RACLGEAR

RACL Geartech share price & financials

Price
₹1,318.8
Market cap
₹1.8k Cr
Sector
Automobile and Auto Components
Calls analysed
6
Latest concall · Q1 FY27 · call held 25 Aug 2026

RACL Geartech Limited Q1 FY27

Consolidated EBITDA ₹32.19 cr +18%Consolidated EBITDA Margin 24.27% Consolidated PBT ₹16.82 cr +49%

What went well

  • Consolidated turnover for Q1 FY27 grew 22% YoY to ₹132.6 crores, demonstrating strong overall performance.
  • Consolidated PBT surged 50% YoY to ₹16.82 crores, with PBT margin expanding to 12.68%.
  • Export turnover increased significantly by 66% YoY, and domestic business grew 34% YoY.

What to watch

  • Management noted persistent challenges from geopolitical conflicts and severe energy crises.
  • While raw material consumption as a percentage of sales was lower, other expenses took a higher share, leading to an analyst query about reclassification.
Read the full call →

What RACL Geartech Limited does

RACL Geartech manufactures high-precision automotive components — gears, shafts, sub-assemblies, machined parts and chassis components — supplied to leading OEMs and Tier-1 suppliers across two-wheeler, three-wheeler, passenger car, commercial vehicle and agricultural-machinery segments. Beyond components, it also supplies tooling, gearboxes, machines and maintenance fittings used in customers' own manufacturing and maintenance operations, serving industries such as agricultural machinery, off-road vehicles, shipbuilding and heavy industry. The company has extended its traditional chassis, suspension and brake-component work into electric-vehicle driveline parts, including a parking-lock mechanism and decoupling device developed for BMW's EV platforms. It runs two manufacturing plants in India, backed by a European warehouse network and an Austrian subsidiary, to service OEM customers globally.

Segments

  • Automotive Precision Components
Manufacturing plants (India)
2 — Unit 1: Gajraula, Uttar Pradesh; Unit 2: Noida, Uttar Pradesh
Overseas warehouses
5, in Europe
Overseas subsidiary
Wholly owned subsidiary in Austria
Active customers
22
Countries exported to
10+
Years in operation
30+ years
Founded 1983Headquarters New Delhi, India (Registered Office); Noida, Uttar Pradesh (Corporate Office) Company website

Guidance record · Q1 FY27

what the last two calls moved 16 tracked 4 delivered 3 missed 9 open
  • EBITDA Margin delivered said Q1 FY26 Promised: Anything between 20 or 25% is always our benchmark Q1 FY27: Achieved consolidated EBITDA margin of 24.27%, within the benchmark range.
  • Kawasaki Japan Project Start of Production went quiet said Q4 FY26 Promised: Start of production for Kawasaki Japan project anticipated early next year (2027). Q1 FY27: No mention of the Kawasaki project in the earnings call.
  • Long-term Revenue Vision on track said Q4 FY25 Promised: 1000 crores run over in 3-4 years' time Q1 FY27: Management reiterated an ambitious growth plan of 15-20% per year, supporting the long-term vision. Q1 FY27 YoY growth was 22%.

All 16 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 27.7%, net profit up 5.8% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue102 109 101 100 117 +16%131 +19%130 +28%128 +28%
EBITDA18 25 19 19 24 +34%30 +22%28 +45%32 +70%
Net profit5 8 7 8 12 +141%15 +91%12 +74%9 +6%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +95.0% 1Y

₹1.0k₹1.2k₹1.4k₹1.6k₹1.8kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 5 Dec 2025Q3 FY26 — 27 Feb 2026Q4 FY26 — 12 Jun 2026Q1 FY27 — 25 Aug 2026

1Y: ₹900.9 on 10 Sept 2025 → ₹1,756.7. High ₹1,756.7 (11 Sept 2026), low ₹900.9 (10 Sept 2025).

How the price took the results

close before → close after

Q1 FY27
−0.2%
25 Aug
Q4 FY26
+3.8%
12 Jun
Q3 FY26
−1.7%
27 Feb
Q2 FY26
+0.8%
5 Dec

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 10.1% a year over 3 years, FY23 to FY26. Operating margin narrowed to 21.1%.

