Mumbai: Raymond Ltd reported a 52 percent year-on-year decline in consolidated net profit to Rupees12 crore for the fourth quarter ended March 31, 2026, even as revenue from operations rose to Rupees603 crore. The company had posted a profit of Rupees 25 crore in Q4 FY25 and Rupees 7 crore in Q3 FY26. Total income for the quarter stood at Rupees 613 crore against Rupees 601 crore a year earlier, reflecting steady top-line growth amid pressure on margins and profitability.
Higher Depreciation & Interest Expenses
The engineering-focused business reported EBITDA of Rupees 85 crore in Q4 FY26 compared with Rupees 99 crore in the corresponding quarter last year, while EBITDA margin narrowed to 13.9 percent from 16.4 percent. Profit before tax before exceptional items declined 43 percent year-on-year to Rupees 25 crore from Rupees 45 crore. Higher depreciation and interest expenses also weighed on earnings during the quarter. Depreciation stood at Rupees 37 crore, while finance costs rose to Rupees 23 crore from Rupees 17 crore a year ago.
Revenue From Operations & EBITDA
Sequentially, Raymond’s revenue from operations increased 8.3 percent from Rupees 557 crore in Q3 FY26, while net profit improved from Rupees 7 crore reported in the previous quarter. EBITDA remained largely stable at Rupees 85 crore compared with Rupees 83 crore in Q3 FY26. The company recorded exceptional losses of Rupees 20 crore during the quarter against Rupees 14 crore in the preceding quarter. Management also noted that FY26 included a one-time gain of around Rupees 13 crore from sale of land in Q2 FY26, which supported annual profitability.
For the full financial year FY26, Raymond reported revenue from operations of Rupees 2,212 crore, up from Rupees 1,947 crore in FY25. Total income increased 10 percent year-on-year to Rupees 2,312 crore, while annual net profit rose marginally to Rupees 53 crore from Rupees 52 crore. EBITDA for FY26 remained flat at Rupees 335 crore, with EBITDA margin moderating to 14.5 percent from 15.9 percent in FY25.
Engineering Businesses Support Annual Growth
The Precision Technology & Auto Components business posted 10 percent annual revenue growth to Rupees 1,667 crore, while the Aerospace & Defence segment recorded a stronger 26 percent rise in revenue to Rupees 392 crore during FY26. Raymond said it remains in a net cash surplus position of Rupees 613 crore.
Disclaimer: This article is based on Raymond’s Q4 FY26 investor presentation and is not investment advice or a complete analysis of the company’s financial performance.
