Financial Highlights – Q1 FY27 (Consolidated)

  • Total Income stood at ₹766.21 crores, compared to ₹1,097.42 crores in Q1 FY26 and ₹989.22 crores in Q4 FY26.
  • EBITDA was ₹105.18 crores (EBITDA margin of 14.2%), down from ₹226.62 crores (21.3%) in Q1 FY26 and ₹179.79 crores (18.5%) in Q4 FY26.
  • Profit Before Tax (PBT) was ₹73.46 crores (PBT margin of 9.9%), down from ₹195.34 crores (18.4%) in Q1 FY26 and ₹137.41 crores (14.1%) in Q4 FY26.
  • Profit After Tax (PAT) was ₹54.06 crores (PAT margin of 7.3%), down from ₹144.96 crores (13.6%) in Q1 FY26 and ₹107.03 crores (11.0%) in Q4 FY26.
  • The consolidated profitability was supported by improved performance from subsidiaries Ravi Technoforge (RTL) and Ratnamani Finow Spooling Solutions (RFSS).

Financial Highlights – Q1 FY27 (Standalone)

  • Performance was impacted by subdued demand and lower government spending on infrastructure projects.
  • This resulted in under-absorption of fixed costs and margin pressure.
  • The company remains debt-free on a standalone basis.
  • The order book increased to over ₹2,000 crores.

Subsidiary Performance – Key Updates

Ravi Technoforge Private Limited (RTL) - 75% Stake

  • A leading manufacturer of high-precision forged bearing rings, gear blanks, and auto components.
  • 40% of its portfolio is exports to 15 countries.
  • Has a 40,000 MT per annum forging capacity.
  • Recently completed a capacity expansion at its Pipaliya unit, enhancing capacity by 20%.
  • Commissioned a 9 MW solar power plant; 50% of its energy requirement is now sourced from green energy.
  • Credit rating for long-term bank facilities upgraded from CARE A to CARE A+.

Ratnamani Finow Spooling Solutions Private Limited (RFSS) - 51% Stake

  • A specialized provider of pipe spool fabrication for nuclear & thermal power, and oil & gas.
  • Active order book exceeds ₹300 crores, targeted for execution over the next 9 months.
  • Undertaking a major infrastructure expansion to enhance capacity from 1,400 MT to 4,000 MT annually.
  • New capacity will be ready by Q3 FY27, with commercial production from Q4 FY27.
  • Bank borrowings are credit rated CRISIL AA-.

Operational and Strategic Updates

  • Completed the external coating facility at the Odisha plant.
  • Completed the HSAW manufacturing facility at the Kutch plant.
  • Exports witnessed encouraging growth during the quarter.
  • Enquiry levels across key markets continue to improve.

ESG Highlights

  • The company has been evaluated by three independent ESG rating agencies, receiving ratings in the 'Adequate' category.
  • Environment: 52 MW of captive clean energy projects commissioned; 29% of total energy came from clean sources; ~100% of key raw materials sourced sustainably; 100% manufacturing plants compliant with ZLD (Zero Liquid Discharge) mechanism.
  • Social: 34% reduction in Lost Time Injury Frequency Rate in 2024-25; over 3,00,000 people provided eye-care through the 'Drashtirath' initiative; 100% of employees and workers trained on EHS and NGRBC principles.
  • Governance: Disclosed Board of Directors and Key Managerial Personnel structure.

CSR Initiatives

  • The company was honored with the Best Healthcare & Wellness Programme National Award at the India CSR & Sustainability Awards 2025 for supporting cochlear implant surgeries.
  • Initiatives include pond deepening, biodiversity projects, educational support (150 laptops and smart classrooms for blind students), and contributing three blood apheresis machines to the Indian Red Cross Society.

Full-Year Financial Snapshot (Year ended March 31, 2026)

Consolidated (₹ in Crores)

  • Revenue from Operations: 4,493.96
  • Other Income: 121.95
  • Total Income: 4,615.91
  • Profit Before Tax: 706.34
  • Net Profit for the Year: 534.47

Standalone (₹ in Crores)

  • Revenue from Operations: 3,689.30
  • Other Income: 125.09
  • Total Income: 3,814.39
  • Profit Before Tax: 583.13
  • Net Profit for the Year: 433.96

Balance Sheet Highlights (As at March 31, 2026)

Consolidated (₹ in Crores)

  • Total Assets: 5,387.60
  • Total Equity: 4,207.72
  • Total Liabilities: 1,179.88
  • Property, Plant and Equipment: 1,589.43
  • Inventories: 1,274.86
  • Trade Receivables: 1,013.38
  • Cash and Cash Equivalents: 73.90

Standalone (₹ in Crores)

  • Total Assets: 4,632.02
  • Total Equity: 4,080.68
  • Total Liabilities: 551.34
  • Property, Plant and Equipment: 1,274.60
  • Inventories: 991.51
  • Trade Receivables: 826.01
  • Cash and Cash Equivalents: 65.54

Cash Flow (Year ended March 31, 2026)

Consolidated (₹ in Crores)

  • Cash from Operating Activity: 936.01
  • Cash from Investing Activity: (1,147.64)
  • Cash from Financing Activity: 59.22

Standalone (₹ in Crores)

  • Cash from Operating Activity: 976.12
  • Cash from Investing Activity: (1,024.89)
  • Cash from Financing Activity: (105.93)
  • Net Cash Flow: (154.70)