Ramkrishna Forgings Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: May 31, 2025, 8:45 pm

Market Cap	10,982 Cr.
Current Price	606
High / Low	1,064/553
Stock P/E	28.8
Book Value	163
Dividend Yield	0.33 %
ROCE	18.7 %
ROE	17.0 %
Face Value	2.00
PEG Ratio	0.35

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Ramkrishna Forgings Ltd

Competitors of Ramkrishna Forgings Ltd

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Happy Forgings Ltd	9,167 Cr.	973	1,300/716	34.3	196	0.41 %	19.2 %	15.5 %	2.00
EL Forge Ltd	44.3 Cr.	21.8	44.4/18.0	19.3	12.2	0.00 %	11.8 %	9.73 %	10.0
CIE Automotive India Ltd	17,062 Cr.	450	628/357	21.4	173	1.56 %	16.6 %	13.2 %	10.0
Amforge Industries Ltd	12.6 Cr.	8.78	15.5/7.26	26.9	9.12	0.00 %	6.46 %	3.64 %	2.00
Tirupati Forge Ltd	447 Cr.	37.8	72.9/14.0	56.8	9.05	0.00 %	12.4 %	10.0 %	2.00
Industry Average	11,056.00 Cr	328.22		87.72	153.71	0.32%	10.63%	10.09%	5.86

All Competitor Stocks of Ramkrishna Forgings Ltd

Quarterly Result

Metric	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Sales	601	719	699	824	777	892	892	899	996	1,023	959	1,054	1,074
Expenses	460	571	549	649	604	698	700	699	776	806	756	821	842
Operating Profit	141	148	150	175	173	194	192	200	220	217	204	232	231
OPM %	24%	21%	21%	21%	22%	22%	22%	22%	22%	21%	21%	22%	22%
Other Income	1	0	1	1	1	2	5	7	4	19	11	84	4
Interest	27	27	26	29	31	34	36	38	39	36	36	39	42
Depreciation	45	46	47	50	49	56	57	61	68	72	62	60	64
Profit before tax	71	75	77	98	94	106	104	109	117	128	115	218	129
Tax %	36%	-12%	33%	31%	35%	36%	24%	24%	25%	27%	30%	13%	23%
Net Profit	45	84	51	67	61	68	79	82	87	94	81	190	100
EPS in Rs	2.83	5.24	3.21	4.20	3.81	4.28	4.91	5.00	4.80	5.19	4.47	10.49	5.51

Last Updated: May 31, 2025, 7:59 am

Below is a detailed analysis of the quarterly data for Ramkrishna Forgings Ltd based on the most recent figures (Dec 2024) and their trends compared to the previous period:

For Sales, as of Dec 2024, the value is 1,074.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,054.00 Cr. (Sep 2024) to 1,074.00 Cr., marking an increase of 20.00 Cr..
For Expenses, as of Dec 2024, the value is 842.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 821.00 Cr. (Sep 2024) to 842.00 Cr., marking an increase of 21.00 Cr..
For Operating Profit, as of Dec 2024, the value is 231.00 Cr.. The value appears to be declining and may need further review. It has decreased from 232.00 Cr. (Sep 2024) to 231.00 Cr., marking a decrease of 1.00 Cr..
For OPM %, as of Dec 2024, the value is 22.00%. The value remains steady. There is no change compared to the previous period (Sep 2024) which recorded 22.00%.
For Other Income, as of Dec 2024, the value is 4.00 Cr.. The value appears to be declining and may need further review. It has decreased from 84.00 Cr. (Sep 2024) to 4.00 Cr., marking a decrease of 80.00 Cr..
For Interest, as of Dec 2024, the value is 42.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 39.00 Cr. (Sep 2024) to 42.00 Cr., marking an increase of 3.00 Cr..
For Depreciation, as of Dec 2024, the value is 64.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 60.00 Cr. (Sep 2024) to 64.00 Cr., marking an increase of 4.00 Cr..
For Profit before tax, as of Dec 2024, the value is 129.00 Cr.. The value appears to be declining and may need further review. It has decreased from 218.00 Cr. (Sep 2024) to 129.00 Cr., marking a decrease of 89.00 Cr..
For Tax %, as of Dec 2024, the value is 23.00%. The value appears to be increasing, which may not be favorable. It has increased from 13.00% (Sep 2024) to 23.00%, marking an increase of 10.00%.
For Net Profit, as of Dec 2024, the value is 100.00 Cr.. The value appears to be declining and may need further review. It has decreased from 190.00 Cr. (Sep 2024) to 100.00 Cr., marking a decrease of 90.00 Cr..
For EPS in Rs, as of Dec 2024, the value is 5.51. The value appears to be declining and may need further review. It has decreased from 10.49 (Sep 2024) to 5.51, marking a decrease of 4.98.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: May 15, 2025, 5:28 am

