Mumbai (Maharashtra) [India], September 23: Raymond Limited has achieved a significant milestone in its Aerospace & Defence journey, with its subsidiary JK Maini Global Aerospace Limited has emerged as successful in the tender process conducted by a leading Indian aerospace and Defence OEM for the assembly of wing structures and centre fuselage structures for a major indigenous fighter aircraft programme.
This development marks Raymond’s proposed entry into the aircraft structures vertical, expanding its capabilities beyond precision manufacturing into complex, higher-value aircraft assemblies. Importantly, the programme is envisaged to leverage the customer’s existing infrastructure, enabling Raymond to develop capability and establish execution credentials while maintaining a capital-efficient approach.
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 Limited now has two core businesses within the Engineering vertical – Aerospace and Defence & Tools and Auto Components. Raymond’s engineering business has forayed into the sunrise sectors of Aerospace and Defence. EV components and caters to international as well as domestic markets. Raymond’s engineering business commands a leadership position in manufacturing files and hand tools and has a significant presence in national and international markets.
About Raymond Limited:
With the inception in 1925, Raymond Group has been a pioneer and leader in fabric manufacturing and then forayed in other sectors such as engineering and Real Estate. After demerging its Lifestyle Business and Real Estate verticals into independent entities, Raymond Limited now has two core businesses within the Engineering vertical – Tools and Auto Components and Aerospace and Defence. Raymond’s engineering business commands a leadership position in manufacturing files and hand tools and has a significant presence in national and international markets. With the acquisition of Maini Precision Products Limited (MPPL) Raymond’s engineering business has forayed into the sunrise sectors of Aerospace and Defence. EV components and caters to international as well as domestic markets.