US tariff and trade policy uncertainty
US tariffs have caused logistical complexities and temporary rescheduling; management noted 'some temporary rescheduling and delays across the industry'.
RAYMOND / Q4-FY26 / risks
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Raymond · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
Material risks this quarter
high
Raw material import dependency
100% of aerospace raw materials (titanium, aluminium alloys) are imported, exposing margins to geopolitical supply disruptions and cost inflation.
Execution risk in greenfield Andhra plant
New plant requires customer approvals and certification; any delays could impact FY29 growth trajectory.
Order book conversion pace
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.