By
Fibre2Fashion
Published
May 3, 2024
Raymond, a leading player in the Indian textile industry, has reported its highest-ever annual revenue of Rs 92.86 billion (approximately $1.1 billion) and EBITDA of Rs 15.75 billion in fiscal 2024 (FY24), boasting an impressive EBITDA margin of 17 percent.
Despite challenges in the lifestyle business due to subdued consumer demand and market conditions, Raymond’s focused business approach yielded robust growth in the branded apparel and garmenting segments, resulting in an impressive double-digit revenue growth of 11 percent compared to the previous year.
In Q4 FY24, Raymond delivered significant growth in both revenue and profitability, marking the 11th consecutive quarter of sustained growth.
During this quarter, revenue surged by 23 percent year-on-year (YoY), reaching Rs 26.88 billion, accompanied by the highest-ever EBITDA of Rs 5.1 billion and an EBITDA margin of 19.2 percent, the company said in a media release.
In terms of segmental performance in Q4 FY24, the branded textile segment maintained its top line at Rs 9.2 billion, despite muted customer demand and challenging market conditions, with EBITDA margins remaining steady at 21.9 per cent due to operational efficiency.
The branded apparel segment reported a remarkable topline growth of 23 percent, with sales reaching Rs 4.09 billion, compared to Rs 3.32 billion in the same quarter last year.
The garmenting segment witnessed sales of Rs 2.8 billion, down from Rs 3.05 billion in the previous year, with an improved EBITDA margin of 11.3 percent.
High value cotton shirting reported sales of Rs 2.13 billion, up by 14 percent from the same quarter last year, driven by higher demand for linen fabric offerings from B2B customers in the domestic market, with an EBITDA margin of 11.5 percent.
“I am satisfied with the performance across businesses, and they have demonstrated consistent growth throughout the year. Our Lifestyle business showed strong perseverance and recorded growth despite headwinds and muted consumer demand. We remain committed to delivering value to stakeholders and are confident in our ability to capitalise on growth opportunities, ensuring sustained success in the future,” said Gautam Hari Singhania, chairman and managing director.