Metric	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	405	434	754	908	921	1,491	1,931	1,216	1,289	2,320	3,193	3,955	4,110
Expenses	341	374	623	727	758	1,202	1,545	1,008	1,065	1,802	2,499	3,113	3,225
Operating Profit	64	60	131	181	163	289	386	209	224	518	694	842	885
OPM %	16%	14%	17%	20%	18%	19%	20%	17%	17%	22%	22%	21%	22%
Other Income	4	1	12	2	7	4	3	6	5	1	4	29	117
Interest	29	23	32	55	78	73	84	80	81	97	122	154	153
Depreciation	23	25	32	53	75	85	121	121	117	169	202	258	258
Profit before tax	16	13	79	75	17	135	184	15	32	253	374	459	590
Tax %	50%	35%	5%	27%	33%	30%	35%	34%	35%	22%	34%	26%
Net Profit	8	8	75	55	11	95	120	10	21	198	248	341	464
EPS in Rs	0.83	0.65	5.49	3.81	0.78	5.82	7.36	0.59	1.29	12.36	15.52	18.89	25.66
Dividend Payout %	24%	31%	7%	11%	26%	3%	4%	-0%	-0%	14%	13%	11%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	0.00%	837.50%	-26.67%	-80.00%	763.64%	26.32%	-91.67%	110.00%	842.86%	25.25%	37.50%
Change in YoY Net Profit Growth (%)	0.00%	837.50%	-864.17%	-53.33%	843.64%	-737.32%	-117.98%	201.67%	732.86%	-817.60%	12.25%

Ramkrishna Forgings Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	25%
5 Years:	15%
3 Years:	45%
TTM:	12%

Compounded Profit Growth
10 Years:	45%
5 Years:	23%
3 Years:	152%
TTM:	22%

Stock Price CAGR
10 Years:	19%
5 Years:	78%
3 Years:	55%
1 Year:	-9%

Return on Equity
10 Years:	14%
5 Years:	14%
3 Years:	19%
Last Year:	17%

Last Updated: Unknown

Balance Sheet

Last Updated: December 14, 2024, 2:53 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	21	26	27	29	29	33	33	33	32	32	32	36	36
Reserves	231	296	383	442	440	726	840	843	851	1,046	1,290	2,648	2,906
Borrowings	263	511	735	882	957	845	912	993	1,233	1,618	1,333	1,207	1,481
Other Liabilities	117	197	297	332	433	452	417	361	587	785	1,076	1,422	1,532
Total Liabilities	632	1,031	1,442	1,685	1,858	2,056	2,201	2,230	2,703	3,481	3,731	5,312	5,955
Fixed Assets	249	242	532	947	1,024	1,076	1,114	1,175	1,240	1,473	1,693	2,428	2,532
CWIP	40	347	316	35	50	44	130	219	276	129	91	216	429
Investments	0	0	0	0	0	0	0	0	0	55	0	125	129
Other Assets	343	441	594	702	783	936	957	836	1,187	1,823	1,947	2,543	2,864
Total Assets	632	1,031	1,442	1,685	1,858	2,056	2,201	2,230	2,703	3,481	3,731	5,312	5,955

