Interim report
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Date: 30 October 2026 To, National Stock Exchange of India Limited BSE Limited Listing Department Department of Corporate Services Exchange Plaza, Bandra Kurla Complex Floor 25, Phiroze Jeejeebhoy Towers Bandra (East) Dalal Street Mumbai 400 051 Mumbai 400 001 Symbol: RKFORGE Scrip Code: 532527 Dear Sir / Madam, Sub.: Qutcom Board Meeti ursuant to Regulations 30 and 33 of the SEBI (Li: in; Obligations and Disclosure Requirements) Regulations 2015 (‘SEBI LODR Regulations, 2015’ Pursuant to Regulations 30 and 33 read with Schedule III and other applicable provisions of the SEBI LODR Regulations, 2015, please be informed that the Board of Directors at its meeting held today i.e Friday, 30 October, 2026, has inter-alia, considered and approved the following: > Financial Results a) Un-audited Financial Results (Standalone and Consolidated) for the Quarter and Half Year ended 30 September, 2026 together with the Limited Review Reports issued by Joint Statutory Auditors of the Company, copies of the same are enclosed; b) Un-audited Statement of Assets and Liabilities (Standalone & Consolidated) for the Half Year ended 30 September, 2026; ¢) Un-audited Cash Flow Statement (Standalone & Consolidated) for the Half Year ended 30 September, 2026; > 1stInterim Dividend for the Financial Year 2026-27 Declared 15t Interim Dividend of Rs. 2/- (Rupees Two) per Equity Share of face value Rs. 2/- (Rupees Two) each for the Financial Year 2026-27. The said dividend will be paid within 30 (thirty) days from the date of declaration. The same is subject to TDS. > Record Date for the purpose of 1st Interim Dividend for the Financial Year 2026-27 Fixed Friday, 6 November, 2026 as the Record Date for the purpose of payment of 1st Interim Dividend for the Financial Year 2026-27 to be paid to the eligible shareholders. > INDIA'S 2020 EGISTERED & CORPORATE.OFFIC 23 CIRCUS AVENUE, KOLKATA 700017, WEST BENGAL, INDIA PHONE : (+91 33)4082 0900 / 7122 0900, FAX : (+91 33)4082 0998 / 7122 0998, EMAIL : info@ramkrishnaforgings.com, WEB : www.ramkrishnaforgings.com CINNO .1 74210WR10R1D1 FN24921 " RAMKRISHNA FORGINGS LIMITED Tiie Ecoxonc Tires GROWTH CHAMPIONS
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RAMKRISHNA FORGINGS LIMITED > Appointment of Directors Appointment of Mr. Subir Chakraborty (DIN: 00130864) and Mr. Anurag Vohra (DIN: 10253815), as Non-Executive Independent Directors of the Company, not liable to retire by rotation fora term of 5 (five) consecutive years with effect from 30 October 2026, based on the recommendation of Nomination & Remuneration Committee. The said appointment is subject to the approval of Shareholders of the Company. The information as required under Regulation 30 of the SEBI LODR Regulations, 2015 read with SEBI Master Circular Ho/49/14/14(7)2025-CFD-POD2/1/3762/2026 last updated on January 30, 2026 , in connection with the above-mentioned appointment is enclosed herewith and marked as Annexure A. > Alteration in the object clause of Memorandum of Association (MOA) Alteration in the Object Clause of the Memorandum of Association of the Company, subject to the approval of the Shareholders of the Company. The information as required under Regulation 30 of the SEBI LODR Regulations, 2015 read with SEBI Master Circular Ho/49/14/14(7)2025-CFD-POD2/1/3762/2026 last updated on January 30, 2026, in connection with the above-mentioned alteration in MOA is enclosed herewith and marked as Annexure B. > Amendment to the RKF Limited Employee Stock Option Scheme 2023 Amendment to the RKF Limited Employee Stock Option Scheme 2023 (‘RKFLESOP Scheme 2023") including the extension of the applicability of the Scheme to the employees of the subsidiaries of the Company, as recommended by the Nomination and Remuneration Committee. The said modification / amendment to the RKFL ESOP Scheme 2023 is subject to the approval of the Shareholders of the Company. > Postal Ballot Notice Approved Postal Ballot Notice to seek the approval of the shareholders of the Company. » Additional Investment in Joint Venture Company Increase in the investment limit by Rs. 56.76 Crores (Rupees Fifty-Six Crores and Seventy-Six Lakhs only) in one or more tranches, by way of equity contribution, in Ramkrishna Titagarh Rail Wheels Limited, the joint venture Company, based on the recommendation of the Audit Committee. The information as required under Regulation 30 of the SEBI LODR Regulations, 2015 read with SEBI Master Circular Ho/49/14/14(7)2025-CFD-POD2/1/3762/2026 last updated on January “Tue Ecoxose Tres INDIA'S GROWTH CHAMPIONS 2020 s 23 CIRCUS AVENUE, KOLKATA 700017, WEST BENGAL, INDIA PHONE : (+91 33)4082 0900 / 7122 0900, FAX : (+91 33)4082 0998 / 7122 0998, EMAIL : info@ramkrishnaforgings.com, WEB : www.ramkrishnaforgings.com CIN N 1 74210WR1QR1PI £N249R1
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'RAMKRISHNA FORGINGS LIMITED 30, 2026, in connection with the above-mentioned investment is enclosed herewith and marked as Annexure C. » Policy of the Company Amendment to the following Policies of the Company: - . Policy on Anti-Bribery and Anti-Corruption Policy of Ramkrishna Forgings Limited ‘ . Policy on preservation & archival of documents/ records of Ramkrishna Forgings Limited | . Policy on prevention, prohibition and redressal of sexual harassment at the workplace ° Policy For Determining of Material Subsidiary ° Corporate Social Responsibility Policy The Board Meeting commenced at 2:30 P.M. (IST) and concluded at 4:00 P.M. (IST). This intimation is also being made available on the website of the Company at www.ramkrishnaforgings.com. Request you to take the above information on record. Thanking you. Yours faithfully, For Ramkrishna Forgings Limited Rajesh Mundra ACS12991 Encl.: Stated as above PHONE : (+91 33)4082 0900 / 7122 0900, FAX : (+91 33)4082 0998 / 7122 0998, EMAI Tk Ecoxone Tiyes INDIA'S GROWTH CHAMPIONS 2020 statsz EGISTERED & CORPORATE OFEICE 23 CIRCUS AVENUE, KOLKATA 700017, WEST BENGAL, INDIA + info@ramkrishnaforgings.com, WEB : www.ramkrishnaforgings.com A34901 PINNA 1 74210WB1001
