Ramkrishna Forgings Limited has informed the Exchange about Investor Presentation
Date: 1 June, 2025
To The Listing Department BSE Limited PJ Towers Dalal Street Mumbai – 400 001
BSE SCRIP CODE: 532527
Dear Sir/Madam,
To The Listing Department National Stock Exchange of India Limited “Exchange Plaza” C-1, Block G Bandra- Kurla Complex, Bandra (E) Mumbai- 400051 NSE SYMBOL: RKFORGE
Sub: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 – Q4 & FY 2025 Investor Presentation
Please find enclosed herewith a copy of the Q4 & FY 2025 Investors Presentation of the Company for the Quarter and Financial Year ended on 31 March, 2025.
Copy of the same is being also made available on the website of the Company at www.ramkrishnaforgings.com.
Kindly take the aforementioned information on record and oblige.
Thanking You.
Yours truly,
For RAMKRISHNA FORGINGS LIMITED
Rajesh Mundhra Company Secretary & Compliance Officer ACS 12991
Encl.: As above
REGISTERED & CORPORATE OFFICE 23 CIRCUS AVENUE, KOLKATA 700017, WEST BENGAL, INDIA PHONE: (+91 33)4082 0900 / 7122 0900, FAX: (+91 33)4082 0998 / 7122 0998, EMAIL: info@ramkrishnaforgings.com, WEB: www.ramkrishnaforgings.com
Innovation Engineered For Excellence
Investor Presentation
Q4 & FY25
Q4 & FY25 Financial Overview
Q4 & FY25 Financial Highlights
Standalone
Consolidated
Q4 FY25
FY25
Q4 FY25
FY25
₹ 80,962 Lakhs
10%
₹ 3,63,430 Lakhs
4%
₹ 94,721 Lakhs
3%
₹ 4,03,411 Lakhs
9%
Revenue from Operations
YoY Growth
Revenue from Operations
YoY Growth
Revenue from Operations
YoY Growth
Revenue from Operations
YoY Growth
₹ 8,936 Lakhs
48%
₹ 48,934 Lakhs
34%
₹ 9,850 Lakhs
48%
₹ 55,956 Lakhs
28%
YoY Growth
11.0%
EBITDA & Margin
YoY Growth
13.5%
EBITDA & Margin
YoY Growth
10.4%
EBITDA & Margin
YoY Growth
13.9%
EBITDA & Margin
14.3%
ROE
11.7%
ROE
FY24 numbers have been restated pursuant to the merger of ACIL with Ramkrishna Forgings Limited
Investor Presentation – March 2025
3
Key Performance Indicators (Standalone)
Revenue*
EBITDA* & EBITDA Margin (%)
PAT & PAT Margin (%)#
89,589
96,756
-10%
80,962
-48%
17,229
10,819
8,936
Q4 FY24
Q3 FY25
Q4 FY25
Q4 FY24
19.2%
Q3 FY25
11.2%
Q4 FY25
11.0%
+4%
3,63,430
3,49,933
74,279
-34%
48,934
5,777
Q4 FY24
6.4%
1,526
Q3 FY25
1.6%
+260% 20,785
Q4 FY25
25.7%
+47%
40,182
27,405
8,816
Exceptional Item, 2.5%
31,366
PAT, 8.6%
FY24
FY25
FY24
21.2%
FY25
13.5%
FY24
7.8%
FY25
11.1%
*Excluding Other Income; Note: Rounded off to the nearest whole number. # PAT includes exceptional gains from the sale of Globe All India Services Limited in 12M FY25. PAT also includes tax gain on account of merger with ACIL in Q4 & 12M FY25 EBITDA and PAT numbers have been restated for earlier years giving effect of discrepancy in Inventory as per the interim report of fact-finding study FY24 numbers have been restated pursuant to the merger of ACIL with Ramkrishna Forgings Limited
(₹ in lakhs) 4
Investor Presentation – March 2025
Key Performance Indicators (Consolidated)
Revenue*
EBITDA* & EBITDA Margin (%)
97,396
1,07,378
-3%
94,721
-48%
18,785
12,632
9,850
Q4 FY24
Q3 FY25
Q4 FY25
Q4 FY24
19.3%
Q3 FY25
11.8%
Q4 FY25
10.4%
+9%
4,03,411
3,70,454
77,291
-28%
55,956
PAT & PAT Margin (%)#
206%
19,983
6,528
Q4 FY24
6.7%
2,090
Q3 FY25
1.9%
28,288
Q4 FY25
21.1%
+17%
33,155
8,150
Exceptional Item, 2.0%
25,005
PAT, 6.2%
FY24
FY25
FY24
20.9%
FY25
13.9%
FY24
7.6%
FY25
8.2%
