Q3 2026 Ramkrishna Forgings Ltd Earnings Call Transcript
Key Points
- Ramkrishna Forgings Ltd (BOM:532527) reported a 21% quarter-on-quarter revenue growth, driven by strong domestic market performance.
- The company successfully commissioned its aluminum forging facility and commenced commercial production, with the casting facility expected to follow in Q4 FY26.
- New orders worth INR680 crores were secured during the quarter, with a significant portion from the automotive sector, reflecting progress in diversification.
- The company is seeing strong momentum in the railway segment, with bulk supplies to Indian Railways and a potential demand worth INR2,000 crores.
- Ramkrishna Forgings Ltd (BOM:532527) is expanding its global footprint with a machining facility in Mexico nearing commissioning, enhancing its manufacturing capabilities.
- The company faced challenges from geopolitical tensions, currency volatility, and elevated input costs, impacting overall sentiment.
- Forging capacity utilization decreased to 66% in Q3 FY26 from 79% in the previous year, attributed to demand softness and ramp-up in new capacities.
- North America exports declined to 55% from 71% in the last nine months of FY25, reflecting a slowdown in the region.
- The company's EBITDA margin, although improved, remains below historical levels, with efforts ongoing to return to 19-20% margins.
- Realizations in the domestic market have not improved significantly year-on-year, with stable commodity prices and product mix affecting margins.
Hello, everyone. On behalf of IIFL Capital, I welcome you all to the 3Q FY26 results conference call of Ramkrishna Forgings. I also welcome the senior management of Ramkrishna Forgings.
We have with us Mr. Naresh Jalan, Managing Director; Mr. Chaitanya Jalan, Whole time Director; Mr. Lalit Khetan, Whole time Director and CFO; Mr. Milesh Gandhi, Whole time Director; and Mr. Rajesh Mundhra, VP Finance and Company Secretary. Now I'll hand over the call to the management. Over to you, sir.
Thank you, Joseph. Good evening, everyone, and thank you for joining us on this call to discuss the Q3 nine-month FY26 earnings. I trust all of you have had a chance to review the earnings document that we have shared earlier today.
Q3 FY26 was a mixed quarter marked by a combination of emerging opportunities and continued volatility in the global operating environment. Geopolitical tension, more frequent headlines around tariff actions
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