At the recently concluded IAA Transportation 2024, Ramkrishna Forgings Ltd. (RKFL) showcased its cutting-edge products and solutions, highlighting its growing global presence and commitment to innovation. The event was represented by RKFL’s Leadership Team Members Mr. Chaitanya Jalan & Mr. Milesh Gandhi both are Whole Time Directors of the company. Speaking at the event, Chaitanya Jalan, shared insights into the company’s trajectory post-pandemic, its ambitious goals for the future, and the strides it has made in sustainability and automation.
Driving Innovation and Expanding Horizons
RKFL has taken significant steps in recent years to enhance its product portfolio and manufacturing capabilities. “This year, we proudly launched our very own trailer axle for the Indian trailer market, a product we hope will soon find its place on the global platform,” said Chaitanya. The company has also focused on automating its plants, implementing Industry 4.0 solutions, and reducing manual intervention in manufacturing processes.
The IAA Transportation event provided RKFL with a unique opportunity to connect with global OEMs and showcase its products to a diverse audience. “IAA is an amazing platform that allows us to bring together global OEMs and showcase all our product lines in one place,” Chaitanya emphasized. He noted that the event enabled the company to highlight its innovations, such as advanced inspection facilities and environmental initiatives.
A Strong Export Focus
With a robust export strategy, RKFL has positioned itself as a trusted supplier to global OEMs. “Exports account for a significant portion of our revenue—approximately 45% last year, and we aim to exceed 50% this year,” Chaitanya revealed. The company’s major export markets include North America and Europe, with the latter experiencing notable growth. RKFL’s commitment to quality and reliability has cemented its reputation as a preferred partner worldwide.
Post-pandemic, Chaitanya observed a shift in global perception towards Indian manufacturers. “There’s now a belief that Indian companies are reliable and trustworthy,” he said. RKFL has leveraged this trust by investing in state-of-the-art facilities to ensure that its products meet the highest quality standards.
Ambitious Goals for the Future
RKFL has charted an ambitious roadmap for growth, targeting a turnover of ₹10,000 crore and an EBITDA of ₹2,500 crore by 2030. “We aspire to process 1 million tons of metal annually,” Chaitanya shared. With current processing levels at 400,000 tons, the company is on track to reach 750,000 tons within the next two to three years, thanks to ongoing projects and potential acquisitions.
The company also aims to become the largest forging manufacturer in India. “We are currently the second-largest forging company in India and are working tremendously hard to claim the top spot,” Chaitanya stated. This growth will be supported by significant capital expenditure and the adoption of cutting-edge technologies that minimize environmental impact.
Commitment to Sustainability
Sustainability is a cornerstone of RKFL’s operations. The company is taking bold steps to achieve carbon neutrality by 2030. “We have commissioned 25 MW of solar rooftop projects and plan to source an additional 60 MW of renewable energy through captive power within the next two years,” Chaitanya explained. RKFL is also exploring green steel initiatives and water recycling to further reduce its environmental footprint.
Chaitanya highlighted the company’s efforts to quantify its carbon footprint: “Soon, every product we manufacture will include a label indicating its carbon footprint, showcasing our commitment to transparency and environmental responsibility.”
Community and Social Responsibility
Beyond its environmental initiatives, RKFL is deeply committed to its community. As one of the largest employers in its region, second only to the Tatas, the company has a strong CSR footprint. “We have always supported schools and communities around us, and this remains a focus for us,” Chaitanya said.
Looking Ahead
As RKFL continues to grow, its focus remains on innovation, sustainability, and expanding its global footprint. Reflecting on the company’s journey, Chaitanya concluded, “We’ve come a long way and have ambitious plans for the future. Events like IAA Transportation give us the perfect opportunity to showcase our progress and engage with customers and partners.”
