02 August 2023, Mumbai
Drives successful business overhaul
In a strategic move spanning two decades, Gautam Singhania, the visionary leader of Raymond, has methodically divested from non-core businesses, reshaping the group's trajectory.
Notably, the recent sale of the consumer care business to the Godrej group for Rs 2,825 crore in an all-cash deal was a pivotal step in this transformation.
The Group's relentless pursuit of profitability and debt reduction yielded remarkable results.
Leading to impressive performance
The group's net debt plunged to Rs 689 crore in FY23, with net profits more than doubling to Rs 529 crore. Further restructuring carved the way for three focused businesses – real estate, lifestyle/textiles, and engineering.
Vision
With the group now debt-free and eyeing revenues of Rs 10,000 crore in FY24, Group envisions a future brimming with promise and possibilities.
