Ramkrishna Forgings eyes rail boost with components for India's Bullet Train Project

Kolkata, India (Metro Rail Today): Ramkrishna Forgings, a Kolkata-headquartered manufacturer of forged components, is making a strategic push into the railway sector, with ambitions to become a key player in India’s high-speed rail (bullet train) ecosystem. The company aims to raise its rail revenue share to 20% by 2030, up from the current 6%, according to Executive Director Chaitanya Jalan.

A major part of this expansion involves a new forged wheels manufacturing facility in Chennai, developed in joint venture with Titagarh Rail Systems. Once operational, the plant will produce 220,000 forged wheels annually, with around 80,000 wheels earmarked for Indian Railways and the remainder for export markets.

“When 2030 comes around, we anticipate our railway revenue on a consolidated basis to be around 20% of our business,” said Jalan. “Currently, it stands at about 6%.”

The Chennai facility is expected to reach 80% capacity utilization over the next five years, contributing nearly ₹2,000 crore to the company’s top line.

Entering the Bullet Train Component Market

Ramkrishna Forgings is sharpening its focus on the nascent high-speed rail (HSR) segment, particularly by developing undercarriages for bullet trains. The company already designs and validates LHB bogies and Vande Bharat train components, and is now working on solutions for the global high-speed rail platform.

“Our in-house team is working on the complete undercarriage for high-speed trains,” Jalan confirmed. “That is our focus and trajectory — to completely dominate this space.”

Global Shift in Strategy: Europe Over America

Facing headwinds from weakening demand in the North American market, particularly due to economic slowdown rather than tariffs, Ramkrishna Forgings is reorienting its export strategy. The focus is now on Europe’s rail and automotive sectors, which are benefitting from new free trade agreements and infrastructure investment.

In the first quarter of FY26, the company reported:

• Revenue of ₹1,010 crore (6% growth YoY)

• New orders worth ₹660 crore

  • Of which, ₹502 crore were export orders

  • ₹158 crore were domestic orders

• Export demand driven by commercial and passenger vehicle segments in Europe and America

“Europe is really doing well for us,” Jalan added. “Today, it is almost 50% of our North American revenue, and we anticipate that within a year or two, it could surpass North America.”

Industry Outlook

As India accelerates investments in its rail infrastructure, particularly the Mumbai-Ahmedabad High-Speed Rail (MAHSR) corridor, demand for domestically manufactured railway components is expected to rise significantly. Ramkrishna Forgings' proactive entry into forged wheels and bullet train parts positions it as a private sector leader aligned with India’s Atmanirbhar Bharat mission.

With a robust product pipeline, global partnerships, and a strategic focus on high-speed and metro rail undercarriages, Ramkrishna Forgings is gearing up to become a critical supplier in India’s next-generation railway infrastructure, both for domestic and global markets.