RAYMOND - Raymond
📢 Recent Corporate Announcements
Raymond Limited has announced its participation in the 'Bharat Connect Conference: Rising Stars - March 2026' hosted by Arihant Capital. The virtual event is scheduled for March 11, 2026, and will involve one-to-one and group meetings with institutional investors. Management will discuss the company's performance based on the previously released Q3 FY26 and 9M FY26 results. This is a standard investor relations activity aimed at maintaining transparency with the financial community.
- Scheduled participation in Arihant Capital's Bharat Connect Conference on March 11, 2026
- Interaction format includes both One-to-One and Group Meetings with investors
- The conference will be held virtually to engage with a wider investor base
- Discussions will be based on existing Q3 FY26 and 9M FY26 financial presentations
Raymond Limited has issued a clarification regarding its participation in an investor conference held on February 25, 2026. While the company previously indicated it would submit a presentation, it has now informed the exchanges that no formal presentation was delivered. This update follows an earlier intimation dated February 18, 2026, and ensures compliance with SEBI Listing Regulations. The meeting likely focused on direct interactions rather than a structured slide deck.
- Participated in an Investor Conference on February 25, 2026.
- Clarified that no formal presentation was delivered during the session.
- Follows a prior intimation (RL/SE/25-26/90) dated February 18, 2026.
- The update was filed under Regulation 30 of SEBI Listing Regulations.
Raymond Limited has announced its participation in the IIFL 17th Global Investors' Conference 2026 scheduled for February 25, 2026. The company's representatives will engage in one-to-one and group meetings with institutional investors at Trident BKC, Mumbai. An updated investor presentation is expected to be filed with the stock exchanges on the day of the event. Such interactions are standard procedures for management to communicate business strategy and outlook to the investment community.
- Participation in IIFL 17th Global Investors' Conference on February 25, 2026
- Interaction format includes both one-to-one and group meetings with institutional investors
- Investor presentation to be submitted to stock exchanges on the day of the event
- Meeting venue confirmed at Trident BKC, Mumbai
Raymond Limited shareholders have approved the appointment of M/s. Chaturvedi & Shah LLP as Statutory Auditors and two new Independent Directors, Mr. Tikka Singh and Mr. Ajoy Mehta. All resolutions were passed with a significant majority, exceeding 99.98% of the votes polled. The voting process, conducted via postal ballot, saw a total turnout of 56.55% of the company's share capital. Notably, both promoters and institutional investors voted 100% in favor of all appointments.
- Statutory Auditor appointment approved with 99.9864% votes in favor.
- Appointment of two Independent Directors approved with over 99.98% majority.
- Total voter turnout recorded at 56.55% of the 66.57 million total shares.
- Promoter and Institutional investor categories provided 100% support for all resolutions.
Raymond Limited has announced its participation in the Dolat Capital Corporate Conference 2026 scheduled for February 18, 2026. The company representatives will engage in one-to-one and group meetings with institutional investors at the Grand Hyatt in Mumbai. The discussions will be based on the previously disclosed Q3 FY26 and 9M FY26 financial results. This is a routine investor relations activity aimed at maintaining transparency with the institutional investment community.
- Scheduled participation in Dolat Capital Corporate Conference on February 18, 2026
- Interaction format includes both one-to-one and group meetings with investors
- Meetings will utilize the existing Q3 FY26 and 9M FY26 Investor Presentation
- The event will be held physically at the Grand Hyatt, Mumbai
- Disclosure made under Regulation 30 of SEBI Listing Regulations
Raymond Limited has announced its participation in the 'Anand Rathi - Sashakt Bharat Aerospace & Defense Conference' scheduled for February 17, 2026, in Mumbai. The company will engage in one-to-one and group meetings with institutional investors to discuss its performance and strategy. The discussions will be based on the already published Q3 FY26 and 9M FY26 financial results. This event highlights the company's engagement with the investment community specifically within the aerospace and defense thematic framework.
- Scheduled participation in Anand Rathi Investor Conference on February 17, 2026
- Interaction format includes both One-to-One and Group Meetings with institutional investors
- Discussion will focus on previously disclosed Q3 FY26 and 9M FY26 financial results
- Conference venue is The St. Regis, Lower Parel, Mumbai
- Participation aligns with the 'Sashakt Bharat Aerospace & Defense' theme
Raymond Limited reported a robust Q3 FY26 with total income increasing 18% YoY to ₹580 crores and EBITDA margins expanding to 14.3% from 13.3%. The growth was primarily spearheaded by the Aerospace & Defense segment, which saw a 49% revenue jump to ₹105 crores, and the Precision Technology division, which grew 15%. The company maintains a strong financial position, remaining debt-free with a net cash surplus of ₹214 crores as of December 2025. Management is optimistic about future growth driven by a strong RFQ pipeline in aero engines and landing gears.
