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Ramkrishna Forgings Ltd

RKFORGE

NSE

₹685.00-0.93%19 Oct 2026

Reports

Castings Forgings and Fasteners

Ramkrishna Forgings Ltd

RKFORGE

NSE

₹685.00

-0.93%

19 Oct 2026

SOICxStockScans Reports

Ask AI

Castings Forgings and Fasteners

Indices

Business Overview: What the company does, in plain English.Growth Catalysts: The forward growth drivers and triggers.Guidance Report: Management guidance vs outcomes.Forensic Report: Accounting quality and red flags.Deep Dive Report: In-depth business analysis.

Ramkrishna Forgings Ltd is fundamentally a metal-shaping business: it takes steel and other alloys and, through immense heat and pressure, hammers and presses them into the precision components that keep trucks, trains, and heavy machinery moving. Incorporated in 1981 and rooted in Jamshedpur, the company has spent over four decades evolving from a single-product rear-axle supplier into a one-stop shop that can deliver a part in its raw forged state, fully machined, or as a complete sub-assembly. The recurring logic behind this expansion is a deliberate push to “create deeper into customers by increasing content per vehicle” while systematically diversifying away from a historic dependence on Indian automakers and into new geographies and non-auto sectors like railways and energy.

Business segments

Three engines at different stages - a forging cash cow that is the company’s backbone, a casting platform built through acquisition, and a rail-wheel bet under construction - each extending the company’s reach into a new metal-forming technology or end market.

1. Forged and machined components: the core engine that shapes the company

This business makes the mission-critical metal parts for trucks, trains, and off-road equipment, selling to the world’s largest vehicle makers on multi-year contracts with built-in raw-material cost pass-through.

One-stop shop from forge to finish - the company runs hot, warm, cold, and aluminium forging lines alongside in-house machining, heat treatment, and painting, so it can supply a part in any condition a customer wants, from a rough forging to a fully finished assembly. This end-to-end control improves quality and cuts lead times, which is why it has earned preferred-supplier status with global OEMs.
Paid per part, with inflation protection - revenue comes from selling components, and the company can pass on raw-material price increases to most customers with a lag of up to three months through contractual mechanisms. That means the business is shielded from sudden steel-cost spikes that would otherwise squeeze margins.
Deep wallet share with sticky customers - relationships with truck makers like Volvo, Daimler, Tata Motors, and Ashok Leyland, and axle giants like Dana and Meritor, routinely span more than a decade. The company keeps growing by adding new products to the same customer’s basket, moving from rear-axle parts to front-axle components and now targeting the entire vehicle platform.
A 19-factory footprint anchored in raw-material country - 16 of the company’s 19 plants sit in Jamshedpur, close to domestic steel sources, which helps control freight costs on the 80% of raw materials it buys locally. Total installed capacity across forging, ring rolling, press, and casting lines reached 395,800 metric tonnes as of March 2026, with standalone forging volumes of 182,746 tonnes in FY26.
Diversified away from a single market - the auto share of standalone revenue has dropped from roughly 91% in FY17 to about 78% in the first nine months of FY25, while railways, mining, and energy now account for 44% of new orders by value. The company also runs several electric-vehicle programmes in Europe and North America, and won its first EV contract in 2021.

2. Casting solutions: a bolt-on metal-forming platform built through acquisition

This segment pours molten metal into moulds to make precision cast parts for trucks and trains, consolidating three acquired companies into a single entity to serve the same customers as the forging business.

A complementary product basket - the casting operations produce machined parts weighing from 1 kg to 45 kg, including brake components, gear-box housings, axle parts, and suspension pieces for commercial vehicles and railways. Because these parts go to the same OEMs that buy forgings, the company can offer a fuller package to existing customers.
Adding a direct line to the mothership - in March 2026, Ramkrishna Forgings itself started a horizontal casting line with 28,800 tonnes per annum of capacity, entering automotive casting directly so it can bundle cast and forged products under one roof. The subsidiary’s casting volumes in FY26 were 16,602 tonnes.

3. Railway and rail-wheel platform: a bet on India’s track modernisation

This engine supplies safety-critical undercarriage parts to Indian Railways today, while building a dedicated forged-wheel factory in Chennai that is expected to start production by mid-2027.

