Ramkrishna Forgings Ltd (RKFORGE) AI Stock Analysis

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Ramkrishna Forgings Ltd

(NSE:RKFORGE)

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Rating:57Neutral

Price Target:INR 791.00▲(0.86% Upside)

Action:reiterated

Date:11/12/26

The overall score of 57 is driven by a stark contrast between strong technical momentum and significant fundamental risks. While the stock is in a clear uptrend, its expensive valuation and severe fundamental challenges—such as plummeting net income and negative free cash flow—heavily weigh down the final rating.

Positive Factors

Strong Revenue GrowthSustained multi-year revenue expansion indicates that RKFORGE has been increasing the scale of its customer and product base. Continued growth can improve capacity utilization, deepen OEM relationships, and create a broader platform for future earnings recovery.

Negative Factors

Sharp Recent Earnings DeclineThe FY26 earnings decline shows that strong historical sales growth has not translated consistently into bottom-line expansion. Persistent profit volatility could weaken internal funding capacity, reduce returns on capital, and make future earnings less predictable.

Ramkrishna Forgings Ltd (RKFORGE) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 142.95B
Dividend Yield: 0.38%
Average Volume (3M): 38.76K
Price to Earnings (P/E): 76.2
Beta (1Y): 1.30
Revenue Growth: 25.19%
EPS Growth: -38.28%
Country: India
Employees: 3,180
Sector: General
Sector Strength: 55
Industry: Manufacturing - Metal Fabrication

Ramkrishna Forgings Ltd Business Overview & Revenue Model

Company Description

Established in 1981 and headquartered in Kolkata, India, Ramkrishna Forgings Limited stands as a prominent manufacturer and global supplier of a wide array of open and closed die forgings. The company's products are crafted from various materials, in...

How the Company Makes Money

RKFORGE makes money by manufacturing and selling forged (and often machined/finished) metal components to customers, with revenue recognized primarily from the sale of these products. Key revenue streams typically include (1) supply of components to...

Ramkrishna Forgings Ltd Financial Statement Overview

Summary

Ramkrishna Forgings has achieved significant revenue and asset growth, but struggles with profitability. Recent net income plummeted by over 82%, margins contracted severely, and the company has persistently generated negative free cash flow, requiring higher debt to fund operations.

Income Statement

50Neutral

Balance Sheet

65Positive

Cash Flow

45Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	49.37B	42.38B	40.34B	37.05B	31.93B	23.20B
Gross Profit	17.39B	12.37B	17.64B	15.92B	13.75B	9.90B
EBITDA	8.37B	6.27B	5.70B	7.73B	7.04B	5.17B
Net Income	1.87B	717.97M	4.15B	2.91B	2.48B	1.98B
Balance Sheet
Total Assets	77.29B	71.78B	65.57B	53.08B	37.30B	34.84B
Cash, Cash Equivalents and Short-Term Investments	1.50B	1.66B	290.49M	2.28B	555.92M	1.21B
Total Debt	22.99B	24.49B	21.26B	12.07B	13.33B	16.33B
Total Liabilities	41.34B	38.88B	35.20B	26.24B	24.09B	24.05B
Stockholders Equity	35.95B	32.90B	30.37B	26.84B	13.22B	10.78B
Cash Flow
Free Cash Flow	0	-2.73B	-11.06B	319.24M	3.89B	-2.57B
Operating Cash Flow	0	6.50B	-1.29B	6.21B	7.45B	430.57M
Investing Cash Flow	0	-9.37B	-9.14B	-11.17B	-2.99B	-3.54B
Financing Cash Flow	0	4.33B	8.86B	6.25B	-4.38B	2.80B

Ramkrishna Forgings Ltd Technical Analysis

Technical Analysis SentimentPositive

Last Price784.25

Price Trends

50DMA696.56Positive

100DMA669.39Positive

200DMA610.00Positive

Market Momentum

MACD20.62Negative

RSI66.53Neutral

STOCH93.35Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:RKFORGE, the sentiment is Positive. The current price of 784.25 is above the 20-day moving average (MA) of 680.75, above the 50-day MA of 696.56, and above the 200-day MA of 610.00, indicating a bullish trend. The MACD of 20.62 indicates Negative momentum. The RSI at 66.53 is Neutral, neither overbought nor oversold. The STOCH value of 93.35 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:RKFORGE.

