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1 Q2FY26 & H1FY26 RESULTS PRESENTATION OCTOBER 27, 2025
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01 05 04 03 02 2 Overview Consolidated Highlights Aerospace & Defence Business Precision Technology & Auto Components Business Management Team 3-8 9-14 15-22 23-31 32-35 Table of Contents
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3 OVERVIEW
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4 Group Overview Raymond Group B2C JDA’s Own Land (Thane) Aerospace & Defence Precision Technology and Auto Components B2B Branded Textiles Branded Apparel Garmenting High Value Cotton Shirting
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Raymond ~66.3% Maini Family~28.5% Othe Precision Technology & Auto Components Raymond ~66.3% Maini Family~28.5% Othe Aerospace & Defence 5 Restructuring Update ➢ Restructuring scheme of Engineering biz approved by NCLT via order dtd. 4th July 2025. Scheme effective from 1st Aug’25. ➢ As per the scheme, two companies are constituted namely JK Maini Precision Technology Ltd. and JK Maini Global Aerospace Ltd. ➢ JK Maini Precision Technology Ltd. constitutes erstwhile J K Files & Engineering Limited, erstwhile Ring Plus Aqua Limited and Auto business of erstwhile Maini Precision Products Limited. ➢ JK Maini Global Aerospace Ltd. constitutes Aero business of erstwhile Maini Precision Products Limited. Engineering Business Raymond Ltd. Raymond ~66.3% Maini Family ~28.5% Others ~5.2%
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6 Journey so far Commenced Production for Files (name was Hindustan files limited till 2009) 1977 2012 New Plant setup in Vapi, Gujarat for Files 2025 New Plant Inaugurated at Sinnar, Maharashtra MPP Incorporated 1973 1984 1st in India to supply to Bosch, Germany 2005 MPPL forays into Aerospace Raymond Group acquired Ring Plus Aqua 2024 Raymond Group acquired 59.25% of MPP 2021 Change of name from JK files to JK files and Engg. JK Files & Engineering Ltd. Incorporated 1949 2025 Restructured into two subsidiaries:
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7 Global Presence USA JAPAN EUROPE INDIA Exports Percentage Industrial and Automotive - 62% Tools and Hardware - 43% Aerospace – 90% Warehouses EUROPE - 6 USA - 3 CANADA & MEXICO - 1 each 11 6 500+ Twenty Ft. container exported in FY25 Our Manufacturing locations17 CANADA MEXICO SOUTH AMERICA AFRICA AUSTRALIA Warehouse Tools & Hardware Aerospace Automotive
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8 Leveraging Combined Infrastructure 7 decades of Experience 500+ Twenty Ft. container export Annually More than 3/5th Revenue from Exports 17 Manufacturing Facilities across 4 locations 12 3PL Warehouses 100+ Customers 25+ Countries 1500+ Machines 4000+ SKU’s Manufactured yearly ₹ 2,100+ Cr Total Income for FY25 Operates across 8 different Industry Segments JK Maini Precision Technology Limited (JKMPTL) JK Maini Global Aerospace Limited (JKMGAL) Note: 3PL (Third Party Logistics)
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9 CONSOLIDATED HIGHLIGHTS
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₹81 Cr. Aerospace & Defence 10 TOTAL INCOME EBITDA * PBT ₹409 Cr. Precision Tech & Auto YoY: 10% YoY: 15% ₹17 Cr. 21. 0% ₹57 Cr. 13.9% YoY: 57% YoY: 34% Note1: Precision Technology & Auto Components represents JK Maini Precision Technology Ltd. which includes T&H division, RPAL and Auto division of erstwhile Maini Precision. Note2: Aerospace & Defence represents JK Maini Global Aerospace Ltd. which includes Aerospace & Defence division of erstwhile Maini Precision. Note3: Consol represents JKMPTL (Precision Technology business) and JKMGAL (Aerospace & Defence business) and it includes corporate, elimination & others. * Includes a one-time gain of ~ ₹13 cr. on account of sale of land Consolidated Quarterly Performance ₹564 Cr. Consol YoY: 10% ₹79 Cr. 14.1% Consol YoY: 3% ₹19 Cr. 3.4% Consol YoY: (20)% Aerospace & Defence Precision Tech & Auto NET CASH SURPLUS ₹27 Cr. Consol Raymond Limited continues to remain Net-debt free