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Annexure A 'RAMKRISHNA FORGINGS LIMITED Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular Ho/49/14/14(7)2025-CFD- POD2/1/3762/2026 last updated on January 30, 2026: Particulars Details Details Name of Director Mr. Subir Chakraborty Mr. Anurag Vohra DIN 00130864 10253815 Reason for change viz. | Appointment Appointment appointment, re- appeintment; resignation,—removal; death-er-etherwise date of appointment/re- | The Board of Directors at its | The Board of Directors at its meeting appeintment/cessation | meeting held on 30 October 2026 | held on 30 October 2026 has approved {as-applieable} & term of | has approved the appointment of | the appointment of Mr. Anurag Vohra appointment/re- Mr. Subir Chakraborty with | with immediate effect. i.e. 30 October appointment immediate effect. i.e. 30 October | 2026 as Non-Executive Independent 2026 as Non-Executive Independent Director, not liable to retire by rotation for a term of 5 (five) consecutive years with effect from 30 October 2026. The said appointment is subject to the approval of Shareholders. Director, not liable to retire by rotation for a term of 5 (five) consecutive years with effect from 30 October 2026. The said appointment is subject to the approval of Shareholders. Brief profile (in case of appointment); Mr. Subir Chakraborty, aged 68 years, holds a degree in B-Tech (Mechanical Engineering) from IIT Madras, and a Post Graduate Diploma in Management from [IM Calcutta. He has spent more than four decades working in various capacities in several organizations such as Berger Paints, Balmer Lawrie & Co. Ltd and Exide Industries Ltd (“Exide”), out of which he spent more than two and half decades in Exide. He joined the Exide’s Board in 2013 serving in various capacities and held the position of the Managing Director & CEO of Exide (2021-2024), before his retirement. He has received several accolades and awards during his career, including _the India__Energy Mr. Anurag Vohra, aged 56 years, holds a degree in BE (Mechanical) from NIT Surat and a Post Graduate Diploma in Business Administration, Annamalai University. He is a senior business leader with over three decades of experience across automotive, commercial vehicles, electric mobility and industrial sectors. His expertise spans business strategy, P&L management, manufacturing, supply chain, product development, technology, capital expenditure and business transformation. He has most recently served as Chief Operating Officer at TI Clean Mobility Private Limited (Murugappa Group), where he led electric mobility businesses across electric small commerecial vehicles, electric medium and heavy commercial vehicles and electric tractors. He was involved in T Ecoxowic Tores INDIA'S GROWTH CHAMPIONS 2020 sutiars 23 CIRCUS AVENUE, KOLKATA 700017, WEST BENGAL, INDIA PHONE : (+91 33)4082 0900 / 7122 0900, FAX : (+91 33)4082 0998 / 7122 0998, EMAIL : info@ramkrishnaforgings.com, WEB : www.ramkrishnaforgings.com PNINEYN
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RAMHRISHNA FORGINGS LIMITED Storage Alliance (IESA) Lifetime Achievement Award in May 2023 as well as the Distinguished Alumnus Award from Indian Institute of Management, Calcutta in November 2023. He has been deeply involved in business bodies and associations and was a former President of Bengal Chamber of Commerce & Industry (BCCI). He has also been a National Council Member of Confederation of Indian Industry (CIl) for the years 2022-24. Presently, he serves on the boards of Strides Pharma Science Ltd and IFB Industries Ltd as an Independent Director. establishing manufacturing facilities, developing supply-chain and technology capabilities, driving new product initiatives, capital expenditure and project funding, and served on the Boards of two subsidiaries. Previously, he held senior leadership positions at Tata Motors, Volvo Eicher Commercial Vehicles, Reliance Industries and Kirloskar Brothers, gaining extensive experience across OEM and industrial businesses. He currently works as an independent Strategic Advisor in EV and Mobility, advising businesses and investors on strategy, electric mobility, automotive opportunities, manufacturing and business transformation. Disclosure of | Mr. Subir Chakraborty does not | Mr. Anurag Vohra does not have any relationships ~ between | have any inter se relation with | inter se relation with other directors (in case of | other directors/KMPs of the | directors/KMPs of the company appointment of a | company director). Information as required under BSE Circular no. LIST/COMP/14/2018-19 and NSE circular no. NSE/CML/2018/24, dated June 20,2018 Mr. Subir Chakraborty is not debarred from holding the office of Director by virtue of any order passed by the Securities and Exchange Board of India or any other Statutory Authority. Mr. Anurag Vohra is not debarred from holding the office of Director by virtue of any order passed by the Securities and Exchange Board of India or any other Statutory Authority. EGISTERED!& CORPORATE OFFIC T Ecovoane Toies INDIA'S GROWTH CHAMPIONS 2020 st 23 CIRCUS AVENUE, KOLKATA 700017, WEST BENGAL, INDIA ~in N PHONE : (+91 33)4082 0900 / 7122 0900, FAX : (+91 33)4082 0998 / 7122 0998, EMAIL : info@ramkrishnaforgings.com, WEB : www.ramkrishnaforgings.com 17421nmD 100181 AAD ARG
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Annexure B Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular Ho/49/14/14(7)2025-CFD- POD2/1/3762/2026 last updated on January 30, 2026: Rationale for Alteration of Main Objects The Company is exploring to foray into the business of designing, developing, manufacturing, engineering etc. of products, systems and solutions etc. for semi- conductors, aerospace applications, drones defense, and other related technologies etc. by itself or through its subsidiaries. To diversify into the new business activities, the Company shall be required to insert new clause under its objects to the Memorandum of Association (“MOA"). Accordingly, it was considered necessary to alter the object clause of the MOA to enable the Company to enter into the abovesaid new business activities. The said alteration in object clause of the MOA is subject to the approval of the shareholders of the Company. Brief Details of Amendment to Clause 11(A) of the MOA Clause IILA. of the Memorandum of Association (MOA) of the Company be altered by adding the following new sub-clause 9 after the existing sub-clause 8: “9. To promote, undertake, carry on either on its own or through any other entity or to enter into agreements, contracts, partnership, alliance or any other arrangement for technical, financial and operational assistance or sharing of profits / losses with any Person / Body / Bodies Corporate incorporated in India or abroad either under a Strategic Alliance or Joint Venture or any other arrangement, in India or abroad, the business of designing, developing, manufacturing, operating, simulation, engineering, integrating, testing, commissioning, validating, fabricating, forging, erecting, installing, remodelling, delivering, assembling, repairing, servicing, refurbishing, upgrading, overhauling, hiring, renting, distributing, trading, marketing, buying, selling, importing, exporting, supplying and dealing in all types and varieties, descriptions, specifications, characteristics, and applications of engineering and technological products, Systems, equipment, cameras, armaments, tools, machines and Components used for various commercial, industrial, agricultural, civil, defence and space applications including but not limited to Rocket & Missile, Electronic warfare and surveillance, Battle tanks and armoured vehicles, other Land systems, Arms & ammunitions, Naval systems, Space Research & Exploration, Unmanned Aerial vehicles (UAVs), Unmanned Aircraft System (UASs), Small Unmanned Aerial Vehicle(SUAVs), Route Patrolling Vehicle (RPV), Remotely Piloted Aircrafts (RPAs), Unmanned Water Vehicle(UWV), Unmanned Ground Vehicle (UGV), Counter UAVs, Drones, Drone Controllers etc, and commissioning systems, projects comprising of technologies involving Mechanical, Optical, Electrical, Electronic, Software & other related technologies required for commercial, industrial, agricultural, Semi-Conductor, Defence, Space, Aerospace and allied industry, by contact or non-contact method, with in-house or outsourced facilities.” EGISTERED)& CORPORATE OFFIC 23 CIRCUS AVENUE, KOLKATA 700017, WEST BENGAL, INDIA PHONE : (+91 33)4082 0900 / 7122 0900, FAX : (+91 33)4082 0998 / 7122 0998, EMAIL : info@ramkrishnaforgings.com, WEB : www.ramkrishnaforgings.com FIN NN .17421NWR1QR1DI FN24221 RAMKRISHNA FORGINGS LIMITED Ttk Ecoxomc Toues INDIA'S GROWTH CHAMPIONS 2020 sutsars |
