RAYMOND

Raymond Limited

Engineering business and MMR residential developer

Industrials›Capital Goods›Industrial Manufacturing›Industrial Products

raymond.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹1133.90
Market cap
7,556 Cr
Stock P/E
203.8
P/B
2.65
Dividend yield
0.0%
ROE (FY26)
171.3%
ROCE (FY26)
130.0%
Operating margin (FY26)
3.8%
Debt / equity (FY26)
0.35
OCF / EBITDA (FY26)
17.8%
OCF / EBITDA (3Y)
47.0%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Raymond (Raymond Limited) makes precision-engineered aerospace components, automotive and industrial precision components, and tools and hardware, selling mainly to global aerospace OEMs and Tier 1 buyers.

Company snapshot

12thBy market cap

Ranked among 69 companies in Industrial Products.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 51.1% of revenue

SegmentRevenue shareRevenuePBTAssets
Auto components
9.6%
91 Cr11 Cr239 Cr
Others
3.4%
33 Cr-3 Cr95 Cr
Precision
24.7%
235 Cr11 Cr1,814 Cr
Real estate and development of property
51.1%
488 Cr113 Cr2,575 Cr
Tools and hardware
11.2%
107 Cr2 Cr215 Cr

What we see

Positives
  • ✓Net margin of 242.4% — the business keeps a healthy share of every rupee it earns.
Concerns
  • ✗Only 47% of operating profit came in as cash over the last three years — much of it is tied up in unpaid bills or stock.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales2,253 Cr2,386 Cr2,609 Cr938 Cr1,045 Cr954 Cr557 Cr524 Cr528 Cr557 Cr603 Cr606 Cr
Operating expenses (approx.)1,939 Cr2,024 Cr2,173 Cr836 Cr929 Cr816 Cr503 Cr468 Cr484 Cr497 Cr527 Cr528 Cr
EBITDA315 Cr362 Cr436 Cr101 Cr116 Cr138 Cr55 Cr56 Cr43 Cr60 Cr75 Cr77 Cr
OPM %14.0%15.2%16.7%10.8%11.1%14.5%9.8%10.7%8.2%10.8%12.5%12.8%
Other income67 Cr64 Cr80 Cr61 Cr56 Cr31 Cr44 Cr31 Cr36 Cr23 Cr10 Cr22 Cr
Interest89 Cr104 Cr104 Cr31 Cr29 Cr28 Cr17 Cr19 Cr22 Cr21 Cr23 Cr20 Cr
Depreciation65 Cr70 Cr88 Cr39 Cr40 Cr42 Cr37 Cr39 Cr38 Cr38 Cr37 Cr38 Cr
Profit before tax212 Cr248 Cr312 Cr7,372 Cr89 Cr92 Cr188 Cr5,402 Cr-148 Cr10 Cr4 Cr41 Cr
Tax %23.9%25.2%26.4%0.1%33.7%21.5%27.0%1.4%109.4%29.8%-185.4%25.4%
Net profit161 Cr185 Cr230 Cr7,367 Cr59 Cr72 Cr137 Cr5,328 Cr14 Cr7 Cr12 Cr31 Cr
EPS (₹)₹24.01₹27.57₹34.45₹1106.88₹9.02₹10.84₹19.95₹800.16₹1.71₹0.54₹0.17₹3.15