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79 87 77 14.1% 15.7% 15.1% Q2 FY26 Q1 FY26 Q2 FY25 564555512 Q2 FY26 Q1 FY26 Q2 FY25 11 Consolidated Quarterly Performance TOTAL INCOME (₹ Cr.) EBITDA & EBITDA Margin (₹ Cr.) * Note1: Precision Technology & Auto Components represents JK Maini Precision Technology Ltd. which includes T&H division, RPAL and Auto division of erstwhile Maini Precision. Note2: Aerospace & Defence represents JK Maini Global Aerospace Ltd. which includes Aerospace & Defence division of erstwhile Maini Precision. Note3: Consol represents JKMPTL (Precision Technology business) and JKMGAL (Aerospace & Defence business) and it includes corporate, elimination & others. * Includes a one-time gain of ~ ₹13 cr. on account of sale of land Y-o-Y Growth 10% Y-o-Y Growth 3%
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₹168 Cr. Aerospace & Defence 12 TOTAL INCOME EBITDA * PBT ₹808 Cr. Precision Tech & Auto YoY: 11% YoY: 26% ₹38 Cr. 22.4% ₹99 Cr. 12.3% YoY: 31% YoY: 32% Note1: Precision Technology & Auto Components represents JK Maini Precision Technology Ltd. which includes T&H division, RPAL and Auto division of erstwhile Maini Precision. Note2: Aerospace & Defence represents JK Maini Global Aerospace Ltd. which includes Aerospace & Defence division of erstwhile Maini Precision. Note3: Consol represents JKMPTL (Precision Technology business) and JKMGAL (Aerospace & Defence business) and it includes corporate, elimination & others. * Includes a one-time gain of ~ ₹13 cr. on account of sale of land Consolidated Half Yearly Performance ₹1,119 Cr. Consol YoY: 11% ₹167 Cr. 14.9% Consol YoY: (3)% ₹50 Cr. 4.4% Consol YoY: (27)% Aerospace & Defence Precision Tech & Auto NET CASH SURPLUS ₹27 Cr. Consol Raymond Limited continues to remain Net-debt free
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13 Consolidated Half Yearly Performance TOTAL INCOME (₹ Cr.) EBITDA & EBITDA Margin (₹ Cr.) * Note1: Precision Technology & Auto Components represents JK Maini Precision Technology Ltd. which includes T&H division, RPAL and Auto division of erstwhile Maini Precision. Note2: Aerospace & Defence represents JK Maini Global Aerospace Ltd. which includes Aerospace & Defence division of erstwhile Maini Precision. Note3: Consol represents JKMPTL (Precision Technology business) and JKMGAL (Aerospace & Defence business) and it includes corporate, elimination & others. * Includes a one-time gain of ~ ₹13 cr. on account of sale of land 1,1191,011 H1 FY26 H1 FY25 167172 14.9% 17.0% H1 FY26 H1 FY25
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14 Q2FY26 & H1FY26 Performance Highlights Consolidated Performance Particulars (₹ Cr.) Q2 FY26 Q1 FY26 Q2 FY25 YoY Change H1 FY26 H1 FY25 YoY Change Revenue from operations 528 524 474 11% 1,052 923 Other income 36 31 38 (6%) 67 88 Total Income 564 555 512 10% 1,119 1,011 11% Expenses 484 468 435 952 840 EBITDA 79 87 77 3% 167 172 (3%) EBITDA Margin % 14.1% 15.7% 15.1% 14.9% 17.0% Depreciation 38 39 37 77 72 Interest Expense 22 19 16 40 32 PBT before exceptions 19 30 24 (20%) 50 68 (27%) PBT margin % 3.4% 5.4% 4.7% 4.4% 6.7% Exceptional Items -167 0 0 (167) 0 Taxes 162 (8) (9) 155 (17) Associate / JV / Minority (0) (2) (14) (2) (27) Net Profit 