RACL Geartech Limited (RACLGEAR)
₹1,525.50 +3.25% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, RACL Geartech's revenue was ₹132 Cr (+31.0% year on year, +0.3% on the previous quarter), and net profit ₹8.9 Cr (+11.3% year on year); the operating margin was 24.1%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹132 | +31.0% | +0.3% |
| Operating profit | ₹31.9 | +68.1% | +10.1% |
| Net profit | ₹8.9 | +11.3% | -25.8% |
| EPS (₹) | 7.55 | +7.7% | -28.0% |
| Operating margin | 24.1% | — | — |
RACLGEAR delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 48.77% of the RACLGEAR shares traded on NSE were taken to delivery, against the stock's own 20-session average of 41.87%. That is close to its usual level. Volume was 0.3 times its average, well below normal.
Delivery in the last 5 sessions: 47.6% · 46.0% · 43.0% · 56.6% · 48.8%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
RACL Geartech Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the period from July 1, 2026 to September 30, 2026. The certificate issued by Registrar and Share Transfer Agent MAS Services Limited confirms that dematerialisation requests received during the quarter were processed, verified, and confirmed to depositories within the mandated 15-day timeline. Physical share certificates received were mutilated and cancelled as required by regulations. This represents a standard administrative disclosure with no financial impact.
- Covers the quarter ended September 30, 2026 (01/07/2026 to 30/09/2026)
- RTA MAS Services Limited confirmed compliance within the required 15-day window
- Security certificates received were mutilated and cancelled with member registers updated
RACL Geartech Limited submitted an update under Regulation 30 informing exchanges that NDTV Profit has shared the TV interview of CMD Mr. Gursharan Singh on x.com. This is an administrative follow-up to an earlier intimation submitted on September 18, 2026. The filing contains no new financial, commercial, or operational disclosures. Financially, RACL Geartech has a market cap of ₹2,032 crore and TTM revenue of ₹522 crore.
- Follow-up disclosure dated September 18, 2026 under Regulation 30 of SEBI LODR Regulations
- Links to an external broadcast interview of CMD Gursharan Singh posted on x.com by NDTV Profit
- No new financial figures, order updates, or capital allocation details were disclosed in the filing
RACL Geartech Limited submitted an intimation under Regulation 30 of SEBI LODR regarding a media interaction. Mr. Gursharan Singh, Chairman & Managing Director, appeared for a TV interview with NDTV Profit on September 18, 2026, at 01:30 PM. The company explicitly confirmed that no Unpublished Price Sensitive Information (UPSI) was discussed during the broadcast.
- CMD Mr. Gursharan Singh participated in an interview on NDTV Profit on September 18, 2026
- Interview took place at 01:30 PM IST
- Company confirmed zero Unpublished Price Sensitive Information (UPSI) was shared
RACL Geartech Limited issued a clarification to the stock exchanges regarding a recent significant spurt in trading volume. The company confirmed that there is no undisclosed material information, event, or announcement that requires reporting under Regulation 30 of the SEBI LODR Regulations. Management stated that recent share price and volume movements are purely market-driven.
- Clarification submitted regarding exchange query on spurt in volume
- Company confirmed zero undisclosed material events under Regulation 30
- Share price and volume movement declared purely market-driven
- Filing letter dated September 11, 2026 acknowledged on September 16, 2026
RACL Geartech Limited submitted the voting results and consolidated Scrutinizers' Report for its 43rd Annual General Meeting (AGM) held on September 14, 2026. The meeting was conducted via Video Conferencing/Other Audio-Visual Means in compliance with SEBI LODR Regulation 44. The submission reflects procedural sign-offs on AGM agenda items through remote and AGM e-voting. This is a routine statutory disclosure with no direct material financial impact on ongoing operations.
- 43rd Annual General Meeting successfully conducted on September 14, 2026 at 11:30 A.M. IST
- Consolidated Scrutinizers' Report submitted covering remote e-voting and e-voting at the AGM
- Filing submitted pursuant to Regulation 44 of SEBI LODR Regulations, 2015
- Meeting conducted via Video Conferencing / Other Audio-Visual Means
RACL Geartech Limited successfully held its 43rd Annual General Meeting on September 14, 2026, via video conferencing with 95 members attending. Shareholders considered the adoption of FY26 financial statements and the re-appointment of Managing Director Mr. Gursharan Singh. The statutory auditor and secretarial auditor reports for FY26 were unqualified. Final e-voting outcomes and scrutinizer results will be declared within two working days, on or before September 16, 2026.
- Held 43rd Annual General Meeting on September 14, 2026, with 95 total members present (4 promoter, 91 public).
