RACL Geartech Q3 FY25 Results & Concall Highlights: Revenue, Margins & Order Book
Published 15 Jul 2026 | Auto Components | Market Cap: ₹1.6K Cr
Projected revenue for FY26 is approximately INR 525 crores, reflecting about 20% growth over FY25. The company projects around 20-25% sales growth for FY26, targeting ₹525 crores revenue, reflecting a robust growth plan.
From RACL Geartech's Q3 FY25 earnings-call transcript · updated 23 Aug 2026.
Price
₹1,512
Market Cap
₹1.6K Cr
P/E Ratio
34.6
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RACL Geartech — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹130 Cr, net profit ₹12 Cr.
Full financials →📊 Revenue & Sales Performance
- →Projected revenue for FY26 is approximately INR 525 crores, reflecting about 20% growth over FY25.
- →Growth is expected from both domestic and export markets; domestic may contribute 30-40% and exports 60-70% of sales.
- →Domestic growth driven by premium motorcycle segments, with TVS and other new projects ramping up.
- →Export growth fueled by commercial vehicles in Europe, ongoing projects with BRP in Austria, Mexico, Canada, and Piaggio Group's new motorcycle launches.
- →KTM’s recovery expected to boost volumes mid-FY26, providing additional hedging against other forecasts.
- →Strong ramp-up planned for electric sports car project with peak sales of INR 130 crores in 2029.
- →European commercial vehicle business is growing fast due to increased production and defense sector demand.
- →Overall growth is cautiously budgeted, supported by judicious planning and diversified customer base.
📈 Profitability & Margins
- →The company projects around 20-25% sales growth for FY26, targeting ₹525 crores revenue, reflecting a robust growth plan.
- →Growth drivers include both domestic (approx. 30-40%) and export markets (60-70%) with notable expansion in premium domestic two-wheeler segments and exports.
- →Customer segments such as TVS, BRP, and Kubota (India and Japan) are expected to contribute significantly to growth through new projects and increased production.
- →Commercial vehicle segment in Europe shows encouraging order growth, expected to scale fast from FY26 onwards.
- →KTM’s operations resumption is anticipated to add incremental revenue beyond projections, treated conservatively in current budgets.
- →The company plans to reach ₹1,000 crores revenue as early as possible beyond FY26.
- →Despite some Q3 drops in EBITDA and PBT compared to last year, the company sustains margins around 21-24%, focusing on operational efficiencies to improve profitability going forward.
🏗️ Capital Expenditure Plans
- →The company has already completed borrowing and CapEx investments prior to the current period; depreciation and finance costs are slightly higher due to this past CapEx (Page 5).
- →Kubota, a major customer, is setting up a new factory in Uttar Pradesh, India, signaling potential growth opportunities for the company through this strategic client expansion (Page 16).
- →Bajaj, linked to KTM, is investing around €50 million as a loan and involved in another €100 million investment, which could benefit the company indirectly through KTM’s ramp-up (Page 6).
- →The company plans revenue growth and expects ramp-up in several projects, including new launches with customers like BRP, Piaggio (Aprilia), and KTM, indicating ongoing and future project-related investments (Page 17).
- →No specific future CapEx by the company is explicitly disclosed, but strategic alignment with customers’ expansion plans suggests potential for ongoing capital investment.
💰 Fundraising & Capital Structure
- →There is no explicit mention of any current or future fundraising through debt or equity in the transcript.
- →The company has already completed significant borrowing and capital expenditure, leading to slightly higher finance costs and depreciation, but no new borrowing plans have been disclosed.
- →The CFO mentioned that borrowing and CapEx were already done, indicating no immediate need for fresh debt.
- →The company recently got listed on the National Stock Exchange (NSE) in addition to BSE, enhancing visibility and liquidity for investors, which may facilitate future equity fundraising but no specific plans were stated.
- →Overall, the discussion focuses on operational performance and growth plans rather than fundraising activities.
📋 Order Book & Pipeline
- →The company is seeing good responses in the domestic premium motorcycle segment with several projects starting.
- →Customer BRP has multiple new projects initiating in Austria, Mexico, and Canada, contributing to both exports and domestic growth.
- →About 20-22 customers are showing growth, including SML Isuzu (school bus manufacturer) and General Electric.
- →KTM, a key customer, is expected to contribute growth starting mid next financial year, with cautious projections currently.
- →Despite some financial difficulties faced by KTM affecting recent output, they have resumed discussions and are expected to restart full production by March, which will positively impact orderbook.
- →The company’s sales plan projects 20-25% growth, backed by diligent planning and conservative projections.
- →The orderbook reflects a mix of export and domestic projects with variety and volume both considered in growth forecasts.
Key Metrics
Frequently Asked Questions
What were RACL Geartech Q3 FY25 results?
Projected revenue for FY26 is approximately INR 525 crores, reflecting about 20% growth over FY25. The company projects around 20-25% sales growth for FY26, targeting ₹525 crores revenue, reflecting a robust growth plan.
What is RACL Geartech share price analysis?
RACL Geartech currently shows a neutral. The stock trades at a P/E of 34.6 with a market cap of ₹1,635 Cr. Investors should review the full earnings analysis for detailed insights.
Is RACL Geartech planning capital expenditure?
The company has already completed borrowing and CapEx investments prior to the current period; depreciation and finance costs are slightly higher due to this past CapEx (Page 5).
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.