Key highlights
- Consolidated revenue doubles to Rs. 1,583 Cr EBITDA margin at 13.4% higher than pre-covid levels.
- Consolidated revenue doubles to Rs. 1,583 Cr in Q2FY22 from Rs. 732 Cr in Q2FY21
- Consolidated EBITDA margin of 13.4% higher than pre-covid levels of 12.4% in Q2FY20
- Continued focused approach on optimizing operating expenses resulted in controlling costs during the quarter. The increase in opex from Rs. 304 Cr in Q2FY21 to Rs. 424 Cr in Q2FY22 is primarily due to doubling of revenues
- Net Profit at Rs. 53 Cr for the quarter
- Focused control on opex cost as well as working capital management led to free cash flow generation in Q2FY22 resulting in net debt reduction by Rs. 53 Cr from Rs. 1,617 Cr as on 30th June, 2021 to Rs. 1,564 Cr as on 30th September, 2021
- Liquidity maintained at Rs. 650 Cr (cash & cash equivalents) as on 30th September, 2021
Commenting on the quarter performance, Mr. Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said,“ All our businesses have performed well in the second quarter. The consumer facing businesses are witnessing strong resurgence of demand and we witnessed an uptick on a week on week basis during the quarter. With the onset of festive and wedding season, the consumer sentiment is upbeat primarily due to large scale vaccination drive across the country.
With the opening up of global economy, there is an impetus on our Garmenting export business that continues to perform well with a healthy order book. Engineering businesses comprising of Tools & Hardware and Auto Components have achieved the significant milestone in terms of highest sales ever in a quarter with strong growth in exports market and well supported by sustained growth in domestic market. Our Real Estate business is on fast track with rapid construction and new bookings momentum with upcoming offerings both in residential and commercial space. With festive and wedding season buoyancy in H2 of this financial year, we are optimistic that the industry is on track for a strong revival.”
