# Ramkrishna Forgings share price today (Ramkrishna Forgings Ltd, NSE: RKFORGE)

> Ramkrishna Forgings share price today: ₹691.45 at the NSE close on 3 November 2026, up 27.3% in a year. Ramkrishna Forgings (NSE: RKFORGE) is worth ₹12,830 crore, trades at a P/E of 65.8 and has closed between ₹477.95 and ₹751.25 over the past 52 weeks. > Ramkrishna Forgings Ltd's share price has risen faster than its earnings: +27.3% in a year, against −82.8% for earnings per share. RKFORGE · Castings, Forgings & Fastners · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/ramkrishna-forgings-ltd

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## Key numbers

- Business trend: Getting worse, from fewer quarters than usual
- Price: ₹691.45 (+27.3% in a year)
- P/E: 65.8× (higher than 79% of the last 11 years)
- Revenue (Sep 2026): ₹1,405 Cr (+54.7% on a year ago)
- Profit (Sep 2026): ₹71.0 Cr
- Operating margin: 18.0% (+5.0 points on a year ago)
- ROCE: 6%, FY26
- Profit that came in as cash: 192%, last 3 years

The main question: the share price moved +27.3% in a year while yearly earnings per share moved −82.8%. The difference came from the market paying a higher multiple. ## What is the Ramkrishna Forgings share price today? Ramkrishna Forgings Ltd's share price was ₹691.45 at the close on 3 November 2026. It has been rising for 14 weeks. That is 9.4% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹478 and ₹751, and at that close it sat 78% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 1 week in a row. Over the last 11 years the share price moved +917% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Ramkrishna Forgings this quarter? 5 points in one quarter and highest quarterly revenue in 16 quarters. 1. Indian funds and insurers (DIIs) raised their stake for 4 quarters in a row From 3.5% to 5.7% of the company by the September 2026 quarter. 2. Promoters cut their stake by 2.5 points in one quarter From 43.4% to 40.9% in the September 2026 quarter. 3. Highest quarterly revenue in 16 quarters Revenue of ₹1,405 crore in the September 2026 quarter is the highest of the last 16 quarters. Why: Revenue hit a record because exports bounced back strongly as North America recovered and the company gained more customers in Europe. Next results: check whether the second half is really better than the first half. From the earnings call on 30 Oct 2026. ## What are Ramkrishna Forgings' latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Ramkrishna Forgings reported revenue of ₹1,405 crore, up 54.7% from ₹908 crore a year earlier, and a profit of ₹71.0 crore, against a loss of ₹10.0 crore a year earlier. ### Ramkrishna Forgings results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹1,405 crore | ₹908 crore | +54.7% |
| Profit | ₹71.0 crore | loss of ₹10.0 crore | n/a |
| Earnings per share | ₹3.80 | ₹−0.52 | n/a |
| Operating margin | 18.0% | 13.0% | +5.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Ramkrishna Forgings' management discussed these results on a call held on 30 October 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Ramkrishna Forgings share price history? Ramkrishna Forgings closed at ₹691.45 on 3 November 2026, up 27.3% from ₹543.00 a year earlier (31 October 2025) and up 229.2% over five years. Its highest weekly close since March 2016 was ₹1,020.90 on 18 October 2024. ### Ramkrishna Forgings share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹591.05 | +17.0% |
| 1 month ago · 1 Oct 2026 | ₹695.00 | −0.5% |
| 6 months ago · 30 Apr 2026 | ₹598.30 | +15.6% |
| 1 year ago · 31 Oct 2025 | ₹543.00 | +27.3% |
| 3 years ago · 3 Nov 2023 | ₹678.20 | +2.0% |
| 5 years ago · 4 Nov 2021 | ₹210.01 | +229.2% |
| 10 years ago · 4 Nov 2016 | ₹66.39 | +941.5% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹67.98 | +917.1% |
| Highest weekly close since March 2016 · 18 Oct 2024 | ₹1,020.90 | −32.3% |
| Lowest weekly close since March 2016 · 3 Apr 2020 | ₹27.81 | +2,386.3% |
| 52-week high (weekly close) · 28 Aug 2026 | ₹751.25 | −8.0% |
| 52-week low (weekly close) · 19 Dec 2025 | ₹477.95 | +44.7% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (563 weekly closes from 11 March 2016 to 3 November 2026.)

