An engineering and precision-manufacturing business that supplies components to global automotive, aerospace and defence customers. Its main segment, Precision Technology and Auto Components, contributed ₹1,666.93 crore of FY26 revenue (75.3% of segment revenue) from machined parts sold to global auto OEMs and Tier 1 suppliers. Aerospace and Defence contributed ₹392.38 crore (17.7% of segment revenue), growing 26% year-on-year in FY26, with an order book of ₹2,350 crore spread over 5 years. Management has moved from build-to-print work to co-design and value-engineering with global aerospace OEMs, adding 100+ new aerospace SKUs in FY26 and targeting 250 new components in FY27. The Aerospace segment posted a 25.5% EBITDA margin in Q4 FY26, while Precision Technology's FY26 EBITDA margin expanded to 13.4% (from 11% in FY25). The largest cost line is materials at 33.7% of revenue, followed by employee costs at 18.9% and other operating expenses at 36.6%. The balance sheet is debt-free with a ₹68 crore net cash surplus, and a ₹930 crore capex programme is committed over 5 years — ₹500 crore for an aerospace greenfield in Andhra Pradesh (commercial production targeted Q4 FY28) and ₹430 crore for Precision Technology. A former Bharat Electronics CMD was appointed CEO of Defence to drive expansion into defence electronics and systems. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Precision Technology and Auto Components (75%), Aerospace and Defence (18%), Others (7%). Capital-intensive precision engineering with cyclical auto exposure and a structurally growing aerospace and defence franchise
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 6,179 | 8,215 | 9,020 | 1,947 | 2,212 |
| EBITDA (ex other income) | 548 | 1,092 | 1,266 | 176 | 34 |
| margin % | 8.9 | 13.3 | 14.0 | 9.1 | 1.5 |
| Owners' profit | 260 | 529 | 2,088 | 7,631 | 5,341 |
| EPS, as reported (₹) | 39.11 | 79.45 | 246.07 | 1147.00 | 802.31 |
| ROE % · ROCE % | 10.9 · 12.1 | 18.0 · 22.1 | 41.3 · 14.3 | 183.7 · 2.7 | 172.0 · (0.5) |
| Debt / equity (x) | 0.85 | 0.71 | 0.68 | 0.18 | 0.32 |
| Cash from operations | 677 | 804 | 533 | 233 | 42 |
| Capex | (60) | (116) | (208) | (158) | (114) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,045 | 954 | 557 | 524 | 528 | 557 | 603 | 606 |
| Profit before tax | 103 | 100 | 45 | 30 | (148) | 10 | 5 | 42 |
| Net profit | 59 | 72 | 137 | 5,328 | 14 | 7 | 12 | 31 |
| EPS (₹) | 9.02 | 10.84 | 20.00 | 800.16 | 1.71 | 0.54 | 0.17 | 3.15 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Precision technology and auto component | 859 | 36.6 |
| Aerospace and defence | 224 | 9.5 |
| Others | 153 | 6.5 |
| Precision Technolodgy and Auto Component | 808 | 34.4 |
| Aerospace and Defence | 168 | 7.2 |
| Discontinued operations | 138 | 5.9 |
| Total, before eliminations | 2,350 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % |
|---|
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Raymond to participate in Jefferies India Forum on Sep 17 | investor communications | low | — | — |
| 11 Sept 2026 · Raymond EGM on October 3, 2026 to approve preferential warrant issue | board shareholder meetings | low | — | — |
| 11 Sept 2026 · Raymond's aerospace unit bags orders worth about 33 crore annually from Indian defence major | compliance | low | — | — |
| 10 Sept 2026 · Raymond publishes EGM notice in newspapers | compliance | minimal | — | — |
| 8 Sept 2026 · Raymond approves Rs 214.71 crore issue of convertible warrants | fund raising | high | — | — |
| 8 Sept 2026 · Board approves Rs 214.71 Cr preferential warrants to Minerva Ventures Fund | fund raising | high | — | — |
| 7 Sept 2026 · Raymond grants 1.87 lakh stock options to employee under ESOP 2023 | capital market events | low | — | — |
| 3 Sept 2026 · Raymond board to consider fundraising proposal on Sep 8, 2026 | fund raising | medium | — | — |
| 31 Aug 2026 · Raymond to attend Elara Capital investor meet on Sept 3, 2026 | board shareholder meetings | low | — | — |
| 14 Aug 2026 · Raymond Q1 FY27: revenue up 13%, aerospace up 40%, net cash INR129 cr | investor communications | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| ROCE % |
|---|
| Rev CAGR 5y % |
|---|
| EBITDA m. % |
|---|
| ADITYA INFOTECH LIMITED | 45,150 | 93.8 | 24.06 | 77.9 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 30,717 | 82.8 | 10.02 | 53.5 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND | 30,536 | 55.7 | 6.84 | — | 11.8 | 15.5 | — | 18.2 |
| KAYNES TECHNOLOGY IND LTD | 23,496 | 67.9 | 4.93 | 33.3 | 7.6 | 9.8 | — | 17.1 |
| JYOTI CNC AUTOMATION LTD | 22,490 | 69.9 | 11.24 | 39.7 | 16.8 | 19.2 | — | 22.2 |
| LMW LIMITED | 19,058 | 109.1 | 6.65 | 61.8 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 12,982 | 455.9 | 3.81 | 38.8 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,285 | 48.3 | 7.30 | 50.1 | 11.7 | 11.5 | — | 15.0 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 180.1 | 26.9 | 131 of 138 | 5% |
| P/B | 2.1 | 3.5 | 39 of 111 | 66% |
| ROCE | (2.8) | 11.3 | 133 of 144 | 8% |
| ROE | 172.0 | 9.5 | 1 of 117 | 100% |
| Debt / Equity | 0.3 | 0.2 | 82 of 117 | 30% |
| EBITDA margin | 16.5 | 12.4 | 41 of 110 | 63% |
| Revenue growth | 15.5 | 20.6 | 66 of 114 | 43% |
| Profit growth | (99.4) | 17.1 | 97 of 109 | 11% |
| Market cap | 6675 | 356 | 13 of 140 | 91% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