- Total income for Q3 FY26 grew 18% YoY to ₹580 crores with EBITDA rising to ₹83 crores.
- Aerospace & Defense revenue surged 49% YoY to ₹105 crores with an 18.6% EBITDA margin.
- Precision Technology & Auto Components revenue increased 15% YoY to ₹417 crores with EBITDA growing 51%.
- Maintains a debt-free balance sheet with a net cash surplus of ₹214 crores as of December 31, 2025.
- 9M FY26 total income reached ₹1,699 crores, reflecting a 13% year-on-year growth.
Raymond Limited has announced its participation in the 'MANTHAN - Systematix India Annual Conference 2026' scheduled for February 9, 2026, in Mumbai. The company representatives will engage in one-to-one and group meetings with institutional investors. Discussions will be based on the previously disclosed Q3 FY26 and 9M FY26 investor presentation. Such conferences are standard practice for management to provide clarity on financial performance and business strategy to the investment community.
- Participation in the MANTHAN - Systematix India Annual Conference on February 9, 2026
- Interaction format includes both One-to-One and Group Meetings with institutional investors
- Company to utilize the existing Q3 FY26 and 9M FY26 results presentation for discussions
- The event will be held at Taj Santacruz, Mumbai
- The schedule is subject to change based on exigencies from either the company or investors
Raymond Limited has officially released the audio recording of its investor conference call held on January 27, 2026. The call addressed the financial results for the third quarter and the nine-month period ending December 31, 2025. This disclosure complies with Regulation 30 of SEBI LODR, providing transparency to shareholders who could not attend the live session. The recording is accessible via the company's website and contains management's detailed commentary on business performance.
- Audio recording of the Q3 FY26 analyst call is now publicly available.
- The conference call took place on January 27, 2026, at 4:00 p.m. IST.
- Focus of the call was the financial performance for the quarter and nine months ended Dec 31, 2025.
- The recording link is hosted on www.raymond.in under the investor relations section.
Raymond Limited reported a strong Q3FY26 with total income growing 18% YoY to ₹580 crore and EBITDA increasing 27% to ₹83 crore. The Aerospace & Defence segment was a standout performer, with revenue surging 49% YoY to ₹105 crore, driven by production ramp-ups at global OEMs. The Precision Technology & Auto Components segment also grew 15% YoY to ₹417 crore, supported by strong demand for hybrid products in Europe. The company remains net cash surplus with ₹580 crore as of December 31, 2025.
- Consolidated Total Income for Q3FY26 grew 18% YoY to ₹580 crore
- Aerospace & Defence segment revenue increased by 49% YoY to ₹105 crore
- Precision Technology & Auto Components revenue rose 15% YoY to ₹417 crore
- PBT before exceptional items for Q3FY26 doubled to ₹24 crore from ₹12 crore YoY
- Company maintains a strong net cash surplus of ₹580 crore
Raymond Limited reported a standalone net loss of ₹324 lakhs for Q3 FY26 from continuing operations, a significant shift from the ₹928 lakh profit in the previous year's corresponding quarter. The company's financial structure has been fundamentally altered following the demerger of its Lifestyle business in 2024 and the Realty business in May 2025. Revenue from continuing operations for the quarter stood at ₹1,819 lakhs, reflecting the smaller residual business base. These results primarily represent the engineering and tools segments and holding company functions rather than the legacy textile or real estate businesses.
- Revenue from continuing operations declined to ₹1,819 lakhs in Q3 FY26 from ₹2,894 lakhs in Q3 FY25.
- Reported a standalone net loss of ₹324 lakhs for the quarter compared to a profit of ₹7,554 lakhs (including discontinued ops) YoY.
- Total income for the nine-month period ended December 31, 2025, reached ₹9,635 lakhs.
- The Realty business demerger, effective May 1, 2025, contributed to a massive accounting gain of ₹5,32,645 lakhs in the nine-month figures.
- Earnings Per Share (EPS) for continuing operations stood at negative ₹0.49 for the quarter.
Raymond Limited reported its Q3 FY2026 results, reflecting a significantly altered corporate structure following the demergers of its Lifestyle and Real Estate businesses. For the quarter ended December 31, 2025, the company reported a net loss of ₹3.24 crore from continuing operations on a revenue of ₹18.19 crore. The nine-month bottom line shows a massive profit of ₹5,282.96 crore, which is primarily attributed to a one-time accounting gain of ₹5,326.45 crore from the demerger of the Real Estate business into Raymond Realty Limited. Investors should note that the current standalone figures represent only the residual business units after the value-unlocking demergers.
- Revenue from continuing operations stood at ₹18.19 crore for Q3 FY26, down from ₹22.20 crore in the preceding quarter.
