Ramkrishna Forgings Limited has filed its statement of deviation or variation in fund utilization for the quarter ended 31st March 2026, as mandated under Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed that there are no deviations in the utilization of funds raised through preferential issues during the reporting period. The statement, submitted to both BSE Limited and National Stock Exchange of India Limited, was signed by Rajesh Mundhra, Company Secretary & Compliance Officer.

Fund Raising Activities Overview

The monitoring report covers two distinct fund raising initiatives. The first involves 34,00,000 convertible warrants issued during January 2026, while the second relates to equity share conversions from an earlier warrant issue.

Warrant Conversion Activity

The second component addresses the conversion of warrants from an earlier issue, generating proceeds for the company during the reporting quarter.

Fund Utilization Pattern

The monitoring agency confirmed that all funds were utilized in accordance with the stated objectives outlined in the offer documents. The primary utilization was directed towards working capital loan repayment.

Key Utilization Highlights:

• Rs. 49.98 crore from new warrants utilized for working capital repayment
• Rs. 100.80 crore from warrant conversions applied for working capital repayment
• No deviations from stated objectives recorded
• All fund deployment aligned with regulatory disclosures

Compliance and Monitoring

India Ratings & Research Private Limited, serving as the monitoring agency, reported no deviations from the stated objectives. The audit committee and auditors provided no adverse comments on the fund utilization.

Ramkrishna Forgings Limited announced its Q4 FY26 investor presentation under Regulation 30, revealing strong quarterly performance with consolidated revenue of ₹1,217 crore in Q4, marking a 28% year-on-year growth and 11% quarter-on-quarter increase. The company's Profit Before Tax improved significantly to ₹64 crore in Q4 compared to ₹30 crore in the previous quarter.

Q4 FY26 Financial Performance

The company demonstrated robust operational momentum across key performance indicators during the quarter ended March 31, 2026. Standalone revenue showed consistent growth while EBITDA margins expanded meaningfully.

Annual FY26 Results and Board Decisions

The Board of Directors approved comprehensive decisions during their May 1, 2026 meeting, including audited financial results for FY26. The company reported standalone revenue of ₹3,75,492.46 lakhs compared to ₹3,63,429.92 lakhs in FY25, while consolidated revenue reached ₹4,23,807.73 lakhs versus ₹4,03,410.68 lakhs in the previous year.

Operational Highlights and Business Diversification

The company's diversification strategy delivered tangible results with Railways emerging as a meaningful contributor alongside oil & gas, off-highway, and mining segments. Volume performance showed strong growth with total volumes reaching 1,82,746 tons in FY26 compared to 1,65,251 tons in FY25, representing 11% year-on-year growth.

Dividend Declaration and Corporate Actions

The Board declared a first interim dividend of Re 1 per equity share of face value ₹2 each for FY 2025-26, with the record date fixed as May 8, 2026. The company also approved the issue and allotment of 1,64,413 equity shares under the Employee Stock Option Scheme 2023 at ₹556 per share.

Leadership Changes and Governance Updates

Significant board restructuring includes the cessation of Mr. Sandipan Chakravortty and Mr. Partha Sarathi Bhattacharyya as Independent Directors effective May 20, 2026. The Board approved Mr. Naresh Jalan's re-appointment as Managing Director for three years starting November 5, 2026, subject to shareholder approval. The 44th Annual General Meeting has been scheduled for August 29, 2026, through video conferencing.