RKFORGENSE12 November 2025

Ramkrishna Forgings Limited has informed the Exchange about Investor Presentation

Ramkrishna Forgings Limited

Date: 12 November, 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: Announcement under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements) Regulations, 2015 – Q2 & H1 FY 2025-26 Investors Presentation

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed copy of the Q2 & H1 FY 2025-26 Investors Presentation for the Quarter ended 30 September, 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

Q2 & H1 FY26

Safe Harbor

This presentation and the accompanying slides (the “Presentation”), which have been prepared by Ramkrishna Forgings Limited (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the Company’s ability to successfully implement its strategy, the Company's future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cashflows, the Company's market preferences and its exposure to market risks, as well as other risks. The Company's actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward- looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections.

All Maps used in the Presentation are not to scale. All data, information and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness

Investor Presentation – November 2025

Contents

About Ramkrishna Forgings

Multiple Vectors to Accentuate Growth

Our Commitment

Update on Subsidiary and Joint Venture

Q2 & H1 FY26 Financial Overview

Investor Presentation – November 2025

Q2 & H1 FY26 Financial Overview

Q2 & H1 FY26 Financial Highlights

Standalone

Consolidated

Q2 FY26

H1 FY26

Q2 FY26

H1 FY26

₹ 80,079 Lakhs

18%

₹ 1,73,748 Lakhs

₹ 90,753 Lakhs

14%

₹ 1,92,279 Lakhs

Revenue from Operations

YoY Growth

Revenue from Operations

YoY Growth

Revenue from Operations

YoY Growth

Revenue from Operations

YoY Growth

₹ 10,789 Lakhs

25%

₹ 24,265 Lakhs

17%

₹ 12,254 Lakhs

26%

₹ 27,115 Lakhs

19%

13.5%

YoY Growth

14.0%

YoY Growth

13.5%

YoY Growth

14.1%

YoY Growth

EBITDA & Margin

Investor Presentation – November 2025

MD’s Insights and Reflections

“In the face of persistent global volatility—marked by evolving geopolitical dynamics, currency movements, and input cost fluctuation —

we have reported consolidated revenues of ₹908 crore for the quarter. This performance underscores our ability to navigate external

headwinds with resilience and reflects the sharp focus on execution and customer commitment.

Our international business continues to experience short-term impact from tariff-related uncertainties, with applicable tariff on exports

from India. Encouragingly, prospects of an imminent trade agreement offer a clear path to resolution. As shared earlier, the exposure

remains limited, as a significant share of exports is supplied to proximate manufacturing hubs of our North American customers.

At the same time, our ongoing efforts to strengthen and diversify our domestic presence are bearing fruit. We are witnessing healthy

traction in the Railways segment, where our products are being assembled into bogies. The newly launched vertical supplying castings

to Railways has made a promising start and is well-positioned to accelerate growth in the coming quarters.

Momentum in expanding our order book remains strong. During the quarter, we secured new contracts worth ₹1116 crore across the

Auto, Non-Auto, and Railways sectors—reflecting our diversified capabilities and enduring customer trust.

Looking ahead, we remain focused on driving sustainable growth and long-term value creation. Key priorities include the introduction of

new products, optimization of capacity utilization, and continued diversification of our revenue base. Backed by strategic agility and

MR. NARESH JALAN

operational discipline, we are well poised to capture emerging opportunities across domestic and global markets.”

Investor Presentation – November 2025

Key Performance Indicators (Standalone)

Revenue*

EBITDA* & EBITDA Margin (%)

PAT & PAT Margin# (%)

97,077

93,669

18%

80,079

14,393

13,477

25%

10,789

13,612

Exceptional Item, 9.1%

8,816

PAT, 4.9%

4,796

100%

2,151

Q2 FY25

Q1FY26

Q2FY26

Q2 FY25

14.8%

Q1FY26

14.4%

Q2FY26

13.5%

Q2 FY25

Q1FY26

Q2FY26

14.0%

2.3%

0.1%

1,85,711

1,73,748

29,171

17%

24,265

H1 FY25

H1 FY26

H1 FY25

15.7%

H1 FY26

14.0%

*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 Q2 FY25 and H1FY25. Q2FY25 and H1FY25 numbers have been restated pursuant to the merger of ACIL with Ramkrishna Forgings Limited

17,865

Exceptional Item, 4.7%

8,816

PAT, 4.9%

9,049

H1 FY25

9.6%

88%

2,188

H1 FY26

1.3%

(₹ in lakhs) 7

Investor Presentation – November 2025

Key Performance Indicators (Consolidated)