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'RAMKRISHNA FORGINGS LIMITED Annexure C Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular Ho/49/14/14(7)2025-CFD- POD2/1/3762/2026 last updated on January 30, 2026: Sr. Particulars Details No. a) Name of the target entity, details in brief | Ramkrishna Titagarh Rail Wheels Limited such as size, turnover etc. ("RTRWL"), joint venture. The paid-up Capital as on date: Rs. 5,32,64,74,490. Turnover as on date: Yet to commence commercial production. The Company holds 51% stake in this joint venture and is the lead partner of the consortium. The rest 49% stake is being held by Titagarh Rail Systems Limited (‘TRSL"). b) Whether the acquisition would fall | The investment by the Company is falling within within related party transaction(s) and | related party transaction (except in case of rights whether the promoter/ promoter group/ | issue). group companies have any interest in the entity being acquired? If yes, nature of | The Company is interested in said transaction to interest and details thereof and whether | the extent of its Shareholding. the same is done at “arm’s length” c) |Industry to which the entity being | Itis a joint Venture for manufacturing and supply acquired belongs of forged wheels. d) | Objects and impact of acquisition | RTRWL is setting up Asia’s second-largest forged (including but not limited to, disclosure | wheel manufacturing plant in Puduvoyal Village, of reasons for acquisition of target entity, | District Tiruvallur, Chennai, Tamil Nadu, with an if its business is outside the main line of | annual capacity of around 2,28,000 wheels business of the listed entity) (“Project”). The total project cost is estimated at Rs. 2181.41 Crores, divided into two phases. Under the Phase- 1, the Company has undertaken to establish the entire plant along with the full forging capacity of around 2,28,000 wheels and 1% Phase of the Machining Line. Under the 2% Phase the Company had planned to increase the machining capacity. e) Brief details of any governmental or | Nosuch approvals required. regulatory approvals required for the acquisition f) Indicative time period for completion of | The Investment will be in one or more tranches. the acquisition “Thie Ecoxowic Thyies. INDIA'S GROWTH CHAMPIONS 2020 st EGISTERED/& CORPORATEIOFFIC 23 CIRCUS AVENUE, KOLKATA 700017, WEST BENGAL, INDIA PHONE : (+91 33)4082 0900 / 7122 0900, FAX : (+91 33)4082 0998 / 7122 0998, EMAIL : info@ramkrishnaforgings.com, WEB : www.ramkrishnaforgings.com PINCNA 1 74910R1021D1 PN24921
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RAMHRISHNA FORGINGS LIMITED g Consideration - whether cash Subscription in cash. consideration or share swap or any other form and details of the same h) Cost of acquisition and/or the price at Additional Investment of Rs. 56.76 crores in one or which the shares are acquired more tranches. i) Percentage of shareholding / control 51% acquired and / or number of shares acquired ) Brief background about the entity Ramkrishna Titagarh Rail Wheels Limited acquired in terms of products/line of business acquired, date of Date of Incorporation: 09/06/2023 incorporation, history of last 3 years turnover, country in which the acquired | Turnover as on 31.03.2026- Yet to Commence entity has presence and any other Commercial Production. significant information (in brief) Tue EcoxouicToues INDIA'S GROWTH CHAMPIONS 2020 soas EGISTERED & CORPORATE OFFIC 23 CIRCUS AVENUE, KOLKATA 700017, WEST BENGAL, INDIA PHONE : (+91 33)4082 0900 / 7122 0900, FAX : (+91 33)4082 0998 / 7122 0998, EMAIL : info@ramkrishnaforgings.com, WEB : www.ramkrishnaforgings.com CIN NO .1 74210WR1QR1PI FN2A2R1
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S.R. Batliboi & Co. LLP S. K. Naredi & Co LLP Chartered Accountants Chartered Accountants 22, Camac Street Park Mansions, Block-1, 3rd Floor 3rd Floor, Block B Room Nos. 5, 57A Park Street Kolkata — 700 016. Kolkata — 700 016. Independent Auditor’s Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors Ramkrishna Forgings Limited 1. We, S.R. Batliboi & Co. LLP (“SRBC”) and S. K. Naredi & Co. LLP (“SKN”), have jointly reviewed the accompanying statement of unaudited standalone financial results of Ramkrishna Forgings Limited (the “Company”) which includes one (1) Trust (Ramkrishna Forgings Limited Employee Welfare Trust) for the quarter ended September 30, 2026 and year to date from April 01, 2026 to September 30, 2026 (the “Statement”) attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations”). 2. The Company’s Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) “Interim Financial Reporting” prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Company’s Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted as above and based on the consideration of the review report of other auditor of the Ramkrishna Forgings Limited Employee Welfare Trust referred to in paragraph 5 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standards ('Ind AS’) specified under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
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5. The accompanying Statement of quarterly and year to date interim standalone financial results include the unaudited interim financial results in respect of Ramkrishna Forgings Limited Employee Welfare Trust whose interim financial results and other financial information reflect total assets of Rs 19.62 crore as at September 30, 2026 and total revenues of Rs Nil and Rs 0.03 crore, total net profit/(loss) after tax of Rs. (0.01) crore and Rs. 0.03 crore and total comprehensive income/(loss) of Rs. (0.01) crore and Rs. 0.03 crore for the quarter ended and for the period ended on that date respectively, and net cash outflows of Rs. 0.47 crore for the period from April 01, 2026 to September 30, 2026, as considered in the Statement which have been reviewed by the auditor of Ramkrishna Forgings Limited Employee Welfare Trust. The report of such auditor on interim financial results/financial information of this trust has been furnished to us by the Management, and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this trust, is based solely on the report of such other auditor. Our conclusion on the Statement is not modified in respect of the above matter. For S.R. BATLIBOI & CO. LLP For M/S. S.K. NAREDI & CO. LLP Chartered Accountants Chartered Accountants ICAI Firm registration number: 301003E/E300005 ICAI Firm registration number: 003333C/C400397 r Navin Agrawal per Abhijit Bose Partner Partner Membership No.: 056102 Membership No.: 056109 UDIN: 26056102HBHSKP7610 UDIN: 26056109VXCGHV2734 Place: Kolkata Place: Kolkata Date: October 30, 2026 Date: October 30, 2026
