| ₹ crore | Q2 FY27 | Q2 FY26 | Change |
|---|---|---|---|
| Revenue | 655 | 528 | +24.2% |
| EBITDA | 75.3 | 43.3 | +74.1% |
| EBITDA margin | 11.5% | 8.2% | +3.3 pts |
| Profit before tax | 42.0 | −148 | — |
| Net profit | 32.1 | 13.9 | +130.8% |
| EPS | ₹3.36 | ₹1.71 | +96.5% |
Amounts on the left scale in ₹ crore; per cent on the right, dashed. L = lakh crore, K = thousand crore. Touch the chart to read any period.
| Tap a line for its trend | Currentlast 12M | FY26Mar 2026 | FY25Mar 2025 | FY24Mar 2024 | FY23Mar 2023 | FY22 and earlierAlpha Plus |
|---|
| 7,333 | — | — | — | — | FY22 and earlierEvery year the company has filed comes with Alpha Plus. | |
| 290 | 640 | 507 | 1,255 | 1,057 | ||
| 293 | 274 | 441 | 438 | 85.0 | ||
| 999 | 999 | 740 | 3,426 | 2,127 | ||
| 8,335 | — | — | — | — | ||
| 2,421 | 2,212 | 1,947 | 9,020 | 8,215 | ||
| — | +13.6% | −78.4% | +9.8% | — | ||
| 288 | 235 | 176 | 1,309 | 1,199 | ||
| 11.9% | 10.6% | 9.1% | 14.5% | 14.6% | ||
| 136 | 83.1 | 30.3 | 1,025 | 964 | ||
| 81.9 | 5,361 | 7,636 | 2,088 | 537 | ||
| 3.4% | 242.4% | 392.2% | 23.2% | 6.5% | ||
| ₹7.22 | ₹802.60 | ₹1,146.71 | ₹313.81 | ₹79.48 | ||
| — | −30.0% | +265.4% | +294.8% | — | ||
| — | 41.8 | 233 | 533 | 804 | ||
| — | −114 | −158 | −208 | −116 | ||
| −72.1 | −72.1 | 75.3 | 326 | 688 | ||
From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.
In ₹ Crore except Per Share 12 Months Ending | FY23 31/03/2023 | FY24 31/03/2024 | FY25 31/03/2025 | FY26 31/03/2026 | Current/LTM TTM · last close | |
|---|---|---|---|---|---|---|
| Market Capitalization | — | — | — | — | 7,333.1 | |
| - Cash, Equiv & ST Investments | 1,057.2 | 1,254.7 | 506.5 | 640.0 | 290.1 | |
| + Minority Interest | 85.0 | 437.9 | 441.4 | 273.7 | 293.3 | |
| + Total Debt | 2,127.5 | 3,425.5 | 740.3 | 998.5 | 998.5 | |
| Enterprise Value | — | — | — | — | 8,334.9 | |
| Revenue | 8,214.7 | 9,019.5 | 1,946.8 | 2,212.1 | 2,420.9 | |
| Growth %, YoY | — | +9.8 | -78.4 | +13.6 | — | |
| EBITDA | 1,199.4 | 1,309.1 | 176.4 | 234.9 | 288.0 | |
| Margin % | 14.60 | 14.51 | 9.06 | 10.62 | 11.90 | |
| EBIT | 964.1 | 1,025.4 | 30.3 | 83.1 | 135.5 | |
| Net Income | 537.0 | 2,088.4 | 7,635.6 | 5,361.1 | 81.9 | |
| Margin % | 6.54 | 23.15 | 392.21 | 242.35 | 3.38 | |
| EPS, Adj (current shares) | 79.48 | 313.81 | 1,146.71 | 802.60 | 7.22 | |
| Growth %, YoY | — | +294.8 | +265.4 | -30.0 | — | |
| Cash from Operations | 804.2 | 533.3 | 233.1 | 41.8 | — | |
| Capital Expenditures | -116.3 | -207.6 | -157.9 | -113.8 | — | |
| Free Cash Flow | 687.9 | 325.6 | 75.3 | -72.1 | -72.1 | |
Prices at the previous close · figures from the company's filings with NSE
Raymond (NSE: RAYMOND) had a market capitalisation of ₹7,333 crore at the previous close (₹1,101.90 a share), a PE ratio of 152.6 on the last four quarters' profit and a price-to-book ratio of 2.32. In FY26 its consolidated net profit attributable to shareholders was ₹5,341 crore on revenue of ₹2,212 crore; in Q2 FY27 (July–September 2026) it was ₹22.4 crore, up 96.4% year on year. Its debt-to-equity ratio was 0.30 on 30 September 2026. Promoters held 48.87% of the shares on 30 September 2026.
