Ramkrishna Forgings Limited (RKFORGE) Q1 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

CompoundingAI Research Updated July 19, 2026 3 min read

Ramkrishna Forgings Limited enters Q1 FY27 with a strong tailwind from record domestic automobile production and a weaker rupee supporting export realisations. Investors will be focused on whether the company can translate this robust demand environment into improved EBITDA margins and a clearer path toward deleveraging.

Quick Details

Results date	July 24, 2026
Quarter	Q1 FY 2026-2027
Previous quarter revenue	Rs. 1,216.78 Cr
Previous quarter PAT	Rs. 55.94 Cr
Previous quarter EBITDA margin	17.11%
Net debt (latest quarter)	Rs. 2,169 Cr
Market cap	Rs. 10,351.81 Cr
CMP	Rs. 568.25

Ramkrishna Forgings Limited Q1 Results Date and Time

The board meeting is scheduled for July 24, 2026, to consider the audited financial results and recommend dividend for FY 2026-2027.

What to expect from Ramkrishna Forgings Limited's Q1 FY27 results

Revenue growth in Q1 FY27 is expected to track or exceed the robust industrial-production momentum, potentially surpassing the 5.81% YoY growth recorded in Q1 FY26 given the record automobile sales of 12,73,811 units in the passenger vehicle segment. EBITDA margins are likely to hold or expand within the 17.0–18.5% range, supported by operating leverage and the benefit of a 7–10% rupee depreciation against the USD compared to the year-ago period. While steel input costs remain a headwind—with HRC prices averaging Rs. 55,000–56,000/tonne in Q1—the significantly moderated FY27 capex guidance of less than Rs. 100 Cr should support a gradual improvement in net debt levels from the Rs. 2,169 Cr reported in Q4. Management's upcoming commentary will be closely watched for any revised FY27 guidance following the previous year's performance misses and updates on the profitability of the rail wheel JV, which acted as a Rs. 17.85 Cr drag on PAT last quarter.

Key Things To Watch

Operational Performance and Margins: Tracking the translation of record industry volumes into margin expansion.

Revenue growth alignment with SIAM-record PV/CV volumes and 7.1% April IIP capital-goods growth
EBITDA margin bridge vs Q4 17.11% level, specifically the pass-through of higher HRC costs
Export revenue realisation benefit from rupee depreciation vs hedge status

Financial Position and Deleveraging: Monitoring the impact of reduced capex on balance sheet health.

Net debt trajectory following the Q4 Rs. 2,169 Cr level
Capex spend progress against the FY27 guidance of less than Rs. 100 Cr
Interest cost compression as a percentage of revenue

Strategic Projects and Subsidiaries: Updates on key growth drivers and loss-making segments.

Revenue contribution and ramp-up status of the aluminium forging facility commissioned in January 2026
Profitability improvement status of the rail wheel JV (RTRWL) vs the Rs. 17.85 Cr Q4 drag

Frequently Asked Questions

What was the primary driver of the revenue growth in the previous quarter?

Revenue grew 28.5% YoY in Q4 FY26, supported by a strong operational recovery and a dramatic swing in working capital where trade receivables decreased by Rs. 211.4 Cr. This improvement in cash flow was a key factor in the company's financial performance during that period.

How did the company's capital expenditure change in the last fiscal year?

The company reported a total capex of Rs. 710 Cr for FY26, which was significantly higher than the initial guidance of Rs. 415–465 Cr. Management has since moderated the outlook for FY27, guiding for a capex spend of less than Rs. 100 Cr.

Is the company's current net debt level on track with previous targets?

Net debt stood at approximately Rs. 2,169 Cr in Q4 FY26, which was elevated relative to the company's target of less than Rs. 2,000 Cr. Management is now looking to leverage a reduced capex requirement in FY27 to support gradual debt reduction.