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Revenue
₹603 Cr
verified against source
Revenue YoY
2%
reported change
EBITDA
₹85 Cr
latest reported figure
Source
nse announcements
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Raymond Engineering reported Q4 FY26 consolidated revenue of ₹613 crore (+2% YoY), with EBITDA of ₹85 crore (13.9% margin, down 250bps YoY) due to lower other income and one-time items. The aerospace segment grew 11% YoY to ₹119 crore, maintaining a 25.5% EBITDA margin, driven by strong RFQ pipeline and new product development. Precision technology & auto components revenue rose 5% YoY to ₹442 crore, with EBITDA margin expanding 250bps to 15.2% (excluding a one-time land sale gain). Full-year revenue grew 10% to ₹2,312 crore, with EBITDA flat at ₹335 crore. Management guided for 25% CAGR in aerospace, supported by a ₹930 crore capex plan over 5 years (₹500 crore aerospace, ₹430 crore precision tech). The company remains debt-free with net cash of ₹68 crore. Key risk: US tariff uncertainties and raw material import dependency (100% imported aerospace alloys) could pressure margins.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects 25% year-on-year growth in aerospace revenue, with existing capacity sufficient for FY27 and new Andhra plant contributing from FY29.
- ₹500 crore for aerospace (greenfield in Andhra) and ₹430 crore for precision technology; annual spend ~₹200 crore, funded through internal accruals and debt.
- Targeting one new component per day; 250-350 new components annually, with 20-25% as sub-assemblies to move up value chain.
- Excluding one-time gains, EBITDA margins of ~15% are sustainable due to permanent cost synergies and operational efficiencies.
Risks flagged
- US tariffs have caused logistical complexities and temporary rescheduling; management noted 'some temporary rescheduling and delays across the industry'.
- 100% of aerospace raw materials (titanium, aluminium alloys) are imported, exposing margins to geopolitical supply disruptions and cost inflation.
- New plant requires customer approvals and certification; any delays could impact FY29 growth trajectory.
- Order book of ₹2,350 crore implies ~₹470 crore annual run-rate, but actual conversion depends on new product ramp-up; management noted 'it's not like a fixed' order book.
Key quotes
- We have the capacity to grow this business by 25% for next year within our existing system.
- The biggest opportunity for us is when we start setting up Andhra... it's a clean slate for all.
- It's not the 250 which is more important, what is important is that how do you go up the value chain on those 250 parts.
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