Raymond Limited has informed the Exchange about Transcript
RAYMOND · price
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Raymond Limited shared its Q1 FY26 earnings call transcript covering its newly restructured engineering business, which has been split into two subsidiaries effective August 1, 2025: JK Maini Global Aerospace Limited (JKMGAL) and JK Maini Precision Technology Limited (JKMPTL). Consolidated Q1 FY26 revenue rose to INR555 crore (from INR500 crore), but EBITDA dipped to INR87 crore with margin at 15.7% versus 18.9% a year ago due to product mix changes. Aerospace revenue grew 37% YoY to INR87 crore at 23.7% EBITDA margin, while precision tech/auto revenue grew 12% YoY to INR398 crore at 10.6% margin. The company signed an MOU with Safran Aircraft Engines and a long-term supply agreement with Pratt & Whitney, leveraging a global aircraft backlog of 16,000 units and 5–10 year contracts. Raymond remains net cash positive with INR157 crore net surplus and INR1,122 crore in cash.
Positive for shareholders: management guided aerospace to double in 3-4 years with sustainable EBITDA margins returning to ~25% as scale builds, auto components targeting double-digit margins in ~2 years, and operational ROCE returning to 20%+ levels. Capital will be reinvested for growth rather than debt reduction, supporting the expansion trajectory.