Ramkrishna Forgings is preparing to commence commercial operations at a new Chennai facility from June, marking the company's entry into the forged wheel manufacturing sector. The project has been developed after the company received a Letter of Award from the Indian Railways in 2023 and is intended to supply both railway and industrial markets. The capital expenditure for the plant is estimated at Rs 20 billion (bn). The Chennai unit has been established as a joint venture with a private partner in which Ramkrishna Forgings holds a majority stake, placing the company in a leadership position within the segment. The facility is expected to be Asia's second largest wheel manufacturing plant and has an annual production capacity of 228,000 forged wheels. The project was executed in two phases, with phase one costing Rs 18.1 billion (bn) and phase two at Rs 3.7 billion (bn). Funding for the development was arranged through a combination of debt and equity to balance financial metrics and support scale-up. In its consolidated results for FY26 the Kolkata-based company reported a net profit of Rs 720 million (mn) and revenue of Rs 42.51 billion (bn), reflecting ongoing commercial traction. During the fourth quarter the company secured new orders totalling Rs 5.94 billion (bn), with 56 per cent of those orders from the automotive segment and the remaining 44 per cent from non-automotive customers. As of 31 March the total orderbook stood at Rs 96.35 billion (bn), scheduled for execution over four years. The mix of orders is intended to provide a degree of revenue visibility as the new manufacturing capacity comes online. Management indicated that FY27 is expected to be a strong year for the business, driven by the healthy order backlog and improving demand conditions. The company believes that better operating leverage, continued diversification and disciplined capital allocation will support sustained long-term value creation for stakeholders. The commencement of commercial production in Chennai will extend Ramkrishna Forgings' product offering into the forged wheel market and underpin its growth strategy.