1. Heat treatment replacement - The new electric furnace plant at Gajraula (₹33-34 cr of the ₹77.45 cr FY26-27 capex) is set for trial production in January 2027, fully operational by February. It replaces 30-year-old LPG equipment, lifting capacity and cutting energy costs for the next three decades.
2. Royal Enfield ramp-up - Supplies for the 350cc motorcycle gearbox are sustaining at 7,500-8,000 sets per month against a 10,000 nomination, with the customer asking to double to 20,000. A second project is already bagged and a third under discussion, making this a new high-volume domestic leg.
3. ZF core recovery - Volumes are recovering as the product moved to BMW's X5 SUV, with utilization at 50-60% of installed capacity and the peak revenue year now seen in 2030. RACL is a registered supplier for the entire ZF group, receiving RFQs globally.
4. Kawasaki multi-component - A 15-part nomination from Kawasaki Japan has one component in production, nine pilot lots submitted, and SOP planned for October 2027. This high-volume general-purpose engine program spans SUVs, motorcycles, and lawn mowers, and is not yet in capex plans.
5. ZF electric power steering - Crystal - Sampling of 600 sets is under validation in Mexico and the US, with commercial supplies expected end-2027 or mid-2028. This US passenger car project requires huge new capacity, making it the next major revenue step-up.
6. ZF electric power steering - trucks - The first electric power steering system for US trucks, with the win received February 2026 and SOP expected September-October 2026. It opens the US truck segment where RACL has zero presence today, with ADAS adoption as a tailwind.
7. KTM recovery - KTM has bounced back to near pre-COVID levels, with model year '27 plans back to normal and the new Duke 790's entire kinematic supplied by RACL. Dealer stock has fallen from \~200,000 motorcycles at insolvency to 20,000, and Bajaj is investing over ₹8,000 crore.
8. TVS single-source expansion - RACL is single source for the entire gear train across all TVS motorcycles, including Norton and the new RTX 310 launched globally in Italy. Norton's 1.2-litre bike launching in India in May 2026 adds another all-RACL platform.
9. Kubota domestic shift - Parts previously exported to Kubota are shifting to domestic supply via Escorts, keeping the business while improving receivables. Kubota's plan to make India a global production hub, plus new harvester combine business, adds growth potential.