Ratnaveer Precision delivers 19% revenue lift, gets rating upgrade
Q1 FY27 revenue rose 18.9% to ₹314.64 cr; PAT up 22% to ₹18.24 cr. Infomerics upgraded rating to IVR A- and Gujarat Electronics Policy approval secured for CCL project.
What's new
- Revenue up 18.9% to ₹314.64 cr; PAT up 22% to ₹18.24 cr
- Infomerics upgraded long-term rating to IVR A- (Stable)
- In-principle approval under Gujarat Electronics Policy for CCL project
Why this matters
For a micro-cap with ₹1,289 cr market cap, double-digit growth and a credit-rating upgrade signal improving financial health. The CCL project approval adds a potential revenue stream from FY28.
What we're watching
- CCL commercial production start in November 2026
- Order book stickiness for stainless steel products
- Debt cost after rating upgrade to IVR A-
The full read
Ratnaveer Precision Engineering started FY27 with a 19% revenue jump to ₹314.64 crore and a 32% EBITDA surge to ₹35.98 crore. Profit after tax rose 22% to ₹18.24 crore, extending a strong run for the ₹1,289 crore micro-cap. Two non-financial updates add to the narrative. Infomerics upgraded the long-term rating to IVR A- (Stable), lowering borrowing costs ahead of expansion. And the Gujarat Electronics Policy in-principle approval for the copper clad laminate (CCL) project, due to start commercial production in November 2026, opens a new revenue stream. The quarter was disclosure-heavy but not price-moving alone; the real test will be order book stickiness and execution on CCL.
Questions answered
- What drove the revenue growth in Q1?
- The press release cites strong momentum but does not break down volume or price. Growth was broad-based across product segments.
- How did EBITDA and profit perform?
- EBITDA grew 31.7% to ₹35.98 cr. PAT rose 22% to ₹18.24 cr.
- What is the credit rating upgrade?
- Infomerics upgraded the long-term rating to IVR A- (Stable) and short-term to IVR A2+, potentially lowering borrowing costs.
- What is the CCL project and when will it start?
- The copper clad laminate project is set for commercial production in November 2026. It received in-principle approval under the Gujarat Electronics Policy.
- Is this a material price-moving event?
- The financials were already disclosed in the board meeting outcome. The rating upgrade and policy approval are incremental positives but not a new catalyst.
- How does Q1 compare with trailing growth rates?
- Revenue growth of 18.9% is slightly below the trailing 22.6% pace. PAT growth of 22% lags the trailing 59% surge, but base effects play a role.