Textiles firm Raymond announced Q1FY23 Result : Raymond consistently delivers strong quarterly performance Highest Q1 revenue and profitability in last 10 years Revenue at Rs 1,754 Cr up by 104% vs. previous year and up by 19% for the corresponding period pre-pandemic Highest Q1 EBITDA of Rs 235 Cr with EBITDA margin of 13.4% in last 10 years Q1 witnessed temporarily high inventory on account of higher production to address the upcoming festival and wedding season sales. This led to increase in working capital resulting in an increase in net debt by Rs 222 Cr to Rs 1,310 Cr. However, we will continue our debt reduction plans and the current net debt will be further reduced in the current financial year. Commenting on the strong quarter performance, Mr. Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, “At Raymond, our continued focus on operating and financial parameters across businesses, supported by expansive network, quality products and services led to highest first quarterly revenue and profitability. The growing demand in both - domestic and international markets along with new customer acquisitions in international markets has been rewarding for the quarter. Furthermore, our real estate project is progressing well with sales velocity and construction pace of both the projects at Thane. This helps us to deliver strong performance for our Real estate business.” Result PDF