Raymond Limited , a pioneer in fabric manufacturing that has diversified into engineering and real estate sectors, has announced its unaudited financial results for the quarter ended September 30, 2025 (Q2 FY26). The company demonstrated robust growth, with its core engineering businesses showing significant momentum.

Financial Highlights

Raymond Limited reported a strong financial performance for Q2 FY26:

The company's total income grew by 10% year-on-year to ₹564.00 crore, while EBITDA increased by 3% to ₹79.00 crore. However, the EBITDA margin saw a slight compression from 15.10% in Q2 FY25 to 14.10% in Q2 FY26, primarily due to a decline in other income.

Segment Performance

Aerospace & Defence Business

The Aerospace & Defence segment showed impressive growth:

• Revenue: ₹81.00 crore (15% YoY increase)
• EBITDA: ₹17.00 crore (34% YoY increase)
• EBITDA margin: 21% (up from 18% in Q2 FY25)

This performance was driven by increased production at a leading aerospace OEM and revenue contributions from newly developed parts that entered production this year.

Precision Technology & Auto Components

The Precision Technology & Auto Components segment also delivered strong results:

• Revenue: ₹409.00 crore (9.90% YoY increase)
• EBITDA: ₹57.00 crore (57.30% YoY increase)
• EBITDA margin: 13.90% (up from 9.70% in Q2 FY25)

This segment's growth was fueled by robust domestic demand for both Auto Components and Tools & Hardware components, as well as strong demand for hybrid products in European markets.

Strategic Positioning

Raymond Limited's performance reflects a positive shift in the Indian supply chain. The company is capitalizing on the trend of Indian suppliers moving up the value chain, transitioning from simple assemblies to producing highly complex precision machined components and subsystems. This has led to a surge in order intake for both Tier-1 and Tier-2 vendors in the export business.

Gautam Hari Singhania, Chairman & Managing Director of Raymond Limited, commented on the results: "Both our aerospace & defence and precision technology & auto components businesses maintained strong momentum this quarter, delivering higher sales even in a competitive environment. We continue to focus on strategic business expansion. With both subsidiaries demonstrating robust performance, we are ideally positioned to seize upcoming opportunities and drive sustained stakeholder value."

Future Outlook

The company's strong performance provides a solid foundation for future growth. Raymond Limited is seeing increased interest from potential clients through Requests for Quotation (RFQs) and is exploring new collaborative opportunities. However, the outlook is tempered by external trade pressures, particularly U.S. tariffs, which are resulting in some scheduling delays.

Raymond Limited continues to expand into new international geographies and industrial sectors. The company is observing business momentum across domestic and international markets, supported by the China-plus-one strategy, integration synergies, and focused operational efficiencies across all segments.

Financial Position

Notably, Raymond Limited maintains a strong financial position, remaining net-debt free with a net cash surplus of ₹27.00 crore as of Q2 FY26.

In conclusion, Raymond Limited's Q2 FY26 results demonstrate the company's successful transition into a diversified engineering-focused entity. With its strong performance in the Aerospace & Defence and Precision Technology & Auto Components segments, Raymond is well-positioned to capitalize on the growing demand for high-precision engineering solutions in both domestic and international markets.

Raymond Limited , a diversified conglomerate with interests in engineering and aerospace, has reported a 10% year-on-year growth in total income for the second quarter of fiscal year 2026. The company's financial results, released on October 27, 2025, showcase resilience in its core businesses despite facing margin pressures.

Financial Highlights

Raymond Limited posted a total income of ₹564.00 crore in Q2 FY26, up from ₹512.00 crore in the same quarter last year. The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) grew by 3% to ₹79.00 crore, compared to ₹77.00 crore in Q2 FY25. However, the EBITDA margin contracted slightly to 14.10% from 15.10% in the previous year.

*PBT: Profit Before Tax (before exceptional items)

The company's profit before tax (before exceptional items) decreased by 20% to ₹19.00 crore, down from ₹24.00 crore in the corresponding quarter of the previous year. This decline in profitability was primarily attributed to a reduction in other income.

Segment Performance

Aerospace & Defence Business

The Aerospace & Defence segment demonstrated strong growth:

• Revenue increased by 15% to ₹81.00 crore (Q2 FY25: ₹70.00 crore)
• EBITDA surged by 34% to ₹17.00 crore (Q2 FY25: ₹13.00 crore)
• EBITDA margin improved to 21% (Q2 FY25: 18%)

This performance was driven by production ramp-up at a leading aerospace OEM and revenue contributions from newly developed and approved parts that entered production this year.

Precision Technology & Auto Components

The Precision Technology & Auto Components segment also showed positive results:

• Revenue grew by 9.90% to ₹409.00 crore (Q2 FY25: ₹373.00 crore)
• EBITDA increased significantly by 57.30% to ₹57.00 crore (Q2 FY25: ₹36.00 crore)
• EBITDA margin expanded to 13.90% (Q2 FY25: 9.70%)

This segment's growth was fueled by robust domestic demand for both Auto Components and Tools & Hardware components, as well as strong demand for hybrid products in European markets.

Management Commentary

Gautam Hari Singhania, Chairman & Managing Director of Raymond Limited, commented on the performance: "Both our aerospace & defence and precision technology & auto components businesses maintained strong momentum this quarter, delivering higher sales even in a competitive environment. We continue to focus on strategic business expansion. With both subsidiaries demonstrating robust performance, we are ideally positioned to seize upcoming opportunities and drive sustained stakeholder value."

Future Outlook

While the company's performance has been strong, it faces some challenges:

1. The outlook for the Aerospace & Defence segment is tempered by external trade pressures, particularly U.S. tariffs, resulting in scheduling delays.
2. The Tools & Hardware components business within the Precision Technology & Auto Components segment experienced softness in export markets.

Despite these challenges, Raymond Limited continues to pursue its strategy of expanding into new international geographies and industrial sectors. The company is observing business momentum across domestic and international markets, supported by the China-plus-one strategy, integration synergies, and focused operational efficiencies across all segments.

Financial Position

Raymond Limited maintains a strong financial position, remaining net debt-free with a net cash surplus of ₹27.00 crore as of the end of Q2 FY26.

In conclusion, Raymond Limited's Q2 FY26 results demonstrate the company's ability to grow revenue and maintain profitability in a challenging environment. The diversified nature of its businesses, particularly the strong performance in Aerospace & Defence and Precision Technology & Auto Components segments, positions the company well for future growth. However, investors should monitor the impact of external factors such as trade pressures and export market dynamics on the company's performance in the coming quarters.