Ramkrishna Forgings swung to a Q2 net profit of ₹71 crore, up 760% YoY, while revenue jumped 54.9% to ₹1,405.4 crore. The stock fell 4.03% to ₹645.10 on NSE, a ₹27.10 drop from the previous close.
EBITDA climbed 35.1% to ₹223.4 crore, taking the margin up from 13.5% to 18.2%. Compared with the 15.8% average in the metal‑forge sector, Ramkrishna outpaced peers on leverage and operating efficiency.
A new order book worth ₹673 crore was inked across commercial vehicles, railways and industrial segments, bolstering the company’s growth pipeline. This comes after the firm’s expansion of casting and aluminium forging capacity and a stronger presence in Mexico to serve international clients.
Managing Director Naresh Jalan said the focus remains on capacity utilisation and operational efficiencies, citing investments in new capabilities that have started to pay off. He added that the company aims to sustain growth momentum and strengthen cash flows while enlarging return on capital.
The board declared a ₹2 per share interim dividend, with a record date of 6 November 2026. It also approved a ₹56.76 crore increase in the investment limit for the Ramkrishna Titagarh Rail Wheels joint venture, signalling confidence in the rail‑wheel segment.
Ramkrishna’s next earnings call is slated for 15 December, where analysts will look for guidance on the new capacity utilisation and the impact of the JV investment. With a 24.91% YTD share gain, investors are watching whether the company can keep the upside momentum in a tightening cost environment.