- Put forward ordinary resolutions including adoption of FY26 financial statements and re-appointment of Managing Director Mr. Gursharan Singh.
- Remote e-voting was active from 9:00 a.m. on September 11, 2026, to 5:00 p.m. on September 13, 2026.
- Auditor's reports for FY26 had zero qualifications, adverse observations, or comments on financial transactions.
- Consolidated scrutinizer voting results will be declared on or before September 16, 2026.
RACL Geartech has released the transcript for its Q1 FY26-27 earnings conference call. The company reported a consolidated turnover of ₹132.60 Cr for Q1, driven by exports of ₹85.06 Cr (64%) and domestic sales of ₹40.54 Cr (31%). Geographical mix stands at 59% Europe, 36% India & Asia Pacific, and 5% North America. Management reiterated a 15-20% annual growth target with aims to double revenue in 3-4 years, noting a positive recovery from key customer KTM.
- Consolidated Q1 FY27 turnover stood at ₹132.60 Cr, with exports contributing ₹85.06 Cr (64%)
- Geographical revenue contribution: Europe 59%, India & Asia Pacific 36%, and North America 5%
- Crossed ₹512 Cr consolidated turnover in FY25-26 with 29 active customers and >1,600 SKUs
- Management targeting 15-20% sustainable annual growth to double revenue over the next 3-4 years
- Annual investor plant visit scheduled for the first week of December 2026
RACL Geartech Limited has submitted a clarification to the stock exchanges regarding a significant increase in trading volume. The company confirmed that there is no undisclosed material event or price-sensitive information under Regulation 30 of SEBI LODR impacting its operations. Management clarified that the volume and price movements are purely market-driven.
- Clarification submitted to NSE and BSE on August 24, 2026
- Company confirmed compliance with Regulation 30 disclosure requirements
- Clarified that share price and volume movements are purely market driven
RACL Geartech Limited has informed the stock exchanges that it conducted its Q1 FY 2026-27 investor conference call on August 25, 2026. The audio recording of the discussion has been uploaded to the company's official website in compliance with SEBI LODR regulations. The document itself does not disclose financial metrics or qualitative discussion points from the call. Investors can access the audio recording on the company website for management commentary on operational and strategic developments.
- Conducted Q1 FY 2026-27 Investor Conference Call on August 25, 2026
- Audio recording of the conference call uploaded to www.raclgeartech.com
- Filing submitted pursuant to Regulation 30 of SEBI LODR Regulations
RACL Geartech released its Q1 FY26-27 investor presentation, reporting a 31.50% YoY increase in consolidated operating revenue to ₹132.35 crore (total revenue ₹132.60 crore). Consolidated EBITDA rose to ₹32.19 crore, maintaining strong margins at 24.28%. Profit Before Tax (PBT) expanded by 49.32% YoY to ₹16.82 crore compared to ₹11.26 crore in the year-ago period. Exports remained the core growth driver, making up 66% of net sales, with Europe accounting for 59% of geographic distribution.
- Consolidated operating revenue grew 31.50% YoY to ₹132.35 Cr (Total revenue ₹132.60 Cr)
- Consolidated PBT increased 49.32% YoY to ₹16.82 Cr from ₹11.26 Cr
- Consolidated EBITDA reached ₹32.19 Cr with a margin of 24.28%
- Exports contributed 66% of net sales, with Europe holding a 59% geographic share
RACL Geartech has issued the notice for its 43rd Annual General Meeting (AGM) scheduled for September 14, 2026, via video conferencing. Key ordinary and special businesses include the adoption of FY 2025-26 audited financial statements and the re-appointment of Mrs. Narinder Paul Kaur (retiring by rotation). Additionally, shareholder approval is sought for the 5-year extension of Mr. Gursharan Singh as Chairman & Managing Director from August 23, 2027, to August 22, 2032. The statutory auditor's report noted no material defaults, unrecorded income, or reported frauds.
- 43rd Annual General Meeting scheduled for September 14, 2026, at 11:30 AM IST via VC/OAVM
- Special resolution proposed for the re-appointment of CMD Mr. Gursharan Singh for a 5-year term from August 23, 2027, to August 22, 2032
- Disputed income tax demand noted under Traces is minor at ₹0.03 crore
- Auditor confirmed full compliance on funds raised and no defaults in loan or interest repayments
RACL Geartech Limited has informed the exchanges that it will host an Investor Conference Call for Q1 FY2026-27 on Tuesday, August 25, 2026, at 03:30 PM IST. The meeting will be conducted via video/audio conference with senior leadership, including the CMD, COO, and CFO. The company recently reported Q1 revenue of Rs 132.35 Cr and net profit of Rs 8.9 Cr. Investors will look for commentary regarding the progress of its Rs 350 Cr strategic pipeline and European export demand.