Raymond's PE ratio is 152.6 at the previous close (₹1,101.90 a share): a market capitalisation of ₹7,333 crore divided by consolidated net profit attributable to shareholders of ₹48 crore over the last four quarters (Q3 FY26 to Q2 FY27). On FY26 net profit attributable to shareholders (₹5,341 crore) it is 1.4. These four quarters include net exceptional items of −₹34 crore (one-off charges reported separately), so the ratio on recurring profit would differ.
Raymond's price-to-book (PB) ratio is 2.32 at the previous close: a market capitalisation of ₹7,333 crore divided by shareholders' equity (book value) of ₹3,158 crore on 30 September 2026. That is a book value of ₹474.46 per share against a share price of ₹1,101.90.
In FY26, Raymond's return on equity (ROE) was 162.8% and its return on capital employed (ROCE) was 1.6%. ROE is net profit attributable to shareholders divided by average shareholders' equity (the start and end of the year); ROCE is operating profit (EBIT) divided by average capital employed (total assets less current liabilities). In FY25, ROE was 183.2% and ROCE 0.4%.
Raymond's market capitalisation was ₹7,333 crore at the previous close: 6.66 crore shares at ₹1,101.90 each.
No. Raymond had borrowings of ₹1,023 crore on 30 September 2026 (consolidated balance sheet), a debt-to-equity ratio of 0.30. Its cash and current investments were ₹716 crore, so its net debt was ₹307 crore.
Raymond's basic earnings per share (EPS) were ₹802.31 in FY26, against ₹1,147.00 in FY25. Over the last four quarters (Q3 FY26 to Q2 FY27) they add up to ₹7.22.
Raymond's debt-to-equity ratio was 0.30 on 30 September 2026: borrowings of ₹1,023 crore against total equity of ₹3,451 crore. A year earlier, on 30 September 2025, it was 0.28.
Promoters held 48.87% of Raymond on 30 September 2026, unchanged from both the previous quarter and a year earlier, according to the shareholding pattern filed with NSE.
In FY26, Raymond generated ₹41.8 crore of cash from operations and spent ₹114 crore on capital expenditure (property, plant, equipment and intangibles), leaving free cash flow of −₹72.1 crore. In FY25 it was ₹75.3 crore.
Raymond's net worth — shareholders' equity in its consolidated balance sheet — was ₹3,158 crore on 30 September 2026, down 2.9% from ₹3,251 crore a year earlier. Its market value is a different figure: a market capitalisation of ₹7,333 crore at the previous close.
Raymond's book value per share was ₹474.46 on 30 September 2026: shareholders' equity of ₹3,158 crore divided by the 6.66 crore shares in issue, down 2.9% from ₹488.48 a year earlier. The share price at the previous close was ₹1,101.90.
Raymond's latest results are for Q2 FY27 (July–September 2026), filed on 27 October 2026: consolidated net profit attributable to shareholders ₹22.4 crore, up 96.4% from ₹11.4 crore in Q2 FY26; revenue from operations ₹655 crore, up 24.2% year on year.
On 30 September 2026, Raymond's shares were held by promoters 48.87%, foreign portfolio investors (FII/FPI) 7.20%, domestic institutions (DII) 6.11% (including mutual funds at 3.79%) and retail and other non-institutional investors 37.79%. Over the year, FII holding was down 6.41 percentage points from 13.61% and DII holding was up 2.58 percentage points from 3.53%.
In FY26 (April 2025–March 2026), Raymond's consolidated net profit attributable to shareholders was ₹5,341 crore, down 30.0% from ₹7,631 crore in FY25, on revenue from operations of ₹2,212 crore (up 13.6%). Over three years, from FY23, net profit was up 909.8%.
In FY26, Raymond earned net profit attributable to shareholders of ₹5,341 crore on revenue of ₹2,212 crore, against ₹77.4 crore on ₹1,142 crore for DEE Development Engineers. Raymond's operating margin was 3.8% (DEE Development Engineers 12.1%) and its return on equity 162.8% (DEE Development Engineers 9.2%).
Raymond has reported Q2 FY27. Its next results, for Q3 FY27 (October–December 2026), are due by 14 February 2027 under SEBI's 45-day rule; the company notifies the board-meeting date at least two working days before.
On FY26 consolidated figures, against DEE Development Engineers, Pitti Engineering and Hirect: Raymond's operating margin of 3.8% is the lowest of the four (DEE Development Engineers 12.1%, Pitti Engineering 11.0%, Hirect 7.0%; peer average 10.0%); its return on equity of 162.8% is the highest of the four (DEE Development Engineers 9.2%, Pitti Engineering 12.5%, Hirect 24.4%; peer average 15.4%).
From Raymond's own consolidated results, balance sheets and shareholding patterns filed with NSE. Ratios are calculated by Alphave from those filings as each answer describes.
Consolidated figures from the company's filings with NSE; prices are NSE closing prices.