Revenue*

EBITDA* & EBITDA Margin (%)

PAT & PAT Margin (%)#

1,05,363

1,01,526

14%

90,753

16,571

14,861

26%

12,254

107%

13,960

Exceptional Item, 7.7%

8,150

PAT, 5.5%

5,810

1,179

-950

Q2 FY25

Q1FY26

Q2FY26

Q2 FY25

15.7%

Q1FY26

14.6%

Q2FY26

13.5%

Q2 FY25

Q1FY26

Q2FY26

13.2%

1.2%

-1.0%

2,01,311

1,92,279

33,477

19%

27,115

H1 FY25

H1 FY26

H1 FY25

16.6%

H1 FY26

14.1%

19,433

Exceptional Item, 4.1%

8,150

PAT, 5.6%

11,283

H1 FY25

9.7%

99%

229

H1 FY26

0.1%

(₹ in lakhs) 8

Investor Presentation – November 2025

Volumes and Realisation

Volume (tons)

Realisation (Rs. Lac/(ton))

Volume (tons)

Realisation (Rs. Lac/(ton))

43,387

44,171

16,062

13,357

27,325

30,814

39,409

12,646

26,763

2.52

1.79

2.39

1.78

2.19

1.72

81,926

31,384

50,542

83,580

26,003

57,577

2.54

1.81

2.29

1.75

Q2 FY25

Q1FY26

Q2FY26

Q2 FY25

Q1FY26

Q2FY26

H1 FY25

H1 FY26

H1 FY25

H1 FY26

Total Revenue Breakup (Rs. Lakhs.)*

Domestic Markets

Export Markets

Particulars

Q2 FY26

Q2 FY25

Domestic Markets

51,642

55,594

Export Markets

27,797

40,618

Other Income & Export Incentive

1,454

866

YoY

-7%

-32%

68%

Q1 FY26

61,093

31,875

1,142

QoQ

-15%

-13%

27%

Particulars

Domestic Markets

Export Markets

H1 FY26

H1 FY25

1,12,736

1,03,982

YoY

59,672

79,885

-25%

Other Income & Export Incentive

2,596

2,420

Total

80,893

97,078

-17%

94,110

-14%

Total

1,75,004

1,86,287

-6%

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 – November 2025

Capacity Utilization

Production (MT)

Q2 FY26

Q1 FY26

Q2 FY25

Particulars

Installed Capacity

FY25

FY24

Production (MT)

Utilization (%)*

Production (MT)

Utilization (%)*

Production (MT)

Utilization (%)*

Ring Rolling

24,000

32,541

32,533

Forgings

70,350

47,352

49,054

5,267

9,341

Press

1,74,050#

1,16,130

105,558

25,893

Total Capacity

2,68,400#

1,96,023

187,145

40,501

88%

53%

60%

7,824

130%

8,532

142%

10,418

28,231

46,473

59%

65%

69%

12,420

28,637

49,589

89%

77%

87%

* Utilization (%) has been calculated on installed capacity on Annualized basis; # Capacity increased for Press Facility from 130,800 MT to 149,050 MT on April 03, 2024 and from 149,050MT to 174,050MT on January 31, 2025. Forging Capacity increased from 56,100MT to 70,350MT on March 27, 2025. Total Capacity has increased from 210,900 MT to 229,150 MT from April 03, 2024, and the same increased to 254,150MT on January 31, 2025 and to 268,400MT on March 27, 2025.

Investor Presentation – November 2025

Order Wins in Q2 and H1FY26

Railways- Casting, 200

Railways, 96

Non Auto , 43

Q2FY26 Rs 1116 Cr

Railways, 119

Non Auto, 142

Railways - Casting, 200

H1Y26 Rs 1800 Cr

Auto, 777

Auto , 1,339

Auto

Non Auto

Railways

Railways- Casting

Auto

Non Auto

Railways

Railways - Casting

During Q2, the Company secured new orders worth ₹1116 crore, with a program life of four years, excluding the Railway segment.

Approximately 69% of these orders were from the automotive segment, 27% from Railways, and the balance 4% from the non-automotive segment, reflecting continued progress in the Company’s diversification strategy.

For Indian Railways, the company has received order for supply of Fully Assembled Bogie Frames, with required approvals now in place, bulk dispatches have commenced.

