Rajratan Global Q4 FY25 Results & Concall Highlights: Revenue, Margins & Order Book
Published 28 May 2026 | Auto Components | Market Cap: ₹2.6K Cr
Rajratan Global Wire Limited is targeting a 15% volume growth for FY '26, driven mainly by: - 15,000 to 18,000 tons growth in India, primarily from the Chennai plant ramping up to 20,000 tons. - 5,000 tons growth in Thailand with customer profile shift for better realizations. - Chennai facility is expected to reach breakeven volumes (~10,000-11,000 tons) by Q2 FY '26 and surpass it to become profitable thereafter. - Exports from Chennai to Europe and the US are expected to grow, with approvals obtained and strategic shifts freeing capacities in Thailand. - Wire rope business is a new growth area with an initial investment of INR 50 crores targeting a niche market alongside the established bead wire business. - FY '26 revenue growth will be supported by increased market share (around 40% current in India) and closer proximity to customers reducing logistic lead times. 15% volume growth is projected for FY '26, driven mainly by Chennai (targeting 20,000 tons) and Thailand (5,000 tons growth).
From Rajratan Global's Q4 FY25 earnings-call transcript · updated 23 Aug 2026.
Price
₹502
Market Cap
₹2.6K Cr
P/E Ratio
32.9
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Rajratan Global — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹314 Cr, net profit ₹15 Cr.
Full financials →📊 Revenue & Sales Performance
- →Rajratan Global Wire Limited is targeting a 15% volume growth for FY '26, driven mainly by:
- → - 15,000 to 18,000 tons growth in India, primarily from the Chennai plant ramping up to 20,000 tons.
- → - 5,000 tons growth in Thailand with customer profile shift for better realizations.
- →Chennai facility is expected to reach breakeven volumes (~10,000-11,000 tons) by Q2 FY '26 and surpass it to become profitable thereafter.
- →Exports from Chennai to Europe and the US are expected to grow, with approvals obtained and strategic shifts freeing capacities in Thailand.
- →Wire rope business is a new growth area with an initial investment of INR 50 crores targeting a niche market alongside the established bead wire business.
- →FY '26 revenue growth will be supported by increased market share (around 40% current in India) and closer proximity to customers reducing logistic lead times.
- →EBITDA margins expected to improve moderately due to better capacity utilization and customer mix.
📈 Profitability & Margins
- →15% volume growth is projected for FY '26, driven mainly by Chennai (targeting 20,000 tons) and Thailand (5,000 tons growth).
- →EBITDA margin expected to improve slightly due to better utilization of Chennai facility and improved customer mix, especially in Thailand with an anticipated EBITDA margin of 10-11%.
- →Chennai facility losses (~INR11 crore in FY '25) expected to stop by May-June FY '26 and become profitable thereafter.
- →Exports to US and Europe expected to increase, enhancing volume and profitability.
- →Absolute EBITDA expected to increase modestly due to volume growth and operational efficiencies.
- →Diversification into wire rope business planned to sustain growth beyond traditional bead wire market.
- →Management emphasizes cautious projections and sustained work to “outperform” previous years.
🏗️ Capital Expenditure Plans
- →Rajratan Global Wire Limited is investing INR 50 crores to create a 10,000 tons per annum wire rope capacity, expected to start production about 1 year after purchasing used quality machinery from a European facility (previously Continental Tyres). This serves as a pilot project with plans to scale up depending on success.
- →Chennai plant saw an investment of around INR 240 crores last year, increasing depreciation and finance costs. The plant aims to produce 20,000 tons in the current financial year.
- →There is an ongoing plan to construct around 10,000 square meters of new shed space at the Pithampur unit by dismantling an old shed.
- →Further major investment for expanding wire rope capacity (beyond 10,000 tons) is planned cautiously 2-4 years down the line, depending on market acceptance and management readiness.
- →No heavy investment in bead wire is planned as the market growth is limited.
💰 Fundraising & Capital Structure
- →No explicit mention of any current or immediate future fundraising through debt or equity in the provided transcript.
- →Company is focusing on organic growth with a planned 15-20% volume growth without stressing financials or leveraging the balance sheet.
- →Management emphasizes cautious growth without heavy leveraging: "We don't want to be going faster than this, honestly."
- →New investment of around INR 50 crores planned for wire rope business, funded presumably through internal accruals or existing cash flow.
- →Debt details reveal current long-term debt around INR 150 crores on stand-alone basis, with no mention of additional borrowing plans.
- →Cost of funds stands at 8-8.2%, and some debt is linked to Chennai facility, but no announcements on fresh debt or equity issuance.
📋 Order Book & Pipeline
- →Chennai facility has approvals from key customers like MRF, CEAT, allowing incremental supplies (100-200 tons next month per product).
- →Chennai's current order flow expects volume ramp-up to 20,000 tons in FY '26 from about 5,000 tons in FY '25.
- →Trial lots and commercial orders are in place with Bridgestone, including Europe and America plants, with increasing traction.
- →Exports from Chennai to Europe and the U.S. have received quick approvals from customers willing to shift sourcing.
- →Thailand facility is targeting 5,000 tons growth with improved customer mix and approvals from multinational companies.
- →Incremental exports of 7,000 tons from Indian ports to U.S. and Europe are planned.
- →The company is exploring new product categories such as steel wire rope, addressing a 1 million ton market.
- →Management cautiously avoids overcommitment, balancing growth at 15-20% without financial overstretching.
Key Metrics
Frequently Asked Questions
What were Rajratan Global Q4 FY25 results?
Rajratan Global Wire Limited is targeting a 15% volume growth for FY '26, driven mainly by: - 15,000 to 18,000 tons growth in India, primarily from the Chennai plant ramping up to 20,000 tons. - 5,000 tons growth in Thailand with customer profile shift for better realizations. - Chennai facility is expected to reach breakeven volumes (~10,000-11,000 tons) by Q2 FY '26 and surpass it to become profitable thereafter. - Exports from Chennai to Europe and the US are expected to grow, with approvals obtained and strategic shifts freeing capacities in Thailand. - Wire rope business is a new growth area with an initial investment of INR 50 crores targeting a niche market alongside the established bead wire business. - FY '26 revenue growth will be supported by increased market share (around 40% current in India) and closer proximity to customers reducing logistic lead times. 15% volume growth is projected for FY '26, driven mainly by Chennai (targeting 20,000 tons) and Thailand (5,000 tons growth).
What is Rajratan Global share price analysis?
Rajratan Global currently shows a neutral. The stock trades at a P/E of 32.9 with a market cap of ₹2,619 Cr. Investors should review the full earnings analysis for detailed insights.
Is Rajratan Global planning capital expenditure?
Rajratan Global Wire Limited is investing INR 50 crores to create a 10,000 tons per annum wire rope capacity, expected to start production about 1 year after purchasing used quality machinery from a European facility (previously Continental Tyres).
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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.