The forged railway wheels plant in Tamil Nadu, set up through a joint venture between Ramkrishna Forgings and Titagarh Rail Systems, is expected to commence bulk production this month and likely to attain full capacity utilisation by financial year 2029-30.
Ramkrishna Forgings holds a 51 per cent stake in the joint venture. The plant near Chennai will be Asia’s second largest manufacturing facility to produce forged wheels.
“The total capacity now is 110,000 wheels and at full scale it will be 220,000 wheels per year. It is a plant dedicated to make railway wheels and wheelsets. The plant will start bulk production this month,” Ramkrishna Forgings joint managing director Chaitanya Jalan told businessline.
The committed capital expenditure into this plant is ₹2000 crore, which is being funded through a mix of debt and equity.
“We have won an order from the Indian Railways for 25 years. The off take agreement is for 80,000-100,000 wheels per annum. So about 50 per cent of the capacity is already sold for the next 25 years. We are confident that the rest of the order book we will be able to fill up over the next 1-2 years time for various customers. So right now we have only augmented capacity close to 110,000 wheels, and the balance capex we will start doing in the next six months,” Jalan said, adding by FY30, the plant would attain full capacity utilization.
At the end of the current financial year, around 25-30 per cent of the total revenue from this plant is expected to come from exports, mainly to North America, Europe and Africa. “We will see full revenue coming in from the plant in Q4FY27,” Jalan said.
Ramkrishna Forgings operates 20 manufacturing facilities across India and Mexico, with an installed capacity of 3,95,800 MT as of September 30, 2026, spanning ring rolling, forging, press, and casting operations.
On the company’s wholly-owned subsidiary in Mexico, Jalan said it is expected to generate around $30-40 million business in the next five years. “Sales from the Mexican plant started coming in from January onwards. It is catering to North America only. It is on track to do about $4-5 million of business this year. We wanted to get closer to our customers in North America and also to cater to USMCA (United States-Mexico-Canada Agreement),” he said.
Ramkrishna Forgings saw significant growth in exports to the North American market in the second quarter this fiscal, as it did not face much headwinds because of US tariff rates.
“For us, we are serving almost all of North America, South America and Europe. We have seen significant growth in the North American market specifically with a very low base last year. It is doing extremely well for us. We are very optimistic with the way things are in the North American market for the next at least one-and-half years to two years. We are seeing good tailwinds now in this market, where we are winning significant business quarter-on-quarter,” the Joint MD added.
The company reported consolidated revenues of ₹1405 crore in the second quarter this fiscal, higher by 55 per cent on year-on-year.
Published on November 9, 2026
