Raymond records highest ever revenue and profitability in successive quarters

Successive 2 quarters of record achievement in 10 years

Mr. Gautam Hari Singhania, Chairman & MD, Raymond Ltd

Having core brand strength and wide distribution network across the country, Raymond capitalized on the buoyant demand and strong consumer sentiments during the last quarter of financial year 2022. With work life coming back to the physical mode coupled with strong wedding season, demand across our B2C businesses witnessed the growth impetus. Demand in international markets and robust momentum of export orders maintained in garmenting and engineering businesses. With the increased demand amongst home buyers, our real estate business made a healthy contribution. Overall the company achieved highest ever consolidated revenues of Rs. 2,032 Cr during the quarter.

Continued focus on cost optimization enabled reduction in overall operating cost in FY22 by Rs. 453 Cr (lower by 21%) as compared to pre-covid levels of FY20

Commenting on the strong quarter performance, Mr. Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, “I am happy to announce that the company delivered a very strong quarterly performance consecutively in two quarters. Capitalizing on the strength of the brand along with our expansive network, we leveraged the growing demand both in domestic and international markets through wide range of product offerings. We have witnessed demand recovery across all our businesses to pre-covid levels and with our effective cost management, we have delivered highest profitability for the quarter and the year. With strong focus on deleveraging, through profitability and working capitol management, we hove generated free cash/lows which has reduced the net debt by ~40% in last two years despite the pandemic.”

Segmental Performance:

Branded Textile segment sales reported strong growth of 23% to Rs. 886 Cr vs Rs. 722 Cr during Q4 previous year. The growth was witnessed across our primary channels and retail store network driven by strong momentum in secondary sales led by wedding related purchases and higher footfalls in retail outlets. The sales also picked up in primary channels due to upcoming wedding season. The segment reported robust EBITDA margin of 22.7% marginally higher as compared to previous year. Higher realization and operational efficiencies contributed largely to margin performance.

Raymond is India’s largest integrated worsted suiting manufacturer that offers end-to-end solutions for fabric and garmenting. Over the years, Raymond has been synonymous with quality, innovation and market leadership. It has some of the leading brands within its portfolio – ‘Raymond Ready to Wear’, ‘Park Avenue’, ‘ColorPlus’, ‘Parx’, ‘Raymond Made to Measure’ and Ethnix by Raymond amongst others.

Raymond has one of the largest exclusive retail networks in the country with around 1,350 stores in more than 600 towns. The group has presence in engineering space engaged in precision engineered products with an expansive presence in national as well as international markets.

Raymond forayed into realty sector through the launch of its maiden project TenX – an ‘aspirational district’ spread across 14 acres housing ~3,150 residential units and has recently launched a premium residential project – The Address by GS.

Raymond also has presence in FMCG sector through Raymond Consumer Care that offers wide range of products in men’s personal grooming category and personal hygiene. Having enjoyed the patronage of over a billion consumers, Raymond as a brand has been consistently delivering world class quality products to its consumers over the past nine decades.

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