## What is the latest news on Ramkrishna Forgings? 6 Nov 2026: Coming up: ex-date for an interim dividend of ₹2 a share. 3 Nov 2026: Ramkrishna Forgings closed at ₹691.45, up 17.0% on the week and down 0.5% on the month. ### Earlier

- 30 Oct 2026: Ramkrishna Forgings held its results call for July to September 2026. Management guided: Total debt cut ₹500 crore to ₹1,500 crore net, ₹1,670-1,700 crore gross, by FY27-end. - Results for July to September 2026: Revenue up 54.7% on a year earlier. - 8 May 2026: ex-date for an interim dividend of ₹1 a share. ## What dividend does Ramkrishna Forgings pay? Ramkrishna Forgings paid ₹1 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.14% at the ₹691.45 close on 3 November 2026. The last was an interim dividend of ₹1 a share, ex-date 8 May 2026. Next: ₹2 a share, ex-date 6 November 2026. ### Ramkrishna Forgings dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 6 Nov 2026 (upcoming) | ₹2 | Interim | same day |
| 8 May 2026 | ₹1 | Interim | same day |
| 6 Jun 2025 | ₹1 | Interim | same day |
| 31 Oct 2024 | ₹1 | Interim | 2 Nov 2024 |
| 10 May 2024 | ₹1 | Interim | same day |
| 30 Oct 2023 | ₹1 | Interim | same day |
| 9 May 2023 | ₹0.50 | Interim | same day |
| 31 Jan 2023 | ₹0.50 | Interim | same day |
| 1 Nov 2022 | ₹0.50 | Interim | 2 Nov 2022 |
| 8 Sep 2022 | ₹0.20 | Dividend | n/a |
| 28 Jul 2022 | ₹0.50 | Interim | 29 Jul 2022 |
| 28 Jan 2022 | ₹0.50 | Interim | 31 Jan 2022 |
| 21 Oct 2021 | ₹0.50 | Interim | 22 Oct 2021 |
| 5 Aug 2021 | ₹0.50 | Interim | 6 Aug 2021 |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Ramkrishna Forgings Ltd paid out 25% of its profit as dividends in FY26, and it paid a dividend in 11 of its last 13 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Ramkrishna Forgings management say on the latest results call? On the call for July to September 2026, held on 30 October 2026, Ramkrishna Forgings' management guided: Total debt cut ₹500 crore to ₹1,500 crore net, ₹1,670-1,700 crore gross, by FY27-end. > “In FY28, we are looking at a strong market. Both the domestic and international markets in FY28 are going to be strong markets, and we do not see any conservative approach in the next year.”
> Lalit Khetan, on the call for July to September 2026

### What management guided

- FY27 capital spending around ₹550 crore including ₹160 crore H2, JV pending ₹50-55 crore over 1 year with ₹15-20 crore H2. - December start 2,000-3,000 wheels, Q4 to 80 percent at 4,000-5,000 per month, 20,000-25,000 wheels FY27 with 18-20 percent margin at optimum. - Operating margin improvement 30-40 basis points quarter on quarter endeavour toward prior 20-21 percent peak with no timeline committed. - ROCE 12-15 percent by FY27-end with 20 percent next-year aspiration. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/4492-30-Oct-2026.pdf). (From the call for July to September 2026, 30 October 2026.)

## What to watch in Ramkrishna Forgings' next results? When Ramkrishna Forgings reports October to December 2026, these are the 3 checks that show whether the story is still on course. First: Trial-wheel inspection clearance with December production start and Q4 scale-up to flagged monthly rate. - What to check (from the call)
- Trial-wheel inspection clearance with December production start and Q4 scale-up to flagged monthly rate. - Net debt progress toward FY27 goal after H1 reduction with machining capital spending execution. - Consolidated margin expansion continuing quarter on quarter with H2 outperformance versus H1. ## Which stock lists is Ramkrishna Forgings on? Ramkrishna Forgings is on one of our India lists: Momentum stocks. [Momentum stocks Market cap cr: 12918.040655433608](https://www.sectoralpha.in/momentum-stocks-india)

