Ramkrishna Forgings Allots 16,000 Equity Shares Under ESOP 2015

Ramkrishna Forgings Limited has allotted 16,000 equity shares to an employee under its Employee Stock Option Plan (ESOP) 2015. The allotment was made to Mr. Sakti Prasad Senapati on May 8, 2026, pursuant to the exercise of options as per the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.

Details of the Allotment

The transfer of shares will be executed from the Ramkrishna Forgings Limited Employee Welfare Trust to the designated employee. The shares have a face value of Rs. 2/- per share. The exercise price for the equity shares is Rs. 80/- per share, which includes a premium of Rs. 78/- per equity share.

Sl. No. Name of Employees No. of Equity Shares Face Value per Equity Share 1. Mr. Sakti Prasad Senapati 16,000 Rs. 2/-

Scheme and Regulatory Compliance

The issuance follows the Ramkrishna Forgings Limited – Employee Stock Option Plan 2015. The company filed the necessary statement with the National Stock Exchange of India Limited and BSE Limited on December 1, 2015. The shares issued are identical in all respects to the existing shares and rank pari passu with them. No shares were allotted in physical form, and the ISIN number for the shares issued in Demat form is INE399G01023.

Company Information

Ramkrishna Forgings Limited is listed on both the National Stock Exchange of India Limited and BSE Limited. The registered and corporate office is located at 23 Circus Avenue, Kolkata 700017, West Bengal, India. The company's CIN number is L74210WB1981PLC034281.

Ramkrishna Forgings has shared a detailed forward-looking guidance during its concall update, highlighting expectations across North America operations, domestic segment performance, capital allocation, and capacity utilization for FY27. Management expressed confidence in sustained revenue growth and margin improvement, underpinned by operational milestones across forging, casting, cold forging, and joint venture businesses.

North America and Revenue Growth Outlook

Management indicated that North America performance is anticipated to be a growth year in FY27, with Class 8 truck volumes expected to sustain for at least two years, specifically until Q3 calendar year 2027. On the overall revenue front, management expects continued healthy revenue growth for FY27, though no specific number was provided, with confidence in surpassing previous growth estimates.

The export mix is expected to significantly improve over the next two years, exceeding 40% of overall volumes, which is projected to lead to a considerable improvement in margins.

EBITDA Margins and Trailer Axle Business Targets

Ramkrishna Forgings provided specific margin guidance contingent on energy price pass-through. The trailer axle segment also carries defined revenue and market share ambitions for FY27. Key guidance parameters are summarised below:

Parameter: Details EBITDA Margin Improvement: At least 100 to 250 basis points over Q4 FY26 levels Condition for Margin Improvement: Successful pass-through of energy price increases Trailer Axle Revenue Target (FY27): INR250 crores Trailer Axle Market Share Target (FY27): 10% Export Mix Target (Next Two Years): Exceeding 40% of overall volumes

Capital Expenditure and Debt Reduction

On the capital allocation front, management outlined a disciplined approach balancing growth investments with balance sheet strengthening. The following table captures the key CapEx and debt-related guidance:

Parameter: Details CapEx Estimate (FY27): INR300-400 crores CapEx Focus: Value-added projects and joint venture contributions Debt Reduction Target: INR400-500 crores

Capacity Utilization Targets Across Segments

Ramkrishna Forgings has set specific utilization targets across its forging, casting, and cold forging operations for FY27. The casting business is expected to benefit from new capacity additions, while cold forging utilization is tied to global market approvals in the passenger vehicle sector.

Segment: Utilization Target (FY27) Additional Details Overall (Forging + Casting): 80-85% by end of FY27 — Casting Business: 85-90% New capacity to contribute INR400-500 crores in revenue Cold Forging: 75-80% by end of FY27 Subject to global market approvals for passenger vehicle sector

Rail Wheel Joint Venture: Commercial Production in Q1 FY27

The Rail Wheel joint venture represents a significant milestone in Ramkrishna Forgings' diversification strategy. The venture anticipates commercial production by Q1 FY27, with plans to supply 40,000 wheels to Indian Railways during FY27, generating approximately INR400-450 crores in revenue. This addition is expected to meaningfully contribute to the company's overall revenue profile in the coming fiscal year.

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