Raymond’s Aerospace Subsidiary Lands ₹33 Crore Multi-Programme Win

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“This order sits squarely within the product mix optimization we have identified as a core margin lever. The award win reaffirms the strong manufacturing process of Raymond Ltd. that spans across machining, castings, structures and assemblies, rather than at a single stage of the value chain, raises our capture rate per programme and improves the quality of the multi-year backlog we are building against. It also broadens our customer base into India's growing domestic aerospace ecosystem, in a business that has until now been predominantly export-led.” - Rakesh Tiwary, Group Chief Financial Officer - Raymond Limited

September 2026 : In a move that solidifies its evolving identity beyond textiles, Raymond Limited’s aerospace subsidiary has bagged a major multi-programme order from a leading Indian aerospace and defence major. The breakthrough contract unlocks an annual business potential of approximately ₹33 crore, positioning the legacy company as an essential partner in India’s high-tech manufacturing push.

The ambitious contract covers more than 300 distinct part numbers - spanning precision-machined elements, high-grade aerospace castings, structural components, and complex assemblies. Under the agreement, Raymond will deliver over 37,000 components annually across diverse aircraft applications. Production is set to roll out progressively through 2026 and 2027, scaling up as manufacturing rates accelerate.

This win reflects Raymond’s strategic vision to expand across the aerospace value chain. Following the 2023 strategic acquisition of Maini Precision Products Limited (MPPL) and the recent demerger of its lifestyle and real estate arms, Raymond has sharply focused its engineering business on sunrise sectors like Aerospace, Defence, and Electric Vehicles.

Commenting on the development, Mr. Rakesh Tiwary, Group Chief Financial Officer, Raymond Limited, said: “This order sits squarely within the product mix optimisation we have identified as a core margin lever. The award win reaffirms the strong manufacturing process of Raymond Ltd. that spans across machining, castings, structures and assemblies, rather than at a single stage of the value chain, raises our capture rate per programme and improves the quality of the multi-year backlog we are building against. It also broadens our customer base into India's growing domestic aerospace ecosystem, in a business that has until now been predominantly export-led.”

Traditionally export-led with over 50% international business across 60 countries, Raymond’s aerospace division is now strategically capitalizing on India’s expanding domestic defence ecosystem. By capturing higher value per programme and building a durable multi-year backlog, Raymond is scaling a formidable, high-precision manufacturing platform in India.

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