Excluding Railways, all orders won during the quarter were from international geographies

Investor Presentation – November 2025

Way Forward

The Company expects a Volume growth of 18–20% expected in H2 FY26, supported by strong pipeline of orders

Major Growth drivers:

− Railways - Approval received and bulk dispatches started for Bogie Assemblies.

− Exports in Europe

− Aluminum Forgings

− New products in Domestic and LCV markets

− Castings plant of 45,000MT per Annum getting commissioned in H2FY26

Post-GST cut:

− Robust demand in the Domestic market will drive growth & capacity utilization

− Anticipated increase in both Revenue and Profitability

New Order Wins:

− Secured major orders during H1 FY26- Rs 927 Crores in CV Segment in Europe market, Rs 307 Crores in PV Segment in North America market, to be fulfilled over the next four years and Rs 319 Crores in Railways. These orders are poised to be key growth drivers for the company.

Investor Presentation – November 2025

About Ramkrishna Forgings

One Stop Solution Provider

Warm forging

Gear Grinding

Fabrication

Casting

Hot Forging

Cold Forgings

Machining

Aluminium Forging

Hammer & Upsetter Facilities

Ring Rolling

Press & Press Lines

Providing solutions to

Commercial Vehicles

Railways

Mining, Earth Moving & Farm Equipment

Industrial Components, Steel, Cement & Power

Oil & Gas

Investor Presentation – November 2025

Global Presence

Revenue By Geography

Eurpoe 14%

% Share –H1FY25

Exports

34%

India 66%

Domestic

66%

Asia Pacific India, UAE, Thailand, Japan, Australia, Turkey

Europe Belgium, Netherlands, Spain, France, Switzerland, Sweden, Germany, Italy, Poland

North America USA, Canada, Mexico

South America Brazil

Investor Presentation – November 2025

North America 19%

Asia Pacific other than India 1%

#19

Countries Served

Update on Subsidiary and Joint Venture

Update on Mal Metalliks and MAPL

We are expecting the order from NCLT for merger of Mal Metalliks Pvt. Ltd. and Multitech Auto Pvt. Ltd. into Ramkrishna Casting Solutions Ltd. (formerly JMT Auto Ltd.) in Q3FY26.

All three entities are wholly owned subsidiaries, ensuring no change in RKFL’s shareholding.

NCLT has dispensed with meetings of equity shareholders, secured & unsecured creditors, and debenture holders.

100% shareholder consent and >90% creditor approvals already received in writing

Merger to simplify group structure and eliminate duplicate compliances

Expected to enhance operational efficiency and synergies across casting and machining businesses

Investor Presentation – November 2025

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 September 30,2025 - Rs 400 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 Rotary hearth furnace, Railway wheel forging and rolling line, and a Heat treatment line is under progress.

Operations are expected to begin by Mar’26

Investor Presentation – November 2025

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.

We have secured significant orders totaling Rs 200 Crores for machining services from a major North American customer, to be fulfilled over the next five years. To ensure timely execution, the necessary machinery has already been ordered, with deliveries commencing this month. Bulk production is scheduled to begin from April 2026, positioning us for steady revenue growth and enhanced capacity utilization.

Discussions are on for existing portfolio as we are facing strong traction for requirements from Mexico.

Investor Presentation – November 2025

Multiple Vectors to Accentuate Growth

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 – November 2025

Well Positioned To Capture Future Growth

Summary Summary on on Capacity Capacity Expansion Expansion

8,000T Press

Press in Final Stage of Commissioning

Heavy Components for CV & Off Highway

3,000T Press

Press under Installation

Aluminum Forged Components for EV

1,600T 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

Investor Presentation – November 2025

Our Commitment

Our ESG Vision - Delivering shared value to the planet and people

RKFL’s 5 Pillars of Sustainability

VALUABLE PARTNERSHIPS

ENVIRONMENTAL CONSCIOUSNESS

REWARDING WORKPLACE

EMPOWERED COMMUNITIES

ROBUST GOVERNANCE

We are aligned with 9 United Nations Sustainability Development Goals

Investor Presentation – November 2025

Key Sustainability Highlights Where Growth Meets Green: Progress Update for Q2 FY20261

15% Reduction in Total water consumption

60% Increase in rainwater harvesting

Reduction in energy intensity per unit of production

55%

increase in recycled wastewater

25%

Reduction in grid electricity intensity per unit of production

99%

Permanent employees trained on Human Rights

Permanent employees trained on ESG

99%

6% Increase in renewable energy mix

Total renewable energy consumption has increased by 3%

1 Note: The above is year-on-year update on ESG performance

23%

Decrease in waste intensity

Improvement in overall waste recycling performance

Decrease in waste generated

37%

Investor Presentation – November 2025

Our Goals and Initiatives Committed to preserving and protecting the environment and supporting the local community

