Chennai Chimera & Capital Commitment Catalyses CreationRamakrishna Forgings is investing ₹2,000 crore to build a state‑of‑the‑art forged wheel plant in Chennai. The facility, financed through a blend of equity & debt, signifies a bold move into high‑precision wheel manufacturing. Managing Director Naresh Jalan indicates that this vertical could become one of the firm’s major growth engines.

Phased Production & Performance Pioneering PicksThe company aims to commence operations with an output of 40,000 wheels by FY27, scaling to 100,000 wheels in FY28. This gradual ramp‑up allows production systems to stabilise and ensures quality control ahead of full‑capacity operations.

Railway Rendezvous & Requisite Resource Reach-backThis initiative builds on a joint venture with Titagarh Rail Systems, which has already secured a Letter of Award for supplying forged wheels to Indian Railways. Ramkrishna holds a 51 % stake in this collaboration, assuming the lead role.

Undercarriage Undertaking & Upgraded Utility UnveiledBeyond wheels, the venture extends to the assembly of fully integrated undercarriage systems. India’s railways have commissioned prototypes, and full‑assembly deliveries are slated to begin in July. Revenue from this segment is projected between ₹250 crore and ₹300 crore over the next two years.

Domestic Displacement & Decarbonisation Drive DisclosedThe project aligns with the national effort to reduce dependency on China and bolster domestic capabilities. Indian Railways currently imports a sizable number of wheels, and this venture seeks to shift sourcing towards local manufacturers to support self‑reliance.

Capacity Enhancement & Competitive Capability ClimbWith an eventual capacity of 228,000 wheels per year, the plant positions Ramkrishna Forgings as a significant player in India’s rail manufacturing space. The company, known for its closed‑die forgings of carbon and alloy steels, recorded FY25 revenues of ₹4,034 crore and PAT of ₹331.55 crore.

Global Growth & Governance Gains Garnered GloballyRamakrishna Forgings has also expanded overseas, establishing a machining and storage facility in Monterrey, Mexico. This global footprint complements its Make‑in‑India efforts and enhances its credibility in international markets.

Strategic Stockpile & Supply‑Chain Stability StrengthenedAs India’s rail network gears up for growth, driven by electrification and the Mission Raftaar policy, the demand for high‑quality wheels and undercarriage systems is set to rise. This plant is poised to serve both domestic and export demands, ensuring supply chain security.

Key Takeaways:

• Ramakrishna Forgings is building a ₹2,000 crore Chennai plant to produce up to 228,000 forged steel wheels annually.

• Initial production will reach 40,000 wheels by FY27, scaling to 100,000 by FY28, plus undercarriage assembly generating ₹250–300 crore in two years.

• The JV with Titagarh Rail Systems will support Indian Railways’ aim to reduce wheel imports and strengthen domestic manufacturing.