Below is a detailed analysis of the balance sheet data for Ramkrishna Forgings Ltd based on the most recent figures (Sep 2024) and their trends compared to the previous period:

For Equity Capital, as of Sep 2024, the value is 36.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 36.00 Cr..
For Reserves, as of Sep 2024, the value is 2,906.00 Cr.. The value appears strong and on an upward trend. It has increased from 2,648.00 Cr. (Mar 2024) to 2,906.00 Cr., marking an increase of 258.00 Cr..
For Borrowings, as of Sep 2024, the value is 1,481.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from 1,207.00 Cr. (Mar 2024) to 1,481.00 Cr., marking an increase of 274.00 Cr..
For Other Liabilities, as of Sep 2024, the value is 1,532.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 1,422.00 Cr. (Mar 2024) to 1,532.00 Cr., marking an increase of 110.00 Cr..
For Total Liabilities, as of Sep 2024, the value is 5,955.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 5,312.00 Cr. (Mar 2024) to 5,955.00 Cr., marking an increase of 643.00 Cr..
For Fixed Assets, as of Sep 2024, the value is 2,532.00 Cr.. The value appears strong and on an upward trend. It has increased from 2,428.00 Cr. (Mar 2024) to 2,532.00 Cr., marking an increase of 104.00 Cr..
For CWIP, as of Sep 2024, the value is 429.00 Cr.. The value appears strong and on an upward trend. It has increased from 216.00 Cr. (Mar 2024) to 429.00 Cr., marking an increase of 213.00 Cr..
For Investments, as of Sep 2024, the value is 129.00 Cr.. The value appears strong and on an upward trend. It has increased from 125.00 Cr. (Mar 2024) to 129.00 Cr., marking an increase of 4.00 Cr..
For Other Assets, as of Sep 2024, the value is 2,864.00 Cr.. The value appears strong and on an upward trend. It has increased from 2,543.00 Cr. (Mar 2024) to 2,864.00 Cr., marking an increase of 321.00 Cr..
For Total Assets, as of Sep 2024, the value is 5,955.00 Cr.. The value appears strong and on an upward trend. It has increased from 5,312.00 Cr. (Mar 2024) to 5,955.00 Cr., marking an increase of 643.00 Cr..

Notably, the Reserves (2,906.00 Cr.) exceed the Borrowings (1,481.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	-67	20	44	104	144	127	267	254	140	43	745	621
Cash from Investing Activity +	-53	-287	-272	-169	-107	-110	-254	-231	-222	-354	-299	-1,117
Cash from Financing Activity +	121	279	214	67	-37	-17	-12	-22	147	280	-438	625
Net Cash Flow	1	11	-14	1	-1	0	1	1	65	-31	8	129

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	-199.00	-451.00	-604.00	-701.00	-794.00	-556.00	-526.00	-784.00	223.00	517.00	693.00	841.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	79	114	145	136	176	126	96	103	161	140	89	78
Inventory Days	261	252	169	206	227	153	131	260	247	251	228	223
Days Payable	101	184	150	164	298	154	110	155	246	215	199	205
Cash Conversion Cycle	239	182	164	178	105	125	117	208	162	176	118	96
Working Capital Days	138	119	123	125	114	105	89	120	138	160	102	89
ROCE %		5%	11%	10%	7%	14%	16%	5%	6%	15%	19%	19%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Promoters	46.02%	46.04%	46.24%	46.24%	46.27%	46.27%	46.27%	46.27%	47.41%	43.15%	43.17%	43.17%
FIIs	17.19%	14.54%	13.51%	13.56%	14.52%	14.00%	14.80%	16.34%	18.13%	23.59%	24.54%	23.76%
DIIs	5.39%	6.89%	5.37%	4.93%	4.54%	4.71%	4.76%	4.20%	3.74%	3.62%	3.69%	4.27%
Public	31.14%	32.28%	34.69%	35.11%	34.52%	34.88%	34.02%	33.05%	30.62%	29.58%	28.53%	28.72%
Others	0.26%	0.24%	0.20%	0.17%	0.16%	0.15%	0.15%	0.13%	0.10%	0.08%	0.08%	0.08%
No. of Shareholders	13,332	29,644	43,772	56,638	61,906	58,682	60,137	66,242	83,358	85,637	83,396	96,223

