Transcript of the Earning Call held on 14th May, 2026.
RATNAVEER · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Ratnaveer Precision Engineering held its Q4 & FY26 earnings call covering its stainless steel fasteners and CCL (Copper Clad Laminate) new business line. The company disclosed a 2,500 crore revenue target in 2-3 years (1,800 crore from existing stainless business at 25% CAGR + 750 crore from CCL). CCL is a 351 crore project with a Chinese technology partner, 338 crore government approval under ECMS scheme, targeting 20% EBITDA and 13% PAT margins for the CCL segment alone. Management also confirmed a European precision components acquisition is in due diligence, expected to close in 10-12 months. A 330 crore QIP fundraise is planned by September 2026. Promoter holding will dilute to ~42-43% post-QIP and warrant conversion. One analyst flagged negative OCF of ~48 crore and receivables nearly tripling from 65 to 175 crore, which management attributed to rapid revenue growth, new product launches, and capex working capital cycle.
The company is in a high-investment phase with multiple capital raises and a new CCL business that management calls a 'first mover' in India. The multiyear guidance and disclosed European acquisition add strategic depth, but the receivables growth and OCF negativity warrant monitoring for working capital stress.