RamKrishna Forgings is preparing to enter the forged wheel market with a new manufacturing facility under development in Chennai. The plant will have an annual capacity of 228,000 forged wheels, according to a senior company executive. Managing Director Naresh Jalan told reporters that the Chennai plant is currently being set up, with an estimated project cost of Rs 2,000 crore, financed through a combination of debt and equity.
“We plan to start production with around 40,000 wheels by FY27 and ramp up to 100,000 by FY28. If things progress as expected, this new division could generate substantial revenue, becoming one of the company’s key growth drivers,” Mr Jalan said.
Earlier, RamKrishna Forgings, in partnership with Titagarh Rail Systems, secured a contract from Indian Railways to manufacture and supply forged wheels. RamKrishna Forgings holds a 51% stake in this joint venture and leads the railway supply project. Building on its long relationship with Indian Railways, the company has moved from fabrication work to full assembly of undercarriage systems, Jalan added.
RamKrishna Forgings is also entering the undercarriage segment, having received initial orders from Indian Railways for prototype supplies. Deliveries of fully assembled undercarriage units are set to begin in July, with expected revenues from this segment reaching Rs 250-300 crore within the next two years.
“These steps highlight our shift toward offering more integrated and value-added products,” Mr Jalan noted. RamKrishna Forgings specializes in manufacturing closed-die forgings made from carbon steel, alloy steel, micro-alloy steel, and stainless steel.
In FY25, the company reported revenue of Rs 4,034 crore and a profit after tax of Rs 331.55 crore. Ramkrishna Forgings Limited has expanded its footprint by acquiring a company in Mexico, now operating as Ramkrishna Forgings Mexico SA de CV. The company has leased factory space in Monterrey and started machining operations alongside storage facilities. Currently, machining is carried out on equipment provided by a North American customer, using forgings supplied by the same client. Ramkrishna Forgings has also received machining orders from another North America-based customer, with management noting strong demand and ongoing discussions for additional work in the Mexican market.
Ramkrishna Forgings specializes in manufacturing forged and CNC-machined components for sectors including automotive, railways, defense, and mining. In the automotive industry, the company produces parts such as transmissions, axles, gearboxes, pinions, spindles, bearing rings, shafts, and crown wheels. The company operates around 18 manufacturing plants across India, with a combined capacity of approximately 306,000 metric tonnes. Most of its revenue is generated from medium and heavy commercial vehicles, with Tata Motors being its largest customer.