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	2.00	2.00	2.00	10.00	10.00
Basic EPS (Rs.)	20.27	15.52	12.43	6.44	2.97
Diluted EPS (Rs.)	20.09	15.43	12.43	6.44	2.97
Cash EPS (Rs.)	33.17	28.13	22.98	43.02	39.94
Book Value[Excl.RevalReserv]/Share (Rs.)	148.48	82.67	67.45	276.39	268.65
Book Value[Incl.RevalReserv]/Share (Rs.)	148.48	82.67	67.45	276.39	268.65
Revenue From Operations / Share (Rs.)	218.77	199.69	145.12	403.64	373.07
PBDIT / Share (Rs.)	48.07	43.55	32.43	71.49	65.66
PBIT / Share (Rs.)	33.82	30.94	21.83	34.95	28.69
PBT / Share (Rs.)	25.43	23.42	15.84	9.94	4.54
Net Profit / Share (Rs.)	18.93	15.52	12.39	6.47	2.97
NP After MI And SOA / Share (Rs.)	18.89	15.52	12.39	6.47	2.97
PBDIT Margin (%)	21.97	21.80	22.34	17.71	17.59
PBIT Margin (%)	15.45	15.49	15.04	8.65	7.68
PBT Margin (%)	11.62	11.72	10.91	2.46	1.21
Net Profit Margin (%)	8.65	7.77	8.53	1.60	0.79
NP After MI And SOA Margin (%)	8.63	7.77	8.53	1.60	0.79
Return on Networth / Equity (%)	12.72	18.77	18.36	2.34	1.10
Return on Capital Employeed (%)	16.28	21.88	16.93	6.80	6.51
Return On Assets (%)	6.43	6.65	5.68	0.76	0.43
Long Term Debt / Equity (X)	0.28	0.57	0.80	0.75	0.54
Total Debt / Equity (X)	0.41	0.98	1.48	1.29	1.01
Asset Turnover Ratio (%)	0.87	0.88	0.74	0.52	0.50
Current Ratio (X)	1.53	1.26	1.27	1.08	0.99
Quick Ratio (X)	0.81	0.64	0.77	0.67	0.54
Inventory Turnover Ratio (X)	1.87	1.98	2.18	1.63	1.62
Dividend Payout Ratio (NP) (%)	7.15	10.95	2.42	0.00	50.51
Dividend Payout Ratio (CP) (%)	4.08	6.04	1.30	0.00	3.76
Earning Retention Ratio (%)	92.85	89.05	97.58	0.00	49.49
Cash Earning Retention Ratio (%)	95.92	93.96	98.70	0.00	96.24
Interest Coverage Ratio (X)	5.73	5.79	5.41	2.86	2.72
Interest Coverage Ratio (Post Tax) (X)	3.26	3.06	3.06	1.26	1.12
Enterprise Value (Cr.)	13433.86	5836.86	4070.96	2736.18	1373.14
EV / Net Operating Revenue (X)	3.40	1.83	1.75	2.12	1.13
EV / EBITDA (X)	15.46	8.38	7.85	11.99	6.41
MarketCap / Net Operating Revenue (X)	3.16	1.43	1.09	1.30	0.40
Retention Ratios (%)	92.84	89.04	97.57	0.00	49.48
Price / BV (X)	4.65	3.46	2.34	1.89	0.56
Price / Net Operating Revenue (X)	3.16	1.43	1.09	1.30	0.40
EarningsYield	0.02	0.05	0.07	0.01	0.01

