Raymond sees healthy business verticals


15 September 2022, Mumbai:

As far as exports are concerned, Raymond has been able to onboard new customers. This is mainly on account of the China plus one story playing out in the company’s favor. Additionally, Raymond is adding new lines for exports.

Raymond is seeing strong traction in the real estate segment. The engineering business is also witnessing robust demand. Raymond expects to see both these verticals, real estate, and engineering, account for 25 percent of the total revenues by fiscal year 24. Both these segments are expected to contribute 35 percent to the EBITDA going forward.

So overall Raymond expects 2022 to be a record year in terms of profitability and revenues. And with healthy cash generation from most of its businesses, it is on track to become net debt free in the next three years.

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