| FY26: THE “RAYMOND 2.0” RESET + PRECISION ENGINEERING

🚨 RAYMOND LIMITED | FY26: THE “RAYMOND 2.0” RESET + PRECISION ENGINEERING + AEROSPACE & EV PLAY Raymond Limited has entered a fundamentally different phase after the demerger of its Lifestyle and Realty businesses. What remains is a much more focused company built around precision engineering, automotive components, aerospace and defence technology. The key question now:

Can Raymond convert this strategic restructuring into sustained high-quality growth? 🔥 THE BIGGEST CHANGE: PURE-PLAY STRUCTURE The demerger created three separately focused businesses: 👔 Raymond Lifestyle — crossed ₹7,034 Cr revenue 🏗️ Raymond Realty — crossed ₹3,000 Cr revenue with a ₹42,000+ Cr GDV pipeline ⚙️ Raymond Limited — now focused on precision technology, aerospace and defence This creates clearer business accountability and more focused capital allocation. 📊 FY26 CONSOLIDATED NUMBERS 🔹 Revenue: ₹2,312 Cr | +10% YoY 🔹 EBITDA: ₹335 Cr 🔹 EBITDA Margin: 14.5% 🔹 PAT: ₹53.54 Cr The engineering business is increasingly becoming the core identity of the company. ⚙️ PRECISION ENGINEERING: THE NEW CORE JK Maini Precision Technology Ltd. (JKMPTL) generated ! This makes execution and utilisation key monitorables for FY27–28. 🌍 CHINA + ONE = STRUCTURAL TAILWIND Raymond is positioned around several long-term themes: 🇮🇳 India manufacturing 🌎 China + One supply-chain diversification 🛡️ Defence indigenisation ✈️ Aerospace localisation ⚡ EV & hybrid transition 🤝 Global OEM outsourcing 1️⃣ Precision engineering 2️⃣ Aerospace & defence 3️⃣ EV & hybrid components 4️⃣ Export-oriented manufacturing 5️⃣ India + China Plus One supply-chain opportunities — Neha Gupta | SEBI Registered Research Analyst Registration No.: INH000016542 ⚠️ For educational and research purposes only. Not investment advice. Investors should conduct their own research and assess all risks independently.