Ramkrishna Forgings has secured regulatory approval to reclassify a key promoter group entity into the public category, simplifying its shareholding structure. The company received no-objection letters (NOCs) from both the National Stock Exchange of India Limited (NSE) and BSE Limited on August 05, 2026, permitting the shift of Maa Chandi Financial Advisory Services Private Limited from the 'Promoter and Promoter Group' classification to 'Public'. This reclassification, executed under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, alters the composition of the company’s promoter holding without affecting total promoter ownership percentage if other entities remain unchanged.

The procedural timeline indicates that Ramkrishna Forgings initially applied for this reclassification on November 17, 2025. The exchanges reviewed the submission and granted their respective NOCs simultaneously on August 05, 2026. The NSE issued its letter under reference number NSE/LIST/COMP/RKFORGE/543/2026-2027, while BSE issued its letter under reference number LIST/COMP/SJ/162/2026-27. The company formally intimated these developments to the listing departments of both exchanges on August 06, 2026, ensuring timely disclosure in compliance with regulatory mandates.

Entity Details

The subject of the reclassification is Maa Chandi Financial Advisory Services Private Limited, which was formerly known as Ramkrishna Rail and Infrastructure Private Limited. The change in legal name suggests a strategic pivot or consolidation within the group’s advisory and financial services arm. By moving this entity out of the promoter group classification, the shares held by it will be treated as part of the public shareholding pattern. This can impact metrics related to public float and potentially ease compliance with minimum public shareholding requirements, although the immediate impact depends on the size of the stake held by this specific entity.

Regulatory Compliance

The reclassification process is governed strictly by Regulation 31A of the SEBI LODR Regulations 2015, which outlines the criteria and procedures for changing the category of shareholders. The regulation requires listed entities to obtain prior no-objection from the stock exchanges where they are listed before effecting such changes. Both exchanges have mandated that Ramkrishna Forgings ensure continued compliance with subsequent disclosures regarding material events related to this reclassification. This includes updating the shareholding pattern filings to reflect the new categorization accurately.

Rajesh Mundhra, Company Secretary and Compliance Officer at Ramkrishna Forgings, signed the intimation letter, confirming that copies of the NOCs were received by the company around 5:10 p.m. (IST) on August 05, 2026. The intimation was also uploaded on the company’s official website, www.ramkrishnaforgings.com , to ensure transparency for all stakeholders. The move reflects routine corporate governance activity aimed at aligning the shareholding structure with current operational realities and regulatory standards.

Ramkrishna Forgings achieved zero fatalities and a zero Lost Time Injury Frequency Rate (LTIFR) during Financial Year 2025-26, marking a significant milestone in its occupational health and safety performance. The forging manufacturer also reported a 9.40% reduction in total Scope 1 and Scope 2 greenhouse gas (GHG) emissions compared to its FY2022-23 base year, reinforcing its commitment to environmental stewardship. These outcomes were detailed in the company’s Business Responsibility & Sustainability Report (BRSR), which received reasonable assurance from TÜV SÜD South Asia Pvt Ltd.

The report, covering the period from April 1, 2025, to March 31, 2026, highlights that exports accounted for 31.60% of the company’s total revenue from operations. Ramkrishna Forgings operates across 23 locations nationally, including 11 plants and 12 offices, and serves customers in 18 international markets. The company’s paid-up capital stands at ₹3628.98 Lakhs. Oversight for sustainability initiatives is managed by Lalit Kumar Khetan, Whole-time Director & Chief Financial Officer, in consultation with management.

Environmental and Safety Performance

Ramkrishna Forgings has set ambitious targets to achieve Net Zero emissions by 2040 and transition to a 100% renewable energy mix by 2033. During FY2025-26, the company completed the commissioning of a 10.24 MW rooftop solar power plant at its Saraikella and Dugni facilities in Jamshedpur, Jharkhand. This addition increased its total installed renewable energy capacity by 17.3%. Additionally, the company entered into a Power Purchase Agreement for 30 MW of solar power under a captive generation scheme, effective from FY2028-30.

In terms of water management, the company achieved Zero Liquid Discharge (ZLD) across the majority of its manufacturing units in Jamshedpur. It installed 295 KLD Effluent Treatment Plants (ETP) and 242 KLD Sewage Treatment Plants (STP), resulting in a 40% year-on-year increase in recycled wastewater. The company also reduced water procurement from third parties by 18%.

Governance and Social Initiatives

The company maintained robust governance standards, with 97% of permanent employees trained on the Code of Conduct and 99% trained on Human Rights and ESG principles. No complaints regarding sexual harassment, discrimination, child labor, or forced labor were reported during the financial year. The Board of Directors includes 18% women representation, with independent directors constituting 55% of the board.

Ramkrishna Forgings continued its community engagement through the Ramkrishna Foundation, focusing on infrastructure, healthcare, and education in Jharkhand and West Bengal. Key initiatives included installing streetlights along 16 km of roads, constructing borewells and water purifiers, and renovating government schools. The company also hired 27 persons from local villages as permanent employees during the year, bringing the cumulative total to 145 hires from these communities as of March 31, 2026.

What the Numbers Show

The divergence between operational scale and safety outcomes is notable: despite operating 11 plants and employing over 9,000 individuals (including workers), the company recorded zero fatalities and zero LTIFR. This suggests that the implemented safety matrix, Behavior-Based Safety (BBS) system, and ISO 45001:2018 certification coverage across more than 90% of plants are effectively mitigating workplace risks. Furthermore, the 9.40% reduction in GHG emissions against the base year, coupled with significant investments in solar capacity, indicates tangible progress toward its 2040 Net Zero target, reducing long-term regulatory and climate-related financial risks.