Safety-item supplier with a growing share - the railway business already contributes 7.5% of revenue, up from 4.6% a year earlier, by making bogie frames, bolsters, and fully assembled bogies for passenger coaches and the Vande Bharat train set. These are certified safety components, which creates a high barrier for competitors to displace an incumbent.
A landmark Vande Bharat order - the company won a ₹270 crore contract to supply bogies for the Vande Bharat trainset to the BHEL-TRSL consortium, proving it can deliver complete assemblies, not just individual forgings.
The wheel factory is a joint venture - Ramkrishna Titagarh Rail Wheels Limited, a 51:49 partnership with Titagarh Rail Systems, is building a plant in Chennai with an annual capacity of 228,000 forged wheels at a project cost of ₹2,000 crore. The company has infused ₹480 crore of equity so far and provided a shortfall undertaking for its share of a ₹1,527 crore bank loan, with production anticipated by Q1 FY27.

Group structure and partners

The company is a publicly listed flagship with a 43% promoter holding, operating through subsidiaries in casting, North America, and a rail-wheel joint venture, after recently cleaning house by merging in an acquisition and selling a non-core hospitality unit.

A consolidated casting subsidiary - Ramkrishna Casting Solutions Limited was formed by merging Multitech Auto and Mal Metalliks into the former JMT Auto, effective March 25, 2026, with an appointed date of January 1, 2024, putting all casting operations into one legal entity.
A clean-up of the portfolio - ACIL Limited, a precision auto-component maker bought through a corporate insolvency process in 2024, was amalgamated directly into Ramkrishna Forgings in May 2025, adding a Manesar plant. The non-core travel-services subsidiary Globe All India Services was sold to Yatra Online for ₹128 crore in cash in September 2024.
Captive solar power - the company invested in an SPV building a solar plant in Jamshedpur that will generate about 45.69 million units per year, supporting its goal of 100% renewable energy by 2033.

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Price

Charts

Documents

Edit Ratios

Mkt Cap

Market Capitalization

₹12,606Cr

Close Price

₹679.30

Industry

Castings Forgings and Fasteners

Price To Earnings

115.33

Price To Sales

2.84

Revenue

₹4,440Cr

Rev Gr TTM

Revenue Growth TTM

8.55%

PAT Gr TTM

PAT Growth TTM

-71.28%

Consolidated

Standalone

Numbers

Percentage

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	899	996	974	959	1,054	1,074	947	1,015	908	1,099	1,217	1,217
Growth YoY Revenue Growth YoY%	9.0	28.1	9.2	7.5	17.2	7.8	-2.8	5.8	-13.9	2.3	28.5	19.8
Expenses ExpensesCr	698	776	786	790	888	947	849	867	785	935	1,009	998
Operating Profit Operating ProfitCr	200	220	188	169	166	126	99	149	123	163	208	218
OPM OPM%	22.3	22.1	19.3	17.6	15.7	11.8	10.4	14.6	13.5	14.9	17.1	18.0
Other Income Other IncomeCr	4	1	18	8	2	4	11	-3	1	-10	-4	3
Interest Expense Interest ExpenseCr	38	39	34	37	39	42	49	49	53	51	57	57
Depreciation DepreciationCr	61	68	72	62	60	64	85	80	80	84	88	99
PBT PBTCr	106	114	99	79	69	24	-24	17	-10	18	59	65
Tax TaxCr	27	30	34	26	11	3	-223	6	-1	5	3	18
PAT PATCr	82	87	66	55	140	21	200	12	-10	14	56	47
Growth YoY PAT Growth YoY%	22.3	42.3	-3.4	-30.3	69.8	-75.9	202.3	-78.5	-106.8	-35.1	-72.0	297.6
NPM NPM%	9.2	8.7	6.8	5.7	13.3	1.9	21.1	1.2	-1.1	1.2	4.6	3.9
EPS EPS₹	5.1	5.0	3.7	3.0	7.7	1.2	11.0	0.7	-0.5	0.8	3.1	2.6

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	899	996	974	959	1,054	1,074	947	1,015	908	1,099	1,217	1,217
Growth YoY Revenue Growth YoY%	9.0	28.1	9.2	7.5	17.2	7.8	-2.8	5.8	-13.9	2.3	28.5	19.8
Expenses ExpensesCr	698	776	786	790	888	947	849	867	785	935	1,009	998
Operating Profit Operating ProfitCr	200	220	188	169	166	126	99	149	123	163	208	218
OPM OPM%	22.3	22.1	19.3	17.6	15.7	11.8	10.4	14.6	13.5	14.9	17.1	18.0
Other Income Other IncomeCr	4	1	18	8	2	4	11	-3	1	-10	-4	3
Interest Expense Interest ExpenseCr	38	39	34	37	39	42	49	49	53	51	57	57
Depreciation DepreciationCr	61	68	72	62	60	64	85	80	80	84	88	99
PBT PBTCr	106	114	99	79	69	24	-24	17	-10	18	59	65
Tax TaxCr	27	30	34	26	11	3	-223	6	-1	5	3	18
PAT PATCr	82	87	66	55	140	21	200	12	-10	14	56	47
Growth YoY PAT Growth YoY%	22.3	42.3	-3.4	-30.3	69.8	-75.9	202.3	-78.5	-106.8	-35.1	-72.0	297.6
NPM NPM%	9.2	8.7	6.8	5.7	13.3	1.9	21.1	1.2	-1.1	1.2	4.6	3.9
EPS EPS₹	5.1	5.0	3.7	3.0	7.7	1.2	11.0	0.7	-0.5	0.8	3.1	2.6

