Textiles company Raymond announced Q4FY22 results: Revenue at Rs 2,032 crore up by 44% vs. previous year for the same quarter Highest quarterly EBITDA of Rs 358 crore with EBITDA margin of 17.6% Highest annual EBITDA of Rs 881 crore in spite of covid pandemic impact in 1st quarter Highest annual PAT of Rs 260 crore in last 10 years Significant debt reduction by Rs 165 crore leading to Net Debt of Rs 1,088 crore The Board of Directors has recommended a dividend of 30% 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." Result PDF
Textiles company Raymond Limited declares Q3FY22 result: Raymond Consolidated records highest profitable quarter in last 10 years Revenue up 45% vs. PY Rs 1,871 Cr; 100% of pre-Covid levels Highest PBT of Rs 186 Cr and the highest margin of 9.9% in last 10 years Highest ever EBITDA of Rs 303 Cr with EBITDA margin of 16.2% Significant reduction of net debt by Rs 310 Cr leading to Net Debt of Rs 1,253 Cr In domestic markets, improved consumer sentiments and strong festive & wedding season demand across our B2C businesses and strong momentum of export orders maintained in garmenting and engineering businesses helped in achieving 45% growth in revenues to Rs 1,871 Cr in the quarter Continued focus on cost optimization enabled reduction in overall operating cost in Q3FY22 & 9mFY22 by Rs 102 Cr (lower by 18%) and Rs 407 Cr (lower by 25%) respectively as compared to pre-covid levels of FY20 Launched premium residential project ‘The Address by GS’ at Thane during the quarter and received overwhelming response with ~100 units booked within 45 days of launch Commenting on the quarter performance, Mr. Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, “I am pleased to announce an overall strong performance in the quarter with business achieving 100% of pre-Covid levels. With our focused approach on capitalizing on the growing demand for our products and continued cost optimization, we delivered record profitability. We generated free cash flows to reduce debt and are progressing towards being a net debt free business. With Union Budget to be announced shortly, we are hopeful that there will be a further impetus for improving consumerism and expect reforms that increases the spending power of the consumer which will provide opportunity for Indian economy to achieve higher GDP growth in the coming fiscal." Result PDF