14 21 1 35 24 46% Note1: Precision Technology & Auto Components represents JK Maini Precision Technology Ltd. which includes T&H division, RPAL and Auto division of erstwhile Maini Precision. Note2: Aerospace & Defence represents JK Maini Global Aerospace Ltd. which includes Aerospace & Defence division of erstwhile Maini Precision. Note3: Consol represents JKMPTL (Precision Technology business) and JKMGAL (Aerospace & Defence business) and it includes corporate, elimination & others. * Includes a one-time gain of ~ ₹13 cr. on account of sale of land
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15 AEROSPACE & DEFENCE BUSINESS
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16 Indian Aerospace Components Market all set to Take Off Factors Driving the Indian Aerospace Components Market Global Aircraft Sales on Rise (a) To reach $210 Bn by 2027 growing at a CAGR of 4.3%, with Asia Pacific dominating majority of the sales. Aircraft Engine & Other OEM Market (b) To grow at a CAGR of 9% and 6% respectively over next 5 years driven by growth in new aircraft demand and Engine Replacement Frequency. Global Aerospace Components Market (c) To reach $132 Bn at 10% CAGR propelled by OEM market expansion and aftermarket demand. Indian Component Manufacturers poised to capture 3.0% Global Market Share with 'China + 1' Strategy and 'Make in India for the World' Thrust. $1.5 Bn $4.0 Bn ~28% CAGR India’s Share in Global Aerospace Components Market Next 4 years Source: IBEF
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17 Dominating the Indian Aerospace Market As the leading exporter of highly critical Aero engine components Expertise in Precision Manufacturing for the Aerospace Sector 1,200+ Precision Aero Engine Parts Developed 350+ Parts of Latest LEAP Engines Variants 25+ Global Aero Components Manufacturing Clients 2 Decades Relationship with Top Aero OEMs and Tier 1 Suppliers Key Highlights Preferred Supplier to top 3 Global Aircraft Engine Manufacturers holding 88% market share.1 2 Supplies high precision, mission- critical components to Global OEMs and Tier 1 suppliers in Aerospace & Defense industry. 3 Senior Management with 30+ years of Industry Expertise.
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18 One-stop Solution for Aircraft Components Turbine Vanes Housing Assembly Fuel System Cylinder Fuel Control Assembly Body insert AssemblyStator Blade Lever Throttle TGB Mount Inlet Tie Rod Assembly Mount BracketGear Train support plate Manifolds Clevis Flange Tube Lighting System Housings Housing coverTIR Holder System Components – 6% Swinging Links Tank Drag Strut Assembly Hook Assembly PylonRings Structure Components – 16% Complex Engine Parts (75%+) Systems Parts (5%+) Aero Engine is our Biggest Revenue generator with more than 3/4th of the revenue from this segment Swinging Links Tank Drag Strut Assembly PylonRings Structural Parts (15%+)
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19 Engineering Prowess 20 State-of-the-Art Machines: Exclusively dedicated to New Product Development (NPD), enabling complex machining and precision engineering for high-quality components. 57 Dedicated NPD Engineers: A specialized team exclusively focused on New Product Development (NPD), driving innovation, precision, and technical excellence from design to manufacturing. From Design to Build: Our team of seasoned professionals is committed at every stage of the product lifecycle, ensuring seamless integration of design and manufacturing processes. Round-the-Clock Operations: Operating 24/6 to deliver exceptional turnaround times, supporting the ever-evolving demands of aerospace innovation.