*Excluding Other Income; Note: Rounded off to the nearest whole number. # PAT includes exceptional gains from the sale of Globe All India Services Limited in 12M FY25. PAT also includes tax gain on account of merger with ACIL in Q4 & 12M FY25 EBITDA and PAT numbers have been restated for earlier years giving effect of discrepancy in Inventory as per the interim report of fact-finding study FY24 numbers have been restated pursuant to the merger of ACIL with Ramkrishna Forgings Limited
(₹ in lakhs) 5
Investor Presentation – March 2025
Volumes and Realisation
Volume (tons)
Realisation (Rs. Lac/ (ton))
Volume (tons)
Realisation (Rs. Lac/ (ton))
-5%
45,198
38,127
14,951
30,247
12,565
25,562
39,940
16,528
23,412
2.42
2.50
2.46
1.85
1.79
1.77
+4%
1,65,251
58,900
1,58,428
58,739
99,689
1,06,351
Q4 FY24
Q3 FY25
Q4 FY25
Q4 FY24
Q3 FY25
Q4 FY25
FY24
FY25
2.50
1.85
FY24
2.52
1.86
FY25
Total Revenue Breakup (Rs. Lakhs.)*
Particulars
Q4 FY25
Q4 FY24
Domestic Markets
49,346
48,632
Export Markets
30,936
40,082
Other Income & Export Incentive
1,685
2,259
Total
81,967
90,973
Domestic Markets
Export Markets
Total Revenue Breakup (Rs. Lakhs.)*
YoY
1%
-23%
-25%
-10%
Q3 FY25
58,569
37,388
1,083
97,040
QoQ
-16%
-17%
56%
-16%
Particulars
Domestic Markets
Export Markets
FY25
FY24
2,12,053
1,99,457
1,48,209
1,47,140
YoY
6%
1%
Other Income & Export Incentive
5,032
5,690
-12%
Total
3,65,294
3,52,287
4%
Note: Data is on standalone basis unless stated otherwise. *FY24 numbers have been restated pursuant to the merger of ACIL with Ramkrishna Forgings Limited
Investor Presentation – March 2025
6
Ownership and Value Creation
Shareholder Structure
Dividend Distributed (Rs. Cr)
Key Shareholders
Public Shareholding 25.89%
Promoters 43.13%
FIIs 24.98%
Mutual Funds/AIF/QIB 6.00%
Smallcap World Fund, Inc
Lata Bhanshali
Akash Bhanshali
32
35
36
Nomura India Investment Fund Mother Fund
Blue Diamond Properties Pvt Ltd
Blue Lotus Investment Fund
Massachusetts Institute of Technology
Aditya Birla Sun Life Trustee Private Limited
14,008 Mar ‘25
499 Mar ‘20
Market Cap. (Rs. Cr)
6
FY19
4.9%
As a %of PAT
8
Payal Bhanshali
FY22
4.0%
FY23
12.9%
FY24
10.1%
FY25
10.9%
Life Insurance Corporation of India
Sixteenth Street Asian Gems Fund
Aadi Financial Advisors Llp
*In view of subdued profits, the Board has not recommended any dividend for FY20 & FY21.
As on 31st March 2025
7.78%
2.91%
2.24%
2.00%
1.46%
1.33%
1.28%
1.25%
1.19%
1.13%
1.06%
1.03%
Investor Presentation – March 2025
7
Consolidated Debt movement for FY25
Particulars (₹ in crore)
EBITDA
Less Interest paid
Less Tax paid
Free Cash Flow –(a)
Cash Outflow
Investment in Property, Plant & Equipment
Investment in wheel project*
Additional Working Capital During the Year
Total-(b)
Net (b)-(a)
Opening Net Debt
Closing Debt
Net Increases in Debt
Working Capital Changes
Total
FY25
560
166
136
258
976
116
273
1,365
1,107
818
1,821
1,003
104
1,107
*As on March 31, 2025 the total investment in wheel project is Rs 181 Crores
Investor Presentation – March 2025
8
About Ramkrishna Forgings
Corporate Structure
RKFL
Domestic
International
Joint Venture
Ramkrishna Casting Solutions Ltd. (Formerly JMT Auto )
Multitech Auto Private Limited
MAL Metaliks Pvt. Ltd. (100% stepdown subsidiary)
Ramkrishna Forgings LLC, USA
Ramkrishna Forgings Mexico S.A. de C.V (Mexico)
Ramkrishna Titagarh Rail Wheels Ltd RKFL (51%) Titagarh (49%)
(Being merged with Ramkrishna Casting Solutions Limited)
100% Wholly Owned Subsidiaries
Investor Presentation – March 2025
10
Update on Rail Wheel Project
Ramkrishna Forgings & Titagarh Rail Systems Consortium received an LOA for Manufacturing and Supplying of Forged Wheels for the Indian Railways.
