Investor Presentation for the Quarter and Financial Year ended on 31st March, 2026.
RATNAVEER · price
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Ratnaveer Precision Engineering reported strong FY26 results with revenue crossing ₹1,000 Cr for the first time at ₹1,068.74 Cr (up 19.83% YoY), EBITDA at ₹121.88 Cr (up 34.79%), and PAT at ₹64.31 Cr (up 37.5%). Q4 FY26 was particularly strong with EBITDA margin expanding 535 bps YoY to 14.32% and PAT margin at 6.64%. The company announced a ₹330 Cr fundraise for greenfield expansion into Copper Clad Laminates (CCL) and an electric division, with the first CCL production line targeted for November 2026 commissioning. Credit rating was upgraded from IVR BBB+ to IVR A- (Stable), reflecting improved balance sheet health. The company provided specific multi-year targets: CCL division targeting ₹750+ Cr revenue with 22% EBITDA margin in 2 years, and consolidated revenue of ₹2,500 Cr with 13% EBITDA margin in 3 years.
The strong FY26 results and margin expansion signal operational leverage is kicking in. The ₹330 Cr fundraise for CCL diversification addresses a large import substitution opportunity (over 90% of India's CCL demand is currently imported), positioning Ratnaveer as a first-mover. However, the large equity raise may dilute existing shareholders in the near term.