Raymond Q4 Results: Highest ever quarter revenue at ₹2,688 Crore

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Synopsis:

Quarter four of FY24 saw great developments for Raymod. The company saw a growth of 23% in its revenues to ₹2,688 Crore over the previous year in Q4FY24. It also achieved the highest-ever quarterly EBITDA at ₹516 Crore with an EBITDA margin of 19.2%. Raymond’s Board of Directors have also recommended a dividend of 100% and earnings per share (EPS) of ₹98.

Introduction

First incorporated as the Raymond Woolen Mill in 1925, Raymond was first founded near Thane Creek. It was in 1944 that Lala Kailashpat Singhania took over The Raymond Woolen Mill, which led to the now classy, elegant and individualistic men’s brand that we know today. It was in the year 2000 that Mr Gautam Singhania was appointed as the Chairman and Managing Director of Raymond Limited. 15 years later, the company became the very first textile company across the globe to produce Super 250s and innovative fabrics. Raymond has under its belt a 97-year-old expertise. It is a textile powerhouse and a reputed, fast-growing fashion fabric brand. With its extensive collection of shirting and suiting fabrics and brands like Park Avenue, Raymond Ready To Wear, ColorPlus and Parx Ethnix under its belt, Raymond continues to dominate the fashion-fabric space. The company is also the largest textile company in the world that exports to 60+ countries including the USA, Canada, Europe and the Middle East.

ExploreRaymond Ltd Share Price

5 Key Financial Highlights

The fourth quarter of FY24 has seen brilliant margins when it comes to Raymond’s profits and revenues. Here are some of the main financial highlights from the Raymond Q4 Results:

  • Revenue for the quarter at ₹2,688 Crore up by 23% YoY

  • EBITDA at ₹516 Crore and EBITDA margin of 19.2% in Q4

  • PAT for the quarter of ₹229 Crore, up from ₹194 Crore by 18% 

  • Annual Revenue of ₹9,286 Crore up from ₹8,337 by 11% YoY

  • Annual EBITDA of ₹1,575 Crore and EBITDA margin of 17%, up 19% YoY


Additional ReadQuarterly Results

Key Business Updates:

Other than the numbers that demonstrate the growth the company has achieved in Q4 as well as FY24, the company also had certain business updates to share. Here are some of them:

  • Raymond’s apparel business witnessed an increase in revenue from ₹332 Crore in Q4FY23 to ₹409 Crore in Q4FY24; a growth of 23% 

  • Raymond Group forayed into sunrise sectors of Aerospace, Defense and EV components business with the business acquisition of Maini Precision Product Ltd.

  • The company has managed to maintain its strong booking momentum with the launch of its first JDA project in Bandra, Mumbai when it comes to Raymond’s real estate business

  • During the year, the company has also opened more than 200 stores including 56 ‘Ethnix by Raymond’ stores.

Additional Read: Voltamp Q4 Results

Profitability Analysis:

Raymond, has yet again, proven that it is an extremely profitable brand to invest in. The company saw a growth of 23% in its revenues to ₹2,688 Crores over the previous year in Q4. It also achieved the highest-ever quarterly EBITDA at ₹516 Crore with an EBITDA margin of 19.2%. Other than that the company’s annual PAT (including profit on the sale of FMCG business) stood at ₹1,638 Crore up 210% YoY, while its annual revenue came to ₹9,286 Crore up by 11% YoY. The company’s EBITDA for FY24 stood at ₹1,575 Crore with an EBITDA margin of 17%, recording a growth of 19% YoY. The Board of Directors of the company have recommended a dividend of 100% and an earnings per share (EPS) of ₹98. The company’s branded apparel segment also reported growth of 23% with sales at ₹409 Crore in Q4FY24 compared to ₹332 Crore in the same quarter last year. Raymond’s engineering business excluding MPPL reported sales of ₹234 Crore in Q4FY24 up by 7% compared to ₹219 Crore in the same quarter of the previous year.  

Additional Read: Britannia Q4 Results

Major Operational Metrics - Consolidated Q4 (FY2023-24) Financial Results of Raymond (in ₹ Crore)


Metrics

For Quarter Ended

For Year Ended

Q4FY24

Q4FY23

YoY%

FY24

FY23

YoY%

Net Revenue

2688

2192

23%

9286

8337

11%

EBITDA

516

379

36%

1575

1322

19%

EBITDA %

19.2%

17.3%

190 bps

17%

15.9%

110 bps

PAT excluding profit on the sale of FMCG business

229

194

18%

655

529

24%

Profit on sale of FMCG Business

-

-

-

983

-

-

Reported PAT

229

194

18%

1638

529

210%

The Future of Raymond

Raymond has seen exceptional growth in all its verticals in both Q4FY24 as well as FY24 as a whole. This made the fourth quarter of FY24 the 11th consecutive quarter where the company has sustained growth. The company’s real estate segment secured a total booking value of ₹2,249 Crore. The demerger of the Lifestyle Business that Raymond had proposed has also received SEBI, shareholder, and creditor approval. With its three verticals; Lifestyle, Real Estate & Engineering business, the company is confident that it is in line with India’s vision of Viksit Bharat 

Additional Read: Blue Dart Express Q4 Results

Conclusion

Raymond has seen considerable growth in the fourth quarter of FY24. With a growth of 23% in its revenues to ₹2,688 Crore over the previous year in Q4FY24, the company also achieved the highest-ever quarterly EBITDA at ₹516 Crore with an EBITDA margin of 19.2%. Adding to these numbers are the profits seen by its various verticals as well. With these results on the table, Raymond’s Board of Directors recommended a dividend of 100% and earnings per share (EPS) of ₹98.

Additional Read: Adani Green Q4 Result

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Frequently Asked Questions

What is the revenue that Britannia has been able to make in Q4?

Answer Field

Britannia recorded a total revenue from operations of ₹4,069.36 Crore compared to ₹4,023.18 Crore in Q4FY23

What is the future outlook for Britannia after the release of the Q4 results?

Answer Field

With Britannia’s Q4FY24 out, the growth achieved by the company in FY24 has become apparent. While the numbers indicate how the growth trajectory of the company is moving, Britannia also saw many developments in its businesses. It also launched many campaigns that have helped it push its products further into the spotlight while also contributing towards the growth and betterment of society.

What are some of the main business updates for Britannia?

Answer Field
Other than the profitable numbers that the company saw in Q4FY24 and the entirety of FY24, the company also had some key business updates to share. Here is a list of some of them:
  • Britannia was roped in as a sponsor for IPL 2024 by JioCinemas 
  • Britannia and Mindshare rolled out an AI-powered camera campaign for NutriChoice that featured Ranveer Singh
  • Bourbon shake by Winkin' Cow and Britannia Bourbon hit the supermarket shelves
  • Britannia Marie Gold launched HerStore which helps offer support to women entrepreneurs in India.
  • Britannia Milk Bikis launches a region-specific ad campaign in multiple dialects of Tamil
  • The company was also able to reach close to 27.9 lakh outlets directly
  • It also added around 2000 rural distributors in FY24
  • The company’s channels like Modern Trade and E-commerce saw a double-digit growth compared to the previous year.

 

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