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	911	921	1,491	1,931	1,216	1,289	2,320	3,193	3,705	4,034	4,238	4,440
Growth Revenue Growth%	21.1	1.1	61.9	29.5	-37.0	6.0	80.0	37.6	16.0	8.9	5.1	8.6
Expenses ExpensesCr	730	759	1,203	1,547	1,009	1,066	1,803	2,501	2,932	3,475	3,595	3,727
Operating Profit Operating ProfitCr	180	162	288	384	207	223	517	692	773	560	643	713
OPM OPM%	19.8	17.6	19.3	19.9	17.0	17.3	22.3	21.7	20.9	13.9	15.2	16.1
Other Income Other IncomeCr	2	7	4	3	7	6	1	4	27	25	-15	-10
Interest Expense Interest ExpenseCr	54	77	73	82	79	80	96	120	146	166	210	219
Depreciation DepreciationCr	53	75	85	121	121	117	169	202	257	271	333	353
PBT PBTCr	75	17	135	184	15	32	253	374	398	148	84	131
Tax TaxCr	20	6	40	64	5	11	55	126	115	-184	12	25
PAT PATCr	55	11	95	120	10	21	198	248	283	332	72	107
Growth PAT Growth%	-27.7	-79.4	746.3	26.5	-91.9	113.2	858.1	25.3	14.0	17.2	-78.3	-71.3
NPM NPM%	6.0	1.2	6.4	6.2	0.8	1.6	8.5	7.8	7.6	8.2	1.7	2.4
EPS EPS₹	3.9	0.8	6.0	7.4	0.6	1.1	12.4	15.5	17.3	22.9	4.0	5.9

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	911	921	1,491	1,931	1,216	1,289	2,320	3,193	3,705	4,034	4,238	4,440
Growth Revenue Growth%	21.1	1.1	61.9	29.5	-37.0	6.0	80.0	37.6	16.0	8.9	5.1	8.6
Expenses ExpensesCr	730	759	1,203	1,547	1,009	1,066	1,803	2,501	2,932	3,475	3,595	3,727
Operating Profit Operating ProfitCr	180	162	288	384	207	223	517	692	773	560	643	713
OPM OPM%	19.8	17.6	19.3	19.9	17.0	17.3	22.3	21.7	20.9	13.9	15.2	16.1
Other Income Other IncomeCr	2	7	4	3	7	6	1	4	27	25	-15	-10
Interest Expense Interest ExpenseCr	54	77	73	82	79	80	96	120	146	166	210	219
Depreciation DepreciationCr	53	75	85	121	121	117	169	202	257	271	333	353
PBT PBTCr	75	17	135	184	15	32	253	374	398	148	84	131
Tax TaxCr	20	6	40	64	5	11	55	126	115	-184	12	25
PAT PATCr	55	11	95	120	10	21	198	248	283	332	72	107
Growth PAT Growth%	-27.7	-79.4	746.3	26.5	-91.9	113.2	858.1	25.3	14.0	17.2	-78.3	-71.3
NPM NPM%	6.0	1.2	6.4	6.2	0.8	1.6	8.5	7.8	7.6	8.2	1.7	2.4
EPS EPS₹	3.9	0.8	6.0	7.4	0.6	1.1	12.4	15.5	17.3	22.9	4.0	5.9