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RAMKRISHNA FORGINGS LIMITED Regd. Office: 23 Circus Avenue, Kolkata - 700017 HIE (All amounts in INR Crores, unless otherwise stated) Statement of Unaudited Standalone Financial Results for the Quarter and Six Months period ended September 30, 2026 Quarter ended Six-Months period ended | Year ended s September 30, | June 30, 2026 | September 30, | September 30, | September 30, | March 31, 2026 . Particulars 2% 225 202 2025 (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) Income 1. |Revenue from operations 1,255.02 1,007.22 800.79 235224 1,737.48 375492 2. [Other income 78 445 814 12.24 1255 18.97 3._|Total Income (1+2) 1,262.80 110168 808.93 236448 1,750.03 377389 4. |Expenses 2) Cost of materials consumed 642.14 593.22 40400 1,236.36 878.99 1,885.50 b) (Increase) / Decrease in inventories of inshed goods, work in ) ;w& L" dscp 9 (6.88) (64.53) (5.28) (71.41) 14.35 94.85 o) Employee benefits expense 6496 59.41 57.84 12437 11353 218.28 d) Powerand fuel 5958 6459 5128 12447 106.11 206.46 €) Finance costs 4848 468 4521 95.12 86.59 176.06 ) Depreciation and amortisation expenses 8236 7958 702 16194 138.74 28293 g) Other expenses 28046 25126 185.07 531.72 38185 783.41 Total expenses (a to g) 171,06 103021 808.44 220127 172016 3,641.49 5._|Profit before exceptional fems and tax (3-4) 9174 7147 049 16321 2987 126.40 6._|Exceptional items (Refer note 5) - - - - - (959) 7._|Profit before tax (5+6) 9174 7147 049 16321 2987 1671 8. |Tax expenses ] a) Current tax - - - - - - b) Tax adjustments for eatier years 014 - . 014 - - ) Deferred tax charge 2387 19.29 0.42 4316 7.9 3020 [Total tax expense 2401 1929 042 [ 759 020 9._|Profitfor the period / year (7-8) 6773 5218 037 11991 2188 86,51 10. |Other Comprehensive Income / (Loss) Ttems that will not be reclassified to proft or loss in subsequent perodiyear i) Re-measurement of defined employe benefit plans (042) (0.42) (059) (084) (1.10) (1.68) i) Income tex effect on above 010 0.1 014 021 0.28 042 Other Comprehensive Income / (Loss) for the period / year 0.32) 0.31) (041) 063) ©0.82) (1.26) 11._[Total Comprehensive Income ! (Loss) for the periodiyear (§+10) 67.41 51.87 (0.04) 11928 2106 8525 12._|Paid-up Equity Share Capital (Face Value of € 2 per share] 3704 %37 3646 3704 .16 %29 13._|Other Equity 32349 14. [Eamings per Equity Share (EPS) (after exceptional ftems) (€] (Face value per share ¥ 2I- each) (not annualised for interim periods) 1) Basic 372 287 0.02 6.60 121 478 2) Diluted 365 281 002 646 121 476 See accompanying notes. CIN No:L74210WB1981PLC034281, Phone: 033-4082 0900/ 0337122 0900, F: : 033-4082 0998 / 033-7122 0998, email: info@ramkrishnaforgings.com, Website:www.ramkrishnaforgings.com
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RAMKRISHNA FORGINGS LIMITED Regd. Office: 23 Circus Avenue, Kolkata - 700017 & b NOTES TO UNAUDITED STANDALONE FINANCIAL RESULTS: i 1. Statement of Assets and Liabilities: (All amounts in INR Crores, unless otherwise stated) Asat Asat Particulars September 30,2026 | March 31, 2026 (Unaudited) (Audited)* A |ASSETS Non-current assets (a) Property, plant and equipment 2,919.65 2892.86 (b) Capital work-in-progress 288.34 187.96 (c) Goodwil 459 459 (d) Other Intangible assets 326 385 (€) Right-of-use assets 59.86 71.99 (f) Financial assets (i) Investments 58961 558.11 (i) Loans 85.47 85.26 (i) Other financial assets 3876 3420 (g) Deferred tax assets (net) - 15.01 (h) Non-current tax assets (net) 994 13219 (i) Other non-current assets 184.26 154.75 Sub total - Non-current assets| 4,183.74 4,140.77 Current assets (a) Inventories 1,260.77 1,079.16 (b) Financial assets (i) Investments. 4368 358 (ii) Trade receivables 1,075.54 867.10 (iii) Cash and cash equivalents 9174 128.60 (i) Bank balances other than (ii) above 102 066 (v) Loans 094 0.94 (vi) Other financial assets 1605 17.23 (c) Other current assets 140.56 13961 Sub total - Current assets| 2,630.30 2,236.88 TOTAL - ASSETS 6,814.04 6,377.65 B |EQUITY AND LIABILITIES Equity (2) Equity share capital 37.04 36.29 (b) Other equity 3,544.44 3,238.49 Total equity 3,56148 327478 Liabilities Non-current liabilities (a) Financial liabilies (i) Borrowings 1,20269 107356 (ii) Lease liabiliies 828 3347 (i) Other financial liabilities 15.62 1272 (b) Deferred tax liabilies (net) 27.94 - (c) Other non-current liabilities 3170 3343 Sub total - Non-current liabilities| 1,376.23 1,153.18 Current lial s (a) Financial liabities (i) Borrowings 33211 698.07 (il Lease liabilities 35.90 212 (ii) Trade payables 2) Total outstanding dues of micro enterprises and small enterprises 64.50 51.59 b) Total outstanding dues of creditors other than micro enterprises and small enterprises. 1,167.91 97317 (iv) Other financial liabilties 164.10 141.47 (b) Other current liabilities 3834 3691 (c) Provisions 2521 2536 (d) Currenttax iabilties (net) 28.26 - Sub total - Current liabilities 1,856.33 1,949.69 Total liabilities| 3,232.56 3,102.87 TOTAL- EQUITY AND LIABILITIES 6,814.04 6,377.65 * In accordance with recent amendment in Ind AS 1 (Para 69) and Ind AS 10 (Para 3) certain borrowings have been reclassified between current and non- current balances. N 4 \\9/ \O } CIN No'L74210WB1981PLC034281, Phone: 033-4082 0900/ 033-7122 09 0334082 09851 033-7122 0998, emal o @ramkisnnaiorgi & G} Websiteswww.ramkrishngloro gwsmrfi\O N\ y &~ 8/
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RAMKRISHNA FORGINGS LIMITED Regd. Office: 23 Circus Avenue, Kolkata - 700017 NOTES TO UNAUDITED STANDALONE FINANCIAL RESULTS: 2. Statement of Unaudited Standalone Cash Flows: (All amounts in INR Crores, unless othervise stated) Particulars Six months. Sixmonths period ended period ended September 30,2026 || September 30, 2025 (Unaudited) (Unaudited) A CASH FLOW FROM (USED IN) OPERATING ACTIVITIES: Profit before Tax (afer exceptionalitems) 16321 08 Adjustments to reconcile profit before tax to net cash flows: Depreciaton and amortizaton expenses 161.94 13874 Loss Profi) on sale of property,plant and equipment (ne) 017 @78) Employees stock opton expenses 225 500 Netgain on Investments carried at far value through proftor loss 1) (©.12) Inteest income (5:88) (.69) Netforeign exchange diffrences (unvealsed) (11.23) (43.36) Subsidies / Governmen Grants (@47) (173) Income on financial guarantees / shortfall undertaking (262)] - Finance costs %12 859 Operating Profit before changes in operating assets and liabilities 038 206.5% Changes In operating sssets and liabilfties: (Increase) / Decrease in trade receivables® (194.74)| 14.35 Increase in inventores (18161) (39.05) (ncrease) / Decrease in oans ©21) 024 (Increase) Decrease in other financial assets 183 907 (ncrease) Decrease in other assels 013 053 Increase / (Dectease) in provisions (099) 434 Increase / (Decrease) in rade payables 2733 (221.07) Increase / (Decrease) i other inancia liabiltes (61) 478 Increase / (Decrease) n other labiies 2% @r.78) Cash generated from/ (used in) operations 2677 (55.03) Direc tax (paid)/ rfund (Net) 15039 89) NET CASH FLOW FROM (USED IN) OPERATING ACTVITIES (A) EZ0 032) B NETCASHUSED ININVESTING ACTIVITIES: Purchase of property, plant and equipment including cazl::\]w';yvkfimpmglei: anih\ crediors and capital advances) (28560) (851.12) Proceads from sale of property, plant and equipment 134 381 Investments in fixed deposits with banks (409) Proceeds from maturity of fixed deposits with banks 401 Loan given to subsidery companies (1835) Proceed from redemption of optionally convertible debentures. 