## Is Ramkrishna Forgings profitable? Ramkrishna Forgings Ltd earned ₹71.0 Cr of net profit in the Sep 2026 quarter. Full-year FY26 profit was ₹72.0 Cr. Over 10 years profit has grown 2.7% a year on average. That is 5.1% of the quarter's revenue. The same quarter a year earlier lost ₹10.0 Cr. 1 of the last 12 reported quarters were loss-making. For the full year, FY26 profit was ₹72.0 Cr (−82.7% on the year before). On average over the last four quarters, profit changed +62.1% and revenue +26.4%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Ramkrishna Forgings make, and is it growing? Ramkrishna Forgings Ltd reported ₹1,405 Cr of revenue in the Sep 2026 quarter, +54.7% on the same quarter a year earlier. That is the 4th quarter in a row with growth on the year before. Over 10 years it has grown 16.7% a year on average. The last full year, FY26, came in at ₹4,238 Cr. The last four reported quarters add to ₹4,938 Cr. FY26 revenue was ₹4,238 Cr, +5.1% on the year before. Recent pace: the last four quarters grew +26.4% on average, against 16.7% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +25.2%, against +11.3% a year over the last 8 quarters (accelerating); profit over the last 12 months grew −15.7%, against −26.5% a year (accelerating). ## How much of every ₹100 of sales does Ramkrishna Forgings keep? Ramkrishna Forgings Ltd's operating margin was 18.0% in the Sep 2026 quarter, 5.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between 14.0% and 22.0%. The latest quarter is within that range. Why the margin moved: operating margin changed +5.2 percentage points on the year while gross margin changed +2.3 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales. ## Is Ramkrishna Forgings' profit turning into cash? Over the last 3 years, 192% of Ramkrishna Forgings Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹840 Cr of operating cash against ₹72.0 Cr of profit. After ₹942 Cr of spending on assets, free cash was −₹102 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 192% of profit came in as cash: the cash cycle got 80 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. What to look at next: the bigger use of cash is spending on new assets, at 3.7× depreciation over three years. The next section checks what that spending is building. ## Where does Ramkrishna Forgings' cash go? Ramkrishna Forgings Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 86 days in FY26, down from 166 days in FY21. It spent ₹3,176 Cr on assets over the last 3 years. Customers take 68 days to pay, and stock sits for 211 days on average. At FY26 sales of ₹4,238 Cr, each day of that cycle ties up about ₹11.6 Cr, so roughly ₹999 Cr is tied up in the business at any time. FY26: customers took 68 days to pay and stock sat for 211 days, about 6.9 months of sales sitting as stock, for a full cycle of 86 days, shorter than FY21's 166. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 211 days. Customers pay about 68 days after that. Suppliers are paid at 193 days. Together that makes the 86-day cycle. Spending on assets: ₹3,176 Cr over the last 3 years, against ₹861 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹337 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Ramkrishna Forgings' P/E ratio, and how does it compare with its own history? Ramkrishna Forgings Ltd's P/E is 65.8×, near the high end of its own history: higher than 79% of past readings. Its usual P/E (the middle reading) is 32.5×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹10.20. Why the multiple is where it is: over the past year earnings per share moved −82.8% while the price moved +27.3%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 5 years the price moved +26.9% a year; about +7.5% a year came from earnings growth and about +19.4 percentage points from the multiple (the market paying more); over 10 years the price moved +26.4% a year; about +10.7% a year came from earnings growth and about +15.7 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. The PEG ratio and its quarterly curve, which only the second data source has, are not shown on this page: its two data sources disagree by up to 372% on reported income across 14 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Is