1 per equity share (50% of face value) for FY 2025-26.
Fixed May 8, 2026, as the Record Date for the purpose of dividend payment.
Re-appointed Mr. Naresh Jalan as Managing Director for a 3-year term effective November 5, 2026.
Approved allotment of 1,64,413 equity shares to the ESOP Trust at a price of Rs. 556 per share.
Joint Statutory Auditors issued an Unmodified Opinion on the FY 2025-26 audited financial results.
👀 What to Watch
Investors seeking dividend income should ensure they hold shares before the May 8 record date. The re-appointment of the Managing Director provides stability and is a positive signal for the company's long-term strategic execution.