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	29	29	33	33	33	32	32	32	36	36	36
Reserves ReservesCr	442	440	726	840	843	851	1,046	1,266	2,598	3,001	3,187
Current Liabilities Current LiabilitiesCr	642	913	839	793	794	1,065	1,423	1,470	1,553	2,275	2,132
Non Current Liabilities Non Current LiabilitiesCr	573	476	459	535	559	757	982	938	1,071	1,245	1,756
Total Liabilities Total LiabilitiesCr	1,685	1,858	2,056	2,200	2,229	2,704	3,484	3,730	5,258	6,557	7,178
Current Assets Current AssetsCr	633	751	904	903	792	1,154	1,807	1,850	2,324	2,508	2,448
Non Current Assets Non Current AssetsCr	1,052	1,106	1,153	1,297	1,437	1,551	1,677	1,880	2,934	4,050	4,730
Total Assets Total AssetsCr	1,685	1,858	2,056	2,200	2,229	2,704	3,484	3,730	5,258	6,557	7,178

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	29	29	33	33	33	32	32	32	36	36	36
Reserves ReservesCr	442	440	726	840	843	851	1,046	1,266	2,598	3,001	3,187
Current Liabilities Current LiabilitiesCr	642	913	839	793	794	1,065	1,423	1,470	1,553	2,275	2,132
Non Current Liabilities Non Current LiabilitiesCr	573	476	459	535	559	757	982	938	1,071	1,245	1,756
Total Liabilities Total LiabilitiesCr	1,685	1,858	2,056	2,200	2,229	2,704	3,484	3,730	5,258	6,557	7,178
Current Assets Current AssetsCr	633	751	904	903	792	1,154	1,807	1,850	2,324	2,508	2,448
Non Current Assets Non Current AssetsCr	1,052	1,106	1,153	1,297	1,437	1,551	1,677	1,880	2,934	4,050	4,730
Total Assets Total AssetsCr	1,685	1,858	2,056	2,200	2,229	2,704	3,484	3,730	5,258	6,557	7,178

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	104	144	127	267	254	140	43	745	621	33	840
Investing Cash Flow Investing Cash FlowCr	-169	-107	-110	-254	-231	-222	-354	-299	-1,117	-912	-929
Financing Cash Flow Financing Cash FlowCr	67	-37	-17	-12	-22	147	280	-438	625	722	235
Net Cash Flow Net Cash FlowCr	1	-1	0	1	1	65	-31	8	129	-157	146
Free Cash Flow Free Cash FlowCr	-67	34	15	13	27	-91	-256	390	35	-929	-38
CFO To PAT CFO To PAT%	189.8	1,279.9	133.9	222.6	2,621.7	675.1	21.7	300.4	219.6	9.8	1,169.6
CFO To EBITDA CFO To EBITDA%	57.4	88.8	44.1	69.7	122.6	62.6	8.3	107.7	80.3	5.8	130.7

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	104	144	127	267	254	140	43	745	621	33	840
Investing Cash Flow Investing Cash FlowCr	-169	-107	-110	-254	-231	-222	-354	-299	-1,117	-912	-929
Financing Cash Flow Financing Cash FlowCr	67	-37	-17	-12	-22	147	280	-438	625	722	235
Net Cash Flow Net Cash FlowCr	1	-1	0	1	1	65	-31	8	129	-157	146
Free Cash Flow Free Cash FlowCr	-67	34	15	13	27	-91	-256	390	35	-929	-38
CFO To PAT CFO To PAT%	189.8	1,279.9	133.9	222.6	2,621.7	675.1	21.7	300.4	219.6	9.8	1,169.6
CFO To EBITDA CFO To EBITDA%	57.4	88.8	44.1	69.7	122.6	62.6	8.3	107.7	80.3	5.8	130.7