the Ramkrishna Forgings business getting better or worse? Ramkrishna Forgings Ltd's business is getting worse. Profit and EPS growth are shrinking: profit growth is −15.7% in the latest quarter, against +32.5% at its best in 12 quarters, with ROCE falling at 6.0%. This is based on 9 quarters of 4 measures, with some gaps. Why it matters: falling lines mean any ratio below that looks low should be read with that direction in mind. The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone. This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution. ## How much does Ramkrishna Forgings earn on its capital? Ramkrishna Forgings Ltd earned a ROCE of 6% in FY26. That is up from a low of 5% in FY14. We cannot compare its return on capital used with its cost of capital from the data we have. It comes from a 1.7% net margin and 0.59× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 1.7% net margin × 0.59× asset turnover × 2.18× leverage (assets divided by equity) ≈ 2.2% on equity. The margin does its share; borrowing is a big part of it. The quarterly return lines and the return-on-capital-used (ROIC) line, which only the second data source has, are not shown on this page: its two data sources disagree by up to 372% on reported income across 14 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## Does Ramkrishna Forgings have too much debt? Ramkrishna Forgings Ltd had ₹2,449 Cr of borrowings against ₹3,290 Cr of equity in FY26, so its debt is 0.74× its equity. Its operating profit is 3 times its interest bill. Over 5 years borrowings went from ₹1,233 Cr to ₹2,449 Cr. Over the last 3 of those years it spent ₹3,176 Cr on assets. Part of the spending on assets is being paid for with borrowed money. The total-debt and debt-to-equity series, which only the second data source has, are not shown on this page: its two data sources disagree by up to 372% on reported income across 14 comparable periods. When two sources disagree on a figure, we leave it out on purpose. The gap is a choice, not missing data. ## What is the Ramkrishna Forgings shareholding pattern? Foreign institutions cut their stake in Ramkrishna Forgings Ltd by 7.2 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 17.1% of the company. Promoters moved −2.3 points over the same period, to 40.9%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: −7.2 points over 8 quarters, to 17.1%; Promoters: −2.3 points over 8 quarters, to 40.9%; Domestic institutions: +0.6 points over 8 quarters, to 5.7%. Why the owners changed: foreign institutions drove it (−7.2 points), together with promoters (−2.3 points). They reduced their stake. ## How far is Ramkrishna Forgings from balance-sheet trouble? For Ramkrishna Forgings Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Ramkrishna Forgings rank in its industry? 48.4 out of 100, rank 11 of 20 in Castings, Forgings & Fastners, with 67% of the evidence available. Ramkrishna Forgings Ltd scores 48.4 out of 100 against the 20 companies it is compared with in Castings, Forgings & Fastners, ranking 11. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 21.1 + 7.5 + 9.2 + 10.6 = 48.4. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Ramkrishna Forgings compared with? Ramkrishna Forgings ranks 11 of 20 Castings, Forgings & Fastners companies on the 4-Factor Sector Score, with 48.4 out of 100. 1. [Kennametal India Ltd](https://www.sectoralpha.in/stocks/kennametal-india-ltd) KENNAMET · leader · Sector-leading setup · 96% evidence 83.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.7/35 · Revenue 29.1% · Profit 91.2% · Operating margin change 12 points · 88% evidence Capital efficiency 21.5/25 · ROCE 33.2% · Operating margin 27% · 100% evidence Valuation 12.4/20 · P/E 41.4× · PEG 1.34 · 100% evidence Relative strength 18.9/20 · Lead over its industry 16% · Lead over NIFTY 500 34.5% · 1 year 76.5% · 100% evidence · 12 of 12 weeks ahead Exact sum: 30.7 + 21.5 + 12.4 + 18.9 = 83.5 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Uniparts India Ltd](https://www.sectoralpha.in/stocks/uniparts-india-ltd) UNIPARTS · losing its lead · Most evidence points up · 96% evidence 76.