24 June 2022, Mumbai:
The consolidated revenues of textiles and fashion retailer Raymond Group have grown to Rs 6,438 crore in FY2021-22 from Rs 3,648 crore in FY2020-21.
The Gautam Singhania-led company’s earnings before interest, taxes, depreciation and amortization (EBITDA) increased 13.49 per cent to Rs 881 crore while total assets grew from Rs 6,740 crore in FY21 to Rs 7,377 crore in FY22.
The company made a net profit of Rs 260 crore during the year whereas its profit before taxes reached Rs 413 crore. Raymond’s net debt reached Rs 1,088 crore in FY22 during the same period. Raymond’s consumer business comprises of branded textile, apparel, and retail. Sales of branded textile division raked in sales worth Rs 2,789 crore; sales of apparel business reached Rs 891 crore. As of FY22, Raymond has 1,351 exclusive stores, 1,304 stores in over 600 cities and towns in India, and 47 stores in eight countries.
Raymond’s garmenting business sales reached Rs 725 crore mainly from the US, Europe, and Japan, and exports to over 20 countries.
Sales from its high-value cotton shirting business grew to Rs 572 crore. In order to tackle higher raw material prices, the company sources wool from Australia, South Africa, the US, and Paraguay, linen flex from Belgium and France, and cotton yarns domestically.
It manages price fluctuation risks through a combination of forward and spot bookings, inventory management, pre-emptive vendor development practices, and price hikes are undertaken.
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