Raymond Ltd.’s consolidated net revenue for the quarter ended March 31, 2015 was up 14 per cent at Rs. 1,440 crores. Consolidated net revenue for the year crossed the Rs. 5,000-crore mark and stood at Rs. 5,428 crores, while consolidated PAT grew by five per cent to Rs. 113 crores. The Board of Directors has recommended a dividend of 30 per cent.
The textile segment sales for the quarter ended March 31, 2015, witnessed a Y-o-Y increase of 25 per cent to Rs. 677 crores on the back of volume growth in domestic sales and exports and increased penetration of shirting fabric across B2C channels. EBITDA for the quarter increased by 22 per cent Y-o-Y to Rs. 128 crores.
The apparel segment’s net sales for the quarter moved up 26 per cent Y-o-Y to Rs. 288 crores driven by the strong performance of all the brands. This segment achieved a marginal profit at EBITDA level despite high brand building cost and stores roll-out.
The retail stores count as at March 31, 2015, stood at 1,003 across all formats, including 43 stores in the Middle East and the SAARC region covering over 1.8 million square feet of retail space. Total sales through the exclusive retail network grew by 12 per cent Y-o-Y.
The garmenting segment’s net sales grew by five per cent Y-o-Y to Rs. 120 crores during the quarter. However, EBITDA declined by 66 per cent Y-o-Y to Rs. 6 crores.
The high value cotton shirting fabric business grew by seven per cent Y-o-Y to Rs. 99 crores during the quarter led by strong performance in the domestic market. EBITDA increased by 25 per cent Y-o-Y to Rs. 11 crores.
Announcing the results, Mr. Gautam Hari Singhania, Chairman & Managing Director, Raymond Ltd., said: “We ended the financial year 2014 -15 on a strong note with high revenue growth in the Lifestyle business, despite subdued consumer sentiment and high interest rates that prevailed for most part of the year. We have significantly stepped up our growth-related investments in the form of higher Ad spends, New Store roll-outs, stores renovation etc., benefits of which are likely to accrue in the coming year. We are taking corrective steps to improve the performance of our Engineering business. We are hopeful of the domestic scenario improving in the coming quarters and will continue to invest for growth in the exciting times ahead”.