1.00 Investment in subsidary comparies - (17.51) Investment in Joint Venture Company (26.86) (26.05) Investment in Mutuel Funds (4000) - Intrest Received 63 612 NET CASH USED IN INVESTING ACTIVITIES (8) @as) @712 C. CASHFLOW FROM/ (USED IN) FINANCING ACTIVITIES: Proceeds from issue of equity share capita including securities premium (Refer note 6 & 7) 085 - Money received against Share Warrants (Refer note § & 7) 2270 5119 Purchase of own equity shares (1hrough ESOP rusf - (1038) Dividend paid on equity shares (18.18) (18.10) Principal repayment on lease (11.44)) (7.67)) Interest pad on lease liablies %) (3.09) Interest paid (9415) (©.71) Proceeds from long tern borrowings 27755 32130 Repayment of long ferm borrowings (153.32) (153.37) Shortterm borrowings (nef) (27059) 36369 NET CASH FLOWS FROM / (USED IN) FINANCING ACTIVITEES (€) 0.27) ] NET INCREASE! (DECREASE) IN CASH AND CASH EQUIVALENTS (A+B+C) (36.66) %R Opening Cash and cash equivalents 12850 11.58 Closing Cash and cash equivalents 91.74 35.81 NET INCREASE! (DECREASE) IN CASH AND CASH EQUIVALENTS (36.86) %2 * Net of bills discounted on non-recourse basis ¥ 505.24 Crores (Seplember 30, 2025 : € 379.11 Crores) ‘email: info@ramkrishnaforgings.com Webs CIN No:L74210WB1981PLC034281, Phone: 033-4082 0900/033-7122 0900, Fax: 033-4082 0998 033-7122 0998, s ramicrishnaforgings.com
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RAMKRISHNA FORGINGS LIMITED Regd. Office: 23 Circus Avenue, Kolkata - 700017 NOTES TO UNAUDITED STANDALONE FINANCIAL RESULTS: 3 The above unaudited standalone financial results for the quarter and six months period ended September 30, 2026 have been reviewed by the Audit Committee and thereafter approved by the Board of Directors of the Company t their respective mestings held on October 30, 2026. These unaudited standalone financial results have been subjected to limited review by stafutory auditors of the Company. 4 The Company manufaclures *Forging components" and the management reviews the performance of the Company as a single operaling segment in accordance with Ind AS-108 “Operating Segments" notfied pursuant to the Companies (Indian Accounting Standards) Rules, 2015, Accordingly, no separate segment information has been furmished herewith. 5 Exceptional items includes : (&) % 9.41 crores accounted during the year ended March 31, 2026, due to impact of new labour codes effective from November 21, 2025. (b) 41.77 crores, being excess Electicity Duty collected for the period til March 31, 2025 under the Jharkhand Electicity Duty (Amendment) Act, 2021, by ‘Jharkhand Biji Vitran Nigam Limited (JBVNLY and ‘Tata Steel Utiies And Infrastructure Services Limited (TSUISLY that is not payable pursuant to the Horble Jharkhand High Court Order dated January 5, 2026 that has held Jharkhand Electrcity Duty (Amendment) Act, 2021 ultra vires the Bihar Electicity Duty Act 1948. The Company had also accounted for excess electicity duty paid of 2 10.55 crores pertaining to FY 2025-2026 resultng in total receivable of Z 52.32 crores ffom JBVNL and TSUISL. (6) 42.05 crores being provision made on prudent basis, during the quarter and year end March 31, 2026 towards expected credit loss (ECL) on tstrade receivables due to disruptions ariing from the conflict in West Asia and tarifs imposed by the US Govemment having arisen due to factors beyond the Company's control and not expected to recur. 6 On August 14, 2025, the Company has alltted 9.75,000 warrants, with fight to the warrant holder to apply for and be allotied one equity share of face value of ¥ 2)- each of the Company at an issue price of ¥ 2,100.00 each aggregating lo ¥ 204.75 crores, upon receipt of 25% of the issue price (.. ¥ 525.00 per warant) as warrant subscription money amounting to ¥ 51.19 crores. During the quarter ended March 31, 2026 and June 30, 2026, the Company has received the balance 75 % of the issue price ( i.e. %1,575.00 per warrant) for 6,40,000 warrans & 3,35,000 warrants amounting to Z 100.80 crores and Z 52.76 crores respecively. This has been considered for calculating diuted eaming per equity shares, as applicable. 7 On January 14, 2026, the Company has further allotted 34,00,000 warrants, with a fight to the warrant holder to apply for and be allotied one equity share of face value of 2 2/- each of the Company at an issue price of X 588.00 each aggregating to ¥ 199.92 crores upon recept of 25% of the issue price as wanant subscription money amounting to ¥ 49.98 crores. During the quarter ended September 30, 2026, the Company has received the balance 75% of the issue price for 34,00,000 warrants amounting to 149.94 crores. This has been considered for calculating diluted eaming per equity shares, as appiicable & The Board of Directors of the Company at its mesting held on May 01, 2026, has alltted 1,64,413 equity shares of 21- each at the grant price of Z 556/- per share (including the premium of Z 554/- per share) amounting to % 9.14 crores to Ramkrishna Forgings Limited Employee Welfare Trust (RKFL ESOP Trust) under the RKF Limited - Employee Stock Option Scheme 2023 (‘ESOP Scheme) with the corresponding accounting being conducted in accordznce with Ind AS 102 — Share-Based Paymen. The financial results of the RKFL ESOP Trust have been included in the Standalone Financial Results of the Company in accordance with the requirements of Ind AS and the cost of outstanding treasury shares has been presented as a deduction in Equity. Addtionally, the impact of this ESOP Scheme has been factored into the calculation of eamings per equity share, in compliance with Ind AS 33 - Eamings Per Share. 9 Pursuant to the provisions of section 197, 198 and other applicable provsions of Companies Act, 2013 read with schedule V of the said act, as amended, the Company at the annual general meeling held on August 29, 2026 hes taken approval from the shareholders of the Company for the excess managerial remuneration paid amounting to Z 5.10 crores for the period from April 1, 2025 to March 31, 2026, by way of special resolution. 10 The Board of Directors of the Company has recommended an interim dividend of Z 2/- per share on Equity Shares of ¥ 2/- each. By the Order of the Board (URR Place : Kolkata Naresh Jalan Date : October 30, 2026 (Managing Director) DIN: 00375462 CIN No:L74210WB1981PLC034281, Phone: 033-4082 0900/ 033-7122 0900, Fax: 033-4082 0998 / 033-7122 0998, email: info@ramkrishnaforgings.com, Website:www.ramkrishnaforgings.com
