Ramkrishna Forgings plans to enter the forged wheel market and is building a manufacturing facility in Chennai with an annual capacity of 228,000 wheels. Managing Director Naresh Jalan told PTI that the project will cost about Rs 20 billion, funded through a mix of debt and equity.

The company expects to begin production with roughly 40,000 wheels in FY27 and ramp up to 100,000 wheels in FY28. Jalan said this single vertical could become one of the firm’s most powerful growth engines, generating multi billion rupee revenues.

A Ramkrishna Forgings–Titagarh Rail Systems consortium has already secured a Letter of Award to make and supply forged wheels for Indian Railways. Ramkrishna Forgings holds a 51 per cent stake in the joint venture and is the lead partner.

The group is also moving into fully assembled undercarriage systems. It has received initial orders from Indian Railways for prototype units, with the first deliveries scheduled for July. Turnover from this segment is projected at Rs 2.5 billion–Rs 3 billion over the next two years.

These ventures mark a shift towards more integrated, value added offerings. Ramkrishna Forgings, a specialist in closed die forgings of carbon, alloy and stainless steels, reported FY25 revenue of about Rs 40.34 billion and profit after tax of roughly Rs 3.32 billion.

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