Ramkrishna Forgings Limited has released the transcript of its earnings conference call for Q3 and 9M of FY 2025-26, which was held on January 27, 2026. The call featured the company's senior management, including Managing Director Mr. Naresh Jalan and CFO Mr. Lalit Khetan, along with analysts and investors. During the call, management discussed the mixed performance of Q3 FY26, influenced by global geopolitical tensions and input cost volatility, while noting a conducive domestic environment driven by strong macroeconomic fundamentals and GST rate rationalization. The company highlighted its strategic focus on deepening its domestic footprint and expanding into adjacent growth segments like Railways and Passenger Vehicles. Financial highlights for Q3 FY26 included a consolidated net revenue of ₹1,098 crore, a 2% year-on-year increase. EBITDA, excluding other income, was ₹163 crore, up 29% year-on-year, with EBITDA margins at 14.9%. Profit after tax was ₹13.6 crore, impacted by exceptional provisioning of ₹10.43 crore for gratuity and leave under the new Labour Code. New orders worth ₹680 crore were secured in Q3 FY26, with 66% from the automotive sector and 34% from non-automotive segments. The company is seeing strong momentum in its railway business, with integration into bogie assemblies and anticipated bulk orders from Indian Railways worth ₹2,000 crore for the forthcoming year. The casting facility is under trial run and expected to commence commercial production in Q4 FY26, and the machining facility in Mexico is nearing commissioning. Management expressed confidence in future growth, with plans to drive higher utilization across new capacities. They anticipate a 10-15% year-on-year growth in top line for the next three years and are working towards improving EBITDA margins. Debt reduction remains a focus, with a target to bring it below ₹2,000 crore by the end of FY26.