After reviewing the key financial ratios for Ramkrishna Forgings Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 24, the value is 2.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 2.00.
For Basic EPS (Rs.), as of Mar 24, the value is 20.27. This value is within the healthy range. It has increased from 15.52 (Mar 23) to 20.27, marking an increase of 4.75.
For Diluted EPS (Rs.), as of Mar 24, the value is 20.09. This value is within the healthy range. It has increased from 15.43 (Mar 23) to 20.09, marking an increase of 4.66.
For Cash EPS (Rs.), as of Mar 24, the value is 33.17. This value is within the healthy range. It has increased from 28.13 (Mar 23) to 33.17, marking an increase of 5.04.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 148.48. It has increased from 82.67 (Mar 23) to 148.48, marking an increase of 65.81.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 148.48. It has increased from 82.67 (Mar 23) to 148.48, marking an increase of 65.81.
For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 218.77. It has increased from 199.69 (Mar 23) to 218.77, marking an increase of 19.08.
For PBDIT / Share (Rs.), as of Mar 24, the value is 48.07. This value is within the healthy range. It has increased from 43.55 (Mar 23) to 48.07, marking an increase of 4.52.
For PBIT / Share (Rs.), as of Mar 24, the value is 33.82. This value is within the healthy range. It has increased from 30.94 (Mar 23) to 33.82, marking an increase of 2.88.
For PBT / Share (Rs.), as of Mar 24, the value is 25.43. This value is within the healthy range. It has increased from 23.42 (Mar 23) to 25.43, marking an increase of 2.01.
For Net Profit / Share (Rs.), as of Mar 24, the value is 18.93. This value is within the healthy range. It has increased from 15.52 (Mar 23) to 18.93, marking an increase of 3.41.
For NP After MI And SOA / Share (Rs.), as of Mar 24, the value is 18.89. This value is within the healthy range. It has increased from 15.52 (Mar 23) to 18.89, marking an increase of 3.37.
For PBDIT Margin (%), as of Mar 24, the value is 21.97. This value is within the healthy range. It has increased from 21.80 (Mar 23) to 21.97, marking an increase of 0.17.
For PBIT Margin (%), as of Mar 24, the value is 15.45. This value is within the healthy range. It has decreased from 15.49 (Mar 23) to 15.45, marking a decrease of 0.04.
For PBT Margin (%), as of Mar 24, the value is 11.62. This value is within the healthy range. It has decreased from 11.72 (Mar 23) to 11.62, marking a decrease of 0.10.
For Net Profit Margin (%), as of Mar 24, the value is 8.65. This value is within the healthy range. It has increased from 7.77 (Mar 23) to 8.65, marking an increase of 0.88.
For NP After MI And SOA Margin (%), as of Mar 24, the value is 8.63. This value is within the healthy range. It has increased from 7.77 (Mar 23) to 8.63, marking an increase of 0.86.
For Return on Networth / Equity (%), as of Mar 24, the value is 12.72. This value is below the healthy minimum of 15. It has decreased from 18.77 (Mar 23) to 12.72, marking a decrease of 6.05.
For Return on Capital Employeed (%), as of Mar 24, the value is 16.28. This value is within the healthy range. It has decreased from 21.88 (Mar 23) to 16.28, marking a decrease of 5.60.
For Return On Assets (%), as of Mar 24, the value is 6.43. This value is within the healthy range. It has decreased from 6.65 (Mar 23) to 6.43, marking a decrease of 0.22.
For Long Term Debt / Equity (X), as of Mar 24, the value is 0.28. This value is within the healthy range. It has decreased from 0.57 (Mar 23) to 0.28, marking a decrease of 0.29.
