Rabwin Industries Limited has recorded its highest revenue run rate in FY26 following a restructuring that expanded its group structure and manufacturing focus, with the FY26 topline indicated at INR 4.6–5.0 billion, implying year-on-year growth of about 63–77 percent from FY25 revenue of INR 2.82 billion. The Coimbatore-based precision engineering company generated about INR 2.29 billion in revenue during the first five months of the year (April–August 2025), roughly matching its full-year turnover in FY24.
The higher FY26 run rate follows a sharp increase in FY25. The company reported provisional revenue of INR 2.82 billion in FY25, up from INR 2.25 billion in FY24, representing year-on-year growth of about 25 percent.
Group restructuring and subsidiary consolidation
The recent acceleration coincides with a restructuring of the business and group structure. The company has consolidated three entities: Rabwin Intelligent Private Limited, Rabwin Jainithi Automation, and Rabwin Mouldsmith Private Limited. The restructuring has broadened the group’s activities across electronics manufacturing tooling, aluminium pressure die casting, and fibre mould machinery and forms part of preparations for a proposed initial public offering.
Entry into iPhone fixtures manufacturing
A central element of the restructuring is the expansion into manufacturing fixtures used in electronics and smartphone assembly. Through its wholly owned subsidiary, Rabwin Intelligent Private Limited, the group manufactures precision fixtures for iPhone assembly lines, positioning it as a supplier of manufacturing infrastructure within the consumer electronics ecosystem linked to Apple.
To support this business, Rabwin Industries is setting up a dedicated manufacturing unit focused on fixtures, tooling, and precision components for electronics manufacturing applications, with an investment of over INR 1.5 billion. The capital expenditure is being funded largely through borrowings, resulting in a higher consolidated debt position following the restructuring.
Rabwin Intelligent Private Limited is expected to achieve revenue of INR 850–900 million in FY26 and had recorded around INR 780 million in revenue up to August 2026. The subsidiary’s revenue profile is seasonal, with a significant portion generated between April and August, ahead of the annual iPhone launch cycle in September in India. The company supplies fixtures to iPhone assemblers including Foxconn and Tata Electronics for their India operations.
Decade-long, capacity-led expansion
Over a longer horizon, Rabwin Industries has expanded steadily rather than abruptly. Revenue rose from about INR 0.21 billion in FY14 to INR 2.25 billion in FY24, reflecting more than a tenfold increase over a decade.
A key operational milestone came in 2014, when the company moved operations into its own manufacturing premises. This was followed by the commissioning of Unit 2, which expanded capacity for heavy machining, assemblies, and structural components. The company crossed the INR 1 billion revenue mark in FY20 after scaling its CNC machine fleet and increasing export-oriented production.
Between FY21 and FY24, Rabwin commissioned Unit 3, which houses advanced machining and newer process lines, and expanded its total manufacturing footprint to more than 300,000 square feet across its Coimbatore units. Over the same period, the installed base grew to more than 325 CNC machines, supported by the acquisition of key certifications including IATF 16949 for automotive manufacturing and AS9100 for aerospace applications.
Margins, exports, and business profile
Operating margins have remained strong, ranging between 28–30 percent over the last three financial years, and are indicated to sustain at around 26–28 percent, supported by the ramp-up in operations at the newly consolidated subsidiaries.
For the first five months of FY26, the parent company derived about 27 percent of its revenue from electricals, 30 percent from valves, 22 percent from pumps, 11 percent from heavy engines, and 3 percent from the automotive sector. Exports accounted for roughly 15 percent of revenue, primarily to the United States. While recent US tariff measures present a potential risk, the company’s exposure is mitigated by its relationships with large multinational customers and its ability to absorb tariff-related costs.
Manufacturing scale and capabilities
Rabwin Industries operates multiple manufacturing facilities in Coimbatore, Tamil Nadu, with a combined built-up area exceeding 300,000 square feet. The company runs a fleet of around 400 CNC machines, including five-axis machining centres, horizontal and vertical machining centres, turnmill centres, and vertical boring lathes capable of machining components weighing up to 20 tonnes. It also operates an iron foundry with a casting capacity of around 750 tonnes per month.
The electronics manufacturing tooling and automation operations add specialised capabilities such as automated assembly fixtures for mobile phones, DMC code-based traceability, leak testing using ATEQ systems, laser marking, vision inspection, and poka-yoke interlock mechanisms. These sit alongside the group’s established capabilities in heavy machining, sub-assemblies, and certified automotive and aerospace processes.
The group serves a diversified end-user base that includes switch gears, pumps, valves, machine tools, textiles, railways, and general engineering. Rabwin Industries manufactures precision metal parts for these sectors, Rabwin Jainithi Automation produces aluminium pressure die casting components, and Rabwin Mouldsmith Private Limited manufactures fibre mould machines used in paper cup production. Rabwin Intelligent Private Limited, incorporated in 2023, focuses on manufacturing fixtures for communication devices and semiconductors.
Rabwin Industries was established in 1999 by P.R. Aruchamy, P. Ramakrishnan, and P. Balakrishnan. The company began operations with a single CNC machine and has expanded over more than 25 years under the continued leadership of its founding promoters. Aruchamy serves as Managing Director, while Ramakrishnan and Balakrishnan are Directors, and together they retain nearly full ownership of the privately held company, which has evolved from a textile components supplier into a diversified precision engineering group serving industrial, aerospace, defence, and electronics manufacturing tooling and automation markets.