Revenue CAGR (3-year)
25%
+25% CAGR
Existing stainless steel business has grown at 25% CAGR over the last three years.
RATNAVEERPRECISIONENGINE
Other
15 May 2026
Ratnaveer Precision Engineering Ltd — Q4 FY26
Ratnaveer Precision Engineering reported a strong finish to FY26, with the existing stainless steel business growing at a 25% CAGR over the past three years.
✓ Verified against BSE filing
2-Minute Summary
✦ AI-Generated from Full Transcript
Ratnaveer Precision Engineering reported a strong finish to FY26, with the existing stainless steel business growing at a 25% CAGR over the past three years. The company is aggressively diversifying into Copper Clad Laminates (CCL), a critical raw material for PCBs, with a ₹338 crore capex approved under the PLI scheme. The first CCL line is expected to commence production by November 2026, targeting a total revenue contribution of ₹750 crore from five lines by FY28. Management reiterated a consolidated revenue target of ₹2,500 crore in 2-3 years, with EBITDA margins of ~13% and PAT margins of ~10.5%. Key risks include execution delays due to monsoon, reliance on a Chinese technology partner, and potential working capital strain from rapid expansion.
रत्नवीर प्रेसिजन इंजीनियरिंग ने वित्त वर्ष 26 की अच्छी समाप्ति की। पिछले तीन सालों में इसका स्टेनलेस स्टील का कारोबार हर साल 25% की दर से बढ़ा है। अब कंपनी कॉपर क्लैड लैमिनेट्स (CCL) बनाने में कदम रख रही है, जो PCB के लिए ज़रूरी कच्चा माल है। इसके लिए PLI योजना के तहत 338 करोड़ रुपये की मंज़ूरी मिली है। पहली CCL लाइन नवंबर 2026 तक शुरू होने की उम्मीद है। पाँच लाइनों से वित्त वर्ष 2028 तक 750 करोड़ रुपये का कारोबार होने का लक्ष्य है। कंपनी का 2-3 साल में 2,500 करोड़ रुपये का कुल कारोबार लक्ष्य है, जिसमें मुनाफ़ा (EBITDA) लगभग 13% और शुद्ध मुनाफ़ा (PAT) लगभग 10.5% रहेगा। जोखिमों में बारिश से देरी, चीनी कंपनी पर निर्भरता और तेज़ विस्तार से पैसे की कमी शामिल है।
Key Numbers
CCL Revenue Target (FY28)
₹750 Cr
New
Target revenue from five CCL lines at 69% capacity utilization by FY28.
Consolidated Revenue Target (2-3 years)
₹2,500 Cr
New
Combined target from stainless steel (~₹1,800 Cr) and CCL (~₹750 Cr).
CCL EBITDA Margin (individual)
20%
New
Projected EBITDA margin for the CCL business individually.
Management Guidance
CCL first line production by November 2026
First CCL line to commence production by November 2026, with trial runs in October.
Management guidance expansionConsolidated revenue target of ₹2,500 crore in 2-3 years
Targeting ₹2,500 crore consolidated revenue in 2-3 years, with ₹1,800 crore from existing business and ₹750 crore from CCL.
Management guidance revenueCCL EBITDA margin of 20% and PAT margin of 13%
Individual CCL business expected to achieve 20% EBITDA margin and 13% PAT margin.
Management guidance marginsFundraising of ₹330 crore by September 2026
Planned fundraising of ₹330 crore through QIP or rights issue to fund CCL capex and working capital.
Management guidance capexKey Risks
Execution delay due to monsoon
Management acknowledged that monsoon could delay civil work and machine installation, pushing CCL production beyond November 2026.
medium · management_commentaryDependence on Chinese technology partner
The CCL project relies on a Chinese partner for machinery and technical support, posing geopolitical and supply chain risks.
medium · analyst_questionSharp increase in trade receivables
Trade receivables rose from ₹65 crore to ₹175 crore despite modest revenue growth, indicating potential working capital strain.
high · data_observationNo firm offtake agreements for CCL
Management admitted only soft confirmations from PCB manufacturers, with no binding contracts for CCL offtake.
medium · analyst_questionNotable Quotes
We have been a tie up with the Chinese company for the technology partner and till up to the installation, commissioning and quantity of the product should be coming out.
Our output of the production cost can be easily beat to the Chinese products as well in terms of the quality, production, and commercial viability.
We have been very much firm committed and devoted and our integrity would highest integrity would be there to execute this project.
Frequently Asked Questions
What was Ratnaveer Precision Engineering's revenue in Q4 FY26?
Ratnaveer Precision Engineering reported revenue of ₹249 Cr in Q4 FY26, representing a — change compared to the same quarter last year.
What guidance did Ratnaveer Precision Engineering management give for FY27?
CCL first line production by November 2026: First CCL line to commence production by November 2026, with trial runs in October. Consolidated revenue target of ₹2,500 crore in 2-3 years: Targeting ₹2,500 crore consolidated revenue in 2-3 years, with ₹1,800 crore from existing business and ₹750 crore from CCL. CCL EBITDA margin of 20% and PAT margin of 13%: Individual CCL business expected to achieve 20% EBITDA margin and 13% PAT margin. Fundraising of ₹330 crore by September 2026: Planned fundraising of ₹330 crore through QIP or rights issue to fund CCL capex and working capital.
What are the key risks for Ratnaveer Precision Engineering in FY27?
Key risks include Execution delay due to monsoon — Management acknowledged that monsoon could delay civil work and machine installation, pushing CCL production beyond November 2026.; Dependence on Chinese technology partner — The CCL project relies on a Chinese partner for machinery and technical support, posing geopolitical and supply chain risks.; Sharp increase in trade receivables — Trade receivables rose from ₹65 crore to ₹175 crore despite modest revenue growth, indicating potential working capital strain.; No firm offtake agreements for CCL — Management admitted only soft confirmations from PCB manufacturers, with no binding contracts for CCL offtake..
Did Ratnaveer Precision Engineering meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Ratnaveer Precision Engineering Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary with filing verification status shown on the financial stats.