Raymond Q2 Results: Net profit more than doubles as aerospace revenue jumps 72%

Textiles and apparel company Raymond Ltd on Tuesday (October 27) reported a sharp rise in net profit to ₹32 crore for the second quarter, compared with ₹13.9 crore in the year-ago period.

Revenue grew 24.1% year-on-year (YoY) to ₹655 crore from ₹527.7 crore in the corresponding quarter last year. Raymond remains net-debt-free, with a net cash surplus of ₹77 crore as of September 2026.

Earnings before interest, tax, depreciation and amortisation (EBITDA) increased 74.4% YoY to ₹75 crore, compared with ₹43 crore a year ago. EBITDA margin expanded by 336 basis points to 11.5% from 8.14% in the year-ago quarter.

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Raymond Ltd’s Aerospace & Defence business reported an all-time high revenue of ₹139 crore in the second quarter of FY2027, registering a 72% year-on-year (YoY) growth compared with ₹81 crore in the corresponding quarter of FY2026. Earnings before interest, tax, depreciation and amortisation (EBITDA) also rose 72% to ₹29 crore from ₹17 crore a year ago, while the EBITDA margin stood at 21%.

The performance was driven by increased production for leading global original equipment manufacturers (OEMs) and additions to the product portfolio. With supply chain headwinds easing and expanded operational capacity fully online, the company said it is positioned to execute its growing multi-year order book.

Raymond continues to expand its presence in the high-precision aerospace sector, backed by an ongoing greenfield capacity expansion of around ₹510 crore in Andhra Pradesh and advanced engineering infrastructure.

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The Precision Technology & Auto Components business

generated revenue of ₹471 crore in Q2 FY2027, marking a 15% YoY increase from ₹409 crore in the year-ago quarter. The performance was supported by domestic market demand and continued export deliveries against long-term OEM schedules.

EBITDA for the segment grew 39% on a like-for-like basis to ₹61 crore from ₹44 crore in Q2 FY2026, excluding a one-time gain of around ₹13 crore in the year-ago period. The EBITDA margin stood at 13%, supported by higher volumes and targeted cost optimisation initiatives.

Raymond said it continues to capitalise on opportunities arising from the China Plus One strategy by expanding its global presence, entering adjacent industrial and defence sectors, and foraying into the automotive aftermarket.

The company is undertaking a greenfield manufacturing expansion of around ₹430 crore in Andhra Pradesh, alongside brownfield capacity expansion, to support growth in domestic and international markets.

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"This strong performance was anchored by the Aerospace & Defence and Precision Technology & Auto Components divisions. In the Aerospace division, we capitalised 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," it said.

Gautam Hari Singhania, Chairman and Managing Director, Raymond Limited said, "Our strong double-digit growth across Q2 and H1 FY27 highlights the compounding momentum of our pure-play engineering platform.

Driven by exceptional execution in our Aerospace & Defence and Precision Technology segments, and with our Andhra Pradesh facility progressing firmly on schedule, we are consistently converting our robust order book into sustainable, high-margin value for our shareholders."

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Shares of Raymond Ltd ended at ₹1,079.10, up by ₹26.95, or 2.56%, on the BSE.