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.2/35 · Revenue 27.5% · Profit 85.6% · Operating margin change 5 points · 88% evidence Capital efficiency 19.1/25 · ROCE 21.6% · Operating margin 24% · 100% evidence Valuation 16.9/20 · P/E 17.3× · PEG 0.38 · 100% evidence Relative strength 11.3/20 · Lead over its industry 5.1% · Lead over NIFTY 500 22.5% · 1 year 40.7% · 100% evidence · 11 of 12 weeks ahead Exact sum: 29.2 + 19.1 + 16.9 + 11.3 = 76.5 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [Sona BLW Precision Forgings Ltd](https://www.sectoralpha.in/stocks/sona-blw-precision-forgings-ltd) SONACOMS · leader · Most evidence points up · 100% evidence 65.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.7/35 · Revenue 42.1% · Profit 21.8% · Operating margin change -2 points · 100% evidence Capital efficiency 15.8/25 · ROCE 14.2% · Operating margin 23% · 100% evidence Valuation 6.5/20 · P/E 71.7× · PEG 3.52 · 100% evidence Relative strength 19.3/20 · Lead over its industry 29.5% · Lead over NIFTY 500 51.4% · 1 year 88.4% · 100% evidence · 12 of 12 weeks ahead Exact sum: 23.7 + 15.8 + 6.5 + 19.3 = 65.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Gala Precision Engineering Ltd](https://www.sectoralpha.in/stocks/gala-precision-engineering-ltd) GALAPREC · turning · Evidence leans up · 89% evidence 60.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.3/35 · Revenue 31.8% · Profit 37.2% · Operating margin change 1 points · 88% evidence Capital efficiency 13.5/25 · ROCE 15.6% · Operating margin 16.3% · 100% evidence Valuation 12.5/20 · P/E 35× · PEG 1.14 · 65% evidence Relative strength 11.8/20 · Lead over its industry 3.1% · Lead over NIFTY 500 21.3% · 1 year 35.6% · 100% evidence · 6 of 12 weeks ahead Exact sum: 22.3 + 13.5 + 12.5 + 11.8 = 60.1 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Steelcast Ltd](https://www.sectoralpha.in/stocks/steelcast-ltd) STEELCAS · leader · Evidence leans up · 96% evidence 59.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.8/35 · Revenue 9.2% · Profit 15.2% · Operating margin change 0 points · 88% evidence Capital efficiency 19.3/25 · ROCE 32.3% · Operating margin 26% · 100% evidence Valuation 8.0/20 · P/E 38.8× · PEG 1.7 · 100% evidence Relative strength 17.4/20 · Lead over its industry 12.9% · Lead over NIFTY 500 32.1% · 1 year 53.8% · 100% evidence · 12 of 12 weeks ahead Exact sum: 14.8 + 19.3 + 8 + 17.4 = 59.5 · What this means: Relative strength against the index is 32.1%, and revenue and profit growth are weak. 6. [Amic Forging Ltd](https://www.sectoralpha.in/stocks/amic-forging-ltd) leader · Too little evidence to rank firmly · 53% evidence 59.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 17.7/35 · Revenue n/a · Profit n/a · Operating margin change 5 points · 15% evidence Capital efficiency 17.1/25 · ROCE 25.2% · Operating margin 33% · 71% evidence Valuation 6.8/20 · P/E 77.5× · PEG n/a · 50% evidence Relative strength 17.4/20 · Lead over its industry 8.4% · Lead over NIFTY 500 27.2% · 1 year 34.6% · 100% evidence · 11 of 12 weeks ahead Exact sum: 17.7 + 17.1 + 6.8 + 17.4 = 59 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 7. [Balu Forge Industries Ltd](https://www.sectoralpha.in/stocks/balu-forge-industries-ltd) BALUFORGE · breaking out · Evidence leans up · 81% evidence 56.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.5/35 · Revenue 19.8% · Profit 18.1% · Operating margin change -3 points · 88% evidence Capital efficiency 18.3/25 · ROCE 22.7% · Operating margin 28% · 100% evidence Valuation 15.3/20 · P/E 20× · PEG 1.16 · 100% evidence Relative strength 8.0/20 · Lead over its industry n/a · Lead over NIFTY 500 -7.2% · 1 year -31.4% · 25% evidence · 11 of 12 weeks ahead Exact sum: 14.5 + 18.3 + 15.3 + 8 = 56.1 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 8. [Happy Forgings Ltd](https://www.sectoralpha.in/stocks/happy-forgings-ltd) HAPPYFORGE · leader · Evidence leans up · 96% evidence 55.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.8/35 · Revenue 15.5% · Profit 21.1% · Operating margin change 2 points · 88% evidence Capital efficiency 17.7/25 · ROCE 18% · Operating margin 31% · 100% evidence Valuation 2.8/20 · P/E 50.4× · PEG 3.72 · 100% evidence Relative strength 12.5/20 · Lead over its industry 7.7% · Lead over NIFTY 500 25.2% · 1 year 71.2% · 100% evidence · 12 of 12 weeks ahead Exact sum: 22.8 + 17.7 + 2.8 + 12.5 = 55.8 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 9. [Uni Abex Alloy Products Ltd](https://www.sectoralpha.in/stocks/uni-abex-alloy-products-ltd) quiet · Evidence leans up · 83% evidence 50.