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Indian forging company making forged and machined components mainly for commercial vehicles, also railways and auto exports.
Indian forging company making forged and machined components mainly for commercial vehicles, also railways and auto exports.
Sells forgings, metal heated and pressed into shape, already machined to the customer's drawing, supplied to commercial-truck makers and their axle and transmission suppliers under long-running programs, with railways and exports as add-on lines. Truck-cycle demand therefore drives volumes, and machining raises the value of each sale.
Moat: narrow (process know-how, customer qualification). Long-standing forging capability qualified with major domestic and international CV/auto OEMs.
Headquarters: Jamshedpur, India · Founded: 1981 · Employees: 3,180
Size Ramkrishna Forgings (RKFORGE.NS) is an India Industrials company (Metal Fabrication) with a market value of $1.34B, the 506th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹693.85 on 6 Nov 2026.
Performance Over six months the shares gained 11.6%, against -27.9% for the median peer and 0.0% for the India market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 25.2% over the last twelve months (peer median +19.7%); the operating margin is 8.7% (peer median 7.7%).
Valuation It trades at 46.9× forward earnings against a peer median of 23.0× (4th most expensive of 15).
Capital Return on invested capital runs 10.5 points below its cost of capital (16.1% WACC).
Next results Next results expected around 15 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹49.4B | ₹41.4B | ₹39.2B | ₹36.1B | ₹30.8B |
| Revenue growth | — | +6% | +9% | +17% | — |
| Gross profit | ₹15.6B | ₹5.75B | ₹6.10B | ₹6.86B | ₹6.48B |
| EBITDA | ₹8.04B | ₹5.35B | ₹4.76B | ₹6.82B | ₹5.99B |
| Net income | ₹1.87B | ₹718M | ₹4.15B | ₹2.91B | ₹2.48B |
| Free cash flow | n/a | -₹2.73B | -₹11.1B | -₹1.01B | ₹2.76B |
| Capital expenditure | n/a | ₹9.25B | ₹9.77B | ₹5.89B | ₹3.57B |
| Total debt | ₹23.0B | ₹24.5B | ₹21.3B | ₹12.1B | ₹13.3B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Ramkrishna Forgings RKFORGE.NS | $1.34B | +12% | +25% | 9% | 46.9× | n/a |
| Bharat Forge BHARATFORG.NS | $9.01B | -13% | +18% | 11% | 51.4× | 46.3% |
| Happy Forging HAPPYFORGE.NS | $1.70B | +20% | +16% | 25% | 40.5× | 42.7% |
| Sona BLW Precision Forgings SONACOMS.NS | $5.94B | +56% | +42% | 17% | 63.7× | 48.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | RKFORGE.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.1% | -5.9% | 10th highest of 21 |
| 6-month return | +11.6% | -27.9% | 3rd highest of 21 |
| Distance from 52-week high | -10.2% | -49.1% | 2nd highest of 21 |
| Revenue growth (TTM) | +25.2% | +19.7% | 8th highest of 21 |
| Operating margin | 8.7% | 7.7% | 9th highest of 21 |
| Forward P/E | 46.9× | 23.0× | 4th most expensive of 15 |
| ROIC minus cost of capital | -10.5 pp | -2.3 pp | 3rd lowest of 21 |
| EV / EBITDA | 18.4× | 11.6× | 2nd most expensive of 5 |
| Net debt / EBITDA | 2.7× | 1.4× | most indebted of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Ramkrishna Forgings RKFORGE.NS | India | $1.34B | +12% | +25% | 9% | 46.9× | n/a | n/a |
| Wuxi Paike New Materials and Technology 605123.SS | China | $1.34B | -31% | +23% | 8% | 22.0× | n/a | n/a |
| Riyue Heavy Industry 603218.SS | China | $1.41B | -28% | -17% | 5% | 24.6× | 5.0% | +4.1% |
| Freewon China 688678.SS | China | $1.41B | -13% | +33% | 6% | 19.6× | n/a | n/a |
| Hunan Boyun New Materials 002297.SZ | China | $1.25B | -41% | +37% | 15% | n/a | n/a | n/a |
| Guangdong Xianglu Tungsten 002842.SZ | China | $1.23B | -38% | +126% | 15% | n/a | n/a | n/a |
| Shanghai Unison Aluminium Products 603418.SS | China | $1.23B | -18% | +26% | 11% | n/a | n/a | n/a |
| Qingdao Yunlu Advanced Materials Technology 688190.SS | China | $1.22B | -17% | -2% | 12% | 21.9× | 20.5% | +21.5% |
| Richelieu Hardware RCH.TO | Canada | $1.48B | -2% | +7% | 7% | 20.5× | 5.7% | +11.7% |
| Dongguan Eontec 300328.SZ | China | $1.18B | -37% | +9% | -9% | 569.5× | n/a | n/a |
| HENGHUI Technology 301678.SZ | China | $1.53B | -28% | +10% | 8% | n/a | n/a | n/a |
| Shenzhen Vital New Material 301319.SZ | China | $1.53B | +15% | +34% | 5% | 82.0× | n/a | n/a |
| Usha Martin USHAMART.NS | India | $1.54B | 0% | +9% | 17% | 22.8× | 23.1% | +12.0% |
| Luoyang Xinqianglian Slewing Bearing 300850.SZ | China | $1.54B | -42% | +10% | 21% | 11.1× | n/a | n/a |
| Essence Fastening Systems (Shanghai) 301005.SZ | China | $1.54B | -55% | +17% | 0% | n/a | n/a | n/a |
| OKE Precision Cutting Tools 688308.SS | China | $1.15B | -49% | +79% | 25% | 13.6× | n/a | n/a |
| Suzhou UIGreen Micro&Nano Technologies 688661.SS | China | $1.55B | -44% | -7% | -3% | 44.2× | n/a | n/a |
| Baotou Tianhe Magnetics Technology 603072.SS | China | $1.13B | -24% | +22% | 8% | n/a | 24.9% | +15.3% |
| Jiangsu Gian Technology 300709.SZ | China | $1.10B | -5% | +17% | 0% | 37.4× | n/a | n/a |
| Jiangsu Chint Power Technology 002150.SZ | China | $1.10B | -30% | +23% | 11% | 23.2× | n/a | n/a |
| Changzhou Nrb 002708.SZ | China | $1.63B | +50% | +29% | 1% | 74.0× | n/a | n/a |