Raymond shares to remain in focus as aerospace arm wins orders

According to fresh market updates, Raymond shares are likely to stay in focus in trade on Tuesday after the firm stated its subsidiary has won multi-programme aerospace orders from a leading Indian aerospace and defence major.

The firm made the announcement after market hours on Friday. With the markets closed on Monday, the firm's shares are likely to stay in focus on Tuesday.

In an exchange filing, the firm stated the programmes span precision machining, aerospace castings, structural components and complex assemblies, with an annual business potential of approximately Rs 33 crore.

Commenting on the development, Rakesh Tiwary, Group Chief Financial Officer, Raymond Ltd, stated the order win is aligned with the firm's product mix optimisation strategy and will strengthen its multi-year aerospace order pipeline.

He stated the award win reaffirms Raymond's manufacturing capabilities across machining, castings, structures and assemblies, rather than at a single stage of the value chain. This raises the firm's capture rate per programme and improves the quality of its multi-year backlog, he further noted.

The orders additionally broaden the firm's customer base into India's domestic aerospace ecosystem, a business that has so far been predominantly export-led, Tiwary stated.

He further noted that the new orders further strengthen the firm's multi-year aerospace order pipeline and reinforce its strategy of building a scaled, high-precision aerospace and defence manufacturing platform in India.

Shares of Raymond settled more than 17 percent elevated at Rs 1,002.80 per share on the NSE in Friday's trade.