Any current/future new fundraising through debt or equity?

No plans for new borrowings or debt fundraising; company is currently debt-free. Expansion capex of INR 20-25 crores will be funded through internal accruals. No immediate plans for equity issuance or new equity fundraising. Short-term borrowings noted are only bill discounts against export invoices, not new loans. Management emphasizes managing capex and working capital through internal cash flow. While partnerships are in pipeline, no collaborations or funding related to them are disclosed yet.

Any current/future capex/capital investment/strategic investment?

Current capex: Existing capital work in progress around INR 2.5 crores. Planned capex: INR 22-25 crores investment planned, to be spread over FY 2024 and FY 2025 in a phased manner. Purpose: Investment will be primarily in building additional space, tools, and team building (especially R&D, sales, and marketing). Capacity expansion: Additional capacity expected to increase revenue generation by about 30%, from INR 200-250 crores to around INR 275 crores. Funding: Capex to be funded through internal accruals; no borrowing plans currently. Revenue impact: New capex expected to contribute to reve

Future growth expectations in sales/revenue/volumes?

The company targets a revenue growth of 15% to 18% annually over the next three years. Current capacity supports turnover of around INR 200 crores; with planned capex of INR 20-25 crores over FY ‘24 and FY ‘25, capacity is expected to increase by about 30%, enabling revenue potential up to INR 250-275 crores. Export contribution is aimed to increase from 35% to above 50% by FY ‘24. Growth is supported by new product development, geographical expansion into Europe, CIS, and the Middle East, and increasing presence in packaging, agriculture, renewable, and plastic recycling sectors. New solar sh

Future growth expectations in earnings/operating earnings/profits/EPS?

Rajoo Engineers expects a revenue growth of 15% to 18% year-on-year for the next 3 years, supported by a clear pipeline of opportunities. Operating margin guidance is around 12% to 15%. Net margin guidance for FY24 is expected to improve to 8% to 10%. Sustainable PAT margin is projected at 8% to 10% over the next few years. Basic EPS for FY23 was INR 1.63, down 32% YoY from INR 2.40 in FY22, but improvement is anticipated with margin recovery. Growth is driven by expansion in exports, new product lines (e.g., sheet extrusion line for solar), and capacity enhancements via INR 20–25 cr

Current/ Expected Orderbook/ Pending Orders?

Current order book stands at INR 185 crores. Lead time for products ranges from 3 months to 8 months. The company is expecting high-value orders aligned with market expectations, especially from high-growth markets. There are pipelines of partnerships and collaborations in progress, but nothing finalized or disclosed yet. The company anticipates a revenue growth of 15% to 18% year-on-year for the next three years supported by new capacity and product innovations.

Rajoo Engineers LtdQ4 FY23Industrial Manufacturing

Rajoo Engineers Ltd Q4 FY23 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹51.99P/E: 19.2Market Cap: ₹929 CrSector: Industrial Manufacturing

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

Order

N/A

Capex

Yes

1 of 4 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 3

The company targets a revenue growth of 15% to 18% annually over the next three years.
Current capacity supports turnover of around INR 200 crores; with planned capex of INR 20-25 crores over FY ‘24 and FY ‘25, capacity is expected to increase by about 30%, enabling revenue potential up to INR 250-275 crores.
Export contribution is aimed to increase from 35% to above 50% by FY ‘24.
Growth is supported by new product development, geographical expansion into Europe, CIS, and the Middle East, and increasing presence in packaging, agriculture, renewable, and plastic recycling sectors.
New solar sheet extrusion products target a demand for 30-40 machines over the next 2-3 years.
Operating margins are expected in the range of 12%-15%, with sustainable PAT margins around 8%-10%.

Margin guidance

Category 3

Rajoo Engineers expects a revenue growth of 15% to 18% year-on-year for the next 3 years, supported by a clear pipeline of opportunities.
Operating margin guidance is around 12% to 15%.
Net margin guidance for FY24 is expected to improve to 8% to 10%.
Sustainable PAT margin is projected at 8% to 10% over the next few years.
Basic EPS for FY23 was INR 1.63, down 32% YoY from INR 2.40 in FY22, but improvement is anticipated with margin recovery.
Growth is driven by expansion in exports, new product lines (e.g., sheet extrusion line for solar), and capacity enhancements via INR 20–25 crore capex spread over FY24 and FY25.
The company aims to increase export contribution from 35% to above 50% of total revenue.
Continued investment in R&D and market expansion underpin future earnings growth.

See what Rajoo Engineers Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

No plans for new borrowings or debt fundraising; company is currently debt-free.
Expansion capex of INR 20-25 crores will be funded through internal accruals.
No immediate plans for equity issuance or new equity fundraising.
Short-term borrowings noted are only bill discounts against export invoices, not new loans.
Management emphasizes managing capex and working capital through internal cash flow.
While partnerships are in pipeline, no collaborations or funding related to them are disclosed yet.

Order book

Current order book stands at INR 185 crores.
Lead time for products ranges from 3 months to 8 months.
The company is expecting high-value orders aligned with market expectations, especially from high-growth markets.
There are pipelines of partnerships and collaborations in progress, but nothing finalized or disclosed yet.
The company anticipates a revenue growth of 15% to 18% year-on-year for the next three years supported by new capacity and product innovations.

See what Rajoo Engineers Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

Current capex: Existing capital work in progress around INR 2.5 crores.
Planned capex: INR 22-25 crores investment planned, to be spread over FY 2024 and FY 2025 in a phased manner.
Purpose: Investment will be primarily in building additional space, tools, and team building (especially R&D, sales, and marketing).
Capacity expansion: Additional capacity expected to increase revenue generation by about 30%, from INR 200-250 crores to around INR 275 crores.
Funding: Capex to be funded through internal accruals; no borrowing plans currently.
Revenue impact: New capex expected to contribute to revenue starting FY 2024.
Strategic focus: Heavy investment in exports, R&D for energy-efficient products, and digitalization of aftermarket services.

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Rajoo Engineers Ltd Q4 FY23 Earnings Call Analysis

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What Rajoo Engineers Ltd's management said in earlier quarters

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