- Net loss from continuing operations for the quarter was ₹3.24 crore compared to a profit of ₹9.28 crore in the year-ago period.
- Recorded a massive one-time gain of ₹5,326.45 crore in the nine-month period due to the Real Estate business demerger effective May 1, 2025.
- Total Comprehensive Income for the nine months ended December 2025 reached ₹5,245.62 crore, driven by demerger-related exceptional items.
- The Lifestyle business demerger was previously completed on June 30, 2024, contributing to the structural shift in financial reporting.
Raymond Limited's Board has approved the amalgamation of its wholly-owned subsidiary, Everblue Apparel Limited (EBAL), into the parent company. EBAL, which focuses on converting denim fabrics into readymade garments, reported a turnover of ₹108.58 crore and a net worth of ₹3.76 crore as of December 31, 2025. As EBAL is a 100% subsidiary, no new shares will be issued, resulting in zero equity dilution for Raymond's shareholders. The merger is intended to simplify the group structure, achieve operational synergies, and reduce administrative costs.
- Amalgamation of 100% subsidiary Everblue Apparel Limited (EBAL) into Raymond Limited approved.
- EBAL reported a turnover of ₹10,858 Lakhs and a net worth of ₹376 Lakhs as of December 31, 2025.
- No cash consideration or share exchange; EBAL's entire share capital will be cancelled upon merger.
- The merger aims to integrate garmenting operations directly into Raymond for better management focus.
- The scheme is subject to approvals from NCLT, shareholders, and creditors.
Raymond Limited reported a net loss of ₹3.24 crore from continuing operations for the quarter ended December 31, 2025, a sharp decline from a profit of ₹9.28 crore in the year-ago period. Revenue from continuing operations fell to ₹18.19 crore compared to ₹22.89 crore in Q3 FY25. The financial profile of the company has fundamentally changed following the demerger of its Lifestyle and Real Estate businesses into separate entities. The current results reflect the performance of the residual 'stub' entity post-restructuring.
- Revenue from continuing operations declined 20.5% YoY to ₹18.19 crore in Q3 FY26.
- Net loss for the quarter stood at ₹3.24 crore versus a profit of ₹9.28 crore in Q3 FY25.
- Total Comprehensive Loss widened to ₹40.80 crore, largely due to a ₹44.05 crore loss in fair value of equity instruments.
- The Real Estate business demerger was completed with an effective date of May 1, 2025.
- Basic EPS for continuing operations turned negative at ₹(0.49) for the quarter.
Raymond Limited has announced its conference call to discuss the financial performance for the third quarter and nine months ended December 31, 2025. The call is scheduled for Tuesday, January 27, 2026, at 4:00 PM IST and will be hosted by Anand Rathi Research. Senior management, including the Group CFO and MD of the Engineering Business, will be present to address investor queries. This is a routine but essential event for stakeholders to understand the company's growth trajectory and segment-wise performance.
- Conference call scheduled for January 27, 2026, at 16:00 IST to discuss Q3 and 9M FY26 results.
- Senior management participation includes Group CFO Rakesh Tiwary and Engineering MD Gautam Maini.
- The event is hosted by Anand Rathi Research with universal access numbers 022 6280 1386 and 022 7115 8287.
- International dial-in options available for USA, UK, Hong Kong, and Singapore investors.
Financial Performance
Revenue Growth by Segment
Revenue from continuing operations (Engineering and others) grew 100.17% to INR 1,946.84 Cr in FY 2025 from INR 972.57 Cr in FY 2024. The Aerospace and Defense segment reported revenue of INR 168 Cr in H1 FY 2026, representing a 26% YoY growth. The Real Estate segment contributed approximately 55% of total revenue in H1 FY 2025.
Geographic Revenue Split
Not specifically disclosed in available documents, though the company operates 19 manufacturing plants across India and exports aerospace components to the US and Europe, where holiday season inventory destocking impacts Q3/Q4 cycles.
Profitability Margins
The Net Profit Ratio for FY 2025 was 589.76%, significantly inflated by a one-time exceptional gain of INR 7,337.84 Cr from the lifestyle business demerger. Profit from continuing operations before tax was stable at INR 78.34 Cr in FY 2025 compared to INR 78.75 Cr in FY 2024. Return on Equity (ROE) decreased to 1.17% in FY 2025 from 18.69% in FY 2024 due to the reduction in net worth post-demerger.
EBITDA Margin
Consolidated EBITDA margins are guided at 14-15%. The Aerospace segment achieved an EBITDA margin of 22.4% in H1 FY 2026 (up from 21.4% YoY), while the Automotive business reported a 12.3% EBITDA margin. Aerospace Q2 FY 2026 EBITDA grew 34% YoY to INR 17 Cr.
