Ramkrishna Forgings Limited, a leading manufacturer of forged components, has announced that its Board of Directors has approved a request from Ramkrishna Rail Infrastructure Private Limited (RRIPL) to be reclassified from the 'Promoter Group' category to the 'Public' category of shareholders.

Request Details

RRIPL currently holds 65,00,000 equity shares, representing 3.59% of Ramkrishna Forgings' total equity share capital. The entity has stated that it is not directly or indirectly associated with the company's business operations and does not have any control over the management or policy decisions.

Rationale and Compliance

In its rationale, RRIPL confirmed that:

• It is not engaged in the management or operations of Ramkrishna Forgings in any manner.
• None of the members of the Promoter & Promoter Group of Ramkrishna Forgings controls more than one-half of the total voting power of RRIPL or controls the composition of RRIPL's Board.

The Board noted that RRIPL meets all criteria specified under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations for reclassification.

Approval Process

The reclassification request is subject to the following approvals:

1. Receipt of no-objection from the Stock Exchanges
2. Approval from the shareholders of Ramkrishna Forgings

Next Steps

Ramkrishna Forgings will undertake the application process to the Stock Exchanges in due course. The company will also seek shareholder approval as required by regulations.

This move is part of Ramkrishna Forgings' ongoing efforts to align its shareholding structure with the current operational realities of the company. The reclassification, if approved, may potentially impact the company's shareholding pattern and could have implications for future corporate actions.

Investors and stakeholders should note that this reclassification is subject to regulatory and shareholder approvals, and the final outcome may affect the company's ownership structure.

Ramkrishna Forgings Limited, a leading manufacturer of forged components, has released its financial results for the second quarter of fiscal year 2026, revealing a significant decline in profitability despite stable revenue.

Financial Highlights

For Q2 FY26, Ramkrishna Forgings reported:

• Consolidated revenue of ₹90,753.00 lakhs, down 13.9% from ₹1,05,362.87 lakhs in Q2 FY25
• EBITDA of ₹12,254.00 lakhs, with an EBITDA margin of 13.5%, compared to 15.7% in Q2 FY25
• Net loss of ₹949.66 lakhs, a sharp decline from a profit of ₹13,960.00 lakhs in Q2 FY25

Operational Performance

The company's performance was impacted by several factors:

• Volume decline: Total sales volume decreased to 41,384 tons in Q2 FY26 from 57,577 tons in Q2 FY25
• Realisation pressure: Average realisation per ton fell to ₹2.19 lakhs from ₹2.52 lakhs in the same quarter last year

Management Commentary

Chaitanya Jalan, Wholetime Director of Ramkrishna Forgings, commented on the results: "The second quarter presented challenges in terms of market demand and pricing pressures. However, we remain focused on operational efficiency and long-term growth strategies."

Future Outlook

The company expects:

• Volume growth of 18-20% in H2 FY26, supported by a strong order pipeline
• Continued focus on expanding its product portfolio and geographical presence

Balance Sheet Position

As of September 30, 2025:

Recent Developments

• The company allotted 9,75,000 warrants at an issue price of ₹2,100.00 each, raising ₹5,118.75 lakhs as warrant subscription money
• A joint petition for the amalgamation of certain subsidiaries was filed with the National Company Law Tribunal, Kolkata Bench

Ramkrishna Forgings continues to navigate through a challenging market environment, focusing on operational improvements and strategic initiatives to drive future growth.