Raymond

The proceeds from the sale of FMCG business would be utilized for repayment of debt and infusing of funds in the Lifestyle business, Raymond said.

As the demand has started to come back slowly, diversified group Raymond expects its growth rate to remain "at least double of inflation" this fiscal, according to Raymond Chairman and Managing Director Gautam Hari Singhania. Singhania says he is "optimistically" looking at the future with growth in mid to high teens percentage in the coming three-five years. The diversified group expects higher growth coming from its new realty business, while its lifestyle business comprising suiting and shirting verticals, gives a push to the growth. "Post Covid FY23 has been a good year for Raymonds so far. It was good for everybody. Things have turned around. I am optimistically looking at the future," Singhania told PTI. Raymond has two fundamental businesses - lifestyle and real estate. It was facing a slowdown because the middle class, which creates demand for clothing to housing and education, had a little bit of an impact on income because of the recession. "I think slowly it is startin

Raymond Ltd on Wednesday reported a decline of 4.42 per cent in its December quarter net profit at Rs 96.60 crore, mainly on account of a one-time tax hit. The company had posted a net profit of Rs 101.07 crore during the October-December period of the previous fiscal, Raymond said in a regulatory filing. Its revenue from operations rose 17.61 per cent to Rs 2,168.16 crore during the quarter under review, as against Rs 1,843.39 crore in the year-ago period. According to Raymond, it has recorded the "highest-ever revenues in a quarter". Total expenses were at Rs 1,977.28 crore, up 17.34 per cent from Rs 1,685.03 crore earlier. Raymond has exercised the option of lower corporate tax rate which has resulted in one-time net impact of Rs 73.5 crore in the profit and loss account, the company said in its earning statement. Its EBITDA (pre-tax profit) was at Rs 351 crore in the third quarter of FY23. The company's Chairman and Managing Director Gautam Hari Singhania said, "Raymond cont

Real estate firm Raymond Realty's commitment and on-time delivery of houses has "silenced critics", Raymond Group Chairman and MD Gautam Singhania said. He was speaking at a function here to hand over possession of 900 flats to buyers. Singhania said people did not believe the company when it embarked on a journey to build world-class housing for the masses. "...for many years people said 'yeh Raymond kon hai, yeh kya ghar banayega (Who is Raymond, how will it make homes?). In 2019 we embarked on the journey when we said we want to deliver world class housing, affordable luxury for the masses of India... "Raymond is a brand which has touched lives of millions and millions of people with the fabric they weave. From the taxi driver to the top, everybody is wearing Raymond," he added. "When we started, everybody said give them six months they will fail. Give them one year they will fail. After 18 months and the buildings came up, I put up a picture on the internet and Instagram in wh

Raymond's sales rise 15% in September quarter versus pre-Covid period

Raymond zoomed 3 per cent on Friday to hit an all-time high of Rs 1,329.90, after having gained 7 per cent in the previous session.

Diversified group Raymond Ltd on Thursday reported over a two-fold jump in its consolidated net profit to Rs 161.95 crore for the second quarter ended September 30 on improved growth across its business segments. The company had posted a net profit of Rs 56.15 crore during the July-September quarter of the previous fiscal, Raymond said in a regulatory filing. Its revenue from operations rose 39.76 per cent to Rs 2,168.24 crore from Rs 1,551.32 crore in the corresponding quarter previous fiscal. "Raymond continues to deliver high operating performance along with profitable growth for the 4th consecutive quarter, leveraging optimism in the market and improved consumer demand. "Focused approach has driven growth over pre-Covid levels and cost consciousness has led to deliver yet another record profitable quarter," said an earning statement by the company. Raymond's total expenses surged 31.27 per cent to Rs 1,954.18 crore in the second quarter of FY23 against Rs 1,488.64 crore a year

According to the technical analyst from Anand Rathi, Raymond can rally to Rs 1,100, while Metropolis Healthcare can surge to Rs 1,620.

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Its revenue from operations was at Rs 1,728.14 crore, up two-fold, in comparison with a lower base of the pandemic-impacted corresponding quarter.

Stocks to Watch: With oil prices staging a dramatic reversal, related stocks, along with rate-sensitive sectors will be on the radar as RBI announces its monetary policy outcome Friday.

The total number of employees in eight of the top retailers in India went up 57 per cent to 4,90,000 in FY22, with Reliance Retail hiring the most number of people at 1,61,000

Stocks to watch today: Tata Elxsi, L&T Infotech will report their June quarter results 2022 on Thursday July 14; Mindtree posted 37.3 per cent rise in net profit to Rs 471.6 crore for Q1FY23.

Singh has worked at Coca-Cola for about two decades at several senior leadership positions and concluded his journey there as chairman, Asia Pacific and spearheaded its businesses across 25 countries

Diversified group Raymond aims to be a net debt-free company in the next three years and is focused on liquidity management through cost reduction initiatives and working capital optimisation

As of 11:09 am; these stocks rallied up to 14 per cent on the BSE in intra-day trade today. In comparison, the S&P BSE Sensex was down 0.04 per cent.

The management expects consumer demand to stay strong with high number of weddings coupled with social gatherings and opening up of physical workspaces

The company had posted a net profit of Rs 58.36 crore during the January-March quarter of the previous fiscal, Raymond said in a regulatory filing

Raymond in a filing on September 27, 2021 said with a focus to fast- track the recovery post pandemic, Raymond will consolidate its B2C business by transfer of apparel business into Raymond Ltd

In the past three months, the stock has outperformed the market by surging 39 per cent after the company reported robust earnings for December quarter (Q3FY22).