Raymond, which has shed its apparel and real estate businesses through a series of demergers, is in talks to acquire Deharde, a German precision engineering company that supplies aerostructures to Airbus and others, people familiar with the matter said.
Deal Overview
If completed, the deal would mark Raymond's first overseas acquisition since its 2024 restructuring and would expand its play in the aerospace sector, where several private-sector groups, including Tata, Mahindra and Bharat Forge, are strengthening their positions in global supply chains. Raymond declined to comment on "market speculation".
Strategic Rationale
The Deharde deal would enhance Raymond's manufacturing footprint, which currently comprises a facility in Karnataka, with plans to add another in Andhra Pradesh. It would also give Raymond a certified European supplier relationship with major OEMs at a time of rising demand for outsourced aerospace components. Airbus had said it intends to increase annual sourcing from India to $2bn by 2030, while Rolls-Royce had described India as a "best-cost" sourcing market.
Company Backgrounds
Privately held Deharde traces its origins to 1909 as a metalworking workshop. It later expanded into aviation machining and grew into a specialist in aerospace engineering, tooling and assembly. Headquartered in Varel, it employs around 300 people.
Raymond's engineering business, led by Gautam Maini, posted an operating profit of Rs 335 crore on revenue of Rs 2,312 crore in FY26, and holds an order book of Rs 2,350 crore over the next five years.
Raymond Engineering Business Financials (FY26)
| Metric | Value |
|---|---|
| Revenue | Rs 2,312 crore |
| Operating Profit | Rs 335 crore |
| Order Book (5 years) | Rs 2,350 crore |
The acquisition of Deharde would complement Raymond's existing aerospace capabilities and provide a foothold in Europe, aligning with the increasing trend of Indian companies integrating into global aerospace supply chains. The move comes as major OEMs like Airbus and Rolls-Royce look to diversify sourcing and increase procurement from India.
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