Raymond Limited today announced its unaudited financial results for the quarter ended 31st March 2026.
| Particulars (₹ Cr.) | Q4 FY26 | Q3 FY26 | Q4 FY25 | YoY | FY26 | FY25 | YoY | |
| Revenue from operations | 603 | 557 | 557 | 8% | 2,212 | 1,947 | 14% | |
| Other income | 10 | 23 | 44 | (78%) | 100 | 158 | (37%) | |
| Total Income | 613 | 580 | 601 | 2% | 2,312 | 2,105 | 10% | |
| EBITDA | 85 | 83 | 99 | (14%) | 335 | 335 | (0%) | |
| EBITDA Margin % | 13.9% | 14.3% | 16.4% | 14.5% | 15.9% | |||
| PBT (before exceptional items) | 25 | 24 | 45 | (43%) | 99 | 123 | (20%) | |
| PBT Margin (before exceptional items) | 4.1% | 4.2% | 7.4% | 4.3% | 5.9% |
Raymond Limited demonstrated steady growth in Q4 FY26, with Total Income of ₹ 613 Cr, reflecting a 1.8% increase over the previous year. While, the quarterly EBITDA stood at ₹ 85 Cr with an EBITDA margin of 13.9%, the full year performance highlights a stronger growth trajectory. FY26 Total Income reached at ₹ 2,312 Cr, up 9.8% from ₹ 2,105 Cr in FY25. Annual EBITDA remained stable and flat at ₹ 335 Cr. with an EBITDA margin of 14.5% in FY26 vs. an EBITDA of ₹ 335 Cr with an EBITDA margin of 15.9% in FY25. Although margins experienced a compression due to lower non-operating income, the core business remains fundamentally robust.
This performance was anchored by the Aerospace & Defense and Precision Technology & Auto Components divisions. In the Aerospace & Defence division, we capitalized on the shift toward domestic production of sophisticated subsystems, securing a high-value pipeline for global Tier-1 partners. Similarly, the Precision Technology & Auto Components division saw healthy growth in export of critical components for the hybrid sector, ensuring healthy operational momentum across the group
Commenting on the performance, Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said; “FY26 was defined by healthy growth across our core Aerospace, Defence, and Precision Technology segments, maintaining resilience even through the final quarter. Our strategy remains clear: we are investing in high-moat sectors where our technical expertise provides a competitive edge. As our subsidiaries continue to deliver strong operational results, our priority is now to scale at pace with global demand. We remain steadfast in our pursuit of high-margin opportunities that drive long-term shareholder wealth.”
Q4FY26 & FY26 Segmental Snapshot
| REVENUE | EBITDA | EBITDA % | ||||||
| Particulars (₹ Cr.) | Q4 FY26 | Q4 FY25 | YoY | Q4 FY26 | Q4 FY25 | YoY | Q4 FY26 | Q4 FY25 |
| Precision Technology & Auto Components | 442 | 421 | 5% | 67 | 53 | 26% | 15.2% | 12.7% |
| Aerospace & Defense | 119 | 107 | 11% | 30 | 27 | 11% | 25.5% | 25.5% |
| Others | 51 | 73 | (13) | 18 | ||||
| Total | 613 | 601 | 2% | 85 | 99 | (14%) | 13.9% | 16.4% |
| REVENUE | EBITDA | EBITDA % | ||||||
| Particulars (₹ Cr.) | FY26 | FY25 | YoY | FY26 | FY25 | YoY | FY26 | FY25 |
| Precision Technology & Auto Components | 1,667 | 1,513 | 10% | 223 | 167 | 34% | 13.4% | 11.0% |
| Aerospace & Defense | 392 | 311 | 26% | 88 | 70 | 25% | 22.3% | 22.4% |
| Others | 252 | 281 | 24 | 98 | ||||
| Total | 2,312 | 2,105 | 10% | 335 | 335 | (0%) | 14.5% | 15.9% |
Q4FY26 & FY26 Segmental Performance
Aerospace & Defence Business:
Generated ₹ 119 crore in revenue in Q4 FY26, a 11.5% increase over ₹ 107 crore in Q4 FY25. EBITDA grew by 11.4%, reaching ₹ 30 crore in Q4 FY26 compared to ₹ 27 crore in Q4 FY25. We successfully sustained our EBITDA margins at 25.5%, while absorbing the costs of accelerated scaling, while continuing to fully expense R&D investments for our new product pipeline.
Generated ₹ 392 crore in revenue in FY26, representing a healthy 26.0% increase from ₹ 311 crore in FY25. EBITDA also grew by 25.3%, reaching ₹ 88 crore in FY26 compared to ₹ 70 crore in FY25. However, the EBITDA margin was marginally lower at 22.3% for the year vs 22.4% in FY25.
Our overall performance was bolstered by increased production for leading global OEMs and product portfolio expansion. Furthermore, we witnessed steady increase in Requests for Quotation (RFQs) and active exploration of collaborative ventures with global partners, indicate a favorable mid-to-long-term demand environment.
Precision Technology & Auto Components:
Generated ₹ 442 crore in revenue in Q4 FY26, a 4.91% increase from ₹ 421 crore in Q4 FY25. EBITDA grew by 26.0%, reaching ₹ 67 crore in Q4 FY26 compared to ₹ 53 crore in Q4 FY25 on account of higher sales and operating leverage. The EBITDA margin stood at 15.2% for the quarter vs. 12.7% in Q4 FY25. This margin expansion was on account of operating leverage.
Generated ₹ 1,667 crore in revenue in FY26, a 10.2% increase from ₹ 1,513 crore in FY25. EBITDA grew by 34.0%, reaching ₹ 223 crore in FY26 compared to ₹ 167 crore in FY25. The EBITDA margin stood at 13.4% in FY26 vs. 11.0% in FY25. Enhanced profitability this year was a result of increased scale and an optimized product portfolio, alongside a non-recurring gain of ~₹13 crore from a Q2 land sale. We are pursuing a footprint in new global markets and industrial sectors, capitalizing on the ‘China Plus One’ tailwinds. By combining integration synergies with sharpened operational efficiencies, we are capturing significant business momentum both domestically and globally.
Raymond Limited continues to remain net-debt-free, ending the year with a net cash surplus of ₹ 68 Cr, providing the financial flexibility required to fund future organic and inorganic growth opportunities.
