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Raymond Q4 net profit increases 24 per cent

By Meenakshi Kumar


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For the fourth quarter Raymond’s consolidated net profit was up 24.26 per cent. Total income during the period under review was up 10.99 per cent as against the corresponding quarter last fiscal. During the financial year Raymond’s total expenses were up 10.37 per cent. Total income was up 11.33 per cent.

The company's branded textile segment sales during the quarter was at Rs 832 crore, higher by 4 per cent over previous year led by 3 per cent growth in the suiting business and 9 percent growth in the shirting business. The branded apparel segment sales during the last quarter were at Rs 489 crore, up by 21 per cent over previous year. Retail store count in FY19 stood at 1,444 across all formats covering about 2.4 million square feet of retail space. In-line with its stated asset light network expansion strategy, the company opened 275 stores on franchisee model during the year. Garmenting segment sales during the quarter under review were at Rs 212 crore, higher by 5 percent over previous year led by exports growth in US. High value cotton shirting segment sales were at Rs 156 crore, which grew by 7 percent mainly on account of yarn sales from its Amravati plant.

Raymond is known for innovations in manufacturing top quality fabrics using both natural and manmade fibers. Raymond now has four strong brands: Raymond, Park Avenue, Park and Colour Plus and the company is doing well and delivering a high double-digit growth. The company is currently in the right place with the right set of opportunities. The company is made up of many parts -- textile, apparel, B to C fabrics, engineering, auto components, FMCG. Every part has its own challenges and its own needs and desires. For Raymond fabrics are a solid and legacy business, while apparels are growing strongly. It is a market leader in its space and has managed to enter the FMCG space. As for key focus areas of the company, the priority is to see exponential shareholder returns. Raymond and Reliance have launched a range of eco-friendly fabrics named Ecovera. This is manufactured using R Elan Green Gold, a technology from Reliance Industries.