Our Goals and Target Year

Progress

Key Initiatives

Achieve Net Zero

2040

6% increase in RE energy mix

GHG Emissions & Energy Management

Achieve 100% Renewable Energy

2033

9% reduction In energy intensity per unit of production

Water Management

Achieve Zero Liquid Discharge (ZLD) across all plants

Achieve 100% water recycling

2030

55% increase in wastewater recycling

Waste Management

Reduce total waste generation by 50%

Employee Wellbeing

Train 100% employees on ESG

Train 100% employees on Human Rights

2030

2025

23% decrease in waste intensity

99% Permanent employees trained

Reduction in Propane Across Operations

Achieved 30% reduction.

Initiated Electrification of Propane based Heat Treatment Furnace in Plant 3&4.

Renewable Energy Progress Highlights:

6% year-on-year growth in renewable energy mix.

1.51 MWp of new solar capacity added across Plants during Q2 FY26.

100% Green Energy now powers the Kolkata Head Office.

Energy Consumption Reductions at a Glance:

9% reduction in energy intensity achieved per unit of production.

Key Water Management Initiatives:

Detailed water audit conducted across all the Plants

Reduced freshwater consumption by extensively utilizing treated water for cooling towers, utensil cleaning, gardening, fire hydrant line, civil work etc.

Installed water-efficient fixtures like push taps, dual flush systems, auto flush urinals, and aerators to reduce daily freshwater consumption.

Canteen drinking water consumption reduced by 33% at Plant 1 through targeted training and awareness program.

Waste Reduction Initiatives Driving Efficiency:

Waste intensity per unit of production reduced by 23%, reflecting more sustainable manufacturing practices.

9R Waste Management framework across all plants.

Advancing Employee Well-being:

Trained contractual employees on ESG and Human Rights principles to foster responsible practices

Conducted Human Rights Due Diligence survey to assess and strengthen ethical standards across operations.

Earned ‘Great Place to Work’ Certification for the second consecutive year

Strengthening Community Infrastructure and Well-being:

Community Support

Launch a flagship CSR program across all plants

2030

Community Upliftment through infrastructure, healthcare and waste management

Pasting radium stickers on roads and street light poles for enhanced vehicle safety

Care for Autism: Supporting education for children diagnosed with autism

Organizing blood donation and health check-up camps for community health

Upgradation of healthcare centres for enhanced healthcare access

Construction and renovation of schools.

Investor Presentation – November 2025

Embedding Human Rights Due Diligence

We focus on ensuring fair, safe, and respectful conditions for all.

“

For RKFL, Human Rights Due Diligence is a strategic tool to build trust, enhance risk management, protect stakeholders, and create a rewarding workplace.

Our process is guided by global frameworks and standards:

RKFL’s Human Rights Policy sets guidelines on:

• Child Labour

• Forced Labour

• Discrimination & Sexual Harassment

• Fair Remuneration

• Working Hours & Conditions

• Freedom of Association

• Health & Safety

• Diversity, Equity & Inclusion

Value Addition and Benefits

Increase brand recognition and reputation

Compliance with regulatory requirements

Align with global customer demands

Improve talent development and retention

RKFL’s Three Pillar Approach to Human Rights Due Diligence

Pillar 1

Pillar 2

Pillar 3

Labour Rights

Workplace Conditions

Governance Systems

Child Labour Restrict work performed by anyone below the age of 18, or as per local laws

Working Conditions Physically & psychologically safe and fair environment to work

Management System Structured approach to ensure understanding on human rights

Forced Labour No work should be extracted from workers under a threat of penalty

Remuneration Equitable and fair compensation based on work, skills and experience

Awareness Company’s effort to ensure knowledge on fundamental rights

Freedom of Association Right to interact and organize themselves to collectively bargain

Health & Safety Providing a safe and healthy environment to ensure worker wellbeing

Grievance Redressal Formal system to report and resolve human rights concerns at the workplace

Discrimination Equal treatment of all irrespective of race, gender, religion, disability etc.

Investor Presentation – November 2025

Conference Call Details

Q2 & H1 FY26 EARNINGS CALL

Time

Pre-registration

HOSTED BY:

06:00 PM. IST on 12th November 2025

To enable participants to connect to the conference call without having to wait for an operator, please register at the below mentioned link:

Investor Presentation – November 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

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