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.3/35 · Revenue 17.2% · Profit 100% · Operating margin change -7 points · 83% evidence Capital efficiency 15.6/25 · ROCE 18.8% · Operating margin 10.5% · 95% evidence Valuation 10.0/20 · P/E 18.2× · PEG n/a · 50% evidence Relative strength 8.6/20 · Lead over its industry 0.2% · Lead over NIFTY 500 17.5% · 1 year 30.6% · 100% evidence · 5 of 12 weeks ahead Exact sum: 16.3 + 15.6 + 10 + 8.6 = 50.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [CIE Automotive India Ltd](https://www.sectoralpha.in/stocks/cie-automotive-india-ltd) CIEINDIA · basing · Evidence leans down · 100% evidence 49.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.6/35 · Revenue 12.4% · Profit 15.3% · Operating margin change -1 points · 100% evidence Capital efficiency 13.9/25 · ROCE 14.7% · Operating margin 14% · 100% evidence Valuation 16.7/20 · P/E 14.4× · PEG 1.14 · 100% evidence Relative strength 2.4/20 · Lead over its industry -28.5% · Lead over NIFTY 500 -13.5% · 1 year -18.4% · 100% evidence · 0 of 12 weeks ahead Exact sum: 16.6 + 13.9 + 16.7 + 2.4 = 49.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. Ramkrishna Forgings Ltd this page RKFORGE · leader · Evidence leans down · 67% evidence 48.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.1/35 · Revenue 25.2% · Profit -15.7% · Operating margin change 5 points · 71% evidence Capital efficiency 7.5/25 · ROCE 5.6% · Operating margin 18% · 76% evidence Valuation 9.2/20 · P/E 61.6× · PEG n/a · 15% evidence Relative strength 10.6/20 · Lead over its industry -2.5% · Lead over NIFTY 500 15.6% · 1 year 19% · 100% evidence · 12 of 12 weeks ahead Exact sum: 21.1 + 7.5 + 9.2 + 10.6 = 48.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 12. [Nelcast Ltd](https://www.sectoralpha.in/stocks/nelcast-ltd) NELCAST · turning · Evidence leans down · 96% evidence 47.7 out of 100 Growth Capital Valuation Relative
13. [Alicon Castalloy Ltd](https://www.sectoralpha.in/stocks/alicon-castalloy-ltd) ALICON · breaking out · Evidence leans down · 81% evidence 43.6 out of 100 Growth Capital Valuation Relative
14. [M M Forgings Ltd](https://www.sectoralpha.in/stocks/m-m-forgings-ltd) MMFL · losing its lead · Evidence leans down · 96% evidence 41.7 out of 100 Growth Capital Valuation Relative
15. [Tirupati Forge Ltd](https://www.sectoralpha.in/stocks/tirupati-forge-ltd) TIRUPATIFL · turning · Evidence leans down · 96% evidence 40.6 out of 100 Growth Capital Valuation Relative
16. [Bharat Forge Ltd](https://www.sectoralpha.in/stocks/bharat-forge-ltd) BHARATFORG · quiet · Evidence leans down · 71% evidence 37.4 out of 100 Growth Capital Valuation Relative
17. [Sundaram Clayton Ltd](https://www.sectoralpha.in/stocks/sundaram-clayton-ltd) SUNCLAY · quiet · Most evidence points down · 71% evidence 30.1 out of 100 Growth Capital Valuation Relative
18. [Sterling Tools Ltd](https://www.sectoralpha.in/stocks/sterling-tools-ltd) STERTOOLS · quiet · Most evidence points down · 100% evidence 25.4 out of 100 Growth Capital Valuation Relative
19. [Synergy Green Industries Ltd](https://www.sectoralpha.in/stocks/synergy-green-industries-ltd) SGIL · losing its lead · Most evidence points down · 76% evidence 24.4 out of 100 Growth Capital Valuation Relative
20. [Captain Technocast Ltd](https://www.sectoralpha.in/stocks/captain-technocast-ltd) quiet · Too little evidence to rank firmly · 42% evidence 55.9 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Castings, Forgings & Fastners](https://www.sectoralpha.in/sectors/castings-forgings-fastners), all 20 compared on one page. ## Which companies are close to Ramkrishna Forgings in size? Ramkrishna Forgings is the 5th largest of 20 Castings, Forgings & Fastners companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Sona BLW Precision Forgings, Happy Forgings and CIE Automotive India. Just below it: Kennametal India, Balu Forge Industries and Steelcast. ### Castings, Forgings & Fastners companies close in size

