RACL Geartech posted FY25 revenue of ₹427.29 Cr, up 1% YoY, with exports at 68%, primarily to Europe. EBITDA margin slipped to 22% from 24%, PAT margin declined to ~6% due to higher finance costs and flat sales. Debt rose slightly to ₹294 Cr; cash from operations jumped 140% to ₹64 Cr. KTM’s production halt affected Q4 but is stabilizing with Bajaj’s €800M backing. New projects aim for mass production by Aug 2026. The company raised ₹80 Cr to cut debt and fuel ~₹45-50 Cr capex in FY26. Revenue guidance is ₹500-525 Cr with a 3-4 year target of ₹1,000 Cr, focusing on margin stability and measured growth.