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20 Complex Engine Parts – Nozzle Guide Vanes Vacuum Brazing EDM 5 Axis Grinding TIG Welding • Leap 1A • Low Pressure Turbine – Stage 6 & Stage 7 • Dedicated facility to make 8000 units per year • Material: Rene 77 • Honeycomb & Sheetmetal Assembly through welding & brazing
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21 Raw Material Portfolio RM FORMS Round Bar Tubes Castings Forgings Profile Sections Plates RM Consumption Major Mills Daido VDM Bohler Carpenter ATI VSMPO Timet Industries ATI Baoji Aleris Alro Amag Kaizer UGITECH Cogne Gloria Location Inconel Titanium 19% 44% 20% 17% Aluminum Steel Alloys RM TYPES 110 VARIETIES ANNUAL CONSUMPTION 500 TONNES
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22 Segmental Financials 1. The Segment Witnessed a revenue growth of 15% in Q2F26 vs PY: • Current aerospace business growth was fueled by: o A significant year-on-year rise supported by the production ramp-up at a leading aerospace OEM o Revenue contribution from newly developed and approved parts that entered production this year, strengthening the overall topline 2. EBITDA Margin improved due to higher sales & change in product mix Note1 : Aerospace & Defence represents JK Maini Global Aerospace Ltd. which includes Aero division of erstwhile Maini Precision. Aerospace & Defence Q2 FY26 Q2 FY25 YoY H1 FY26 H1 FY25 YoY Revenue 81 70 15% 168 134 26% EBITDA 17 13 34% 38 29 32% EBITDA Margin 21.0% 18.0% 22.4% 21.4%
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23 PRECISION TECHNOLOGY & AUTO COMPONENTS BUSINESS
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24 India’s Engineering Industry Overview Factors Driving the Indian Engineering Consumables Market Engineering Sales on Rise (a) India exports over $20 Bn of auto components annually, with a balanced trade ratio and growing demand from Europe and Southeast Asia. OEM Market (b) To grow at a CAGR of ~4.7% over the next 5 years driven by EV adoption, connected vehicle technologies, and smart manufacturing advancements. Global Engineering Consumables Market (c) India’s Automotive Industry is valued at~$222 Bn and contributes 8% of total exports and 7.1% to GDP. It is set to become the 3rd largest Automotive Market globally by 2030. Source: IBEF
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25 Market Leadership in Engineering Consumables: India & Beyond As one of India’s leading suppliers of high-end precision components Expertise in Precision Technology and Auto Components Manufacturing 2,000+ Auto Components Manufactured 18+ Global Customer Loacations 7 Decades Trusted Tier-1 supplier with established relationships across domestic and global OEMs Key Highlights Preferred supplier to leading domestic and global auto manufacturers 1 2 Provides high precision, mission-critical components to leading domestic and global OEMs and Tier 1 suppliers in the automotive industry. 3 Senior Management team with 30+ years of Industry expertise 100+ Large Customers across the globe
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26 Steel Files Ring Gears Flex Plates Water Pump Bearings Drills Hand Tools Input Shaft (EV) Oil Sleeve (EV) Park Pawl (EV) Market Leader across Product Segments STEEL FILES #1 in India with 60%+ Market Share STEEL FILES #1 in Global Installed Capacity with ~25% Market Share #1 in India with Market Share: ~55% in PV ~45% in CV RING GEARS Sole Domestic Manufacturer with ~25% Market Share in India FLEX PLATES ➢ Catering across sectors including- Agriculture, Industrial, Automotive, Construction, Engineering, Home Improvement DIY, Real Estate ➢ Domestic Presence: Pan India ~1.5 lac POS across 600 towns & cities in B2C and caters to OEMS & Tier 1 suppliers in auto sector ➢ International Presence : Caters to leading global players across geographies to 65+ countries ➢ USP: Manufacturing excellence, established customer relationship, strong brand recall, and product development capabilities