For Total Debt / Equity (X), as of Mar 24, the value is 0.41. This value is within the healthy range. It has decreased from 0.98 (Mar 23) to 0.41, marking a decrease of 0.57.
For Asset Turnover Ratio (%), as of Mar 24, the value is 0.87. It has decreased from 0.88 (Mar 23) to 0.87, marking a decrease of 0.01.
For Current Ratio (X), as of Mar 24, the value is 1.53. This value is within the healthy range. It has increased from 1.26 (Mar 23) to 1.53, marking an increase of 0.27.
For Quick Ratio (X), as of Mar 24, the value is 0.81. This value is below the healthy minimum of 1. It has increased from 0.64 (Mar 23) to 0.81, marking an increase of 0.17.
For Inventory Turnover Ratio (X), as of Mar 24, the value is 1.87. This value is below the healthy minimum of 4. It has decreased from 1.98 (Mar 23) to 1.87, marking a decrease of 0.11.
For Dividend Payout Ratio (NP) (%), as of Mar 24, the value is 7.15. This value is below the healthy minimum of 20. It has decreased from 10.95 (Mar 23) to 7.15, marking a decrease of 3.80.
For Dividend Payout Ratio (CP) (%), as of Mar 24, the value is 4.08. This value is below the healthy minimum of 20. It has decreased from 6.04 (Mar 23) to 4.08, marking a decrease of 1.96.
For Earning Retention Ratio (%), as of Mar 24, the value is 92.85. This value exceeds the healthy maximum of 70. It has increased from 89.05 (Mar 23) to 92.85, marking an increase of 3.80.
For Cash Earning Retention Ratio (%), as of Mar 24, the value is 95.92. This value exceeds the healthy maximum of 70. It has increased from 93.96 (Mar 23) to 95.92, marking an increase of 1.96.
For Interest Coverage Ratio (X), as of Mar 24, the value is 5.73. This value is within the healthy range. It has decreased from 5.79 (Mar 23) to 5.73, marking a decrease of 0.06.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is 3.26. This value is within the healthy range. It has increased from 3.06 (Mar 23) to 3.26, marking an increase of 0.20.
For Enterprise Value (Cr.), as of Mar 24, the value is 13,433.86. It has increased from 5,836.86 (Mar 23) to 13,433.86, marking an increase of 7,597.00.
For EV / Net Operating Revenue (X), as of Mar 24, the value is 3.40. This value exceeds the healthy maximum of 3. It has increased from 1.83 (Mar 23) to 3.40, marking an increase of 1.57.
For EV / EBITDA (X), as of Mar 24, the value is 15.46. This value exceeds the healthy maximum of 15. It has increased from 8.38 (Mar 23) to 15.46, marking an increase of 7.08.
For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 3.16. This value exceeds the healthy maximum of 3. It has increased from 1.43 (Mar 23) to 3.16, marking an increase of 1.73.
For Retention Ratios (%), as of Mar 24, the value is 92.84. This value exceeds the healthy maximum of 70. It has increased from 89.04 (Mar 23) to 92.84, marking an increase of 3.80.
For Price / BV (X), as of Mar 24, the value is 4.65. This value exceeds the healthy maximum of 3. It has increased from 3.46 (Mar 23) to 4.65, marking an increase of 1.19.
For Price / Net Operating Revenue (X), as of Mar 24, the value is 3.16. This value exceeds the healthy maximum of 3. It has increased from 1.43 (Mar 23) to 3.16, marking an increase of 1.73.
For EarningsYield, as of Mar 24, the value is 0.02. This value is below the healthy minimum of 5. It has decreased from 0.05 (Mar 23) to 0.02, marking a decrease of 0.03.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Ramkrishna Forgings Ltd as of June 1, 2025 is: 640.55

