Ramkrishna Forgings Ltd

About [ edit ]

Ramkrishna Forgings is primarily engaged in manufacturing and sale of forged components of automobiles, railway, wagons and engineering parts.

  • Market Cap 2,006 Cr.
  • Current Price 634
  • High / Low 675 / 140
  • Stock P/E 97.0
  • Book Value 276
  • Dividend Yield 0.00 %
  • ROCE 5.73 %
  • ROE 2.35 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 7.26% over past five years.
  • Company has a low return on equity of 5.87% for last 3 years.
  • Company might be capitalizing the interest cost
  • Dividend payout has been low at 1.36% of profits over last 3 years
  • Company has high debtors of 161.08 days.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
423 487 541 479 401 294 284 240 114 252 403 520
336 388 434 389 327 245 235 204 118 207 327 414
Operating Profit 87 99 107 90 74 49 49 36 -5 45 76 106
OPM % 21% 20% 20% 19% 18% 17% 17% 15% -4% 18% 19% 20%
Other Income 1 0 1 1 0 1 1 4 1 1 1 2
Interest 18 21 22 21 21 19 19 20 19 20 22 19
Depreciation 27 28 33 33 33 28 29 30 22 25 33 37
Profit before tax 43 50 54 37 21 2 3 -10 -45 2 23 53
Tax % 35% 34% 36% 32% 33% 37% 10% 26% 35% 21% 34% 36%
Net Profit 28 33 34 25 14 1 2 -8 -29 1 15 34
EPS in Rs 8.55 10.13 10.50 7.63 4.22 0.37 0.70 -2.32 -9.14 0.45 4.63 10.60

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
405 434 754 908 921 1,491 1,931 1,216 1,289
341 374 623 727 758 1,202 1,545 1,008 1,066
Operating Profit 64 60 131 181 163 289 386 209 223
OPM % 16% 14% 17% 20% 18% 19% 20% 17% 17%
Other Income 4 1 12 2 7 4 3 6 6
Interest 29 23 32 55 78 73 84 80 80
Depreciation 23 25 32 53 75 85 121 121 117
Profit before tax 16 13 79 75 17 135 184 15 32
Tax % 50% 35% 5% 27% 33% 30% 35% 34% 35%
Net Profit 9 8 75 55 11 95 120 10 21
EPS in Rs 4.16 3.24 27.45 19.02 3.91 29.13 36.77 2.97 6.46
Dividend Payout % 24% 31% 7% 11% 26% 3% 4% 0% 0%
Compounded Sales Growth
10 Years:%
5 Years:7%
3 Years:-5%
TTM:6%
Compounded Profit Growth
10 Years:%
5 Years:-18%
3 Years:-40%
TTM:108%
Stock Price CAGR
10 Years:19%
5 Years:12%
3 Years:-6%
1 Year:286%
Return on Equity
10 Years:%
5 Years:7%
3 Years:6%
Last Year:2%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
21 26 27 29 29 33 33 33 32
Reserves 218 289 377 442 440 726 840 843 851
Borrowings 263 511 735 882 957 845 912 993 1,139
130 204 303 332 433 452 417 361 682
Total Liabilities 632 1,031 1,442 1,685 1,858 2,056 2,201 2,230 2,704
249 242 532 947 1,024 1,076 1,114 1,175 1,240
CWIP 40 347 316 35 50 44 130 219 276
Investments 0 0 0 0 0 0 0 0 0
343 441 594 702 783 936 957 836 1,188
Total Assets 632 1,031 1,442 1,685 1,858 2,056 2,201 2,230 2,704

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
-67 20 44 104 144 127 267 254 140
-53 -287 -272 -169 -107 -110 -254 -231 -222
121 279 214 67 -37 -17 -12 -22 147
Net Cash Flow 1 11 -14 1 -1 0 1 1 65

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 5% 11% 10% 7% 14% 16% 5% 6%
Debtor Days 79 114 145 136 176 126 96 103 161
Inventory Turnover 1.77 2.61 2.33 2.03 3.16 3.39 1.74 1.85

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
44.41 44.78 44.77 44.79 44.28 44.80 44.80 44.91 45.48 45.89 45.90 45.90
17.94 18.09 11.00 11.30 11.72 11.91 10.50 12.50 9.70 10.31 14.76 15.55
17.35 17.82 16.38 19.00 18.73 16.45 14.96 13.06 14.42 12.73 10.06 7.94
20.30 19.31 27.68 24.76 25.27 26.55 29.41 29.08 29.95 30.61 28.82 30.16
0.00 0.00 0.17 0.14 0.00 0.28 0.33 0.45 0.45 0.46 0.46 0.45

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