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What is the story about?
Raymond Ltd. is nearing an acquisition in the aerospace business and is in talks to buy German engineering player Deharde, people in the know told CNBC-TV18 on Tuesday, June 23.
Raymond's recent ₹330 crore preferential issue had earmarked ₹248 crore for acquisitions. The company had identified sectors such as aerospace and space tech for acquisitions.
Deharde is a German precision engineering and manufacturing company. Airbus and Boeing are its most prominent clients.
Raymond told CNBC-TV18 that it is not commenting on market speculation. Deharde had not responded to CNBC-TV18's query till the time of publishing.
On another note, Raymond reported an 8.2% revenue growth in the March quarter to ₹603 crore from ₹557.2 crore in the previous year. Its earnings before interest, tax, depreciation and amortization (EBITDA) increased 26.2% to ₹75.7 crore from the previous year.
The company's EBITDA margin expanded by 200 basis points from the year-ago period. It remains net-debt free as it ended the fiscal with a net cash surplus of ₹68 crore.
Shares of Raymond Ltd. were trading 1.3% lower at ₹592.65 apiece at 1.45 pm on Tuesday. The stock has gained 6.3% in the past month and 39.6% this year, so far.
Also Read: Tech Mahindra shares fall as Citi retains caution, says FY27 execution key for further outperformance
Raymond's recent ₹330 crore preferential issue had earmarked ₹248 crore for acquisitions. The company had identified sectors such as aerospace and space tech for acquisitions.
Deharde is a German precision engineering and manufacturing company. Airbus and Boeing are its most prominent clients.
Raymond told CNBC-TV18 that it is not commenting on market speculation. Deharde had not responded to CNBC-TV18's query till the time of publishing.
On another note, Raymond reported an 8.2% revenue growth in the March quarter to ₹603 crore from ₹557.2 crore in the previous year. Its earnings before interest, tax, depreciation and amortization (EBITDA) increased 26.2% to ₹75.7 crore from the previous year.
The company's EBITDA margin expanded by 200 basis points from the year-ago period. It remains net-debt free as it ended the fiscal with a net cash surplus of ₹68 crore.
Shares of Raymond Ltd. were trading 1.3% lower at ₹592.65 apiece at 1.45 pm on Tuesday. The stock has gained 6.3% in the past month and 39.6% this year, so far.
Also Read: Tech Mahindra shares fall as Citi retains caution, says FY27 execution key for further outperformance
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