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27 Further Expanding Capabilities and Product Lines Clean Powertrain: Delivering high-precision components for clean powertrain which comply to latest regulatory (EURO VI & BS VI) norms on emission and enhancing fuel efficiency in automotive applications EV & Hybrid: Developing advanced and complex precision components for electric and hybrid vehicles Hydraulics: Manufacturing precision components for critical hydraulic assemblies and systems for industrial machinery, ensuring optimal fluid power control and precision. Industrials: Providing durable precision parts for industrial equipment, supporting diverse sectors like construction, manufacturing, heavy machinery, etc. Agriculture: Engineering robust mechanical components tailored for agricultural vehicles and machinery Locomotive: Supplying high- strength complex components for locomotive systems Marine: Producing corrosion- resistant parts for marine applications, focusing on high- tolerance components for engines and propulsion systems Automotive: Supporting established automotive platforms with precision-engineered components, maintaining consistency in quality and performance Power Tools: Manufacturing critical engine components for power tool industry
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28 1. GDI Pump body 350 Bar (Machined Forging) 2. GDI Pump body 600 Bar (Machined Forging) 3. GDI Pump body 350 Bar 4. GDI Pump body 200 Bar 5. Mechanical Dump Valve (Assembly) 6. Medium Duty Plunger injector (Heat Treated) 7. Heavy Duty Plunger injector (Heat Treated) 8. Medium Duty Seat retainer 9. Heavy Duty Seat retainer 1. Oil sleeve 2. Support bracket 3. BLDC Upper hub cover 4. BLDC Lower hub cover 5. Sand cover 6. Clutch flange 7. Transmission 8. Park pawl 9. Input shaft 10. Lever arm 1. Cradle 2. Bearing journal 3. ELSD housing & Plate 4. Brake plate 5. Wheel fork 6. Pressure plate (Variant 1) 7. Pressure plate (Variant 2) 8. Bearing housing (Variant 1) 9. Bearing housing (Variant 2) Engineering - Product Portfolio Clean Powertrain Electric and Hybrid Hydraulics and Industrial
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29 Segmental Financials 1. The Segment Witnessed a growth of 10% in Q2F26 vs PY: • Auto Components business growth was driven by: o Strong demand of hybrid products in Europe o Robust domestic demand in Tools & Hardware business, partially offset by weaker demand in the export markets. 2. EBITDA Margin improved due to higher sales & change in product mix and Includes a one-time gain of ~ ₹13 cr. on account of sale of land Note1 : Precision Technology & Auto Components represents JK Maini Precision Technology Ltd. which includes T&H division, RPAL and Auto division of erstwhile Maini Precision. * Includes an exceptional one-time gain of ~ ₹13 cr. on account of sale of land Precision Technology & Auto Components Q2 FY26 Q2 FY25 YoY H1 FY26 H1 FY25 YoY Revenue 409 373 10% 808 728 11% EBITDA 57 36 57% 99 75 31% EBITDA Margin 13.9% 9.7% 12.3% 10.4% *
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30 Current Status of Operations & Outlook ➢ JKMPTL is gaining steady momentum, backed by China +1 sourcing tailwinds, stronger engineering integration and rising demand in EV , hybrid and motion control segments across global and domestic markets. ➢ Our Tools & Hardware business is scaling through new export markets and industrial segments, with the launch of ‘Three Files’ reinforcing our leadership in India’s files segment. A surge in RFQ’s reflects OEMs’ shift away from China and our continued focus on cost engineering and value-added processes positions us well for sustainable margin growth and new program wins ➢ Additionally, escalating tariffs in US is creating new challenges ➢ Onboarded new customers marking our strategic entry into the UAE market and expanding our international presence. ➢ Pratt & Whitney program progressing well ➢ These alignments with Tier-1 programs strengthen our role as a trusted global partner. With a commercial aircraft backlog exceeding 16,000 units – offering 12-15 years of visibility. ➢ Over 70% of our aerospace revenue coming from engine components, we’re well-positioned at the core of this long-term growth cycle. JK Maini Precision Technology Limited (JKMPTL) JK Maini Global Aerospace Limited (JKMGAL) Raymond Limited to Remain Net Cash Surplus