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	977	1,370	2,284	1,708	497	1,672	2,523	4,577	12,493	13,984	8,483	12,606
Price To Earnings Price To Earnings	18.3	122.2	24.1	14.2	51.2	80.8	12.7	18.4	42.9	33.7	117.9	115.3
Price To Sales Price To Sales	1.1	1.5	1.5	0.9	0.4	1.3	1.1	1.4	3.4	3.5	2.0	2.8
Price To Book Price To Book	2.1	2.9	3.0	1.9	0.6	1.9	2.3	3.5	4.7	4.6	2.6	3.6
EV To EBITDA EV To EBITDA	10.0	13.9	10.6	6.6	6.7	12.7	7.9	8.5	17.5	28.8	16.8	21.2
Profitability Ratios Profitability Ratios
GPM GPM%	38.4	35.1	32.4	30.5	33.7	33.4	33.9	34.7	33.0	30.6	29.5	29.5
OPM OPM%	19.8	17.6	19.3	19.9	17.0	17.3	22.3	21.7	20.9	13.9	15.2	16.1
NPM NPM%	6.0	1.2	6.4	6.2	0.8	1.6	8.5	7.8	7.6	8.2	1.7	2.4
ROCE ROCE%	10.0	7.0	13.7	15.7	5.3	5.3	12.9	18.8	14.1	6.1	5.2	5.2
ROE ROE%	11.6	2.4	12.5	13.8	1.1	2.3	18.4	19.1	10.7	10.9	2.2	2.2
ROA ROA%	3.2	0.6	4.6	5.5	0.4	0.8	5.7	6.7	5.4	5.1	1.0	1.0
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	977	1,370	2,284	1,708	497	1,672	2,523	4,577	12,493	13,984	8,483	12,606
Price To Earnings Price To Earnings	18.3	122.2	24.1	14.2	51.2	80.8	12.7	18.4	42.9	33.7	117.9	115.3
Price To Sales Price To Sales	1.1	1.5	1.5	0.9	0.4	1.3	1.1	1.4	3.4	3.5	2.0	2.8
Price To Book Price To Book	2.1	2.9	3.0	1.9	0.6	1.9	2.3	3.5	4.7	4.6	2.6	3.6
EV To EBITDA EV To EBITDA	10.0	13.9	10.6	6.6	6.7	12.7	7.9	8.5	17.5	28.8	16.8	21.2
Profitability Ratios Profitability Ratios
GPM GPM%	38.4	35.1	32.4	30.5	33.7	33.4	33.9	34.7	33.0	30.6	29.5	29.5
OPM OPM%	19.8	17.6	19.3	19.9	17.0	17.3	22.3	21.7	20.9	13.9	15.2	16.1
NPM NPM%	6.0	1.2	6.4	6.2	0.8	1.6	8.5	7.8	7.6	8.2	1.7	2.4
ROCE ROCE%	10.0	7.0	13.7	15.7	5.3	5.3	12.9	18.8	14.1	6.1	5.2	5.2
ROE ROE%	11.6	2.4	12.5	13.8	1.1	2.3	18.4	19.1	10.7	10.9	2.2	2.2
ROA ROA%	3.2	0.6	4.6	5.5	0.4	0.8	5.7	6.7	5.4	5.1	1.0	1.0
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

	SONACOMS	HAPPYFORGE	CIEINDIA	RKFORGE	BALUFORGE	STEELCAS	UNIPARTS
Market CapitalizationMkt CapCr	49,559	17,542	14,074	12,606	5,681	3,491	3,229
Close PriceClose₹	794.00	1,858.20	371.00	679.30	468.00	345.00	715.10
IndustryIndustry	Castings Forgings and Fasteners	Castings Forgings and Fasteners	Castings Forgings and Fasteners	Castings Forgings and Fasteners	Castings Forgings and Fasteners	Castings Forgings and Fasteners	Castings Forgings and Fasteners
Price To EarningsPE	70.89	53.52	15.59	115.33	19.24	38.55	17.89
Price To SalesPS	10.12	10.68	1.41	2.84	4.84	7.91	2.60
RevenueRevenueCr	4,897	1,642	9,997	4,440	1,175	441	1,244
Revenue Growth TTMRev Gr TTM%	39.6%	15.5%	12.5%	8.6%	19.7%	9.3%	27.4%
PAT Growth TTMPAT Gr TTM%	18.3%	21.6%	14.3%	-71.3%	18.2%	14.6%	85.0%

	SONACOMS	HAPPYFORGE	CIEINDIA	RKFORGE	BALUFORGE	STEELCAS	UNIPARTS
Market CapitalizationMkt CapCr	49,559	17,542	14,074	12,606	5,681	3,491	3,229
Close PriceClose₹	794.00	1,858.20	371.00	679.30	468.00	345.00	715.10
IndustryIndustry	Castings Forgings and Fasteners	Castings Forgings and Fasteners	Castings Forgings and Fasteners	Castings Forgings and Fasteners	Castings Forgings and Fasteners	Castings Forgings and Fasteners	Castings Forgings and Fasteners
Price To EarningsPE	70.89	53.52	15.59	115.33	19.24	38.55	17.89
Price To SalesPS	10.12	10.68	1.41	2.84	4.84	7.91	2.60
RevenueRevenueCr	4,897	1,642	9,997	4,440	1,175	441	1,244
Revenue Growth TTMRev Gr TTM%	39.6%	15.5%	12.5%	8.6%	19.7%	9.3%	27.4%
PAT Growth TTMPAT Gr TTM%	18.3%	21.6%	14.3%	-71.3%	18.2%	14.6%	85.0%

FY2026

FY2025

FY2024

FY2023

FY2022

FY2021

FY2020

FY2026

Jun 26