Home / Knowledge / News / Textiles / Raymond Ltd bucks trend to post exceptional results
Raymond Ltd bucks trend to post exceptional results
01
Nov '08
Raymond Limited today announced its un-audited financial results for the quarter ended September 30, 2008.

The textile segment sales registered an increase of 22% to Rs 370 crores driven by robust market demand. The textile segmental profit amounted to Rs 80 crore as compared to Rs 54 crore in same quarter in the previous year, an increase of 49% due to improved performance.

The profit margin of the textile segment improved to 22% from 18% due to better product mix, higher realization and volume growth. The net sales of Files & Tools segment was up by 42% to Rs 59 crores backed by excellent growth rates in realization and higher volumes, especially in international markets.

The segmental profit was also up to Rs 8 crores from Rs 2 crores in the same quarter of the previous year. The profit margin of Files & Tools segment improved to 14% from 5%.

The Group's branded apparel businesses continued its blistering pace of growth and logged sales growth rates close to 27% for the quarter over same period previous year.

The Group added 21 stores and retail space of 46000 sq. ft. during the quarter. The retail sales of the company have grown by 27% over the same period previous year. Like-to-like sales of the company stores have grown over 16%.

The Standalone Net Profit for the quarter ended September 30, 2008 was Rs 24 crores. The standalone profitability was affected on account of forex loss of Rs 12 crores due to translation losses on foreign exchange borrowings, as opposed to a translation gain of Rs 8 crores in the same quarter of the previous year.

The first phase of the proposed suit plant with capacity of 1800 suits per day commenced operations in September 2008. The Vapi Phase III expansion is on schedule and the plant will commence operation from Q4FY09.

The Group's carded woolen outerwear Joint Venture with Lanificio Fedora was terminated w.e.f. 9th August 2008. The name of the company has been changed to “Raymond Woolen Outerwear Ltd.” and has now become a subsidiary of Raymond Ltd.

Announcing the results, Mr. Gautam Hari Singhania, Chairman & Managing Director, Raymond Limited said, “Our robust performance in these testing times across all our business categories including our core business is a testimony to the strength of our brand franchise and the reach of our retail and distribution network.

Though the current financial turmoil could bring with it its own share of uncertainties we are bullish on India consumption story and we believe that with our inherent strengths we will sustain our current performance.”

Raymonds Ltd


Must ReadView All

ITC, ICS tie up to help Moroccan textile value chain

Textiles | On 21st Apr 2018

ITC, ICS tie up to help Moroccan textile value chain

The International Trade Centre (ITC) has partnered with ICS, which...

Bangladesh garment manufacturers call for fair pricing

Apparel/Garments | On 21st Apr 2018

Bangladesh garment manufacturers call for fair pricing

Bangladesh garment manufacturers want a ‘commensurate adjustment’ by...

Pak ministry proposes extension to PM package for 2018-19

Textiles | On 21st Apr 2018

Pak ministry proposes extension to PM package for 2018-19

Pakistani textile ministry has reportedly proposed extending the...

Interviews View All

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search