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of June 1, 2025, Ramkrishna Forgings Ltd is Undervalued by 5.70% compared to the current share price 606.00

Intrinsic Value of Ramkrishna Forgings Ltd as of June 1, 2025 is: 1,164.89

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of June 1, 2025, Ramkrishna Forgings Ltd is Undervalued by 92.23% compared to the current share price 606.00

Last 5 Year EPS CAGR: 81.86%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The company has shown consistent growth in sales (264.46 cr) and profit (172.46 cr) over the years.	The stock has a low average ROCE of 10.58%, which may not be favorable. The stock has a high average Working Capital Days of 118.50, which may not be favorable. The stock has a high average Cash Conversion Cycle of 155.83, which may not be favorable. The company has higher borrowings (997.69) compared to reserves (995.54), which may suggest financial risk.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Ramkrishna Forgings Ltd:
1. Net Profit Margin: 8.65%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 16.28% (Industry Average ROCE: 10.63%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 12.72% (Industry Average ROE: 10.09%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 3.26
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 0.81
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 28.8 (Industry average Stock P/E: 87.72)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.41
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Ramkrishna Forgings Ltd. is a Public Limited Listed company incorporated on 12/11/1981 and has its registered office in the State of West Bengal, India. Company's Corporate Identification Number(CIN) is L74210WB1981PLC034281 and registration number is 034281. Currently Company is involved in the business activities of Manufacture of other fabricated metal products; metalworking service activities. Company's Total Operating Revenue is Rs. 3489.61 Cr. and Equity Capital is Rs. 36.16 Cr. for the Year ended 31/03/2024.

INDUSTRY	ADDRESS	CONTACT
Forgings	23, Circus Avenue, Kolkata West Bengal 700017	secretarial@ramkrishnaforgings.com http://www.ramkrishnaforgings.com

Management
Name	Position Held
Mr. Mahabir Prasad Jalan	Chairman Emeritus & Non Executive Director
Mr. Naresh Jalan	Managing Director
Mr. Lalit Kumar Khetan	WholeTime Director & CFO
Mr. Chaitanya Jalan	Whole Time Director
Mr. Milesh Gandhi	Whole Time Director
Ms. Rekha Shreeratan Bagry	Ind. Non-Executive Woman Director
Mr. Sanjay Kothri	Ind. Non-Executive Director
Mr. Amitabha Guha	Ind. Non-Executive Director
Mr. Sandipan Chakravortty	Ind. Non-Executive Director
Mr. Partha Sarathi Bhattacharyya	Ind. Non-Executive Director
Mr. Ranaveer Sinha	Ind. Non-Executive Director

FAQ

What is the intrinsic value of Ramkrishna Forgings Ltd?

Ramkrishna Forgings Ltd's intrinsic value (as of 31 May 2025) is ₹640.55 — 5.70% higher the current market price of 606.00, indicating undervalued. Calculated using the PE ratio method, this valuation considers the company's 10,982 Cr. market cap, FY2025-2026 high/low of ₹1,064/553, reserves of 2,906 Cr, and liabilities of 5,955 Cr.

What is the Market Cap of Ramkrishna Forgings Ltd?

The Market Cap of Ramkrishna Forgings Ltd is 10,982 Cr..

What is the current Stock Price of Ramkrishna Forgings Ltd as on 31 May 2025?

The current stock price of Ramkrishna Forgings Ltd as on 31 May 2025 is 606.

What is the High / Low of Ramkrishna Forgings Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of Ramkrishna Forgings Ltd stocks is ₹1,064/553.

What is the Stock P/E of Ramkrishna Forgings Ltd?

The Stock P/E of Ramkrishna Forgings Ltd is 28.8.

What is the Book Value of Ramkrishna Forgings Ltd?

The Book Value of Ramkrishna Forgings Ltd is 163.

What is the Dividend Yield of Ramkrishna Forgings Ltd?

The Dividend Yield of Ramkrishna Forgings Ltd is 0.33 %.

What is the ROCE of Ramkrishna Forgings Ltd?

The ROCE of Ramkrishna Forgings Ltd is 18.7 %.

What is the ROE of Ramkrishna Forgings Ltd?

The ROE of Ramkrishna Forgings Ltd is 17.0 %.

What is the Face Value of Ramkrishna Forgings Ltd?

The Face Value of Ramkrishna Forgings Ltd is 2.00.