Ramkrishna Forgings Q2 FY27: Revenue surges 54.9% to ₹1,405 Crore, EBITDA up 108%
Ramkrishna Forgings Q2 FY27 revenue surged 54.9% YoY to ₹1,405 crore. EBITDA grew 108% to ₹256 crore with margins improving to 18.23%. Profit after tax was ₹71 crore. The company secured new orders worth ₹673 crore and reduced debt by ₹126 crore in H1 FY27, maintaining its ₹500 crore reduction target for FY27.
The substantial increase in revenue and profitability, along with new order wins and debt reduction targets, are material financial events that are likely to have a significant impact on investor sentiment and the company's valuation.
The company reported strong year-on-year growth in revenue and EBITDA, significant margin expansion, and debt reduction, indicating a positive financial performance and outlook.
Ramkrishna Forgings Limited (RKFORGE) announced its unaudited financial results for the quarter and half-year ended September 30, 2026. The company reported a significant year-on-year growth in consolidated revenue from operations, which stood at ₹1,405 crore for Q2 FY27, a 54.9% increase compared to ₹908 crore in Q2 FY26. Sequentially, revenues grew by 15.5% from ₹1,217 crore in Q1 FY27.
Consolidated EBITDA, excluding other income, reached ₹256 crore, more than doubling from ₹123 crore in the corresponding quarter last year and increasing from ₹218 crore in Q1 FY27. The EBITDA margin improved to 18.23% for the quarter, up from 13.5% in Q2 FY26 and 17.96% in the previous quarter. Profit before tax for the quarter was ₹95 crore, a substantial turnaround from a loss of ₹10 crore in Q2 FY26 and an increase from ₹65 crore in Q1 FY27. Profit after tax stood at ₹71 crore, up 47% quarter-on-quarter.
During H1 FY27, the company reduced its debt by ₹126 crore, maintaining its guidance to reduce total debt by ₹500 crore for FY27. The company secured new order wins worth ₹673 crore across CV, EV, LV, and Farm Equipment segments, with a program life of approximately 4 years. Of these, 48% were from the domestic market and 52% from exports. Notably, ₹447 crore of these orders are from the casting business, with ₹272 crore specifically for North American export markets for light vehicle applications.
The company is also progressing well with its railway wheels JV, with the first batch of 300 wheels ready for inspection and expecting to start initial production of 2,000-3,000 wheels in December 2026, scaling up to 4,000-5,000 wheels per month by Q4 FY27. For the full fiscal year, the JV expects to supply 20,000-25,000 wheels.
Management expressed confidence in the business outlook, citing a healthy order pipeline and a diversified product portfolio supporting growth in both domestic and international markets. They expect continued growth and profitability driven by high utilization of existing capacity, an improved product mix, and operating discipline.
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