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31 Sustainability Compressedairsystem audit andreductionin leakagesand openusage Air Compressor Oilrecyclingonmachines using neatoil Oil Recycling Emissionreductionby using solarpower.Maini used11.5Mn unitsfrom solarpowerlastyear Solar Power Paperlessfactoryby introducing IOT(internet ofthings) Paperless Factory Optimizingthe transportationby groupingtheproducts andpeople Transportation Sensorinstallationin meetingroomand office area Auto Lighting Thisaudithelpsto identifythe opportunities wherethereis aneedto improveenergyefficiency Energy Audit & Conservation Reusablewooden/ Plasticpallets and minimizingcorrugated boxes Packing SewageTreatmentPlant management STP Compactedmetalscrap recyclingwithfoundries and mills Metal Recycle Hazardouswaste disposal through e-waste portal E-waste Replaceincandescent light bulbswithLED ones Lighting
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32 MANAGEMENT TEAM
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33 Q2FY26 & H1FY26 Performance “Both our aerospace & defence and precision technology & auto components businesses maintained strong momentum this quarter, delivering higher sales even in a competitive environment. We continue to focus on strategic business expansion. With both subsidiaries demonstrating robust performance, we are ideally positioned to seize upcoming opportunities and drive sustained stakeholder value.” GAUTAM HARI SINGHANIA Chairman & Managing Director
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34 Management Team S.L. POKHARNA President - Corporate Commercial Raymond Ltd. AMIT AGARWAL Group CFO Ex - JSW, Jet Airways, and Essar Group K.A. NARAYAN President - HR Ex - Wokhardt JATIN KHANNA Head – Corporate Development Ex – Max Financial Services GAUTAM MAINI MD –Engineering Business NAVIN SHARMA CFO –Engineering Business
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35 GAUTAM HARI SINGHANIA Chairman & Managing Director Board Members DINESH KUMAR LAL Independent Director NARASIMHA MURTHY KUMMAMURI Independent Director ASHISH KIRAN KAPADIA Independent Director RASHMI BRIJGOPAL MUNDADA Additional Independent Director HARMOHAN SAHNI Non-Executive Director
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36 Disclaimer The particulars of this presentation contain statements related but not limited to revenues, financial results and supplemental financial information which has been compiled by the management, not to be construed as being provided under any legal or regulatory requirement and are not intended to invite any investment in the Company. The information contained in this presentation has not been subjected to review by Auditors or the Board of Directors of the Company. Commentary in the presentation describes the reporting quarter’s performance versus the same quarter of the corresponding previous year, unless specified otherwise. The figures for the previous periods in this presentation have been regrouped/ reclassified, wherever necessary. The Company assumes no responsibility and does not provide any warranty to the accuracy or comprehensiveness of the information contained in this presentation. This presentation is not intended to be a “prospectus” (as defined under the Companies Act, 2013), SEBI Regulations and relevant provisions of applicable laws. This presentation is for information purposes only and does not constitute or form part of, and should not be considered as any offer for sale or subscription of or solicitation or invitation of any offer to buy or subscription of securities in any manner. No part of this presentation and the information contained herein should form the basis of, or be relied upon, in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. Statements in this presentation describing the Company’s objectives, projections, estimates, expectations or predictions may constitute “forward looking statements”. Such statements are based on the current expectations and certain assumptions of the Company's Management, and are, therefore, subject to risks and uncertainties. Actual results may differ materially from those expressed or implied. The Company neither intends, nor assumes any obligation to amend, modify, revise or update these forward looking statements, on the basis of any subsequent developmentswhich differ from those anticipated.
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C o n t a c t U s : R L . I R @ R a y m o n d . i n Thank You 37