- Investor Conference Call scheduled for Tuesday, August 25, 2026, at 03:30 P.M. (IST)
- Call will cover financial performance and operational updates for Q1 of FY 2026-27
- Management representation includes Chairman & MD Gursharan Singh, COO Prabh Mehar Singh, and CFO Jitender Jain
RACL Geartech reported a strong start to FY27 with consolidated revenue increasing 31.5% YoY to Rs 132.60 Cr. Profit Before Tax (PBT) saw a significant surge of 49.32% YoY, reaching Rs 16.82 Cr, reflecting improved operational leverage. While EBITDA margins slightly compressed to 24.28% from 25.11% in the year-ago period, the absolute EBITDA grew 17.95% to Rs 32.19 Cr. The company maintains a heavy export focus, with 64% of revenue coming from international markets, primarily Europe.
- Consolidated revenue grew by 31.5% YoY to Rs 132.60 Cr from Rs 108.7 Cr.
- Profit Before Tax (PBT) increased by 49.32% YoY to Rs 16.82 Cr.
- Exports contributed 64% of total consolidated revenue, with Europe making up 62% of standalone exports.
- Consolidated EBITDA rose 17.95% YoY to Rs 32.19 Cr.
- Standalone revenue from operations grew 27.74% YoY to Rs 127.63 Cr.
The Board of RACL Geartech has approved the re-appointment of Mr. Gursharan Singh as Chairman & Managing Director for a five-year term, effective from August 23, 2027, to August 22, 2032. This early re-appointment, decided over a year in advance, ensures leadership continuity for the company which currently generates Rs 490 Cr in TTM revenue. Mr. Singh brings over 45 years of industry experience, which is critical as the company executes strategic projects with a Rs 350 Cr revenue potential. The appointment remains subject to shareholder approval.
- Re-appointment for a 5-year term commencing August 23, 2027, and ending August 22, 2032
- Mr. Gursharan Singh possesses over 45 years of extensive industry experience in mechanical engineering and strategic planning
- The board meeting for this decision lasted 6 hours, from 11:30 AM to 5:30 PM on August 7, 2026
- Leadership continuity supports the company's transition to a design-partner model with ARRK Engineering GmbH
- Company is currently managing four strategic projects with a combined revenue potential of Rs 350 Cr
RACL Geartech approved its Q1 FY27 financial results and the re-appointment of Mr. Gursharan Singh as Chairman & Managing Director for a five-year term effective August 2027. While the full consolidated P&L table was truncated in the filing, the German subsidiary (RACL Geartech GmbH) reported a revenue of ₹8.19 cr and a PAT of ₹3.11 cr for the quarter. The company has scheduled its 43rd Annual General Meeting for September 14, 2026. This meeting ensures leadership continuity as the company pursues its ₹350 cr revenue potential from strategic projects.
- Re-appointment of Mr. Gursharan Singh as CMD for a 5-year term from August 23, 2027, to August 22, 2032
- German subsidiary RACL Geartech GmbH reported Q1 revenue of ₹8.19 cr
- Subsidiary achieved a net profit of ₹3.11 cr for the quarter ended June 30, 2026
- 43rd Annual General Meeting (AGM) scheduled for September 14, 2026
- Book closure period for the AGM set from September 6 to September 13, 2026
Financial Performance
Revenue Growth by Segment
Total operating income grew by 1% in FY25 to INR 425.94 Cr from INR 421.54 Cr in FY24. In H1 FY26, standalone revenue grew 9.11% YoY to INR 230.8 Cr, while consolidated revenue grew 6.75% YoY to INR 234.56 Cr. Growth was tempered by a revenue loss of INR 35–40 Cr due to the operational halt of a key customer, KTM Austria.
Geographic Revenue Split
Exports contributed 68% (INR 290.97 Cr) of total sales in FY25, while domestic sales accounted for 32% (INR 92.97 Cr). The company maintains a presence across Europe, Asia-Pacific, and North America.
Profitability Margins
PAT margin moderated to 6.01% in FY25 from 9.44% in FY24 due to higher finance costs and fixed cost allocations. However, H1 FY26 saw a recovery with Profit Before Tax (PBT) growing 86.98% YoY to INR 27.45 Cr on a consolidated basis.
EBITDA Margin
EBITDA margin stood at 21.68% in FY25, a decline of 215 bps from 23.82% in FY24. Performance improved in H1 FY26 with an EBITDA margin of 24.52%, up from 21.09% in H1 FY25, driven by higher value addition in the premium segment.