Year endingFY23FY24FY25FY26
Revenue₹358 Cr₹417 Cr₹417 Cr₹478 Cr
Operating profit₹81 Cr₹96 Cr₹84 Cr₹101 Cr
Operating margin22.6%23.0%20.1%21.1%
Interest₹21 Cr₹24 Cr₹29 Cr₹27 Cr
Depreciation₹19 Cr₹25 Cr₹30 Cr₹34 Cr
Net profit₹38 Cr₹40 Cr₹26 Cr₹47 Cr
Net margin10.6%9.5%6.1%9.7%
Cash from operations₹60 Cr₹35 Cr₹63 Cr₹82 Cr
Free cash flow₹-15 Cr₹-58 Cr₹17 Cr₹29 Cr
ROCE22.0%18.0%13.0%17.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹11 Cr₹11 Cr₹11 Cr₹11 Cr₹12 Cr₹12 Cr
Reserves₹97 Cr₹121 Cr₹157 Cr₹194 Cr₹315 Cr₹340 Cr
Borrowings₹109 Cr₹165 Cr₹203 Cr₹289 Cr₹230 Cr₹233 Cr
Other liabilities₹54 Cr₹55 Cr₹73 Cr₹86 Cr₹90 Cr₹108 Cr
Total liabilities₹271 Cr₹351 Cr₹444 Cr₹580 Cr₹647 Cr₹694 Cr
Fixed assets₹140 Cr₹178 Cr₹227 Cr₹304 Cr₹320 Cr₹342 Cr
Capital work in progress₹1 Cr₹4 Cr₹2 Cr₹6 Cr₹9 Cr₹3 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹2 Cr₹2 Cr
Other assets₹130 Cr₹170 Cr₹215 Cr₹269 Cr₹317 Cr₹346 Cr
Total assets₹271 Cr₹351 Cr₹444 Cr₹580 Cr₹647 Cr₹694 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public trimmed −0.90 pp while FIIs added +0.51 pp. The shareholder count grew 9% to 16,693.

Promoters
42.7%
FIIs
9.3%
DIIs
3.2%
Public
44.8%

Since Jun 2025

  • Public −0.90 pp
  • FIIs +0.51 pp
  • DIIs +0.37 pp

How it drifted, 12 quarters

Over this window promoters fell from 53.4% to 42.7% — −10.7 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 53.4%, FIIs 0.1%, Public 46.6%.Dec '23: Promoters 53.3%, FIIs 0.1%, Public 46.6%.Mar '24: Promoters 53.3%, FIIs 0.1%, Public 46.6%.Jun '24: Promoters 53.3%, FIIs 0.0%, Public 46.7%.Sep '24: Promoters 53.3%, DIIs 0.0%, Public 46.6%.Dec '24: Promoters 53.3%, DIIs 0.1%, Public 46.6%.Mar '25: Promoters 51.3%, FIIs 0.0%, DIIs 0.1%, Public 48.6%.Jun '25: Promoters 42.7%, FIIs 8.8%, DIIs 2.9%, Public 45.7%.Sep '25: Promoters 42.7%, FIIs 8.7%, DIIs 2.9%, Public 45.8%.Dec '25: Promoters 42.7%, FIIs 9.0%, DIIs 2.7%, Public 45.6%.Mar '26: Promoters 42.7%, FIIs 9.5%, DIIs 3.2%, Public 44.5%.Jun '26: Promoters 42.7%, FIIs 9.3%, DIIs 3.2%, Public 44.8%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of RACL Geartech Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Gursharan Singh 33.48%unchanged
The Pradeshiya Industrial And Investment Corporation Of U.P Limited 8.51%unchanged
Malabar India Fund Limited FPI fund5.87%unchanged
Middleware Development Limited 5.43%unchanged
Aniruddha Narayan Malpani 2.94%unchanged
Ashoka India Equity Investment Trust Plc FPI fund1.86%unchanged
Mncl Capital Compounder Fund 2 AIF1.58%unchanged
Dev Raj Arya 1.56%unchanged
Anjali Aniruddha Malpani 1.32%unchanged
Aadhar Infosytems Private Limited 0.41%unchanged
Narinder Paul Kaur 0.30%unchanged
Prabh Mehar Singh 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Growth trap

To justify its price of ₹1757, this stock must grow earnings at 31% every year for 7 years. Our analysis caps realistic growth at ~0%. At that growth it is worth ₹349 — downside of 80%.

Growth the price implies
31.1% a year
for 7 years, fading to 4%
It has actually compounded at
2.6% a year
net profit, FY23–FY26 · EPS 0.1%
The gap
0.3 pp
-80% downside if it only repeats history
Price today ₹1,756.7 Value at the reference growth ₹349.22

Change the assumptions yourself →

All earnings calls (6)

Read the Q1 FY27 call →

Learn to analyse RACL Geartech Limited

Guides on how to read this kind of business and the numbers that matter.