Raymond shares hit Rs 2,000 level after Q1 results.

According to Raymond, both in terms of sales and Ebitda, the first quarter’s performance was its best. Despite weak consumer demand, the company has maintained constant profitable growth, it claimed.

All trade channels and the retail network saw an increase. The segment's Ebitda margin was 6.4%, it was stated. — *According to Raymond, its sustained emphasis on casualization and premiumization in the branded apparel market allowed for a 16% increase in top line revenue.*

INTRODUCTION

In Friday’s trading, Raymond shares crossed the Rs 2,000 mark after the company reported that its profit more than doubled in the June quarter and that, as a result of the sale of its FMCG division, it had become net debt free.

According to Raymond, the company’s profit increased 13.14 times, from Rs 81 crore in the first quarter of last year to Rs 1,065 crore in the first quarter.

Despite weak consumer demand and difficult market conditions, the company “continues to demonstrate consistent profitable growth,” it stated.

In a typically difficult quarter, Raymond’s revenue was at its highest level ever and its Ebitda margin was robust at 13.8%.

According to the corporation, a top line rise of 16% was made possible by its sustained emphasis on casualization and premiumization in the branded apparel market.

“The real estate industry continues to see robust demand for its products, as evidenced by the July launch of a high-end residential project in Thane with an RERA carpet area of over 1 million square feet and a potential income of more than Rs 2,000 crore.

According to Chairman and Managing Director Gautam Hari Singhania, Raymond experienced a historic first quarter in which it became net debt free following the sale of its FMCG division.

According to Raymond, there has been an increase in consumer demand for its most recent season’s offerings, which include novel products and giving ideas for the summer wedding season.