Aerospace and defence now brings in about a fifth of Raymond's total income, up from about 14% a year ago, as revenue from the business jumped 72% to ₹139 crore in the July-September quarter.
The business had revenue of ₹81 crore in the same quarter last year and ₹123 crore in the April-June quarter. Raymond called the latest figure an all-time high. Operating profit (EBITDA) from the business also rose 72% to ₹29 crore, with a margin of 21%, according to the results Raymond filed with the stock exchanges on Tuesday.
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For the company as a whole, total income rose 21% to ₹683 crore. Profit before tax and one-time items more than doubled to ₹42 crore from ₹19 crore.
Raymond said the gains came from higher production for global manufacturers, new products and a shift towards making complex subsystems in India for large international suppliers. It added that easing supply chain problems and its expanded capacity put it in a good position to deliver on a growing order book.
Chairman and Managing Director Gautam Hari Singhania said the company is "converting our robust order book into sustainable, high-margin value" for shareholders.
From fabrics to engineering
Raymond, founded in 1925, built its name in fabrics. It has since separated its lifestyle business, which began trading as Raymond Lifestyle in September 2024, and its real estate business, which was demerged with effect from May 1, 2025. What remains is an engineering company.
The route into aerospace came in November 2023, when Raymond announced it would buy a 59.25% stake in Maini Precision Products for ₹682 crore, taking it into aerospace, defence and electric vehicle components, according to a company filing.
Raymond now runs two engineering businesses. The larger one is precision technology and auto components, whose revenue rose 15% to ₹471 crore in the quarter. The company said exports of parts for hybrid vehicles helped, as did global firms looking beyond China for suppliers. Exports make up over 65% of its business, it said.
Capacity plans and fundraising
Raymond is building new plants in Andhra Pradesh, about ₹510 crore for aerospace and about ₹430 crore for precision technology and auto components, according to the company. Singhania said the facility is progressing on schedule. In the first six months of the year, Raymond spent about ₹76 crore on plant, equipment and intangible assets, nearly double the ₹39 crore a year ago, the filing shows.