Analysts/Institutional Investor Meet/Con. Call Updates

. RAMKRISHNA FORGINGS LIMITED Date: 6 November, 2026 To To The Listing Department The Listing Department BSE Limited National Stock Exchange of India Limited PJ Towers Dalal Street “Exchange Plaza” C-1, Block G Bandra- Kurla Mumbai - 400 001 Complex, Bandra (E) Mumbai- 400051 BSE SCRIP CODE: 532527 NSE SYMBOL: RKFORGE Dear Sir / Madam, Sub.: Di nder Regulati istin, ligation: i ure Requirements) Regulations, 2015 - Earnings Call Transcript - Q2 & H1 FY27 This is further to our intimation dated 27 October, 2026, with respect to Earnings Conference call with Analysts/Investors on the Un-audited Financial Results of the Company for the quarter and half year ended 30 September, 2026. Pursuant to Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the Earnings Conference Call Transcript held with Analysts/Investors on Friday, 30 October, 2026, at 18:00 Hours (LS.T). Copy of the same is being also made available on the website of the Company at www.ramkrishnaforgings.com. We request you to kindly take the abovementioned information on record and oblige. This is for your kind information and records. Thanking you. Yours truly, For Ramkrishna Forgings Limited Rajesh Mundhra Company Secretary & Compliance ACS 12991 Encl.: As above REGISTERED & CORPORATE OFFICE 23 CIRCUS AVENUE, KOLKATA 700017, WEST BENGAL, INDIA PHONE : (+91 33)4082 0900 / 7122 0900, FAX : (+91 33)4082 0998 / 7122 0998, EMAIL : info@ramkrishnaforgings.com, WEB : www.ramkrishnaforgings.com CIN NO. :L74210WB1981PLC034281 Ramkrishna Forgings Limited Q2 & H1 FY27 Earnings Conference Call October 30, 2026 MANAGEMENT: MR. NARESH JALAN – MANAGING DIRECTOR MR. CHAITANYA JALAN – JOINT MANAGING DIRECTOR MR. LALIT KHETAN – WHOLE-TIME DIRECTOR AND CHIEF FINANCIAL OFFICER MR. MILESH GANDHI – WHOLE-TIME DIRECTOR MR. RAJESH MUNDHRA – VICE PRESIDENT-FINANCE AND COMPANY SECRETARY MODERATOR: MR. DINESH KUMAR – 360 ONE CAPITAL MARKET LIMITED External Participants:  Vinil Shah – Dalal & Broacha  Aditya Kumar – Old Bridge Mutual Fund  Abhishek Jain – KRIIS PMS  Pranav Jain – Ageless Capital Finance  Utkarsh Somaiya – Eiko Quantum Solutions  Pradyumna Choudhary – Bowhead Investment Advisors  Mayank Agarwal – Scientific Investing  Sahil Sanghvi – Monarch Networth Capital  Akshay Shetty – Individual Investor  Abhishek Kamdar – Value Plus Advisors  Chirag Shah – Dalal & Broacha  Khush Nahar – Electrum PMS  Venkat – Individual Investor.  Bipul Kumar – Narula Finance Services  Tanmoy Roy – Individual Investor  Karan Gupta – CAVI Capital Page 1 of 25 Moderator: Ladies and gentlemen, good day, and welcome to Ramkrishna Forgings Q2 FY27 Earnings Conference Call hosted by 360 ONE Capital Markets Private Limited. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touch-tone phone. Please note that this conference is being recorded. I would now hand the conference over to Mr. Dinesh Kumar from 360 ONE Capital Markets Private Limited. Thank you, and over to you, sir. Dinesh Kumar: Thank you. Welcome to all the participants on behalf of 360 ONE Capital Markets for Ramkrishna Forgings Q2 FY27 Post Results Conference Call. From the management, we have with us today, Mr. Naresh Jalan, Managing Director; Mr. Chaitanya Jalan, Joint Managing Director; Mr. Lalit Khetan, Whole-Time Director and CFO; Mr. Milesh Gandhi, Whole-Time Director; and Mr. Rajesh Mundhra, Vice President, Finance and Company Secretary. I will now hand over the call to the management for the opening remarks to be followed by question-and-answer session. Over to you, sir. Lalit Khetan: Thank you, Dinesh. Good evening, everyone, and thank you for joining us today to discuss the Q2 and H1 FY27 Earnings of Ramkrishna Forgings Limited. I trust all of you have had the opportunity to go through the earnings presentation and financial results shared earlier today. Let me begin with a brief overview of the operating environment before discussing our performance for the quarter. The global economic environment continues to remain challenging with geopolitical tensions in Middle East, threats of new tariffs and supply chain dynamics affecting economic activity and business sentiment across markets. Q2 & H1 FY27 Earnings Conference Call Transcript 2 Currency movements, rising input costs as well as a sharp rise in shipping costs also remain key areas to monitor. Despite these challenges, we are seeing encouraging business opportunities across markets and end use applications supported by customer requirements for reliable and diversified supply chains. In contrast to the uncertain global environment, the domestic economy continues to demonstrate strong growth momentum. GST collections were healthy, reaching approximately Rs. 6.15 lakh crores during Q2. Industrial activity has also strengthened, IIP growth of 7.4% in July and 8% in August. The automotive sector has witnessed particularly strong demand with commercial vehicle and passenger vehicle sales growing by 28.7% and 30.7%, respectively, during Q2 FY27. We have witnessed continued momentum in our performance, both in top line and profitability, supported by domestic demand, improving international business and our focus on operational efficiency. Our efforts to expand our product portfolio, enter new segments and increase capacity utilization are contributing to more balanced and sustainable growth even in the current backdrop of a volatile and unpredictable global macroeconomic landscape. An important development over the past few years has been the significant expansion of our manufacturing capabilities. Having completed a substantial part of our planned investment, our focus has now shifted towards improving utilization, increasing productivity and generating better returns from these assets. Our investments have strengthened our ability to address a wider range of customer requirements and support our expansion into new products and applications. Let me now share the key financial highlights for the quarter. For Q2 FY27, consolidated revenue from operations stood at Rs.1,405 crores, representing growth of 54.9% year-on-year compared with Rs. 908 crores in Q2 FY26. On a sequential basis, revenues were higher by 15.5% compared with Rs. 1,217 crores in Q1 FY27. Q2 & H1 FY27 Earnings Conference Call Transcript 3 Our consolidated EBITDA, excluding other income, stood at Rs. 256 crores compared with Rs. 123 crores in corresponding quarter last year and Rs. 218 crores in Q1 FY27. The EBITDA margin improved to 18.23% for the quarter compared with 13.5% in Q2 FY26 and 17.96% in the previous quarter. The improvement in operating profitability reflects operating leverage through improved capacity utilization, improvement in product mix and operating efficiencies. Profit before tax for the quarter stood at Rs. 95 crores compared with a loss of Rs. 10 crores in Q2 last year and profit of Rs. 65 crores in Q1 FY27. Profit after tax stood at Rs. 71 crores. This was higher by 47% on Q-on-Q basis. Debt during H1 FY27 is reduced by Rs. 126 crores, and we maintain our guidance of reduction in total debt by Rs. 500 crores for FY27. Looking ahead, we remain positive about the business outlook, our order pipeline remains healthy, and our increasingly diversified product portfolio provides opportunities across both domestic and international markets. We believe that high utilization of our existing capacity and improved product mix and continued operating discipline will support growth and profitability in the coming quarters. With that, I would now like to hand over the proceeding to Mr. Milesh Gandhi, our Whole-Time Director, who will take you through the order wins and key business developm [Showing first 8,000 characters — download PDF for full document]