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S.R. Batliboi & Co. LLP S. K. Naredi & Co LLP Chartered Accountants Chartered Accountants 22, Camac Street Park Mansions, Block-1, 3rd Floor 3rd Floor, Block B Room Nos. 5, 57A Park Street Kolkata - 700 016. Kolkata — 700 016. Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended Review Report to The Board of Directors Ramkrishna Forgings Limited 1. We, S.R. Batliboi & Co. LLP (“SRBC”) and S. K. Naredi & Co. LLP (“SKN"), have jointly reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Ramkrishna Forgings Limited (the “Holding Company” including Ramkrishna Forgings Limited Employee Welfare Trust) and its subsidiaries (the Holding Company and its subsidiaries together referred to as “the Group”), and its joint venture for the quarter ended September 30, 2026 and year to date from April 01, 2026 to September 30, 2026 (the “Statement”) attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “Listing Regulations”). 2. The Holding Company’s Management is responsible for the preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, (Ind AS 34) “Interim Financial Reporting” prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The Statement has been approved by the Holding Company’s Board of Directors. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the Master Circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent applicable. 4. The Statement includes the results of the following entities: a. Ramkrishna Forgings Limited — Holding Company
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b. Ramkrishna Forgings Limited Employee Welfare Trust (included in the standalone financial results of the Holding Company) C. Ramkrishna Forgings LLC — wholly owned subsidiary of the Holding Company d. Ramkrishna Casting Solutions Limited (formerly known as “JMT Auto Limited”) — wholly owned subsidiary of the Holding Company e. Ramkrishna Forgings Mexico S.A. de C.V. (Formerly known as Resortes Libertad, S.A. de C.V.) — wholly owned subsidiary of the Holding Company f. Ramkrishna Titagarh Rail Wheel Limited — Joint Venture of the Holding Company 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors/practitioners referred to in paragraph 6 and 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in the aforesaid Indian Accounting Standards (‘Ind AS’) specified under Section 133 of the Companies Act, 2013, as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. 6. The accompanying Statement includes the unaudited interim financial results in respect of Ramkrishna Forgings Limited Employee Welfare Trust, whose interim financial results and other financial information reflect total assets of Rs 19.62 crore as at September 30,2026 and total revenues of Rs Nil and Rs 0.03 crore, total net profit/(loss) after tax of Rs. (0.01) crore and Rs. 0.03 crore and total comprehensive income/(loss) of Rs. (0.01) crore and Rs. 0.03 crore for the quarter ended September 30, 2026 and for the period ended on that date respectively, and net cash outflows of Rs. 0.47 crore for the period from April 01, 2026 to September 30, 2026 as considered in the standalone unaudited interim financial results of the Holding Company included in the Group which has been reviewed by the auditor of Ramkrishna Forgings Limited Employee Welfare Trust. The independent auditor’s report of Ramkrishna Forgings Limited Employee Welfare Trust has been furnished to us by the Management, and our conclusion on the Statement in so far as it relates to the amounts and disclosures included in respect of Ramkrishna Forgings Limited Employee Welfare Trust, is based solely on the report of such other auditor and the procedures performed by us as stated in paragraph 3 above. 7. The accompanying Statement includes the unaudited interim financial results and other financial information, in respect of: e One (1) subsidiary, whose unaudited interim financial results include total assets of Rs. 1,263.16 crore as at September 30, 2026, total revenues of Rs 239.37 crore and Rs 433.74 crore, total net profit after tax of Rs. 7.09 crore and Rs. 8.40 crore, total comprehensive income of Rs. 6.49 crore and Rs.7.21 crore, for the quarter ended September 30, 2026 and the period ended on that date respectively, and net cash outflows of Rs. 0.19 crore for the period from April 01, 2026 to September 30, 2026, as considered in the Statement which have been reviewed by one of the joint auditors.
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* Two (2) subsidiaries, whose unaudited interim financial results include total assets of Rs. 296.18 crore as at September 30, 2026, total revenues of Rs. 83.70 crore and Rs. 151.77 crore, total net loss after tax of Rs. 2.49 crore and Rs. 4.95 crore, total comprehensive loss of Rs. 2.81 crore and Rs.3.77 crore, for the quarter ended September 30, 2026 and the period ended on that date respectively, and net cash outflows of Rs. 26.12 crore for the period from April 01, 2026 to September 30, 2026, as considered in the Statement which have been reviewed by their respective independent practitioners. « One (1) joint venture, whose unaudited interim financial results include Group's share of net loss of Rs.0.68 crore and Rs.1.29 crore and Group's share of total comprehensive loss of Rs. 0.67 crore and Rs.1.26 crore for the quarter ended September 30, 2026 and for the period from April 01, 2026 to September 30, 2026 respectively, as considered in the Statement whose unaudited interim financial results and other financial information have been reviewed by its independent auditor. The independent auditor's / practitioners’ reports on interim financial information/ financial results of these entities have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures in respect of these subsidiaries and joint venture is based solely on the report of such auditors/practitioners and procedures performed by us as stated in paragraph 3 above. Our conclusion on the Statement in respect of matters stated in para 6 and 7 above is not modified with respect to our reliance on the work done and the reports of the other auditors/practitioners. For S.R. BATLIBOI & CO. LLP For M/S. S.K. NAREDI & CO. LLP Chartered Accountants Chartered Accountants ICAI Firm registration number: 301003E/E300005 ICAI Firm registration number: 003333C/C400397 er Navin Agrawal per Abhijit Bose Partner Partner Membership No.: 056102 Membership No.: 056109 UDIN: 26056102HADCGU8063 UDIN: 26056109IKAVUP4251 Place: Kolkata Place: Kolkata Date: October 30, 2026 Date: October 30, 2026
