Ratnaveer Precision Engineering Limited has released the transcript of its earnings call conducted on May 14, 2026. The call covered the audited standalone and consolidated financial results for the fourth quarter and financial year ended March 31, 2026. The disclosure was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Strategic Outlook and CCL Project

During the call, Managing Director Vijay Sanghavi outlined the company's strategic roadmap, highlighting the upcoming Copper Clad Laminate (CCL) project. The company has tied up with a Chinese technology partner for the project, which aims to substitute 100% imports of CCL, a raw material for the PCB industry. The management stated that the first line of production is scheduled to commence by November 2026, with civil work and machinery installation currently in progress. The project has received approval of ₹338 crore under the ECMS scheme from the Central Government and incentives from the Gujarat government.

Financial Guidance and Fundraising

The management provided a revenue target of ₹2,500 crore over the next three years, combining the existing stainless steel business and the new CCL venture. The existing business is projected to grow from ₹1,078 crore in FY26 to ₹1,800 crore with a 25% CAGR, while the CCL business is expected to contribute ₹750 crore. To fund the CCL project, estimated to require a total investment of approximately ₹650 crore, the company plans to raise ₹330 crore through a QIP or equivalent instruments by September 2026. Additionally, the company expects to receive promoter infusion of ₹115 crore through warrants.

Operational Performance

Addressing operational queries, the management noted that the company serves diverse industries including railways, defense, aerospace, and pharmaceuticals. They reported a strong order book position and stated that the company has not been significantly impacted by recent global geopolitical situations. The management also clarified that the effective tax rate is expected to remain in the range of 13% to 15%.

Ratnaveer Precision Engineering Limited held its Board of Directors meeting on May 12, 2026, wherein the board approved the Standalone and Consolidated Audited Financial Results for the quarter and financial year ended March 31, 2026. In addition to the financial results, the board also approved the allotment of 34,31,446 equity shares to promoters upon conversion of warrants. The meeting commenced at 03:00 PM (IST) and concluded at 05:30 PM (IST), with the filing made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Separately, the company filed a declaration on May 12, 2026, pursuant to Regulation 33(3)(d) of the SEBI (LODR) Regulations, 2015, confirming that the statutory auditors, M/s. Pankaj R. Shah & Associates (FRN: 107361W), Ahmedabad, issued an unmodified audit opinion on the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026. Subsequently, pursuant to Regulations 30 and 47 of the SEBI (LODR) Regulations, 2015, the company published a newspaper advertisement for its audited financial results in the Financial Express (both English and vernacular editions) on May 14, 2026.

Financial Performance: Q4 & FY26

Ratnaveer Precision Engineering reported a strong improvement in financial performance for both the quarter and the full year ended March 31, 2026. Q4 net profit rose to Rs 170.33 Mn from Rs 107.14 Mn in the same quarter of the previous year, while full-year net profit grew 37% to Rs 643.05 Mn. Q4 EBITDA rose to Rs 283 Mn from Rs 167 Mn year-on-year, with the EBITDA margin expanding significantly to 11.37% from 8.24% YoY, reflecting improved operational efficiency. The following table presents the key standalone (and consolidated, which are identical) financial highlights:

The audited financial results were reviewed and recommended by the Audit Committee and approved by the Board of Directors in their respective meetings held on May 12, 2026. The results were audited by M/s. Pankaj Shah & Associates, Chartered Accountants (Registration No.: 107361W), who issued an unmodified opinion stating that the financial results give a true and fair view in conformity with Indian Accounting Standards.

Segment-wise Performance

The company operates across domestic and international segments. The following table presents the segment-wise revenue and profitability:

Balance Sheet Highlights

The standalone balance sheet as at March 31, 2026, reflects a significant expansion in the company's asset base and equity position compared to the previous year. Key balance sheet metrics are presented below:

Warrant Conversion and Promoter Share Allotment

The board also approved the allotment of equity shares on conversion of warrants to promoters on a preferential basis. A total of 34,31,446 warrants were converted into 34,31,446 equity shares at an issue price of ₹159.25/- per share (including a premium of ₹149.25/-). The aggregate amount received from allottees, representing the remaining 75% of the issue price per warrant, stood at ₹40,98,43,332/-. The details of the allotment are as follows:

Post conversion, the Issued, Subscribed and Paid-up Equity Share Capital of the company stands increased to ₹71,42,66,810/-, consisting of 7,14,26,681 fully paid-up equity shares of ₹10/- each. The new equity shares rank pari-passu with the existing equity shares of the company. The post-allotment shareholding of Vijay Ramanlal Sanghavi stands at 30,636,467 shares (42.89%), while Seema Vijay Sanghavi holds 1,853,283 shares (2.59%).

Cash Flow Summary

The standalone cash flow statement for the year ended March 31, 2026, reflects the following key movements:

Upcoming Earnings Call

Following the board meeting, Ratnaveer Precision Engineering has scheduled a Q4 & FY26 investor-company connect earnings call on May 14, 2026, at 4:00 PM (IST), organized in association with FINPORTAL. The company has clarified that no Unpublished Price Sensitive Information (UPSI) is proposed to be shared during the meeting. The following representatives are scheduled to speak:

A copy of the latest presentation used in the meeting will be uploaded on the company's official website at www.ratnaveer.com . The Trading Window for dealing in the securities of Ratnaveer Precision Engineering Limited will continue to remain closed until the expiry of 48 hours after the declaration of the audited financial results for the quarter ended March 31, 2026. All filings were signed by Vijay Ramanlal Sanghavi, Managing Director & CFO (DIN: 00495922), and addressed to both the National Stock Exchange of India Limited and BSE Limited.