Raymond Ltd Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Published 7 Aug 2026 | Market Cap: ₹4.2K Cr

Aerospace & Defense business expects continuous growth driven by long-term 5- and 10-year contracts and increasing market share from initial 35% to 65%. Aerospace & Defense business is expected to maintain robust growth driven by increasing order book and expanding market shares, supported by a pipeline of new products (more than one new part per day).

From Raymond Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.

Price

₹643

Market Cap

₹4.2K Cr

P/E Ratio

0.8

Raymond Ltd — Quarterly revenue & net profit

Revenue Net Profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹603 Cr, net profit ₹12 Cr.

Full financials →

📊 Revenue & Sales Performance

→Aerospace & Defense business expects continuous growth driven by long-term 5- and 10-year contracts and increasing market share from initial 35% to 65%.
→Order book reflects a 2.5 to 3-year revenue visibility, with a growing pipeline of new products (over one new part developed daily).
→LEAP engine production is growing at 15%-20% annually, positively impacting parts supply volumes.
→Expansion of manufacturing capabilities with investments in advanced machinery and capacity to handle complex parts supports scaling.
→Strong demand environment backed by OEM production ramp-ups, improving supply chains, and decreasing inventories.
→Strategy includes diversifying into multiple engine platforms and increasing parts per platform.
→Revenue growth and margin expansion expected in both Aerospace (targeting 23%-25% EBITDA margin) and Auto Components (aiming to exceed 15% EBITDA margin).
→Export momentum and global partnerships continue to support sustained growth and scaling of operations.

📈 Profitability & Margins

→Aerospace & Defense business is expected to maintain robust growth driven by increasing order book and expanding market shares, supported by a pipeline of new products (more than one new part per day).
→EBITDA margins in Aerospace could improve to 23%-25% long term.
→Precision Technology & Auto Components business aims to surpass 15% EBITDA margin, driven by higher sales volumes, favorable product mix, integration synergies, and operational efficiencies.
→Overall margin expansion expected from increased scale, operating benefits, and cost improvements.
→Continued investment in capacity expansion (INR 1,000 crores capex over 5 years in Andhra Pradesh) to support sustained growth.
→Stable receivable and inventory cycles with efficient working capital management to support profitability.
→Expect gradual margin improvements and revenue growth as new products mature and scale is achieved.
→Long-term EPS growth expected due to margin expansion and accelerating top-line growth.

🏗️ Capital Expenditure Plans

→Raymond Limited is making significant capital investments, notably around INR 1,000 crores in Andhra Pradesh spread over the next 5 years.
→Capex split: Approximately INR 500 crores allocated to Aerospace and about INR 430 crores to Automotive segments.
→Investments target capacity expansion, capability enhancements, and maintenance/upgrades including advanced machinery like high-precision multi-axis GROB machines.
→The Andhra Pradesh facility aims to provide a competitive cost base and strategic scale to support growth.
→Continuous investments are planned to ramp up production capacity dynamically in response to new product development and increasing demand.
→The company generates enough cash to fund capex, supplemented by debt and credit lines.
→Working capital management also supports growth with improved operating leverage and export-oriented packaging credit lines.
→Focused on expanding manufacturing footprint, innovation, and strategic partnerships to support increased production and complexity of parts.

💰 Fundraising & Capital Structure

→Gautam Maini mentioned that investments and capex depend on business opportunities and contracts secured.
→The company is generating enough cash to fund its investments.
→Besides internal cash generation, debt and other financing options are available to support funding needs.
→Navin Sharma (CFO) stated that the business is making a decent amount of free cash flow to fund working capital requirements.
→Additionally, export-oriented packaging credit lines are in place to support working capital.
→There is no explicit mention of any immediate or planned new fundraising specifically through debt or equity at this stage.

📋 Order Book & Pipeline

→The Aerospace & Defense business typically holds order books spanning 2.5 to 3 years.
→Contracts are usually 5 to 10 years long, with renewals or growth based on market share.
→Current safe estimate for the order book is a 2.5-year future revenue window.
→The order book is continuously growing in line with sales growth.
→New product introductions (FAIs) occur at a rate of more than one new part every day, contributing to order book expansion.
→Growth in order book is driven by a strong pipeline and increasing demand.
→The company maintains strategic supplier agreements and is actively engaged in long-term contract discussions with global OEMs and Tier 1 suppliers.

Key Metrics

Frequently Asked Questions

What were Raymond Ltd Q3 FY26 results?

What is Raymond Ltd share price analysis?

Raymond Ltd currently shows a neutral. The stock trades at a P/E of 0.8 with a market cap of ₹4,190 Cr. Investors should review the full earnings analysis for detailed insights.

Is Raymond Ltd planning capital expenditure?

Raymond Limited is making significant capital investments, notably around INR 1,000 crores in Andhra Pradesh spread over the next 5 years.

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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.