Raymond Limited reported robust Q3 FY26 results, with consolidated total income up 18% to INR 580 Cr and EBITDA increasing 28% to INR 83 Cr. The Aerospace & Defense business surged, with revenue up 49% and EBITDA up 36%. Precision Technology & Auto Components saw revenue grow 15% and EBITDA 50%. Management projects long-term EBITDA margins of 23-25% for Aerospace and over 15% for Auto. The company remains debt-free with a net cash surplus of INR 214 Cr. Key growth drivers include strong demand, strategic manufacturing expansion including INR 1000 Cr capex in Andhra, and a growing Aerospace order pipeline of ~2.5x annual revenue. Management is confident in sustained growth and margin expansion.