Consolidated Financial Performance (Q1 FY27)
- Total Income: ₹628 crore (Q1 FY26: ₹555 crore, +13% YoY)
- EBITDA: ₹100 crore (Q1 FY26: ₹87 crore, +14% YoY)
- EBITDA Margin: 15.9% (Q1 FY26: 15.7%)
- Depreciation: ₹38 crore (Q1 FY26: ₹39 crore)
- Interest Expense: ₹20 crore (Q1 FY26: ₹19 crore)
- PBT before exceptions: ₹42 crore (Q1 FY26: ₹30 crore, +40% YoY)
- PBT Margin: 6.7% (Q1 FY26: 5.4%)
- Exceptional Items: ₹0 crore (Q1 FY26: ₹0 crore)
- Taxes: ₹(10) crore credit (Q1 FY26: ₹(8) crore credit)
- Net Profit: ₹31 crore (Q1 FY26: ₹21 crore, +48% YoY)
- Other Income: ₹22 crore (Q1 FY26: ₹31 crore)
Segmental Performance Breakdown
Precision Technology & Auto Components (JK Maini Precision Technology Ltd)
- Revenue: ₹444 crore (Q1 FY26: ₹398 crore, +11% YoY)
- EBITDA: ₹61 crore (Q1 FY26: ₹42 crore, +46% YoY)
- EBITDA Margin: 13.8% (Q1 FY26: 10.6%)
- Includes Tools & Hardware division, RPAL and Auto division of erstwhile Maini Precision
- 8,000+ SKUs, 900+ active dealers, 120K retail touchpoints, exports to 90+ countries
Aerospace & Defence (JK Maini Global Aerospace Ltd)
- Revenue: ₹123 crore (Q1 FY26: ₹87 crore, +40% YoY)
- EBITDA: ₹26 crore (Q1 FY26: ₹21 crore, +25% YoY)
- EBITDA Margin: 21.2% (Q1 FY26: 23.7%)
- Margin compression attributed to targeted R&D investments for capacity expansion
- Includes Aerospace & Defence division of erstwhile Maini Precision
Others Segment
- Revenue: ₹61 crore (Q1 FY26: ₹70 crore)
- EBITDA: ₹12 crore (Q1 FY26: ₹24 crore)
- Includes unallocated expenses, elimination & other income
Strategic Positioning & Corporate Structure
Raymond Limited has completed strategic corporate restructuring to become a pure-play aerospace, precision technology and auto components company. The demerged entities are:
- Raymond Lifestyle (listed Sep 05, 2024): Branded textiles & apparel, global garmenting B2B
- Raymond Realty (listed Jul 01, 2025): Thane land bank development, MMR asset-light JDA model
Raymond Limited retains net cash surplus of ₹68 crore (FY26) with zero non-core asset distraction.
Business Overview & Capabilities
Global Execution Footprint
- 16 state-of-the-art manufacturing facilities
- 1,800+ advanced machines | 5,250+ workforce
- Near-plant 3PL warehousing hubs in Europe and North America
- Supplies directly to Tier-1 assembly lines of Boeing, Airbus, Safran, and Pratt & Whitney
Aerospace & Defence Business Highlights
- Leading exporter of highly critical aero engine components from India
- 1,300+ precision aerospace parts developed
- 350+ parts engineered for advanced LEAP engines
- 25+ global aero components manufacturing clients
- 20+ year relationships with top aerospace OEMs and Tier 1 suppliers
- Preferred supplier to top 3 global aircraft engine manufacturers holding 88% market share
- ₹5,960+ crore aerospace order book with 10-year horizon
- Operating through JK Maini Global Aerospace Ltd (Revenue ₹392 Cr, EBITDA ₹88 Cr, EBITDA Margin 22.3% in FY26)
Precision Technology & Auto Components Highlights
- Market leadership in engineering consumables
- 1,600+ auto components manufactured
- 100+ large global customers across 18+ global locations
- 7 decades as trusted Tier-1 supplier
- Operating through JK Maini Precision Technology Ltd (Revenue ₹1,667 Cr, EBITDA ₹223 Cr, EBITDA Margin 13.4% in FY26)
Expansion Plans & Capital Investment
Aerospace & Defence Expansion (Andhra Pradesh)
- Investment: ~₹510 crore over 5 years
- Total Area: ~45 acres near Bengaluru airport
- Purpose: High-precision aero-engine components, complex machining & special processes, assemblies
- Timeline: Ground-breaking completed, production targeted for late 2027
Precision Technology & Auto Expansion (Andhra Pradesh)
- Investment: ~₹430 crore over 5 years
- Total Area: ~32 acres near Bengaluru airport
- Purpose: Serve EV, hybrid & next-gen mobility, new customer nominations & assemblies
- Current capacity utilization: ~85-90%
Total committed capacity investment: ~₹1,000 crore
Current Operational Status & Outlook
JK Maini Precision Technology Limited
- Recorded highest-ever quarterly revenue in company's history
- Began mass production of precision components for a leading defence OEM
- Andhra expansion progressing on track for late 2027 commercial production
- Establishing training and production facility in Andhra Pradesh ahead of schedule
- Aftermarket business scheduled for rollout in Q2 FY27
JK Maini Global Aerospace Limited
- Recorded highest-ever quarterly revenue in company's history
- Achieved formal audit approvals from key Indian defense and aerospace OEM
- Secured 135 total part awards on flagship aircraft localization program
- 100 parts in serial production, 35 parts advancing through final First Article Inspection
Financial Model & Guidance
- Company to remain net cash surplus
- Aerospace margins expected to stabilize as programs reach steady-state
- Strong RFQ activity with easing supply chain headwinds
- Capacity being created against visible customer programmes rather than anticipation