Raghav Productivity Enhancers Q2 FY27: PAT ₹20 & Rev ₹87

Investor Takeaways

Revenue grew 49% YoY to ₹87 Crs, driven by 25% volume growth and 34% QoQ export expansion

EBITDA increased 62% YoY to ₹26 Crs, reflecting margin improvement

PAT rose 68% YoY to ₹20 Crs, outpacing revenue growth

OPM improved to 26.11% in Q3FY25 from 22.72% in Q2FY25

Volume growth reached 97K MT with premiumization and export momentum

Brownfield expansion targeting 1 Mn MTPA capacity by Oct 2026 underway

Overall Tone: Positive

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹87 Cr	+49%
Net Profit	₹20 Cr	+68%
EBITDA	₹26 Cr	+62%
EPS	₹2.14	(Q3FY25)
OPM	26.11%	(Q3FY25)

What Changed

The company demonstrated strong operational momentum in Q1 FY27, with revenue growth significantly outpacing prior quarters. Profitability expanded notably, as PAT growth (68%) exceeded revenue growth (49%), indicating improved cost management and margin realization. Volume growth of 25% to 97K MT was supported by strategic premiumization and export expansion (+34% QoQ), despite external freight challenges. The EBITDA growth of 62% YoY further confirms operational efficiency gains. Management’s focus on brownfield expansion to reach 1 Mn MTPA capacity by October 2026 signals long-term capacity enhancement. Current valuation at P/E 69.17 reflects market optimism, though it implies premium pricing relative to peers.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
RPEL	69.17	N/A	N/A	3,790.86
BEL	62.03	N/A	N/A	3,09,678.78
HAL	33.73	N/A	N/A	2,93,338.09
CUMMINSIND	74.38	N/A	N/A	1,49,466.24

RPEL trades at a premium to BEL and HAL but below CUMMINSIND on P/E basis, reflecting investor confidence in its growth trajectory despite higher valuation.

Risks & Concerns

Freight challenges may impact export margins if not fully passed on

High P/E ratio of 69.17 may limit upside if growth moderates

No specific risks identified in the filing beyond operational execution

Quarterly Trend

Quarter	Revenue (₹ Cr)	Net Profit (₹ Cr)	OPM%
Q3FY25	55.04	9.81	26.11
Q2FY25	49.12	N/A	22.72

The sequential improvement in revenue, profit, and OPM from Q2FY25 to Q3FY25 confirms accelerating momentum heading into the reported quarter.

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About Raghav Productivity Enhancers Limited (RPEL)

Capital Goods · Refractories · Listed on NSE

Market Cap: ₹7,948.4 Cr P/E: 126.7 ROE: 25.6% ROCE: 32.1% Div Yield: 0.06%

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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