Raymond Limited is expanding its Aerospace & Defence business with its subsidiary JK Maini Global Aerospace Limited emerging successful in a tender conducted by a leading Indian aerospace and defence OEM. The tender covers the assembly of wing structures and centre fuselage structures for a major indigenous fighter aircraft programme. The opportunity marks Raymond’s proposed entry into the aircraft structures segment and expands its aerospace capabilities from precision manufacturing to the assembly of complex aircraft structures. The programme is planned to use the customer’s existing infrastructure. This will allow Raymond to develop capabilities and build execution experience while maintaining a capital-efficient operating model.
Rakesh Tiwary, Group CFO, Raymond Group, said, “This opportunity is strategically much larger than its immediate business potential. It provides Raymond an entry into the high-value aircraft structures segment while maintaining capital efficiency. More importantly, it gives us an opportunity to establish critical execution credentials that can position Raymond’s subsidiaries for participation in larger aerospace programmes in India and globally. Our focus will be on execution excellence and building this capability into a scalable growth platform.”
Raymond’s engineering business currently operates across two core areas — Aerospace and Defence & Tools and Auto Components. The business has expanded into aerospace and defence through the acquisition of Maini Precision Products Limited (MPPL), building on its engineering and manufacturing capabilities. The company’s engineering operations include the manufacture of files, hand tools and precision components, with products serving both domestic and international markets. Its capabilities also cover auto components and EV components.
The aircraft structures programme is expected to provide Raymond with experience in the assembly of major aircraft structures and strengthen its capabilities in the aerospace sector. The company plans to use the programme to develop execution credentials that can support participation in future aerospace programmes.
Raymond Group was established in 1925 and has businesses across engineering and other sectors. Following the demerger of its Lifestyle Business and Real Estate verticals into independent entities, Raymond Limited now focuses on its engineering businesses, comprising Tools and Auto Components and Aerospace and Defence.
Through JK Maini Global Aerospace and its other engineering businesses, Raymond is building capabilities in aerospace and defence, while continuing to serve domestic and international customers in precision manufacturing, tools, auto components and EV components.
