BusinessWire India

Vadodara (Gujarat) [India], September 21: Ratnaveer Precision Engineering Limited has touched an all-time high of Rs. 337.40, with the stock witnessing a notable technical breakout as the company approaches a series of key operational milestones. The market movement comes at a time when Ratnaveer's Copper Clad Laminate (CCL) project is progressing towards commercialisation, with the machinery having left China and currently in transit to India.

The company is targeting trial production by the second week of December 2026, followed by the proposed inauguration of the facility around mid-January 2027. With the project entering its final implementation phase, the company is preparing for the commencement of commercial activity and customer order bookings.

Order Bookings Expected to Commence from October 31

A key development for Ratnaveer is the expected commencement of CCL order bookings from October 31, 2026. The company is currently engaged in discussions with customers for business visibility extending over the next two to three years.

The company has already started receiving soft confirmations and indications of interest for long-term and potentially exclusive contracts, with customer discussions indicating business visibility extending over the next two to three years. While these discussions are progressing, the company expects to start concluding and formalising these arrangements by the end of October.

The development provides an early indication of customer interest ahead of commercial production, while the formalisation of orders is expected to provide greater visibility as the CCL facility moves towards commissioning.

Potential for Improved Margins

Beyond the potential revenue contribution, the CCL project could also create an opportunity for a substantial improvement in margins compared with the levels indicated in the company's earlier guidance.

The current CCL pricing environment has strengthened considerably, and the company expects the prevailing pricing scenario to be reflected in the economics of the business as commercial production commences. As customer bookings begin and the facility moves towards higher utilisation, the CCL segment could therefore provide both incremental revenue visibility and potential margin expansion.

The company believes that the combination of current pricing, prospective long-term contracts and the transition towards commercial production could materially change the contribution profile of the CCL business.

Rights Issue Successfully Completed

Ratnaveer has also successfully completed its recently announced Rs. 329.99 crore rights issue, with the funds received by the company. The successful fundraise provides the company with resources to support its ongoing growth plans, including the development and commissioning of the CCL project.

The completion of the rights issue marks an important step in the company's broader growth roadmap and provides financial support as Ratnaveer moves towards the commercialisation of its new CCL business.

From Project Execution to Commercialisation

Ratnaveer's CCL project is now moving from execution towards commercialisation, with several milestones lined up over the coming months - order bookings expected to commence from October 31, trial production targeted for the second week of December and proposed inauguration in mid-January 2027.

At the same time, soft confirmations for potential long-term exclusive arrangements have already started emerging, with the company working towards converting these discussions into formal contracts from October end.

With the stock recently touching its Rs. 337.40 all-time high amid a technical breakout, the company's upcoming operational milestones, CCL order visibility and potential margin improvement are likely to remain key areas of investor attention as Ratnaveer moves into its next phase of growth.

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