Ramkrishna Forgings holds a 51% stake in the Joint Venture and is the lead partner in this railway contract.
The company will establish Asia’s 2nd largest manufacturing plant in India to produce 228,000 forged wheels per annum.
The total project cost is estimated at ₹2,000 crores, which is being funded through a mix of debt and equity.
As on March 31, 2025, Rs 345 crores has been infused as equity in the JV.
Project at Chennai, Tamil Nadu and construction work at site is progressing as per schedule.
All machines for the project have been ordered and the delivery of the machine also started. Installation of forging press in under progress.
Operations are expected to begin by Jan’26.
Investor Presentation – March 2025
11
Update on Mexico Facility
Ramkrishna Forgings Limited has acquired a company in Mexico and the same is named as Ramkrishna Forgings Mexico S.A. de C.V.
The Company has taken a factory space on lease at Monterrey, Mexico, and has already commenced its machining operations along with storage.
Current Machining is done on Machines supplied by a North American customer on Forgings also supplied by them
Further we have also received orders for machining from a North America based customer.
Discussions are on for existing portfolio as we are facing strong traction for requirements from Mexico.
Investor Presentation – March 2025
12
Multiple Vectors To Accentuate Growth And Increase Profitability
Global Markets
Further geographic presence to enhance capture global market opportunities
Inorganic Opportunities
Explore inorganic opportunities offering strategic benefits
Expanding Capabilities
Expand our manufacturing capacities
Focus on EV
Focus on increasing revenue share of EV business
Diversification Strategy
Continue the diversification strategy with increasing focus on non-automotive categories
Investor Presentation – March 2025
13
687
Total Auto – 524 Cr
Total Non Auto – 163 Cr
Value (Rs. Cr)
Order Wins in Q4
Railways 23
Non Auto 163
Auto 524
414
273
Domestic
Export
Total (Excl. Rly)
CV 463
The Company received new orders worth Rs 710Cr in Q4, program life being 4 years
74% of the new order wins are from the automotive segment while 23% coming from Non-Automotive Segment in line with the diversification strategy
RKFL is looking at the next level of growth coming in from the Passenger Car segment with revenue stream starting from FY27.
For Indian Railways, the company has received order to supply Fully Assembled Bogie Frames. It will thus be able to demonstrate the full potential for the fabrication business – The natural progression from Individual frames to bolsters and finally Full Assemblies is complete
0 Domestic
PV 61
PV
61
145
163
18
Domestic
Export
Total (Non Auto)
CV
335
463
61
128
Export
Total (PV)
Domestic
Export
Total (CV)
Investor Presentation – March 2025
14
Well Positioned To Capture Future Growth
Summary Summary on on Capacity Capacity Expansion Expansion
8000T Press
Press in Final Stage of Commissioning
Heavy Components for CV & Off Highway
3000T Press
Press under Installation
Aluminum Forged Components for EV
1600T Press
Press installed
Components for 2W, PV and LV
900T Cold Forging Press
Press Commissioned & Production Started
Components for LV
Horizontal Moulding Line
under commissioning
Components for Castings
The company in its endeavor to expand its product offering to suit the needs to varied customer segments, has made investments into specific technologies in Forgings & Castings
Forging Capacity for the Company on consolidated level shall increase to 333,400MT per Annum and Casting capacity shall increase to 62,400MT per Annum
15
Investor Presentation – March 2025
Our Commitment
Key Sustainability Highlights Where Growth Meets Green: Progress Update1
11%
reduction in grid electricity intensity per unit of production
Reduction in Emission intensity per unit of production
7%
11% Reduction in groundwater consumption
Increase in renewable energy mix
137%
Total renewable energy consumption has increased to 3.4% in FY 2025 from 1.4% in FY 2024
1 Note: The above is year-on-year update on ESG performance
CBAM Undertaken CBAM reporting for Tier 1 and Tier 2 European customers in CY2024
Committed to regulatory compliance and environmental sustainability
increase in recycled wastewater
52%
99% Permanent employees trained on ESG
99%
Permanent employees trained on Human Rights
Investor Presentation – March 2025
17
Our Goals and Initiatives
Committed to preserving and protecting the environment and supporting the local community
Our Goals and Target Year
Progress from FY2024
Key Initiatives
Water Management
Reduce specific water use by 30%
Achieve 100% water recycling
Waste Management
Reduce total waste generation by 50%
Achieve 100% Renewable Energy
11% decrease in groundwater consumption
52% increase in wastewater recycling
3% decrease in waste intensity
137% increase in RE energy mix
2025
2030
2033
GHG Emissions & Energy Management
Employee Wellbeing
Achieve Net Zero
2040
140% reduction In Emission intensity per unit of production
Train 100% employees on ESG
Train 100% employees on Human Rights
2025
2025
99% Permanent employees trained
99% Permanent employees trained
Community Support
Launch a flagship CSR program across all plants
2030
Community Upliftment through infrastructure, healthcare and waste management
•
To decrease total water usage and domestic water consumption, water saving measures have been implemented across all plants such as: o Installation of water-saving fixtures like dual flush systems, mist aerators, and electronic urinals. o Minimizing freshwater use through flow control, RO reject reuse, and regular leak checks.
