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Ramkrishna Forgings Limited (RKFORGE) investor relations material
Ramkrishna Forgings Limited Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 FY26 faced global volatility, tariff impacts, and supply chain disruptions, but domestic business showed resilience, especially in railways and passenger vehicles, with new verticals and product launches supporting growth.
Board approved unaudited financial results for Q2 and H1 FY26, with statutory auditors expressing an unmodified conclusion.
Secured new contracts worth ₹1,116 crore in Q2 and ₹1,800 crore in H1 across Auto, Non-Auto, and Railways, reflecting diversification.
Preferential issue of up to 3.4 million convertible warrants to a promoter at ₹588 per warrant, aggregating to ₹199.92 crore, subject to approval.
New vertical in railway castings launched successfully, with strong order inflow and integration into bogey assemblies.
Financial highlights
Consolidated Q2 FY26 revenue was ₹908 crore, down 10.6% quarter-on-quarter but up 14% YoY; H1 FY26 consolidated revenue was ₹1,92,279 lakh, up 4% YoY.
Consolidated Q2 FY26 EBITDA was ₹12,254 lakh (13.5% margin), down 17.5% QoQ but up 26% YoY; H1 FY26 EBITDA was ₹27,115 lakh (14.1% margin), up 19% YoY.
Consolidated net loss of ₹9.5 crore in Q2 due to forex losses, tariff impacts, and operational losses in Mexico and JV; H1 FY26 consolidated net profit after tax was ₹19,433.14 lakh.
One-time losses in Q2 totaled ₹25.26 crore, including forex and tariff impacts.
Exceptional gain of ₹10,287.33 lakh from sale of Globe All India Services Ltd recognized in H1 FY26.
Outlook and guidance
Management maintains double-digit full-year revenue growth guidance, expecting significant improvement in H2 as global and US markets recover.
Volume growth of 18–20% expected in H2 FY26, driven by strong order pipeline and new product launches.
EBITDA margins expected to normalize to 15%-16% for the year, with further upside in Q3 and Q4.
CapEx cycle largely complete; minimal additional CapEx expected in H2 and FY27.
Board and management continue to focus on growth through strategic investments, including Mexico acquisition and rail wheel JV.
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