RAYMOND LTD.

Raymond Limited's Board of Directors convened on August 7, 2026, to approve the Unaudited Financial Results (Standalone and Consolidated) for the First Quarter ended June 30, 2026. The meeting, which lasted from 2:00 p.m. to 3:50 p.m., also saw the review and approval of the Statutory Auditors' Limited Review Report and a related Press Release. The financial results were prepared in accordance with Indian Accounting Standard 34 and other generally accepted accounting principles. Price Waterhouse Chartered Accountants LLP conducted the review, confirming no material misstatements were found.

Raymond Limited's consolidated (primary) Q1 FY27 results show revenue from operations of ₹605.61 Cr (total income ₹628.10 Cr) and PAT of ₹30.85 Cr. On a reported basis PAT is down ~99% YoY, but that comparison is meaningless: the year-ago quarter's ₹5,328.15 Cr PAT included a ₹5,307.53 Cr one-off gain on the demerger of the Realty business, booked under discontinued operations. Stripping that out, continuing-operations PAT was ₹20.62 Cr in Q1 FY26, so the adjusted YoY PAT growth is ~+50%, on revenue growth of 15.5% YoY (605.61 vs 524.29) and 0.4% QoQ (605.61 vs 602.91). Standalone, now essentially a holding entity post the engineering-subsidiary restructuring, posted a token PAT of ₹1.69 Cr on ₹0.80 Cr of operating revenue — all the operating profit sits at the consolidated/subsidiary level. Margins expanded on both cuts: group EBITDA of ₹100 Cr carried a 15.9% margin, up from 13.9% in Q4 FY26 and 15.7% a year ago. The expansion was driven almost entirely by Precision Technology & Auto Components, where EBITDA margin jumped to 13.8% from 10.6% YoY (EBITDA +45.5% to ₹61 Cr) on export volume growth, better product mix and operating leverage, even as revenue grew a more modest 11.5% to ₹444 Cr. Aerospace & Defence revenue rose 40.4% YoY to ₹123 Cr and EBITDA grew 25.4% to ₹26 Cr, but segment margin compressed to 21.2% from 23.7% — management attributes this to targeted R&D spend to capture the revenue ramp, and says margins will stabilize as programs reach steady state; that claim is unverified pending next quarter's print. Against the prior concall's guidance of 25% YoY growth in the Aerospace business, the actual 40.4% YoY growth is a clear beat, and the press release reiterates the ₹930 Cr Andhra Pradesh greenfield capex plan is "strictly on schedule." We found no specific street/consensus estimates published for this entity (distinct from the separately-listed Raymond Lifestyle and Raymond Realty, which did have previews) ahead of this print, so vsStreet is unknown. Management's own framing — a "healthy" quarter anchored by Aerospace/Defence and Precision Technology, per Chairman Gautam Hari Singhania — is consistent with the numbers: EBITDA and PAT both grew faster than revenue, evidencing operating leverage rather than just topline momentum. The quarter also saw two CEO/leadership appointments in the Aerospace vertical (Bhanu Prakash Srivastava as CEO-Defence, Deepal Shah as President-Strategy) and a new five-year statutory auditor (Price Waterhouse), alongside SEBI in-principle approval for a preferential warrant issue. Subsequent to quarter-end, the company allotted 66.57 lakh convertible warrants to promoter entity JK Investors at ₹497 each, receiving ₹82.72 Cr upfront (25% of issue price) — a promoter-backed capital infusion that, combined with the company's ₹129 Cr net cash surplus, funds the ongoing Aerospace capacity buildout without added leverage. The next print will be the first real test of whether Aerospace margins recover toward the 23-24% band as R&D spend normalizes.

Raymond Ltd has announced that its Board of Directors will convene on Friday, August 7, 2026. The primary agenda for this meeting is to consider and approve the Unaudited Financial Results, both standalone and consolidated, for the quarter that ended on June 30, 2026. Concurrently, the company has informed that its trading window for designated persons and their immediate relatives will remain closed until 48 hours after the declaration of these financial results, in compliance with SEBI regulations.

Raymond Ltd has announced the appointment of Mr. Deepal Shah as President - Strategy & Special Projects, effective July 31, 2026. Mr. Shah is a Chartered Accountant with advanced management qualifications and over two decades of leadership experience in business and finance, including CEO and CFO roles. His expertise spans global IT transformation, large-scale acquisitions, and mergers, making him well-suited to drive group-wide strategic initiatives. He has previously held positions at All Cargo, DHL, and ITC Group.

Raymond Ltd announced at its 101st Annual General Meeting (AGM) held on July 14, 2026, the appointment of M/s. Price Waterhouse Chartered Accountants LLP as its new Statutory Auditors. This appointment is for a term of five consecutive years, commencing from the conclusion of the 101st AGM until the conclusion of the 106th AGM. Consequently, M/s. Chaturvedi & Shah LLP, who were appointed to fill a casual vacancy, have ceased to hold office. The change is in compliance with Regulation 30 of the SEBI Listing Regulations.

Raymond Ltd has approved the allotment of 66,57,373 convertible warrants to JK Investors (Bombay) Limited on a private placement basis. Each warrant is convertible into one equity share at ₹497, with an upfront payment of 25% of the issue price received. The allotment increases JK Investors' post-issue shareholding to 35.91% on a fully diluted basis. The paid-up share capital remains unchanged until warrant conversion.

Raymond Ltd has received in-principle approval from both BSE Limited and the National Stock Exchange of India Limited for its preferential issue of 66,57,373 convertible warrants. These warrants are convertible into equity shares at a price not less than ₹497 per share, primarily to promoters. The exchanges have granted this approval subject to strict compliance with various SEBI regulations, including the ICDR and LODR Regulations. Raymond is advised to strengthen internal controls and obtain undertakings from allottees to prevent non-compliance, particularly regarding intra-day trading and pre-allotment sales. Failure to comply may impact the listing of the shares.

Raymond Ltd has announced the appointment of Mr. Bhanu Prakash Srivastava as the CEO of its Defense Business. This appointment is effective from July 06, 2026, and Mr. Srivastava has been classified as Senior Management Personnel (SMP) of the company. He brings over four decades of experience from Bharat Electronics Limited, where he held various senior leadership roles and contributed to significant business growth and profitability in defense-related sectors. His expertise spans manufacturing, project management, quality management, and product development. The company has also confirmed that this information is available on its website.

Raymond Limited announced the appointment of Bhanu Prakash Srivastava as Chief Executive Officer – Defence, effective July 6, 2026. Srivastava, former CMD of Bharat Electronics Limited (BEL), brings nearly four decades of experience in defence technologies and program execution. He will lead Raymond's strategic expansion into India's defence and aerospace sector, focusing on advanced defence technologies, systems integration, and indigenous manufacturing. At BEL, Srivastava was instrumental in tripling market capitalization, securing significant orders, and launching numerous products. Raymond aims to leverage its manufacturing strengths to contribute to India's 'Atmanirbhar Bharat' initiative in defence.

Raymond Ltd has issued a clarification regarding its Extra Ordinary General Meeting (EGM) notice concerning a preferential issue of securities. The company is updating specific details related to the floor price determination and the pre- and post-issue shareholding patterns on a fully diluted basis. These updates are in response to queries from stock exchanges as part of the approval process for the preferential issue of share warrants. The EGM held on June 18, 2026, had already approved the issue with the requisite majority. The revised shareholding pattern reflects the potential impact of the new warrants and outstanding Employee Stock Options.