Ramkrishna Forgings Ltd. benchmarking: Perfomance to industry peers

Financial

	Ramkrishna Forgings	Kirloskar Ferrous	Balu Forge Industrie
Operational Metrics
Auto Ancillary Sector
Capacity Utilization - Forging	59.0 %	n/a	n/a
Metals
Quarterly Sales Volume - Casting & Forging	44171.0 Tonnes	33340.0 Tonnes	n/a
Manufacturing Capacity - Forging	70350.0 MTPA	n/a	360000.0 MTPA
Steel Sector
Capacity Utilization - Ring Rolling Line	130.0 %	n/a	n/a
Capacity Utilization - Press Facility	65.0 %	n/a	n/a
EBITDA/Tonne - Casting & Forging	47865.6 Rs/ Tonne	n/a	n/a
Unclassified
R&D as a % of Total Sales	0.28 %	n/a	n/a
Financials
5 yr Average ROE	13.17 %	13.0 %	16.92 %
5yr average Equity Multiplier	2.68	2.12	1.67
5yr Average Asset Turnover Ratio	0.67	0.99	0.85
5yr Avg Net Profit Margin	7.36 %	6.35 %	13.29 %
Price to Book	3.44	2.64	7.33
P/E	20.87	28.42	34.04
5yr Avg Cash Conversion Cycle	98.56 Days	62.13 Days	84.76 Days
Inventory Days	98.91 Days	69.47 Days	42.04 Days
Days Receivable	82.57 Days	53.95 Days	107.84 Days
Days Payable	91.85 Days	47.67 Days	90.75 Days
5yr Average Interest Coverage Ratio	2.99	8.77	10.05
5yr Avg ROCE	13.84 %	16.57 %	24.23 %
5yr Avg Operating Profit Margin	19.32 %	13.93 %	16.95 %
5 yr average Debt to Equity	0.99	0.44	0.2
5yr CAGR Net Profit	82.2 %	-3.26 %	92.96 %
5yr Average Return on Assets	5.12 %	6.05 %	11.0 %
Shareholdings
Promoter Holding	43.13 %	50.9 %	54.85 %
Share Pledged by Promoters	5.76 %	0.0	0.0
Change in Promoter Holding (3 Yrs)	-3.1 %	-8.05 %	-10.56 %
Change in Mutual Fund Holding (3 Yrs)	-3.28 %	1.4 %	0.13 %

	Ramkrishna Forgings	Kirloskar Ferrous	Balu Forge Industrie
Product Wise Break-Up	Product Wise Break-Up Forgings 100.0 Tubes 0 Castings 0 Pig Iron 0 Steel forging (Cranshaft) 0	Product Wise Break-Up Tubes 35.32 Steel forging (Cranshaft) 0 Forgings 0 Casting 23.74 Pig Iron 29.9 Others 11.04	Product Wise Break-Up Tubes 0 Forging 100.0 Forgings 0 Castings 0 Pig Iron 0
Location Wise Break-Up	Location Wise Break-Up Asia 58.0 North America 30.0 Europe 12.0 India 0 Rest of the World 0 International 0 Domestic 0	Location Wise Break-Up International 0 Asia 0 Europe 0 Rest of the World 0 India 97.96 Domestic 0 North America 0 Others 2.04	Location Wise Break-Up International 100.0 Asia 0 Europe 0 Rest of the World 0 India 0 Domestic 0 North America 0
Operating Profit Break-Up	Operating Profit Break-Up Forging 100.0	-	-
OEM vs Aftermarket	OEM vs Aftermarket OEM 89.0 After market 11.0	-	-
Customer Segment	Customer Segment Automobile 78.2 Railway Products 4.7 Mining & Others 4.5 Oil & Gas 0.6 Exports Incentive 0 Exports 0 Industrial Machinery 0 Heavy Engineering 0 Power Generation 0 Defence 0 Agriculture 0 Heavy Trucks 0 Others 12.0	-	Customer Segment Heavy Engineering 10.0 Agriculture 55.0 Automobile 0 Mining & Others 0 Industrial Machinery 5.0 Exports Incentive 0 Exports 0 Heavy Trucks 5.0 Power Generation 15.0 Railway Products 0 Oil & Gas 5.0 Defence 5.0
Asset Break-Up	Asset Break-Up India 100.0	-	-