Raymond Limited reported robust financial results for Q2 FY24, achieving record revenue and EBITDA despite subdued consumer demand. The company continues to expand its market presence and product offerings, positioning itself for future growth.

Strong performance despite market challenges

Management Tone: Optimistic

Performance Overview

Business Progress

Future Outlook

Financial Highlights
EBITDA: ₹382 crores (52% QoQ, 7% YoY)
Revenue: ₹2,321 crores (27% QoQ, 6% YoY)
Net Profit: ₹160 crores (1% YoY, 11% excluding exceptional items)

Operational Excellence
9 consecutive quarters of record performance.
Strong growth in branded apparel and garmenting segments.
EBITDA margin at 16.5% despite inflationary pressures.

Key Achievements
Opened 63 new stores, increasing total to 1,453 across 600 towns.
Branded apparel segment grew 18% YoY, driven by new collections and store expansions.

Strategic Updates
Expansion of garmenting capacity to leverage 'China Plus One' strategy.
Acquisition of Maini Precision to strengthen automotive segment presence.

Future Guidance
Continued focus on premiumization and operational efficiency.
Expansion into new residential projects in the MMR region with revenue potential exceeding ₹5,000 crores.

Strategic Priorities
Enhancing retail presence and product offerings.
Strengthening customer relationships and service quality.

Risk Factors
Ongoing inflationary pressures affecting consumer spending.
Sluggish export markets impacting engineering segment.