Raymond in talks to acquire German aerospace engineering firm Deharde: Exclusive

Raymond Ltd. is nearing an acquisition in the aerospace business and is in talks to buy German engineering player Deharde, people in the know told CNBC-TV18 on Tuesday, June 23.Raymond’s recent ₹330 crore preferential issue had earmarked ₹248 crore for acquisitions. The company had identified sectors such as aerospace and space tech for acquisitions.

Deharde is a German precision engineering and manufacturing company. Airbus and Boeing are its most prominent clients.
Raymond told CNBC-TV18 that it is not commenting on market speculation. Deharde had not responded to CNBC-TV18’s query till the time of publishing.On another note, Raymond reported an 8.2% revenue growth in the March quarter to ₹603 crore from ₹557.2 crore in the previous year. Its earnings before interest, tax, depreciation and amortization (EBITDA) increased 26.2% to ₹75.7 crore from the previous year.

The company’s EBITDA margin expanded by 200 basis points from the year-ago period. It remains net-debt free as it ended the fiscal with a net cash surplus of ₹68 crore.

Shares of Raymond Ltd. were trading 1.3% lower at ₹592.65 apiece at 1.45 pm on Tuesday. The stock has gained 6.3% in the past month and 39.6% this year, so far.

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