Raj Rayon after the shutdown quarter: margins improve as capacity steps up to 400 TPD

Revenue from operations was INR 204.5 crore, EBITDA was INR 17.3 crore (8.4 percent margin), and PAT was INR 6.9 crore (3.4 percent margin).

The company stated the plant was shut for 46 days to complete a debottlenecking exercise, which reduced capacity utilisation to 46 percent in the quarter.

Management stated polymerisation capacity was enhanced from 350 TPD to 400 TPD through debottlenecking.

The presentation describes a brownfield capex plan of up to INR 650 crore to reach about 700++ TPD across polyester yarn, recycled yarn (50 TPD) and fabrics (about 10 TPD).

The company indicates full capacity commissioning in CY2028 and FY29 as the first full year of full commercialisation.

FY26 segmental revenue shown is Polymer/Chips INR 111 crore, POY INR 672 crore, and DTY INR 396 crore.

RRIL states it operates a structurally negative working capital cycle, and reports FY26 working capital days of minus 26 days due to supplier-credit-backed raw material procurement using largely non-fund-based facilities.