Ramkrishna Forgings Ltd

Ramkrishna Forg. Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Ramkrishna Forgings Ltd

₹ 773 5.63%
19 Apr - close price
ramkrishnaforgings.com BSE: 532527 NSE : RKFORGE
About

Ramkrishna Forgings Ltd is primarily engaged in manufacturing and sale of forged components of automobiles, railway wagons & coaches and engineering parts. [1][2] It is the 2nd largest forging player in India.[3]

Key Points

Product Portfolio
Forged Products: It includes products in the weight ranges of 2 kg to 200 kg such as Crankshaft, I Beam, Knuckle, Diff Case etc. [1]
Rolled Products: It has a fully automated Ring Rolling Line along with ISO thermal Annealing line and CNC controlled Vertical Machining Centers with Robo drills to fully machine as per customer's requirement. [2]
Machined Products: It includes different types of Gears, Front hub, Pitman arm, Prop Shaft etc. [3] The company added 51 new product categories and 7 new fabrication products in FY23.[4]

Website BSE NSE
  • Market Cap ₹ 13,966 Cr.
  • Current Price ₹ 773
  • High / Low ₹ 815 / 311
  • Stock P/E 45.7
  • Book Value ₹ 85.4
  • Dividend Yield 0.26 %
  • ROCE 17.8 %
  • ROE 19.4 %
  • Face Value ₹ 2.00
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Pros

  • Company has delivered good profit growth of 19.9% CAGR over last 5 years
  • Debtor days have improved from 129 to 88.2 days.
  • Company's median sales growth is 20.5% of last 10 years
  • Company's working capital requirements have reduced from 141 days to 101 days

Cons

  • Stock is trading at 9.05 times its book value
  • Promoter holding has decreased over last quarter: -4.28%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Castings, Forgings & Fastners Industry: Castings & Forgings

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
402 518 417 579 606 683 651 763 752 835 836 865 903
324 410 322 440 466 532 507 592 586 647 648 667 695
Operating Profit 78 108 95 139 140 151 144 170 166 188 188 198 208
OPM % 19% 21% 23% 24% 23% 22% 22% 22% 22% 23% 22% 23% 23%
1 2 1 0 2 0 1 1 1 2 5 3 2
Interest 21 18 20 21 26 26 26 28 30 32 34 37 36
Depreciation 33 37 39 40 45 46 47 50 49 56 57 59 63
Profit before tax 25 55 37 79 71 79 72 93 89 102 101 105 110
Tax % 34% 35% 34% 37% 36% -9% 34% 31% 35% 35% 24% 25% 25%
17 36 25 50 45 87 47 64 58 67 77 80 82
EPS in Rs 1.04 2.23 1.54 3.13 2.82 5.41 2.95 3.99 3.59 4.18 4.81 4.84 4.55
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
500 404 426 743 894 881 1,435 1,807 1,112 1,288 2,285 3,001 3,439
417 342 368 615 717 722 1,150 1,426 907 1,057 1,758 2,332 2,658
Operating Profit 83 62 58 127 178 159 285 380 205 231 528 669 781
OPM % 17% 15% 14% 17% 20% 18% 20% 21% 18% 18% 23% 22% 23%
0 1 2 13 3 8 4 3 6 4 2 4 11
Interest 20 22 23 31 53 76 70 80 76 77 94 116 139
Depreciation 27 23 25 31 53 75 84 121 120 116 169 201 235
Profit before tax 36 19 13 78 75 16 134 182 14 41 266 356 419
Tax % 32% 41% 34% 5% 27% 33% 29% 35% 33% 33% 22% 34%
24 11 8 75 55 11 95 119 10 28 206 236 306
EPS in Rs 2.68 1.05 0.65 5.44 3.83 0.76 5.81 7.31 0.59 1.75 12.89 14.73 18.38
Dividend Payout % 15% 19% 31% 7% 10% 26% 3% 4% 0% 0% 13% 14%
Compounded Sales Growth
10 Years: 22%
5 Years: 16%
3 Years: 39%
TTM: 21%
Compounded Profit Growth
10 Years: 36%
5 Years: 20%
3 Years: 188%
TTM: 20%
Stock Price CAGR
10 Years: 39%
5 Years: 50%
3 Years: 96%
1 Year: 143%
Return on Equity
10 Years: 12%
5 Years: 13%
3 Years: 15%
Last Year: 19%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 18 21 26 27 29 29 33 33 33 32 32 32 33
Reserves 170 220 291 378 443 441 727 840 844 858 1,062 1,293 1,511
178 260 504 720 863 936 823 881 955 1,209 1,604 1,267 1,461
126 125 192 280 300 406 430 395 347 581 738 1,040 1,212
Total Liabilities 493 626 1,013 1,406 1,634 1,812 2,012 2,150 2,179 2,680 3,437 3,632 4,217
246 242 234 524 939 1,016 1,068 1,106 1,167 1,233 1,466 1,685 1,761
CWIP 4 40 347 316 35 50 44 130 216 272 125 85 178
Investments 0 6 7 7 7 19 19 19 19 19 74 19 234
242 339 425 560 653 725 882 895 777 1,156 1,772 1,842 2,044
Total Assets 493 626 1,013 1,406 1,634 1,812 2,012 2,150 2,179 2,680 3,437 3,632 4,217

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
77 -58 28 49 109 144 125 273 251 126 39 778
-43 -61 -292 -273 -172 -108 -110 -254 -225 -226 -353 -297
-37 123 275 210 64 -37 -15 -17 -26 164 279 -471
Net Cash Flow -2 3 11 -14 1 -1 0 2 0 64 -36 10

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 52 73 98 129 116 163 120 94 99 159 140 88
Inventory Days 172 261 252 169 209 227 153 131 258 245 242 220
Days Payable 105 94 164 129 137 274 148 104 149 244 203 194
Cash Conversion Cycle 119 240 186 169 188 116 125 121 208 160 179 114
Working Capital Days 71 141 113 116 117 107 101 87 116 159 164 101
ROCE % 16% 9% 5% 10% 10% 7% 14% 16% 5% 6% 15% 18%

Shareholding Pattern

Numbers in percentages

6 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
45.90% 45.99% 46.02% 46.04% 46.24% 46.24% 46.27% 46.27% 46.27% 46.27% 47.41% 43.15%
15.55% 16.19% 17.19% 14.54% 13.51% 13.56% 14.52% 14.00% 14.80% 16.34% 18.13% 23.59%
7.94% 6.94% 5.39% 6.89% 5.37% 4.93% 4.54% 4.71% 4.76% 4.20% 3.74% 3.62%
30.16% 30.46% 31.14% 32.28% 34.69% 35.11% 34.52% 34.88% 34.02% 33.05% 30.62% 29.58%
0.45% 0.43% 0.26% 0.24% 0.20% 0.17% 0.16% 0.15% 0.15% 0.13% 0.10% 0.08%
No. of Shareholders 9,59114,85513,33229,64443,77256,63861,90658,68260,13766,24283,35885,637

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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