Ramkrishna Forgings Ltd Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:RKFORGE against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:TIMKEN	75Outperform	INR 232.93B	51.76	―	0.16%	18.97%	-0.31%
IN:SKFINDIA	70Neutral	INR 73.06B	46.47	―	2.74%	-53.48%	-70.93%
IN:HARSHA	65Neutral	INR 42.19B	25.70	―	0.33%	22.34%	65.44%
IN:TIIL	63Neutral	INR 65.04B	19.28	―	0.69%	12.39%	33.51%
IN:RKFORGE	57Neutral	INR 143.13B	76.18	―	0.38%	25.19%	-38.28%
IN:STERTOOLS	56Neutral	INR 7.85B	64.89	―	1.31%	3.67%	-75.47%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%

* General Sector Average

Performance Comparison

IN:RKFORGE and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:RKFORGE	Ramkrishna Forgings Ltd	784.25	230.18	41.54%
IN:HARSHA	Harsha Engineers International Ltd.	460.95	60.89	15.22%
IN:SKFINDIA	SKF India Limited	1465.95	-549.99	-27.28%
IN:STERTOOLS	Sterling Tools Limited	213.25	-85.49	-28.62%
IN:TIIL	Technocraft Industries (India) Limited	2883.80	451.60	18.57%
IN:TIMKEN	Timken India Limited	3117.05	-0.33	-0.01%

Ramkrishna Forgings Ltd Corporate Events

Ramkrishna Forgings Files Q2 and H1 FY27 Earnings Call Transcript

Nov 6, 2026

The release identifies Ramkrishna Forgings Limited as a listed company, but provides no details about its industry, products, services, or market focus.The company filed the transcript of its Q2 and H1 FY27 earnings call, held on 30 October 2026, wit...

Ramkrishna Forgings Posts Q2 & H1 FY27 Investor Presentation

Oct 30, 2026

Ramkrishna Forgings Ltd has released its investor and earnings presentation for the second quarter and first half of FY 2026-27, covering financial and operational performance up to 30 September 2026. The presentation, now accessible on the company’s...

Ramkrishna Forgings Grants 550,000 ESOPs to Boost Employee Incentives

Oct 29, 2026

Ramkrishna Forgings Limited has granted 550,000 employee stock options under its RKF Limited Employee Stock Option Scheme 2023 to eligible staff, with an exercise price of Rs 598 per option. The grant, approved by the company’s Nomination and Remuner...

Ramkrishna Forgings Sets October 30 Earnings Call for Q2 and H1 FY27

Oct 27, 2026

Ramkrishna Forgings Limited has scheduled an earnings and conference call with analysts and investors on Friday, 30 October 2026, at 6:00 p.m. IST. The call will focus on discussing the unaudited financial results for the second quarter and first hal...

Ramkrishna Forgings Boosts Equity Capital with Rs 149.9 Crore Warrant Conversion

Sep 24, 2026

Ramkrishna Forgings Limited has allotted 3.4 million equity shares following the conversion of an equal number of preferential warrants previously issued to investor Chaitanya Jalan at a warrant issue price of Rs 588 each. With the receipt of the rem...

Ramkrishna Forgings Plans Investor Meetings in Mumbai

Sep 16, 2026

Ramkrishna Forgings Limited has scheduled a series of group meetings with analysts and institutional investors in Mumbai, beginning on 21 September 2026 at 10:00 A.M. onwards. The company has clarified that these interactions will be physical meeting...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 12, 2026

Ramkrishna Forgings Ltd AI Stock Analysis