Textiles firm Raymond announced Q3FY23 results: Q3FY23: Revenue up by 18% at Rs 2,200 crore vs same quarter previous year. EBITDA up by 16% at Rs 351 crore vs same quarter previous year. The Net Debt has reduced to Rs 932 crore as on Q3FY23 as compared to Rs 1,286 crore. Commenting on the strong quarter performance, Mr. Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, “Raymond continues to leverage the buoyancy in domestic markets as the festivities added to the fervor of good consumer demand leading to delivering highest ever revenues in a quarter. I am happy to share, that this is the fifth straight quarter where we have registered strong performance and overall generated free cash flows to further deleverage the balance sheet to below Rs 1,000 crore of net debt levels. Realty has set an industry benchmark by delivering 3 towers, 24 months ahead of RERA timelines and have achieved this commendable feat in just three years of real estate business operations." Result PDF
Textiles firm Raymond announced Q2FY23 results: Revenue at Rs. 2,191 crore up by 38% vs. Q2FY22 and up by 15% for the corresponding period pre-pandemic Highest EBITDA of Rs. 358 crore with an EBITDA margin of 16.3% in the last 10 years. The Net Debt has reduced to Rs. 1,286 crore as of Q2FY23 as compared to Rs. 1,310 crore in Q2FY23 through free-cash-flow generation driven by strong profitability. Commenting on the strong quarter performance, Mr. Gautam Hari Singhania, Chairman & Managing Director, of Raymond Limited said, “All our businesses are delivering consistent growth in both revenues and profitability quarter on quarter. All 4 quarters are respectively recorded quarters in the last 12 months. Our quality products and services are tailored to meet the ever-changing demand from consumers be it fashion or real estate and this approach has helped us to achieve profitable growth compared to pre-Covid levels. This quarter’s result is also a reflection that Raymond is able to leverage the growing buoyancy in Indian markets across its businesses. As the China+1 strategy is working well for us, we have acquired marquee customers for our garments business and going forward we intend to sustain the momentum.” Result PDF