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RAMKRISHNA FORGINGS LIMITED s- Regd. Office: 23 Circus Avenue, Kolkata - 700017 (All amounts in INR Crores, unless otherwise stated) [Statement of Unaudited Consolidated Financial Results for the Quarter and Six Months period ended September 30, 2026 Quarter ended Six Months period ended Year ended s September 30, | June 30,2026 | September 30, | September 30, | September 30, | March 31, 2026 o Particulars 226 225 2% 225 g (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) Income 1. [Revenve from operations 140542 121667 90753 26209 192279 423808 2. (Other income 420 344 575 764 938 1312 3._|Total Income (1 +2) 1409.62 122011 51328 260973 193247 425120 4. [Expenses &) Costof materials consumed 69072 63069 43848 132141 2141 205009 b) Purchase of raded goods - B 239 - 293 545 ©) (increase) / Decrease in invenlories o inished goods, work i progress, traded gonds and 530 (2869) (71.60) (663) (100.25) 798 10651 d) Employes benefis expense i 7546 6859 16323 13509 25683 € Power and fuel 7226 775 6062 14982 12654 24686 #) Finance costs 6156 57.13 534 11869 10153 21035 g) Depreciation and amortsation expenses 10273 9044 8038 0217 16005 33289 b Other expenses 3709 2609 2183 62318 45768 92763 Total expenses (ato h) 131348 15477 91870 246825 191361 413861 5._[Profit before exceptional ftems & share of loss of jint venture and tax (3-0) 96,14 534 (542) 16148 1856 11259 6._|Exceptional ltems (Refer nole 8) - - - - - (10.72) 7. | Profit before share of loss of jint venture and tax (5+6] %44 534 42) 16148 1856 10147 8._[Share ofloss ofjintventure (056) (0561) (485) (1.29) (1151) (17.85] 9. [Profitbefore tax (7+8) 9545 5473 (10.27), 16019 705 8402 10. [Tax expenses. 2) Curenttax 001 002 152 003 305 - b) Taxadjustments for earlier years 014 - - 014 - 010 ) Deferred tax chargel(Credit) 272 783 (29 4255 71 1211 Total tax expense 24.87 17.85 (0.77) 4212 476 1221 11, [Profit for the period ] year (3-10) 7059 4688 (0.50) 1747 23 ] 12. |Other Comprehensive Income (Loss) Htems that will not b reclassifed o profitor loss i subsequent period/ year ) Re-measurement of defined employee beneftplans (122) (121) (055) (243 (1.23) (@79) ) Income tax efiect on above 030 031 014 061 026 122 i) Share of Other Comprehensive Income in Joint Verture (net of tax) 001 002 - 003 - 005 Hems that will e reclassifid to profit or 1o in subsequen period / year i) Exchange difierence on translaton offoreign operations 034) 136 24 102 179 549 i) Income tax effect on above - 015 (003) 015 (003) (008) Other Comprehensive Income (Loss) for the period /year (125) 063 200 052) 079 189 13._|Total Comprehensive Income / (Loss) for the period / year (11+12) 69.34 47.51 (7.50)| 11685 3.08 73.70 14, |Profi atributable to |Equity holder of the holding company 70.59 46.88 (9.50)| 1741 22 7181 [Non-controlling interests. - - - - - - 15._|Other Comprehensive Income (Loss) afributable to: [Equity hoder ofthe holding company (125) 063 200 ©052) 079 189 [Non-controlling interests - - - . - - 16._|Total Comprehensive Income (Loss) attributable to: [Equity holder of the holding company 6934 47510 50) 11685 308 730 [Non-controling inferests - - - - - - 17._|Paid-up Equity Share Capital (Face Value of ¥ 2/- per share) 37.04 36.37 36.16 37.04 36.16 36.29 18._|Other Equity 325441 75, |Earmings per Equity Share (EPS) (aher exceptional tems) (%) (Face value per share Z 21- each) (not annualised for interim periods) 7)Basic 38 258 05) 45 013 397 2) Divted 380 28 (©52) 633 013 395 See accompanying notes. CIN No:L74210WB1981PLC034281, Phone: 033-4082 0900/ 033-7122 0300, Fax: 033-4082 0998 ] 033-7122 0998, ‘email: info@ramkrishnaforgings.com. Website:www.ramkrishnaforgings.com
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T RAMKRISHNA FORGINGS LIMITED i 7_@ Regd. Office: 23 Circus Avenue, Kolkata - 700017 X NOTES TO UNAUDITED CONSOLIDATED FINANCIAL RESULTS: 1 1. Consolidated Statement of Assets and Liabiltes: “(All amounts i INR Crores, nless otherwise stated) Consalidated Asat Asat Particulars ‘September 30,2026 March 31,2026 (Unaudited) (Audited) * A ASSETS Non-current assets (a) Property, plant and equipment 346059 343065 (b) Capital work-in-progress w74 3672 (c) Goodil 7087 7087 (9) Other Infangibl assels 4641 4868 (6) Rightotuse assels 19657 2250 (0 Investment acoounted for using equly method %573 2719 (o) Financial assets (0 Investments 00 0419 (i) Loans 26 241 (i) Other fnancial assels w2 5346 () Deferred tax Assefs (nef 636 1902 9 Non-curent tax assets (nel) 1005 13219 () Other non-current assets 23811 18753 Sub total - Non-current assets| 184034 473021 Current assets (a) Inventories 146895 120615 {b) Financial assets 9 Investmenis 4368 359 () Trade receivables . 102529 79493 (i) Cash and cash equivalent 9089 16223 (W) Bank balances other then (i) above 664 067 ) Loans 106 100 ) Other financialassets 430 733 (0) Current tx assets nef) 48 353 (0) Other curent assets 23455 2831 Sub total - Curtent assets| 286844 284774 TOTAL - ASSETS . 772878 1715 B EQUITY AND LIABILITIES Equity (@) Equity share capltal 70 %29 () Other equity 356763 325411 Total equity 35467 329040 Liabilities Non-current liabiities (a) Financial labilies () Borrowings 176142 151969 (i) Lease abiiies 5037 %72 (i) Other fnancial bilties: 1226 1027 (0) Deferre tax abiltes net) : an 1800 (¢) Other non-current liabes %2 %2 Sub total - Non-current lbilies| 80554 756000 Currentliabiiies (e) Financial iabilios ) Borowings 3156 8153 (i) Lease liabilies 517 3801 (i) Trade payables 2) Total outstanding dues of micro enterprises and small enlerprises 7658 69.12 ) Total outstanding dues ofcreditors other than micr enterprises and small enterpises 137794 107551 (1) Other fnancial iabiltes 18244 15753 (b) Other curent iabites 0325 033 (0 Provisons 27 3145 {0) Currenttax iabiltes (net 5 02% Sub total - Current lablities 222857 222155 Tota labilies| 413411 388755 TOTAL- EQUITY AND LIBILITIES 712878 717795 ‘Noil74210WB1981PLC034281, Phone: 033-4062 09001 0337122 0907, Fax; 03340 Wehm:m.m{;qi_hji naforghgs.co =
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T 3 HAEH RAMKRISHNA FORGINGS LIMITED Regd. Office: 23 Circus Avenue, Kolkata - 700017 & NOTES TO UNAUDITED CONSOLIDATED FINANCIAL RESULTS: 0 2. Statement of Unaudited Consolidated Cash Flows: (All amounts in INR Crores, uness otherwise stated) Six Months period | _ Six Months period ended ended Particulars September 30,2026 | September 30, 2025 (Unaudited) (Unaudited) A CASH FLOW FROM/ (USED IN) OPERATING ACTIVITIES: Profit before tax from continuing operations 160.19 705 Adjustments to reconcile proft before tax to net cash flows: Depreciation znd amortzation expenses 20217 16005 Loss / (prof) on sale of property, plant and equipment (net) 024 (@91 Share of loss of oint venture (net of t2x) 129 151 Net gain on Investments carried at fir value through profi orloss (1) (042) Employees Stock Option Expenses 225 500 Interest income (252) (208) Net foreign exchange diferences (unrezlised) (1.22) 172 Subsidies / Govemment Grants 8y (248) Income on financial guzrantees / shortfall undertaking (136) - Finance costs 1869 10193 Operating Profit before changes in operating assets and liabilties 46476 25525 Changes in operating assets and liabilities : (increase) / Decrease in trade receivables (21635 802 Increase in inventories (222.80) (4759) (Increase) { Decrease in loans 034 Decrease in ofher financial assels 774 1393 Increase in ofher assets (©92) (“.22) Increase / (Decrease) n provisions 009) 425 Increase /(Decrease) intrade peyables 30957 (254.57) Increase / (Decrease) in other financial liablties (130) 871 Increase / (Decrease) i other labiities 082 (3786) Cash generated from / (used in) operations 33209 (149) Direct tax (peic) refund (Net) 14942 (390) NET CASH FLOWS FROM / (USED IN) OPERATING ACTIVITIES 4150 (5.39) B. NET CASH USED IN INVESTING ACTIVITIES: Purchase of property, plant and equipment (ncluding capital work-in-progress, capital crediors and