Capital Expenditure
Raymond Limited maintains a cash surplus of over INR 1,500 Cr as of September 2024. This capital is earmarked for organic growth in the engineering business and potential inorganic opportunities to unlock shareholder value.
Credit Rating & Borrowing
The company is net-debt free with a significantly improved financial risk profile. Overall gearing (times) reduced to 0.19 in FY 2025 from 0.88 in FY 2024. The Debt Service Coverage Ratio improved to 39.29 times from 1.68 times YoY.
Operational Drivers
Raw Materials
Steel, alloys, and precision metal components (implied by engineering and automotive focus) represent the primary inputs, though specific percentage breakdowns per material are not disclosed.
Capacity Expansion
Raymond operates 19 manufacturing plants across India. The company is currently optimizing capacity to drive operating leverage, particularly in the Aerospace segment which manages 1,200 to 1,400 SKUs.
Raw Material Costs
Not disclosed as a specific percentage of revenue, but management noted that gross margins for the engineering business are approximately 65%, with EBITDA margins compressed to 15-16% due to high employee and operational costs.
Manufacturing Efficiency
Operating leverage is a primary driver for margin expansion; as revenue growth delivers better capacity utilization, EBITDA is expected to increase. Aerospace EBITDA grew 32% YoY in H1 FY 2026, outpacing revenue growth of 26%.
Strategic Growth
Expected Growth Rate
10-15%
Growth Strategy
Growth will be achieved through the consolidation of Maini Precision Products Limited (MPPL), expansion into the 'sunrising' aerospace and defense sectors, and a Joint Development Agreement (JDA) model in Real Estate targeting a revenue potential of INR 7,100 Cr. The company is also focusing on new product categories and new geographies to sustain a 26% growth rate in specialized engineering segments.
Products & Services
Worsted suiting fabric, engineering tools and files, automotive components, aerospace precision parts (JK Maini Global Aerospace), and residential real estate developments (Bandra, Mahim West, Sion, and Thane).
Brand Portfolio
Raymond, Raymond Lifestyle, Raymond Realty, JK Files & Engineering, JK Maini Global Aerospace.
New Products/Services
Expansion into high-complexity aerospace parts and new JDA-based real estate projects in the Mumbai Metropolitan Region (MMR).
Market Expansion
Targeting the aerospace and defense sectors and expanding the real estate footprint in Mumbai (Bandra, Sion, Mahim).
Market Share & Ranking
Global leader in worsted suiting fabric; established market position in tools, hardware, and automotive components in India.
Strategic Alliances
Joint Development Agreements (JDA) for land parcels in Mumbai with a revenue potential of INR 7,100 Cr; acquisition of Maini Precision Products Limited (MPPL) to bolster engineering capabilities.
External Factors
Industry Trends
The industry is shifting toward specialized manufacturing and aerospace/defense. Raymond is positioning itself as a pure-play engineering and real estate entity following the demerger of its lifestyle business to unlock specialized investor interest.
Competitive Landscape
Competes with global and domestic players in automotive components and precision engineering; a new entrant in the Mumbai real estate market but leveraging a strong legacy brand.
Competitive Moat
Durable advantages include 50-year-old customer relationships in engineering, a massive land bank in Thane for real estate, and high switching costs in the aerospace precision parts business due to the complexity of manufacturing 1,400+ SKUs.
Macro Economic Sensitivity
Sensitive to global economic resilience (3.3% growth) and headline inflation (5.8%), which affects both consumer demand for lifestyle products and input costs for engineering.
Consumer Behavior
Shift toward environmentally conscious consumption, which Raymond is addressing through IFRS S2 aligned sustainability disclosures.
Geopolitical Risks
Exposure to US and European market cycles for aerospace exports; potential trade barriers could impact the engineering export business.
Regulatory & Governance
Industry Regulations
Operations are subject to NCLT approvals for demergers (received March 27, 2025, for the Realty demerger) and SEBI Listing Obligations and Disclosure Requirements (LODR).
Environmental Compliance
Committed to climate-related disclosures aligned with IFRS S2 to enhance reputation and appeal to ESG-conscious investors.
Risk Analysis
Key Uncertainties
Successful execution of demerger plans and integration of acquisitions like MPPL; volatility in consumer sentiment affecting the real estate launch success (currently 23% units sold in Bandra JDA).
Geographic Concentration Risk
Heavy concentration of real estate activities in the Mumbai Metropolitan Region (MMR), specifically Thane and Bandra.
Third Party Dependencies
Dependency on US/European aerospace OEMs for order flow and inventory cycles.
Technology Obsolescence Risk
The company is mitigating technology risks by investing in the 'learning curve towards high complex parts' in the aerospace segment.
Credit & Counterparty Risk
Receivables quality is not specifically detailed, but the company maintains a healthy cash surplus of INR 1,500 Cr, providing a significant liquidity buffer.