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales5,391 Cr5,906 Cr6,582 Cr6,482 Cr3,446 Cr6,179 Cr8,215 Cr9,020 Cr1,947 Cr2,212 CrSign in free for the trailing twelve months
Operating expenses (approx.)5,087 Cr5,479 Cr6,006 Cr5,967 Cr3,513 Cr5,467 Cr7,015 Cr7,710 Cr1,770 Cr1,977 CrSign in free for the trailing twelve months
EBITDA305 Cr428 Cr577 Cr516 Cr-66 Cr711 Cr1,199 Cr1,309 Cr176 Cr235 CrSign in free for the trailing twelve months
OPM %5.7%7.2%8.8%8.0%-1.9%11.5%14.6%14.5%9.1%10.6%Sign in free for the trailing twelve months
Other income118 Cr118 Cr125 Cr96 Cr201 Cr169 Cr122 Cr266 Cr158 Cr100 CrSign in free for the trailing twelve months
Interest178 Cr184 Cr233 Cr303 Cr276 Cr228 Cr257 Cr376 Cr65 Cr84 CrSign in free for the trailing twelve months
Depreciation157 Cr170 Cr197 Cr340 Cr314 Cr240 Cr235 Cr284 Cr146 Cr152 CrSign in free for the trailing twelve months
Profit before tax52 Cr208 Cr260 Cr159 Cr-465 Cr243 Cr737 Cr1,866 Cr7,742 Cr5,268 CrSign in free for the trailing twelve months
Tax %42.1%32.0%32.9%-27.0%34.6%-9.0%27.2%-11.9%1.4%-1.8%Sign in free for the trailing twelve months
Net profit30 Cr142 Cr175 Cr202 Cr-304 Cr265 Cr537 Cr2,088 Cr7,636 Cr5,361 CrSign in free for the trailing twelve months
EPS (₹)₹4.16₹21.93₹27.37₹31.44₹-44.63₹39.11₹79.45₹246.07₹1146.69₹802.31Sign in free for the trailing twelve months
Dividend payout %—————3.6%3.7%1.0%0.9%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital61 Cr61 Cr61 Cr65 Cr67 Cr67 Cr67 Cr67 Cr67 Cr67 Cr
Reserves1,612 Cr1,751 Cr1,892 Cr2,311 Cr2,031 Cr2,293 Cr2,832 Cr4,551 Cr3,650 Cr2,777 Cr
Borrowings1,767 Cr1,814 Cr2,143 Cr2,173 Cr1,894 Cr2,066 Cr2,127 Cr3,426 Cr740 Cr999 Cr
Other liabilities1,743 Cr2,407 Cr2,485 Cr3,110 Cr2,667 Cr2,874 Cr3,083 Cr4,692 Cr2,818 Cr622 Cr
Total liabilities5,252 Cr6,109 Cr6,664 Cr7,747 Cr6,740 Cr7,377 Cr8,194 Cr13,173 Cr7,716 Cr4,738 Cr
Fixed assets (net)1,155 Cr1,677 Cr1,921 Cr2,421 Cr2,036 Cr1,874 Cr1,931 Cr2,549 Cr890 Cr841 Cr
CWIP412 Cr270 Cr113 Cr35 Cr16 Cr20 Cr30 Cr70 Cr5 Cr38 Cr
Investments641 Cr636 Cr540 Cr598 Cr500 Cr1,100 Cr1,639 Cr2,826 Cr1,120 Cr1,695 Cr
Loans & advances——85 Cr11 Cr10 Cr26 Cr18 Cr25 Cr28 Cr27 Cr
Inventories1,289 Cr1,611 Cr1,902 Cr2,201 Cr1,634 Cr2,011 Cr2,497 Cr3,514 Cr419 Cr487 Cr
Trade receivables1,051 Cr1,086 Cr1,260 Cr1,159 Cr958 Cr873 Cr744 Cr1,407 Cr406 Cr521 Cr
Cash & bank38 Cr45 Cr21 Cr133 Cr234 Cr163 Cr172 Cr182 Cr34 Cr135 Cr
Other assets667 Cr783 Cr823 Cr1,189 Cr1,352 Cr1,311 Cr1,164 Cr2,599 Cr4,815 Cr994 Cr
Total assets5,252 Cr6,109 Cr6,664 Cr7,747 Cr6,740 Cr7,377 Cr8,194 Cr13,173 Cr7,716 Cr4,738 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity348 Cr395 Cr251 Cr373 Cr702 Cr677 Cr804 Cr533 Cr233 Cr42 Cr
Cash from investing-220 Cr-408 Cr-123 Cr-119 Cr64 Cr-425 Cr-476 Cr-1,042 Cr-232 Cr-180 Cr
Cash from financing-122 Cr30 Cr-149 Cr-130 Cr-668 Cr-323 Cr-319 Cr502 Cr-104 Cr230 Cr
Net cash flow3 Cr9 Cr-25 Cr113 Cr100 Cr-71 Cr10 Cr-6 Cr-102 Cr91 Cr
Free cash flow (OCF − Capex)55 Cr-123 Cr-11 Cr163 Cr681 Cr617 Cr688 Cr326 Cr75 Cr-72 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %6.5%10.6%11.8%10.0%-4.6%10.5%19.5%26.4%159.4%130.0%
ROE %1.5%7.1%8.2%8.0%-13.6%10.7%17.7%41.3%183.6%171.3%
Debtor days716770651015133577686
Inventory days422476557650866617539828220238
Days payable253333396415617527365486133168
Cash conversion cycle240210231300350142207398163155
OCF / EBITDA %114.2%92.2%43.5%72.3%—95.3%67.1%40.7%132.2%17.8%
OCF / EBITDA % (3 years)——75.9%67.0%129.1%151.0%118.4%62.6%58.5%47.0%
Debt / equity1.061.001.100.910.900.880.730.740.200.35
Current ratio1.061.000.991.051.271.301.351.662.121.73
Net debt / EBITDA5.674.133.683.95—2.681.632.484.003.68