capitel advances) (390.18) (484.54) Proceeds from sale of property, plant and equipment 277 3269 Investments in fixed deposits with banks (1.0 (802) Proceeds from maturity of ixed deposits with banks 4n 401 Proceeds from redemption of optionally convertible debentures - 100 Investment in Mutual Funds (#000) - Investment in Joint Venture Company (26.85) (2805) Interest Received 276 103 NET CASH USED IN INVESTING ACTIVITIES (@47.83) (48138) C. CASH FLOW FROM / (USED IN) FINANCING ACTIVITIES: Proceeds from issue of eqity share capital including securites premium (Refer nole 6 & 7) 085 5119 Money received against Share Warants (Refer note 6 & 7) 20270 - Purchase of own equty sheres (through ESOP tust) - (1098) Dividend paid on equty shares (18.18) (18.10) Interest paid (1509 (9394) Principal repayment of lease fiablfies (18.83) (1186) Interest paid on lease liabiities (5:54) (449) Proceeds from long tem borowings 31468 39563 Repayment of long term borrowings (173:31) (17380) Short term borrowings (net) (283.36) 37481 NET CASH FLOWS FROM /(USED IN) FINANCING ACTIVITIES (96.22) 50846 NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS (6254 2109 Opening Cash and cash equivalents 1623 1603 Closing Cash and cash equivalents 9969 3712 NET INCREASE / (DECREASE) IN CASH AND CASH EQUIVALENTS (62.50) 2109 “Net of bils discounted on non-recourse basis 2 505.24 Crores (Seplember 30, 2025: Z 379.11 Crores) .N\AF(J‘%,‘ s CIN Nof ILJJ !sswkcnmm Phone: 033-4082 0900/ 0337122 0900, Fax: 033-4082 assplngsflzz 5558, LB info@ramkrishnaforgings.com, wm? { \\ L )] \//
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RAMKRISHNA FORGINGS LIMITED Regd. Office: 23 Circus Avenue, Kolkata - 700017 NOTES TO UNAUDITED CONSOLIDATED FINANCIAL RESULTS: 3 8 The Group manufactures “Forging components® and the management reviews the performance of the Group as a single operating segment in accordance with Ind AS-108 "Operating Segments" notified pursuant to the Companies (Indian Accounting Standards) Rules, 2015. Accordingly, no separate segment information has been furished herewith. ‘The above unaudited consolidated financial results of the Group and its joint venture relates to Ramkrishna Forgings Limited ("Holding Company” including Ramkrishna Forgings Limited Employee Welfare Trust) and its wholly owned subsidiaries, Ramkrishna Forgings LLC, Ramkrishna Forgings Mexico S.A. de C.V. and Ramkrishna Casting Solutions Limited (formerly known as “JMT Auto Limited") ("JMT" or "RKCSL") (Collectively “the Group") and Ramkrishna Titagarh Rail Wheels Limited ("Joint Venture"). The above unaudited consolidated financia resuts for the quarter and six months period ended September 30, 2026 have been reviewed by the Audit Comitiee and thereafier approved by the Board of Directors of the Holding Company at their respective meetings held on October 30, 2026. These unaucited consolidated financal results have been subjected to fimited review by statutory audiors of the Holding Company. On August 14, 2025, the Holding Company has alotted 9,75,000 warrants, with a right to the warrant holder to apply for and be alotted one equiy share of face value of % 2 each of the Holding Company at an issue price of Z 2,100.00 each aggregating to T 204.75 crores, upon receipt of 2% of the issue price (.. X 525.00 per warrant) as warrant subsciption money amounting to 2 5119 crores. During the quarter ended March 31, 2026 and June 30, 2026, the Holding Company has recelved the balance 75 % of the issue price ( €. 1,575.00 per warrant) for 40,000 warrants & 3,35,000 warants amounting to ¥ 100.80 crores and 52.76 crores respectvely. This has been considered for calculating diuted eaming per equity shares, as applicable. On January 14, 2026, the Holding Company has further allotted 34,00,000 warrants, with 2 ight o the warrant holder to apply for and be alltted one equity share of face value of € 21- each of the Holding Company at an issue price of Z 588,00 each aggregating to ¥ 199.92 crores upon receipt of 25% of the issue price as warrant subscription money amounting 10 49.98 crores. During the quarter ended September 30, 2026, the Holding Company has received the balance 75 % of the issue price for 34,00,000 warrants amounting to € 149.94 crores. This has been considered for calculating diluted eaming per equity shares, as applicable. Exceptional items includes : (a) % 10.44 crore accounted during year ended March 31, 2026, due to impact of new labour codes effective from November 21, 2025. (b) % 41.77 crore, being excess Electicty Duty in the books of Holding Company collected for the perod til March 31, 2025 under the Jharkhand Electricity Duty (Amendment) Act, 2021, by harkhand Biji Vitran Nigam Liited (JBVNLY and ‘Tata Stee! Utiities And Infrastructure Services Limited (TSUISL) that is not payable pursuant to the Horible Jharkhand High Court Order dated January 5, 2026 that has held Jharkhand Electricty Duty (Amendment) Act, 2021 ultra vires the Bihar Electrcity Duty Act 1948. The Holding Company had also accounted for excess electricityduty peid of 2 10.55 crores pertaining to FY 2025-2026 resulting in otal receivable of 2 52.32 crores from JBVNL and TSUISL. (c) ¥ 42.05 crore as provision in the books of Holding Company during the quarter and year end March 31, 2026 towards expected credit loss (ECL) on is trade receivables fom the distuptions arising from the conflct in West Asia and taifs imposed by the US Govemment having arisen due to factors beyond the Holding Company's control, is unusual in nature, and not expected {0 recur. The Board of Direclors of the Holding Company at ts mesting held on May 01, 2026, has allotied 1,64,413 equity shares of Z 2)- each at the grant price of Z 556/- per share (including the premium of Z 554~ per share) amounting to ¥ 9.14 crores to Ramkrishna Forgings Liited Employee Welfare Trust (RKFL ESOP Trust) under the RKF Limited - Employee Stock Option Scheme 2023 (‘ESOP Scheme") with the corresponding accounting being conducted in accordance with Ind AS 102 — Share-Based Payment. The financial esults of the RKFL ESOP Trust have been included in the Standalone Financial Resuts of the Holding Company in accordance with the requirements of Ind AS and the cost of outstanding treasury shares has been presented as a deduction in Equity. Addiionall, the impact of this ESOP Scheme has been facored into the calculaton of eamings per equity share, in compliance with Ind AS 33 - Eamings Per Share. 10 Pursuant to the provisions of section 197, 198 and other applicable provisions of Companies Act, 2013 read with schedule V of the said act, as amended, the Holding Company at the annual general meeting held on August 23, 2026 has taken approval from the shareholders of the Holding Company for the excess managerial remuneration paid amounting to 2 5.10 crores for the period from April 1, 2025 to March 31, 2026, by way of special resolution. 11 The Board of Directors of the Holding Company has recommended an interim dividend of ¥ 2/- per share on Equity Shares of ¥ 2/- each. By the Order of the Board \o @ s Place: Kolkata Date: October 30, 2026 Naresh Jalan (Managing Director) DIN: 00375462