Capital Expenditure
The company incurred capex of ~INR 46 Cr in FY25, funded by INR 35 Cr in term loans and internal accruals. Planned capex for FY25 is INR 37.06 Cr for capacity expansion, following a previous FY24 capex plan of ~INR 61 Cr for modernization and new product capacities.
Credit Rating & Borrowing
CARE Ratings reaffirmed 'CARE A-' for long-term facilities and 'CARE A2+' for short-term facilities in October 2025, revising the outlook from 'Stable' to 'Positive'. Total debt stood at INR 209.49 Cr as of June 30, 2025, following an INR 80 Cr equity infusion.
Operational Drivers
Raw Materials
High-precision steel alloys and specialized metal blanks for transmission gears and shafts; specific material cost percentages are not disclosed in available documents.
Capacity Expansion
The company operates two manufacturing units in Gajraula and Noida, Uttar Pradesh. It is currently executing four strategic projects with a combined revenue potential of INR 350 Cr over the next four years to expand its high-precision component capacity.
Raw Material Costs
Raw material price risk is managed through long-term contracts and nomination letters from OEMs, though specific YoY cost change percentages were not provided.
Manufacturing Efficiency
Average utilization of working capital borrowings stood at ~90% for the 12 months ended July 31, 2024, indicating high operational activity despite external headwinds.
Logistics & Distribution
Distribution is heavily export-oriented (68-70% of revenue), making the company sensitive to global shipping disruptions like the Red Sea crisis and rising competition from Chinese EVs in European markets.
Strategic Growth
Expected Growth Rate
15-18%
Growth Strategy
Growth will be driven by four strategic projects with an INR 350 Cr revenue potential. The company is transitioning from a build-to-print model to a design-partner model through a technical collaboration with ARRK Engineering GmbH (Germany) for product design, virtual simulation, and prototyping.
Products & Services
Transmission gears, shafts, precision machined components, and sub-assemblies for next-generation drive trains in the premium automotive and industrial segments.
Brand Portfolio
RACL Geartech (formerly Raunaq Automotive Components Limited).
New Products/Services
Next-generation drive train components and high-precision gears developed through the ARRK Engineering alliance, expected to contribute to the INR 350 Cr project pipeline.
Market Expansion
Targeting increased penetration in the premium segment of the global automobile industry, specifically in Europe and North America, by upgrading technology and engineering skills.
Strategic Alliances
Technical agreement with ARRK Engineering GmbH, Germany, for advanced expertise in product design, prototyping, and testing.
External Factors
Industry Trends
The industry is shifting toward high-performance engines and electric vehicles. RACL is positioning itself by collaborating with German engineering firms to design components for 'next-generation' drive trains to counter the threat from Chinese EV competition.
Competitive Landscape
Faces competition from domestic gear manufacturers and increasingly from Chinese EV component suppliers in the European market.
Competitive Moat
Moat is built on long-term (3.5+ decades) relationships with global premium OEMs and a high-entry barrier created by the 2-3 year validation and prototyping cycle required for high-precision gears.
Macro Economic Sensitivity
Highly sensitive to European economic cycles and disposable income levels, as these drive demand for the premium vehicles RACL supplies.
Consumer Behavior
Increasing disposable incomes in North America and Europe are driving demand for high-end vehicle features and performance, benefiting RACL's premium product portfolio.
Geopolitical Risks
Geopolitical tensions in the Middle East (Red Sea) and the Russia-Ukraine conflict impact supply chains and increase logistics costs for the export-heavy business.
Regulatory & Governance
Industry Regulations
Compliant with international quality standards required by global OEMs; adheres to SEBI Listing Obligations and Disclosure Requirements (LODR) and the Companies Act 2013.
Environmental Compliance
The company underwent a comprehensive ESG assessment by Dun & Bradstreet (D&B) to benchmark sustainability practices against global standards.
Legal Contingencies
The company successfully exited the Board for Industrial and Financial Reconstruction (BIFR) purview in November 2007; no current pending court case values were disclosed.
Risk Analysis
Key Uncertainties
The primary uncertainty is the recovery of European demand and the successful ramp-up of the INR 350 Cr project pipeline, which could be delayed by further geopolitical disruptions.
Geographic Concentration Risk
High geographic concentration in Europe, which is the primary destination for its 68% export revenue share.
Third Party Dependencies
High dependency on a few premium OEMs; the halt of one customer (KTM) caused a ~9% hit to potential annual revenue.
Technology Obsolescence Risk
Risk of traditional gear systems being replaced by EV-specific drivetrains; mitigated by the ARRK Engineering collaboration for next-gen components.
Credit & Counterparty Risk
Receivables quality is considered high as the company deals with reputed global OEMs with long-standing payment tracks.