Achieved decrease in waste intensity per unit of production as a result of implementation of 9R Waste Management framework across all plants
Increased renewable energy mix in the form of solar energy consumption to 3.4% in FY 2025 from 1.4% in FY 2024 which is a 137% increase in renewable energy mix Y-o-Y. 11% reduction in Emission intensity achieved per unit of production. 7% reduction in in grid electricity intensity achieved per unit of production. Procured 100% renewable energy for its Head Office in Kolkata from 1st Jan’25
Undertaken contractual employees training on ESG and Human Rights principles. Undertaken a Human Rights Due Diligence survey in FY 2025. Achieved ‘Great Place to Work’ Certification for the second year in a row.
Completed the construction of 514 meters of concrete road, enhancing local infrastructure as part of our community support initiatives. Organized 4 health camps in FY2025 across villages in Gamharia and Saraikela offering comprehensive medical facilities to 797 beneficiaries. Developed 8 ponds in Jamshedpur, enhancing local water infrastructure, enabling groundwater recharging in water stressed villages (Choda, Masleva, Domjuri, Kendudih, Rameswar, Lakadbad) for the benefit of the local community. Provided 1000 household dustbins to local households, improving waste management in the area and enhancing local sanitation conditions.
18
Investor Presentation – March 2025
Towards Net Zero: Scope 3 Accounting Navigating Scope 3 Emissions for Long-Term Sustainability
We have completed the Scope 3 Inventorization at RKFL across the following eight categories in alignment with the GHG Protocol Standard:
“
For RKFL, Scope 3 is the biggest part of their overall GHG impact, calculating scope 3 was essential to understand key areas of impact like – raw materials, logistics.
“
We have developed a detailed decarbonization roadmap focusing on major emission categories identified in our scope 3 inventory. Our hotspots include Purchased Goods and Services, Upstream Emissions from Fuel and Energy, and Upstream & Downstream Transportation. We are exploring high-level strategies to address these areas.
Scope 3 Categories
Description
% contribution
Purchased Goods and Services
1
3
4
9
5
6
7
9
12
Purchased Goods and Services
Fuel and Energy related activities
Upstream Transportation and Distribution
Downstream Transportation and Distribution
Other Categories
Total
75.2%
10.7%
5.9%
6.2%
2%
100%
Development of Supply chain assessment framework
Techno Commercial Assessment for green steel transition
Explore collaborative partnerships with Industry Associations and academia for green steel
Alignment with and tracking Indian Taxonomy for Green Steel
Upstream Emissions from Fuel and Energy
Our Commitment to decarbonization of scope 1 and 2 by 2033
Natural Transition of India’s Power sector infrastructure with increased reliability and reduced T&D Losses
Transition of India towards higher Renewable Energy Adoption
Upstream & Downstream Transportation and Distribution
Transition to Greener Logistics Options like – Electric Trucks, Hydrogen based Trucks
Modal Shift – Transportation from high emission intensive mode of transportation to low emission intensive mode of transportation (Road to Rail, Air to Sea)
Route Optimization through Digital solutions
Investor Presentation – March 2025
19
Conference Call Details
Q4 & FY25 EARNINGS CALL
Time
08:30 AM. IST on 2nd June 2025
Pre-registration
HOSTED BY:
To enable participants to connect to the conference call without having to wait for an operator, please register at the below mentioned link:
Disclaimer: This presentation by Ramkrishna Forgings Limited (“Company”) is for informational purposes only and does not constitute an offer or solicitation to buy or sell securities. The Company disclaims any liability for omissions or errors. Certain statements herein are forward-looking and involve risks and uncertainties that may cause actual results to differ materially. The Company undertakes no obligation to update such statements.
20
Investor Presentation – March 2025
Thank You
Mr. Lalit Kumar Khetan (Whole Time Director & CFO)
Ramkrishna Forgings Limited
Email: lalit.khetan@ramkrishnaforgings.com
Mayank Vaswani / Mit Shah
CDR India
Tel: +91 98209 40953 / +91 99201 68314
Email: mayank@cdr-india.com / mit@cdr-india.com