NSE: RKFORGE· AutomobileCyclical · Aug 26Small cap
Ramkrishna Forgings
Cyclical: post write-off recovery
- Last close
- ₹714.65
- 29 Sept 2026 · reference
- 1D · 1M
- +1.6% · −4.9%
- price-only
- Weight
- 2.1%
- 31 Jul 2026 · Aug rank 19
- Thesis review
- 8 Sep 2026
- Why We Own, p57
Where the price sits
52-week range, house target and street targets
52w low ₹46352w high ₹755
- Reference close₹715
Range from reference closes; street targets from the PDFs on file (Research & documents). Internal target is never shown to prospects.
Investment case and valuation
Approved model, 8 Sep 2026 review
₹706
Price (2026-09-07)
181.0x / 37.8x
FY27E / FY28E P/E (Buoyant sheet)
2.4%
FY27E ROE (Buoyant sheet)
112.0x
Trailing P/E
3.9x
Price / book
n.a.
EPS CAGR FY26–28E
TTM PE 112x is optically inflated by the FY26 earnings trough (PAT -78%); 5-yr stock price CAGR not captured; P/B 3.9x vs ROE of 2.5% (3-yr avg 9.75%) - the stock is priced on FY28 recovery (Buoyant 37.8x FY28e). EV/EBITDA n.m.; dividend yield 0.1%.
- Model date
- 8 Sep 2026 (prices 7–8 Sep 2026)
- Horizon
- 12 months (bank pages: Sep-2027 roll-forward)
- Audience
- Internal — the book's guardrail: do not quote a target to a client; quote the thesis and the risk
- Reviewer · version
- Investment Committee framework · v1 (book)
Current vs history
Trailing multiples, FY-end
| Ratio | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E | 122.0x | 24.1x | 14.2x | 51.1x | 80.8x | 12.7x | 18.5x | 36.6x | 33.7x | 118.0x |
| Price to Book | 3.0x | 3.0x | 2.0x | 0.6x | 1.9x | 2.4x | 3.6x | 4.7x | 4.6x | 2.7x |
Tijori FY-end multiples on reported earnings/book; compatible definitions across years, but not the same basis as Buoyant's forward P/E on internal EPS.
UnavailableScenario lab disabled. Needs an approved forward EPS and forward P/E for Ramkrishna Forgings plus a reference price. Missing inputs are not substituted.