Ramkrishna Forgings plans to enter the forged wheel manufacturing segment with a new plant in Chennai, according to a report by PTI. The company is targeting an eventual annual production capacity of 228,000 units. The total investment in the plant is estimated at INR 20 billion and will be financed through a mix of debt and equity.
Initial output is expected to begin in FY27 with around 40,000 wheels, and the company aims to ramp up production to 100,000 wheels by FY28, according to Managing Director Naresh Jalan. The project represents a new product line for Ramkrishna Forgings, which currently manufactures forged components for the automotive, railway, and industrial sectors. The company supplies products to both domestic and international markets.
The company, in partnership with Titagarh Rail Systems, had earlier received a Letter of Award (LOA) for manufacturing and supplying forged wheels to Indian Railways. The Chennai plant is being established to fulfill this railway contract. Ramkrishna Forgings holds a 51 percent stake in the joint venture and is the lead partner in the project.
Founded in 1981, Ramkrishna Forgings serves the automotive, railways, mining, construction, oil & gas, power, and general engineering sectors. Its facilities include a range of hammers, upsetters, press lines, and ring rolling systems, enabling production of complex components ranging from 0.5 kg to 200 kg.
As of 2025, the company has an installed capacity of 243,400 metric tonnes per annum (MTPA) for hot and warm forgings and 25,000 MTPA for cold forgings. Recent expansions have added advanced upsetter machines to meet growing demand.
The company reported revenues of INR 39.84 billion in FY2024, up from INR 12.23 billion in FY2020, and posted a 14.6 percent year-on-year increase in net profit for the quarter ending December 2024. In 2024, it exited its investment in Globe All India Services to focus on core operations. It currently employs over 8,000 people and holds certifications for all major quality systems in the forging industry.