1. [Sona BLW Precision Forgings Ltd](https://www.sectoralpha.in/stocks/sona-blw-precision-forgings-ltd) ₹55,672 crore
2. [Happy Forgings Ltd](https://www.sectoralpha.in/stocks/happy-forgings-ltd) ₹16,503 crore
3. [CIE Automotive India Ltd](https://www.sectoralpha.in/stocks/cie-automotive-india-ltd) ₹13,384 crore
4. Ramkrishna Forgings Ltd ₹12,005 crore
5. [Kennametal India Ltd](https://www.sectoralpha.in/stocks/kennametal-india-ltd) ₹8,105 crore
6. [Balu Forge Industries Ltd](https://www.sectoralpha.in/stocks/balu-forge-industries-ltd) ₹5,371 crore
7. [Steelcast Ltd](https://www.sectoralpha.in/stocks/steelcast-ltd) ₹3,522 crore

[All 20 Castings, Forgings & Fastners companies, largest first](https://www.sectoralpha.in/sectors/castings-forgings-fastners#all-companies)

### Companies close in size in other industries

1. [Sobha Ltd](https://www.sectoralpha.in/stocks/sobha-ltd) ₹12,031 crore · Realty - National
2. [Sri Lotus Developers & Realty Ltd](https://www.sectoralpha.in/stocks/sri-lotus-developers-realty-ltd) ₹12,022 crore · Construction - Factories/Offices/Commercial
3. Ramkrishna Forgings Ltd ₹12,005 crore
4. [Tilaknagar Industries Ltd](https://www.sectoralpha.in/stocks/tilaknagar-industries-ltd) ₹11,920 crore · Alcoholic Beverages
5. [Amagi Media Labs Ltd](https://www.sectoralpha.in/stocks/amagi-media-labs-ltd) ₹11,900 crore · Entertainment & Media

## What else do people ask about Ramkrishna Forgings? ### What is Ramkrishna Forgings's share price today? Ramkrishna Forgings Ltd's share price is ₹691.45, +27.3% over the past year. The whole company is worth ₹12,830 Cr on the market. In the last 52 weeks it traded between ₹478 to ₹751; today it is 78% of the way up from the low, 9.4% above its 200-day average (as of 3 November 2026). ### What were Ramkrishna Forgings's latest quarterly results? Ramkrishna Forgings Ltd reported revenue of ₹1,405 Cr and net profit of ₹71.0 Cr for the Sep 2026 quarter. Earnings per share were ₹3.80. The operating margin was 18.0%, 5.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Ramkrishna Forgings's market cap? Ramkrishna Forgings Ltd's market capitalisation is ₹12,830 Cr at a share price of ₹691.45. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Ramkrishna Forgings performing? Ramkrishna Forgings Ltd's share price has been rising for 14 weeks. Over the past 13 weeks it has done better than the NIFTY 500, for 1 week running. This describes what the data did, not a rating (as of 3 November 2026). ### Will Ramkrishna Forgings's share price go up? This page does not forecast Ramkrishna Forgings Ltd's share price. What it shows instead: the share price is ₹691.45, and it has been rising for 14 weeks. Its P/E of 65.8× is higher than 79% of its own last 11 years (as of 3 November 2026). ### Where is Ramkrishna Forgings in its business cycle? Ramkrishna Forgings Ltd's FY26 operating margin was 15.0%, against a 13-year range of 14.0% to 22.0%: the low end of its own range, which is often where recoveries start. The latest quarter was 18.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Ramkrishna Forgings story? The main question: the share price moved +27.3% in a year while yearly earnings per share moved −82.8%. The difference came from the market paying a higher multiple. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Ramkrishna Forgings a stock worth studying right now? What the numbers show: Ramkrishna Forgings Ltd's share price has risen faster than its earnings: +27.3% in a year, against −82.8% for earnings per share. The main open question: whether earnings grow into a price that has already moved. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Ramkrishna Forgings share price forecast for 2026? What management itself guided: Total debt cut ₹500 crore to ₹1,500 crore net, ₹1,670-1,700 crore gross, by FY27-end. ## Lists

- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india

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