Key Quantitative Figures

  • Aerospace & Defence order book: ₹2,350 crore (over next five years)
  • Revenue alignment with new name: 93% of consolidated revenue in FY2025-2026
  • Asset alignment with new name: 51.70% of consolidated assets as of March 31, 2026
  • Precision aero-engine parts developed: 1,300+
  • Global aerospace clients: 25+
  • Aerospace operations from complex aero-engine parts: more than 75%

Parties Involved

  • Raymond Limited (the Company)
  • National Securities Depository Limited (NSDL) - e-voting service provider
  • DM & Associates Company Secretaries LLP - Scrutinizer appointment
  • Mr. Dinesh Deora (Membership No. F5683, COP No.:4119) - Scrutinizer
  • Mr. T. Kaushik (Membership No. F10607, COP No.:16207) - Alternate Scrutinizer
  • Ministry of Corporate Affairs - Regulatory authority
  • Registrar of Companies, Central Registration Centre - Name approval authority
  • BSE Limited and National Stock Exchange of India Limited - Stock exchanges
  • Ashok T. Khedekar, Chartered Accountant - Compliance certifier

Purpose and Rationale

The proposed name change from "Raymond Limited" to "Raymond Aerospace, Defence & Engineering Limited" aims to align the company's corporate identity with its current business reality and strategic direction following the demerger of its Lifestyle and Real Estate businesses. The company has transitioned into a focused platform for Automotive & Precision Engineering and Aerospace & Defence, and the historical name no longer reflects its operational focus.

The explanatory statement from Group CFO Rakesh Tiwary provides detailed rationale:

  • The name "Raymond" is strongly associated with textiles and apparel, creating perception issues
  • The company now operates as an engineering-led platform with aerospace and defence as principal businesses
  • The change provides immediate clarity to investors about the company's strategic direction
  • Retains Raymond heritage while repositioning for future growth in technology and precision manufacturing
  • Creates cleaner capital-market architecture for the Raymond Group's three listed entities
  • Improves investor discovery and access to relevant investor universe specializing in aerospace, defence, and engineering
  • Enhances analyst positioning and potential research coverage
  • Increases international investor relevance given global aerospace supply chain relationships

Financial and Operational Impact

The name change will not result in any change to the legal status, constitution, turnover, operations, or activities of the company. It will not affect any existing rights, liabilities, or obligations of the company or its stakeholders. All contracts, deeds, bonds, agreements, and legal proceedings will continue in full force under the new name upon issuance of the fresh Certificate of Incorporation.

There is no proposal to change the objects of the company pursuant to the name change.

Capital Structure Impact

No impact on capital structure disclosed. The name change does not affect share capital, voting rights, or shareholding pattern.

Cash Flow Implications

No direct cash flow implications disclosed. Costs associated with the name change process are not quantified in the disclosure.

Compliance Status

A certificate from Ashok T. Khedekar, Chartered Accountant, confirms compliance with SEBI Regulation 45(1) conditions:

  • No name change in the last one year - Complied
  • 93% of consolidated revenue in FY2025-2026 accounted for by activities suggested by new name - Complied
  • 51.70% of consolidated assets invested in activities represented by proposed name - Complied

Voting Process Details

  • Remote e-voting exclusively through NSDL
  • EVEN (Event Number): 143403
  • Cut-off date for eligibility: October 23, 2026
  • Voting rights proportional to shareholding as of cut-off date
  • Physical copies of notice not sent - electronic mode only
  • Scrutinizer appointed to ensure fair and transparent process
  • Results to be declared within two working days after voting concludes
  • Resolution deemed passed on November 30, 2026, if approved by requisite majority

Documentation Availability

All material documents referred to in the explanatory statement are available for inspection at the registered office during working hours until the last date of remote e-voting. Members may also request documents via email at corp.secretarial@raymond.in.

Board Recommendation

The Board of Directors recommends shareholder approval by special resolution through postal ballot.

Interest Disclosure

None of the Directors, Key Managerial Personnel, or their relatives are directly or indirectly concerned or interested in the resolution, except to the extent of their shareholding in the company.