Raymond (RAYMOND) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 consolidated total income reached ₹555 Cr, with EBITDA at ₹87 Cr and a margin of 15.7%, reflecting steady operational execution and integration synergies.

• Strategic restructuring split the engineering business into JK Maini Precision Technology Ltd. and JK Maini Global Aerospace Ltd., effective August 2025.

• The company remains net debt free, reporting a net cash surplus of ₹157 Cr at quarter-end.

• Signed long-term supply agreements with Pratt & Whitney and Safran Aircraft Engines, strengthening the global aerospace presence.

• Major demergers completed, including Lifestyle and Real Estate businesses, now reflected as discontinued operations.

Financial highlights

• Revenue from operations grew 17% year-over-year to ₹524 Cr; total income up 11% to ₹555 Cr.

• EBITDA declined 8% year-over-year to ₹87 Cr, with margin at 15.7% versus 18.9% last year.

• Net profit was ₹21 Cr, down 8.9% year-over-year; PBT margin fell to 5.4% from 8.8%.

• Net cash surplus stood at ₹157 Cr as of June 2025.

• Profit for the period (consolidated): ₹532.8 Cr, largely due to exceptional gains from discontinued operations.

Outlook and guidance

• Aerospace business expected to double in the next 3-4 years, with high-teen growth projected and strong revenue visibility from a commercial aircraft backlog exceeding 16,000 units.

• Auto components business anticipated to grow in low to mid-teens, with double-digit EBITDA margins expected as legacy business phases out.

• Focus remains on margin improvement through cost engineering, value addition, and leveraging synergies.

• Management optimistic about future growth, citing expansion into new product categories and geographies.