Raghav Productivity Enhancers FY26 Results: Revenue Up 29%, Dividend Declared
Raghav Productivity Enhancers reported strong FY26 results with consolidated revenue of ₹25,921.22 lakh, up 29% YoY, and net profit of ₹5,480.30 lakh, up 48% YoY. The board recommended a final dividend of Rs. 1.00 per share and approved capacity expansion plans adding 1,20,000 MTPA at an investment of Rs. 20 crores. The investor presentation highlighted 10 years of listing with 28% CAGR in capacity and volume, 32% CAGR in sales and EBITDA, and 45% CAGR in PAT.

*this image is generated using AI for illustrative purposes only.
Raghav Productivity Enhancers has announced its audited financial results for the year ended March 31, 2026, reporting strong growth across revenue, profit, and operational metrics. The board has recommended a final dividend of Rs. 1.00 per equity share and approved significant capacity expansion plans. The company also released an investor presentation marking 10 years of excellence since its public listing.
Annual Financial Performance
The company delivered robust performance in FY26 with consolidated revenue reaching ₹25,921.22 lakh compared to ₹20,096.48 lakh in the previous year, representing a 29% year-on-year growth. Consolidated net profit increased to ₹5,480.30 lakh from ₹3,697.36 lakh, marking a 48% improvement. Earnings per share (basic and diluted) rose to ₹11.94 from ₹8.05 in the prior year.
| Financial Metric | FY26 | FY25 | Growth (%) |
|---|---|---|---|
| Total Revenue | ₹25,921.22 lakh | ₹20,096.48 lakh | +28.97% |
| Net Profit | ₹5,480.30 lakh | ₹3,697.36 lakh | +48.24% |
| EPS (Basic) | ₹11.94 | ₹8.05 | +48.32% |
10 Years of Listing History
The investor presentation highlights the company's journey from FY 2016 to FY 2026, showcasing consistent growth across key metrics. Over the 10-year period, the company achieved a 28% CAGR in capacity and volume, 32% CAGR in ramming mass sales and EBITDA, and 45% CAGR in profit after tax. The company's domestic market share grew from 3.5% in FY 2016 to 14% in FY 2026.
| Metric | FY 2016 | FY 2026 | 10 Year CAGR |
|---|---|---|---|
| Capacity (KMT) | 36 | 414 | 28% |
| Volume (KMT) | 29 | 332 | 28% |
| Exports Volume (KMT) | 1 | 80 | 56% |
| Ramming Mass Sales (₹ Crs.) | 20 | 254 | 32% |
| EBITDA (₹ Crs.) | 5 | 75 | 32% |
| PAT (₹ Crs.) | 1 | 55 | 45% |
Q4 Performance Highlights
For the quarter ended March 31, 2026, the company reported consolidated revenue of ₹7,066.10 lakh compared to ₹5,108.39 lakh in the corresponding quarter of the previous year, representing a 38.3% year-on-year growth. Consolidated net profit for Q4 stood at ₹1,516.18 lakh, up from ₹1,012.62 lakh in Q4 FY25. The company delivered ROCE of 28% and CFO of ₹37 crores in FY26.
Board Decisions and Strategic Initiatives
The board approved several key decisions at its meeting held on April 24, 2026. A final dividend of Rs. 1.00 per equity share of Rs. 10/- each was recommended for FY26. The board also approved the appointment of M/s Ravi Sharma & Co. as Statutory Auditor for a five-year term commencing April 1, 2026, subject to shareholder approval. Additionally, M/s RP Khandelwal & Associates were appointed as Internal Auditor for Financial Year 2026-27.
Capacity Expansion Plans
The company announced plans to undertake plant modification and renovation at both RPEL and RPSPL facilities. The proposed capacity addition of 1,20,000 MTPA will increase total capacity to 5,34,000 MTPA from the existing 4,14,000 MTPA. The expansion, requiring an investment of up to Rs. 20 crores, will be financed through internal accruals and is expected to be fully operational from October 1, 2026.
| Capacity Details | RPEL | RPSPL | Total |
|---|---|---|---|
| Existing Capacity | 1,44,000 MTPA | 2,70,000 MTPA | 4,14,000 MTPA |
| Capacity Utilization | 99% | 83% | 89% |
| Proposed Addition | 36,000 MTPA | 84,000 MTPA | 1,20,000 MTPA |
| Post-Expansion Capacity | 1,80,000 MTPA | 3,54,000 MTPA | 5,34,000 MTPA |
Global Reach and Market Position
The company has established itself as the world's largest manufacturer of silica ramming mass with a pan-India presence across 27 states and exports to 39 countries worldwide. The company is targeting to increase its market share from the current 14% to 30% through strategic initiatives including capacity expansion, multi-location manufacturing, cross-selling opportunities, customer base expansion, and product development.
ESOP Allotment
The board approved the allotment of 9,990 equity shares arising from the exercise of the second tranche of vested options under the Employee Stock Option Scheme 2018. The shares were allotted at an exercise price of Rs. 307.36 per share on April 24, 2026.
Historical Stock Returns for Raghav Productivity Enhancers
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.60% | -3.07% | +14.81% | -2.15% | +3.23% | +38.36% |
How will the planned 29% capacity increase to 534,000 MTPA impact the company's ability to achieve its target of 30% market share in the silica ramming mass industry?
What potential challenges could arise from the aggressive expansion timeline with full operations expected by October 2026, and how might supply chain or execution risks affect profitability?
Given the company's 56% export volume CAGR over 10 years, which new international markets are likely targets for expansion beyond the current 39 countries?


































